Muthoot Finance Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:09 am

Market Cap	83,330 Cr.
Current Price	2,076
High / Low	2,157/1,262
Stock P/E	18.9
Book Value	640
Dividend Yield	1.16 %
ROCE	13.2 %
ROE	17.9 %
Face Value	10.0
PEG Ratio	5.48

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
My Money Securities Ltd	76.5 Cr.	45.6	69.2/0.00	5.90	18.5	0.00 %	12.0 %	11.3 %	10.0
ICDS Ltd	81.5 Cr.	62.6	76.2/32.5	51.3	22.2	0.00 %	9.12 %	7.69 %	10.0
HCKK Ventures Ltd	52.8 Cr.	142	154/77.4	293	11.5	0.00 %	8.17 %	6.44 %	10.0
Ujjivan Financial Services Ltd	7,179 Cr.	590	612/463	8.75	299	0.59 %	10.3 %	32.1 %	10.0
SIL Investments Ltd	712 Cr.	671	920/400	21.6	2,811	0.37 %	2.07 %	1.51 %	10.0
Industry Average	25,788.56 Cr	1,051.79		45.33	3,001.12	0.44%	10.51%	13.70%	8.31

All Competitor Stocks of

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Revenue	2,830	2,868	2,670	2,504	2,498	2,660	2,853	2,999	3,060	3,168	3,409	3,704	4,117
Interest	979	953	921	942	903	914	941	1,064	1,156	1,212	1,223	1,351	1,550
Expenses	501	527	450	473	426	531	690	635	572	566	753	849	852
Financing Profit	1,350	1,388	1,299	1,089	1,169	1,214	1,223	1,300	1,332	1,390	1,434	1,504	1,715
Financing Margin %	48%	48%	49%	44%	47%	46%	43%	43%	44%	44%	42%	41%	42%
Other Income	3	4	8	5	6	7	10	28	14	8	9	6	9
Depreciation	13	14	16	13	14	15	17	13	15	17	19	18	16
Profit before tax	1,340	1,378	1,292	1,082	1,161	1,207	1,216	1,315	1,330	1,380	1,424	1,492	1,708
Tax %	26%	25%	26%	26%	25%	25%	26%	26%	26%	26%	26%	28%	27%
Net Profit	994	1,029	960	802	867	902	903	975	991	1,027	1,056	1,079	1,251
EPS in Rs	24.77	25.64	23.93	19.98	21.60	22.46	22.49	24.29	24.69	25.59	26.31	26.87	31.16
Gross NPA %			2.99%	2.13%		2.58%	3.79%	4.26%	4.01%	3.62%	3.28%	3.98%	4.30%
Net NPA %			2.68%	1.90%		2.31%	3.40%	3.82%	3.59%	3.23%	2.90%	3.48%	3.68%

Last Updated: December 5, 2024, 5:53 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 5, 2024, 5:53 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Revenue	5,387	4,947	4,325	4,875	5,746	6,267	6,878	8,715	10,557	11,082	10,515	12,635	14,398
Interest	2,823	2,630	2,108	2,260	2,298	1,935	2,243	2,796	3,699	3,845	3,709	4,667	5,336
Expenses	1,007	1,077	1,105	1,241	1,479	1,510	1,518	1,827	1,818	1,891	2,110	2,513	3,019
Financing Profit	1,557	1,241	1,112	1,374	1,969	2,822	3,117	4,092	5,040	5,347	4,696	5,455	6,042
Financing Margin %	29%	25%	26%	28%	34%	45%	45%	47%	48%	48%	45%	43%	42%
Other Income	0	0	0	0	0	66	2	8	17	16	29	59	33
Depreciation	45	47	84	58	48	44	42	43	51	54	58	66	71
Profit before tax	1,511	1,194	1,028	1,317	1,921	2,845	3,077	4,057	5,007	5,309	4,666	5,449	6,004
Tax %	34%	35%	35%	39%	39%	38%	36%	26%	26%	26%	26%	26%
Net Profit	1,004	780	671	810	1,180	1,778	1,972	3,018	3,722	3,954	3,474	4,050	4,413
EPS in Rs	27.02	20.99	16.85	20.29	29.53	44.43	49.22	75.26	92.78	98.53	86.52	100.87	109.93
Dividend Payout %	17%	29%	36%	30%	20%	23%	24%	20%	22%	20%	25%	24%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-22.31%	-13.97%	20.72%	45.68%	50.68%	10.91%	53.04%	23.33%	6.23%	-12.14%	16.58%
Change in YoY Net Profit Growth (%)	0.00%	8.34%	34.69%	24.96%	5.00%	-39.77%	42.13%	-29.72%	-17.09%	-18.37%	28.72%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	13%
3 Years:	6%
TTM:	24%

Compounded Profit Growth
10 Years:	18%
5 Years:	15%
3 Years:	3%
TTM:	17%

Stock Price CAGR
10 Years:	27%
5 Years:	23%
3 Years:	12%
1 Year:	41%

Return on Equity
10 Years:	21%
5 Years:	22%
3 Years:	19%
Last Year:	18%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:01 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	372	372	398	399	399	400	401	401	401	401	401	401	401
Reserves	3,364	3,893	4,686	5,220	6,117	7,412	9,392	11,171	14,838	17,943	20,660	23,889	25,282
Borrowings	24,081	19,478	19,436	18,567	20,985	21,167	26,833	37,130	45,946	49,811	49,734	58,783	72,343
Other Liabilities	1,600	1,852	2,250	2,862	3,211	1,813	1,443	1,758	2,280	2,399	1,824	1,955	2,491
Total Liabilities	29,416	25,594	26,769	27,049	30,713	30,792	38,069	50,460	63,465	70,555	72,620	85,028	100,518
Fixed Assets	289	313	257	218	208	200	193	228	247	267	272	350	352
CWIP	14	14	7	9	10	6	23	29	38	46	67	88	101
Investments	82	35	38	98	209	395	983	1,438	1,590	1,320	1,317	2,268	2,698
Other Assets	29,031	25,232	26,467	26,723	30,286	30,191	36,871	48,765	61,589	68,921	70,964	82,322	97,366
Total Assets	29,416	25,594	26,769	27,049	30,713	30,792	38,069	50,460	63,465	70,555	72,620	85,028	100,518

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-3,952	5,726	-460	214	-1,710	-87	-3,858	-4,458	-7,477	-1,142	-1,902	-9,302
Cash from Investing Activity +	-33	-3	-16	-67	-134	-194	-585	-429	48	408	188	-739
Cash from Financing Activity +	4,795	-5,107	254	-1,204	2,457	-554	5,701	8,678	9,041	2,796	-1,036	8,649
Net Cash Flow	809	617	-222	-1,058	613	-834	1,258	3,791	1,612	2,062	-2,750	-1,392

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-23.00	-18.00	-18.00	-17.00	-19.00	-20.00	-25.00	-36.00	-44.00	-48.00	-47.00	-56.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
ROE %	30%	20%	14%	15%	19%	25%	22%	28%	28%	24%	18%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	73.37%	73.37%	73.37%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%
FIIs	13.67%	12.13%	10.96%	9.93%	10.00%	9.37%	8.70%	8.12%	8.34%	8.33%	8.68%	9.85%
DIIs	8.48%	9.67%	10.48%	11.76%	12.02%	12.66%	13.73%	14.64%	14.61%	14.72%	14.55%	13.30%
Public	4.48%	4.83%	5.20%	4.96%	4.62%	4.61%	4.21%	3.87%	3.72%	3.59%	3.41%	3.50%
No. of Shareholders	2,26,044	2,42,216	2,59,911	2,91,646	2,66,217	2,72,148	2,46,597	2,17,233	2,03,284	1,94,951	1,82,990	2,98,304

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI Focused Equity Fund	15,300,000	7.39	2267.31	1,819,568	2024-12-21	740.86%
SBI Equity Hybrid Fund	9,000,000	2.17	1333.71	1,819,568	2024-12-21	394.62%
SBI Multicap Fund	3,300,000	3.54	489.03	1,819,568	2024-12-21	81.36%
SBI Large & Midcap Fund	2,647,601	2.28	392.35	1,819,568	2024-12-21	45.51%
ICICI Prudential India Opportunities Fund	2,279,566	2.45	337.81	1,819,568	2024-12-21	25.28%
ICICI Prudential Balanced Advantage Fund	2,073,429	0.59	307.26	1,819,568	2024-12-21	13.95%
ICICI Prudential Multi Asset Fund	1,933,035	1.03	286.46	1,819,568	2024-12-21	6.24%
ICICI Prudential Banking and Financial Services	1,879,026	3.97	278.45	1,819,568	2024-12-21	3.27%
SBI Flexi Cap Fund	1,819,568	1.45	269.64	1,819,568	2024-12-21	0%
ICICI Prudential Value Discovery Fund	1,739,154	0.73	257.73	1,819,568	2024-12-21	-4.42%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	107.72	89.99	100.10	94.84	78.30
Diluted EPS (Rs.)	107.71	89.98	100.05	94.76	78.20
Cash EPS (Rs.)	113.58	93.36	102.19	96.87	80.49
Book Value[Excl.RevalReserv]/Share (Rs.)	641.51	551.82	476.84	392.82	299.26
Book Value[Incl.RevalReserv]/Share (Rs.)	641.51	551.82	476.84	392.82	299.26
Revenue From Operations / Share (Rs.)	375.17	296.37	303.60	287.41	241.47
PBDIT / Share (Rs.)	286.92	229.42	242.59	231.78	186.83
PBIT / Share (Rs.)	284.62	227.47	240.84	230.10	185.35
PBT / Share (Rs.)	149.37	122.63	134.80	127.90	106.23
Net Profit / Share (Rs.)	111.28	91.41	100.44	95.19	79.01
NP After MI And SOA / Share (Rs.)	107.71	89.98	100.08	94.83	78.25
PBDIT Margin (%)	76.47	77.41	79.90	80.64	77.36
PBIT Margin (%)	75.86	76.75	79.32	80.05	76.75
PBT Margin (%)	39.81	41.37	44.40	44.50	43.99
Net Profit Margin (%)	29.66	30.84	33.08	33.11	32.72
NP After MI And SOA Margin (%)	28.71	30.36	32.96	32.99	32.40
Return on Networth / Equity (%)	17.22	16.67	21.38	24.42	26.52
Return on Capital Employeed (%)	43.42	24.11	28.87	29.19	31.70
Return On Assets (%)	4.48	4.50	5.26	5.54	5.71
Long Term Debt / Equity (X)	0.00	0.70	0.72	0.98	0.92
Total Debt / Equity (X)	2.72	2.57	2.90	3.24	3.46
Asset Turnover Ratio (%)	0.17	0.14	0.15	0.17	0.18
Current Ratio (X)	1.36	1.88	1.77	1.84	1.73
Quick Ratio (X)	1.36	1.88	1.77	1.84	1.73
Dividend Payout Ratio (NP) (%)	20.42	22.22	19.97	0.00	34.48
Dividend Payout Ratio (CP) (%)	19.99	21.75	19.63	0.00	33.85
Earning Retention Ratio (%)	79.58	77.78	80.03	0.00	65.52
Cash Earning Retention Ratio (%)	80.01	78.25	80.37	0.00	66.15
Interest Coverage Ratio (X)	2.12	2.19	2.29	2.27	2.36
Interest Coverage Ratio (Post Tax) (X)	1.82	1.87	1.95	1.93	2.00
Enterprise Value (Cr.)	121977.91	87557.38	97948.65	90952.44	59504.10
EV / Net Operating Revenue (X)	8.10	7.36	8.04	7.89	6.14
EV / EBITDA (X)	10.59	9.51	10.06	9.78	7.94
MarketCap / Net Operating Revenue (X)	3.94	3.30	4.38	4.20	2.53
Retention Ratios (%)	79.57	77.77	80.02	0.00	65.51
Price / BV (X)	2.36	1.81	2.84	3.11	2.07
Price / Net Operating Revenue (X)	3.94	3.30	4.38	4.20	2.53
EarningsYield	0.07	0.09	0.07	0.07	0.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 2,190.30

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 5.51% compared to the current share price 2,076.00

Intrinsic Value of as of December 22, 2024 is: 2,265.88

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 9.15% compared to the current share price 2,076.00

Last 5 Year EPS CAGR: 3.45%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 29.66%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 43.42% (Industry Average ROCE: 10.51%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 17.22% (Industry Average ROE: 13.7%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 1.82
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.36
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 18.9 (Industry average Stock P/E: 45.33)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 2.72
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Muthoot Finance Ltd. is a Public Limited Listed company incorporated on 14/03/1997 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L65910KL1997PLC011300 and registration number is 011300. Currently Company is involved in the business activities of Other financial service activities, except insurance and pension funding activities. Company’s Total Operating Revenue is Rs. 11082.32 Cr. and Equity Capital is Rs. 401.35 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Non-Banking Financial Company (NBFC)	Muthoot Chambers, 2nd Floor, Opposite Saritha Theatre Complex, Kochi Kerala 682018	investorrelations@muthootfinance.com http://www.muthootfinance.com

Management
Name	Position Held
Mr. George Jacob Muthoot	Chairman & Wholetime Director
Mr. George Alexander Muthoot	Managing Director
Mr. George Thomas Muthoot	Whole Time Director
Mr. Alexander George	Whole Time Director
Mr. George Alexander	Whole Time Director
Mr. George Muthoot Jacob	Whole Time Director
Mr. George Muthoot George	Whole Time Director
Mr. Chamacheril Mohan Abraham	Independent Director
Mr. Ravindra Pisharody	Independent Director
Mrs. Usha Sunny	Independent Director
Mr. Vadakkekara Anthony George	Independent Director
Mr. Jose Mathew	Independent Director
Mr. Abraham Chacko	Independent Director
Mr. Joseph Korah	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹2190.30, which is 5.51% higher than the current market price of ₹2,076.00. The stock has a market capitalization of 83,330 Cr. and recorded a high/low of 2,157/1,262 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹25,282 Cr and total liabilities of ₹100,518 Cr.

What is the Market Cap of ?

The Market Cap of is 83,330 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 2,076.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 2,157/1,262.

What is the Stock P/E of ?

The Stock P/E of is 18.9.

What is the Book Value of ?

The Book Value of is 640.

What is the Dividend Yield of ?

The Dividend Yield of is 1.16 %.

What is the ROCE of ?

The ROCE of is 13.2 %.

What is the ROE of ?

The ROE of is 17.9 %.

What is the Face Value of ?

The Face Value of is 10.0.