Stock Report

Muthoot Capital Services Limited reports FY24 profit of Rs.122.66 Crores

Posted On : 2024-05-26 10:26:52( TIMEZONE : IST )

Muthoot Capital Services Limited reports FY24 profit of Rs.122.66 Crores

A meeting of the Muthoot Capital Services Limited (MCSL), one of India's fastest growing NBFCs and the listed entity of Muthoot Pappachan Group, (also known as Muthoot Blue), was held on 23rd May 2024 to consider and approve the audited standalone results for the year ended March 31, 2024. The company posted a net profit of INR11.68 crores, for the quarter March 31, 2024 recording a growth of 17% from Q3.

As per the unaudited financial results and as approved by the Board of Directors, in year on year comparison with same period of last financial year, the net profit increased from INR 78.68 Crores to INR 122.66 crores, recording an increased growth of 55% from the same period last year.

The company disbursed loans amounting to INR 1438.42 crores during the year. The total AUM (Assets under Management) reached INR 2018.17 crores as of March 31, 2024.

Commenting on the results, Mr. Thomas George Muthoot, Managing Director, Muthoot Capital Services Limited said, "FY 23-24 was a year of resurgence for MCSL where we registered very strong performance on all fronts. Our disbursements grew 9% y-o-y to reach INR 1438 crs, our GNPA reduced by over 50% and we registered all time high PAT of INR 122 crs. All these were made possible due to a carefully articulated strategy, meticulous planning, and voracious execution. We have made significant investments in building inhouse IT and Data science capabilities which augurs well for our business. The results are a testimony to the dedication and hard work of our talented team who have remained steadfast in our mission to deliver value and excellence in all aspects of business. We are grateful for the unwavering support of our shareholders, customers and partners and we remain committed to delivering sustainable growth and value creation in the quarters to come."

Mr. Mathews Markose, Chief Executive Officer, Muthoot Capital Services Limited said, "Throughout our journey in the last fiscal, we remined steadfast on our Strategic Objectives. Our objectives center around AUM growth with a healthy ROA, growth in market share, diversifying into a multiproduct company, effectively using the network within the group for customer acquisition, strengthening our asset quality, Digital transformation, Cross sell and upsell on existing base, Being an employer of choice and be able to attract talent and creating an organization culture of constant renewal. Looking back, we have ticked all the boxes and are extremely happy with progress made thus far. MCSL registered all time high profits and ROA and it is a testimony to our commitment to the cause. We are looking at a CAGR of 35% in the coming year.

Shares of Muthoot Capital Services Limited was last trading in BSE at Rs. 279.00 as compared to the previous close of Rs. 290.45. The total number of shares traded during the day was 5082 in over 430 trades.

The stock hit an intraday high of Rs. 290.00 and intraday low of 273.50. The net turnover during the day was Rs. 1431088.00.

Source : Equity Bulls


MuthootCapitalServices INE296G01013 Q4FY24 FY2024 ResultUpdate FY24