Muthoot Finance Limited Earnings Summary — Q4 FY2026

• Delivered a record quarterly net profit of ₹3,397 Cr, marking a significant acceleration from ₹1,444 Cr in the same quarter last year.
• Revenue growth was robust at 65% YoY, driven by strong demand in the gold loan segment and expanding interest income.
• Financing margins expanded dramatically to 50% in Q4 FY26, up from 35% in Q4 FY25, indicating high pricing power and operational efficiency.
• Asset quality remains resilient despite rapid growth, with the company maintaining its status as India's preeminent gold loan NBFC.
• Borrowings have risen to ₹1,51,806 Cr to fuel aggressive lending, leading to a slight increase in the debt-to-equity ratio.
• Management successfully converted branch expansion into significant operating leverage, reflected in the TTM profit growth of 99%.

Management is horizontally diversifying into insurance intermediation while maintaining its core focus on the gold lending moat.

Improving

The massive jump in financing margins from 35% to 50% and the 135% YoY profit growth reflect a major uptick in operational performance.

The company is positioned as a diversified financial powerhouse with a high-liquidity collateral base and superior compounding potential through its 4,800+ branch network.