Muthoot Microfin Ltd - Key Business Update for Q4 FY2024

Muthoot Microfin Limited has announced the Key Business Update for Quarter and Fiscal Year Ended March 31, 2024.

Business Review: Throughout the quarter and fiscal year ending on March 31, 2024, Company have observed substantial growth. FY24 marked a healthy mix of credit expansion, rising margins and declining credit cost. Asset quality remained robust during the year. Our key focus areas for the next year include Assets Under Management (AUM) Growth, Asset Quality, Digital inclusion, Customer retention and geographic expansion.

Assets under Management (AUM): AUM expanded by 32% year-over-year (YoY), reaching Rs. 12,194 crore as of March 31, 2024, compared to Rs. 9,208 crore as of March 31, 2023.

Disbursement: Disbursement surged by 32% YoY to Rs. 10,662 crore during the fiscal year 2023-24, up from Rs. 8,104 crore in the fiscal year 2022-23. Crossed highest ever disbursement in a single fiscal year.

Collection Efficiency: Collection Efficiency stands at 98.4% for the fiscal year 2023-24, up 260 bps from 95.8% in the fiscal year 2022-23.

Funds Raised: Funds availed Rs. 9,242 crore through various instruments during the fiscal year 2023-24. The Company has un-availed sanctions of 2,112 Crores during the closure of the Financial Year. Concluded a landmark ECB deal, raising USD 75 million (Rs. 622 crores) from multiple international banks. The deal provides cheaper funds and also helps in achieving better asset - liability mix with 3.3 year loan timeframe.

Network: Total branch count 1,508 growing by 29% YoY opening doors to financial inclusion and empowering lives. Entered Telangana and expanded our footprint is many states including Uttarakhand and Himachal.

Active Customers: Active customer count expanded by 21% YoY, reaching 33.5 lakh customers as of March 31, 2024, compared to 27.7 lakh customers as of March 31, 2023. Added 10.0 lakh new customer to Muthoot Microfin during the fiscal.

App Downloads: Mahila Mitra app downloads (cumulative) have now reached to 16.3 lakh customers.

Please note that all the numbers mentioned above as of March 31, 2024 are provisional unaudited numbers. It is subject to review and audit by the Statutory Auditors of the Company and approval by the Audit Committee & the Board of Directors of the Company.

Shares of Muthoot Microfin Limited was last trading in BSE at Rs. 237.40 as compared to the previous close of Rs. 233.35. The total number of shares traded during the day was 62322 in over 1751 trades.

The stock hit an intraday high of Rs. 247.80 and intraday low of 234.55. The net turnover during the day was Rs. 14869976.00.

Source : Equity Bulls

Keywords

MuthootMicrofin INE046W01019 MicrofinanceInstitutions KeyBusinessUpdate Q4 FY2024