New Delhi: Muthoot Finance Ltd., India’s largest gold loan NBFC, reported its highest-ever consolidated loan assets under management (AUM) and profit after tax (PAT) for the first half of any financial year, underscoring robust growth across its core and subsidiary businesses. As of September 30, 2025, consolidated loan AUM stood at ₹1,47,673 crore, marking a 42% year-on-year increase, while consolidated PAT surged 74% YoY to ₹4,386 crore.
The company’s standalone performance was equally impressive, with standalone loan AUM reaching ₹1,32,305 crore, up 47% YoY, and standalone PAT rising 88% YoY to ₹4,391 crore. Gold loan AUM hit a record ₹1,24,918 crore, reflecting a 45% YoY growth, driven by favorable regulatory changes, higher gold prices, and increased demand for secured credit.
Chairman George Jacob Muthoot said, “We are pleased to report sustained growth momentum in our consolidated loan assets, driven by the robust performance of our core gold loan business. Our leadership in this segment reflects the deep trust customers place in us and the effectiveness of our customer-centric approach.”
Managing Director George Alexander Muthoot added, “We are upgrading our FY26 gold loan growth guidance from 15% to 30–35%. The resilience of our business model and continued customer trust are evident in our performance. We are accelerating digital transformation and expanding our non-gold loan portfolio to maintain a balanced growth trajectory.”
Key Financial Highlights (H1 FY26 vs H1 FY25)
- Consolidated Loan AUM: ₹1,47,673 crore vs ₹1,04,149 crore (↑42%)
- Standalone Loan AUM: ₹1,32,305 crore vs ₹90,197 crore (↑47%)
- Consolidated PAT: ₹4,386 crore vs ₹2,517 crore (↑74%)
- Standalone PAT: ₹4,391 crore vs ₹2,330 crore (↑88%)
- Gold Loan AUM: ₹1,24,918 crore vs ₹86,164 crore (↑45%)
- Group Branch Network: 7,524 branches, up 6% YoY
Strategic Developments
- Raised USD 600 million via global bond issuance.
- Fitch Ratings upgraded Muthoot Finance’s long-term issuer credit rating from ‘BB’ to ‘BB+’ with a ‘Stable’ outlook.
- Opened 133 new branches across India in H1 FY26.
- Honored with the CSR Times Award for its NCD education and screening program in tribal villages of Koraput, Odisha.
Subsidiary Performance
Muthoot Homefin (India) Ltd.
- Loan AUM: ₹3,247 crore (↑33% YoY)
- Interest Income: ₹179 crore (↑46% YoY)
- PAT: ₹10 crore
- GNPA: 1.69%
- Equity infusion: ₹200 crore
Belstar Microfinance Ltd.
- Loan AUM: ₹7,715 crore
- Revenue: ₹840 crore
- Loss narrowed from ₹128 crore in Q1 to ₹32 crore in Q2
- Collection Efficiency: 99.08% (↑0.86% YoY)
- Opened 23 gold loan branches to diversify portfolio
Muthoot Money Ltd.
- Loan AUM: ₹6,393 crore (↑182% YoY)
- Revenue: ₹501 crore (↑244% YoY)
- PAT: ₹106 crore vs ₹5 crore loss in H1 FY25
- Equity infusion: ₹500 crore
- Branch Network: 997 (↑104 branches YoY)
Muthoot Insurance Brokers Pvt. Ltd.
- Premium Collection: ₹241 crore
- Revenue: ₹70 crore
- PAT: ₹23 crore
Asia Asset Finance PLC (Sri Lanka)
- Loan Portfolio: LKR 3,868 crore (↑48% YoY)
- Revenue: LKR 440 crore (↑40% YoY)
- PAT: LKR 40 crore (↑33% YoY)
Outlook
Muthoot Finance is optimistic about continued growth in FY26, supported by strong fundamentals, regulatory tailwinds, and digital innovation. The company aims to maintain non-gold loan AUM at 12–15% of its consolidated portfolio, with expansion in personal, home, and business loans. The microfinance sector is showing signs of recovery, and Muthoot is leveraging regulatory flexibility to diversify its offerings.
With a trusted brand, expanding branch network, and sustained investment in technology, Muthoot Finance is well-positioned to deliver long-term value and maintain its leadership in India’s secured lending space.
