02-Nov-2026 08:31:45
MUTHOOTFINGeneral news
CLSA ON MUTHOOT FINANCE ; MAINTAIN OUTPERFORM | TP CUT TO ₹3,500 (CMP ₹2,409)
• Q2 FY27 PAT beats estimates by 14%, driven by stronger NII. • NII UP 23% QoQ, supported by 9% AUM growth and 150 bps yield expansion. • Gold loan tonnage growth and customer additions accelerated during Q2. • Stage 2 & 3 loans increased due to missed payments on newer short-tenure products. • Management sees no underlying stress; expects RoE of 23% in FY28 and 21% in FY29. • Valuation at 8x FY28 P/E offers attractive risk-reward.
MUTHOOT FINANCE LIMITED