Key Strengths

• Strong Group Support: The Company benefits from its association with the Muthoot Pappachan Group (MPG), a
  140-year-old, reputable business house with over 3,600 branches across India. Muthoot Fincorp Limited (MFL) and
  its promoter group hold nearly 100% stake in the company. As of September 30, 2024, the Muthoot Pappachan
  Group’s four key financial services companies (MFL, MML, MCSL, and MHFCL) had a combined AUM of ₹45,463
  crore.
• Adequate Capitalization: The Issuer maintained a healthy net worth of ₹366 crore, supported by internal accruals
  and MFL’s demonstrated ability to infuse capital. The parent company has consistently injected equity. The capital
  adequacy ratio (CAR) stood at 23.3% as of September 2024.
• Liquidity: As of September 2024, the company reported no negative cumulative mismatch across all time buckets.
  Cash and cash equivalents of approximately ₹222 crore provide sufficient coverage for the next three months’
  liabilities and operating expenses.
• Profitability: Profit after tax increased by 34% in FY24 and has maintained consistent growth in H1 FY25. Net
  interest margin (NIM) is 7.6%.
• Stable Asset Quality: Gross non-performing assets (GNPA) have remained stable between 0.8% and 1% over the
  past two and a half years. Collection efficiency has been approximately 99% over the last 12 months.