Muthoot Microfin Q1 PAT Jumps 12x YoY to ₹81 Cr

Date: 6th August 2026

Gross Loan Portfolio (GLP) grew 18.0% YoY and 3.2% QoQ to Rs. 14,457.2 crore.
Disbursements stood at Rs. 2,645 crore, registering a growth of 48.9% YoY, marking the highest-ever first quarter disbursements.
Portfolio diversification continued, with the Non-JLG portfolio increasing to 24% of the total portfolio.
Commenced gold loan disbursements under a referral and co-lending partnership with Muthoot Fincorp Limited.
CRISIL upgraded the company's long-term credit rating to CRISIL AA-/Stable from CRISIL A+/Positive.
CRISIL A1+ rating on its Commercial Paper was reaffirmed.
Digital collections increased to 40.5%, compared with 23.1% in Q1 FY26.
Active customer base stood at 32.5 lakh.
The company operates a pan-India network of 1,671 branches with 15,639 employees.

Total Income grew 20.0% YoY and 5.0% QoQ to Rs. 670.6 crore.
Net Interest Margin (NIM) remained stable at 12.0%.
Pre-Provision Operating Profit (PPOP) increased 43.3% YoY and 2.9% QoQ to Rs. 198.5 crore.
Profit After Tax (PAT) stood at Rs. 81.3 crore, registering a growth of 12x YoY and 14.4% QoQ.
Asset quality strengthened:
GNPA improved by 115 bps YoY and 19 bps QoQ to 3.70%.
NNPA reduced by 53 bps YoY and 10 bps QoQ to 1.05%.
Credit Cost was at 2.6%, below the guided range of 2.7-3%.
Collection Efficiency (Overall) improved to 97.97%, up by 497 bps YoY and 154 bps QoQ.
X-Bucket Collection Efficiency stood at 99.89%.
Funding profile remained strong, with Rs. 2,733 crore raised during the quarter.
Average cost of borrowing reduced to 10.13% from 10.27% in FY26.
Liquidity position remained robust, supported by:
Rs. 1,328 crore in liquid funds and HQLA-GSec investments.
Rs. 2,500 crore of Direct Assignment (DA) / Pass Through Certificate (PTC) sanctions.
Rs. 1,485 crore of unutilised term funding sanctions.
Capital adequacy ratio (CRAR) improved to 24.9% at Jun'26 from 23.9% in Mar'26.

| Particulars | Q1FY27 | Q1FY26 | YoY Change |

| Gross Loan Portfolio (Rs. Cr) | 14,457.2 | 12,252.8 | 18.0% |

| Borrowers (Lakh) | 32.5 | 34.1 | -4.7% |

| Branches (No.) | 1,671 | 1,726 | -3.2% |

| Total Income (Rs. Cr) | 670.6 | 559.1 | 20.0% |

| Pre-Provision Operating Profit (PPOP) (Rs. Cr) | 198.5 | 138.5 | 43.3% |

| Profit After Tax (PAT) (Rs. Cr) | 81.3 | 6.2 | 12x |

| Key Ratios | Q1FY27 | Q1FY26 | YoY Change |

| Net Interest Margin (NIM) | 12.0% | 11.5% | 50 bps |

| Cost/Income Ratio | 53.7% | 60.9% | -721 bps |

| Opex/GLP Ratio | 6.3% | 6.9% | -52 bps |

| Return on Assets (ROA) | 2.3% | 0.2% | 209 bps |

| Return on Equity (ROE) | 11.2% | 0.9% | 1029 bps |

Mr. Thomas Muthoot, Chairman & Non-Executive Director:

Stated that FY27 marks an inflection point for the microfinance sector with improving collection trends.
Highlighted the CRISIL credit rating upgrade as reinforcing the strength of business fundamentals.
Emphasized the company's transformation into a more diversified lending franchise through portfolio mix improvement and new product launches like gold loans.
Outlined Vision 30-30, an aspiration to achieve ₹30,000 crore AUM, a balanced portfolio mix, and a Return on Equity of over 20% by FY30.

Mr. Sadaf Sayeed, CEO:

Attributed the strong performance to traction in the Non-JLG segment, now contributing ~24% of the total portfolio.
Highlighted the improvement in collection efficiency (97.97%) and X-bucket efficiency (99.89%) as reflecting portfolio resilience.
Reiterated priorities to deepen market presence, strengthen customer relationships, expand the product portfolio, and leverage technology.
Expressed confidence in delivering on FY27 priorities and progressing towards Vision 30-30, supported by a stronger balance sheet and improving asset quality.