The general evaluation of MUTHOOT FINANCE LTD. (IN), a company active in the Speciality Finance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 9, 2021, the closing ...
MUTHOOT FINANCE: Healthy Gold loan growth; gold auctions still minuscule (MUTH IN, Mkt Cap USD9b, CMP INR1660, TP INR1900, 14% Upside, Buy) PAT (in line) grew by 11% YoY and 2% QoQ to INR9.94b. Despite higher-than-estimated provisions, lower-than-estimated interest expenses (driven by lower CoB), and benefits of lower operating expenses led to an in line performance. It posted an OPEX beat of 6% - OPEX declined by 2% YoY, but grew 10% QoQ to INR4.4b. The cost ratio declined by 80bp YoY t...
(MUTH IN, Mkt Cap USD8.4b, CMP INR1547, TP INR1825, 18% Upside, Buy) PAT grew by ~16% YoY, but fell 2% QoQ to INR9.7b (~9% miss) in 1QFY22. This was driven by a miss on NII (down 4% QoQ due to lower yields) and slightly mitigated by lower opex (down 23% QoQ). Core Gold loans continued to exhibit resilience, with the portfolio remaining flat QoQ (up 29% YoY), despite muted Gold loan demand and disruption in branch operations during 1QFY22. The deterioration in standalone GS3 was along exp...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
MUTHOOT FINANCE: Strong performance on growth; yields higher (MUTH IN, Mkt Cap USD4.2b, CMP INR747, TP INR800, 7% Upside, Neutral) PAT increased 66% YoY to INR8.03b (26% beat) in 3QFY20. The quarter was driven by strong AUM growth (backed by large debt capital raise) and a yield improvement (largely driven by higher penal interest). AUM grew 7% QoQ/19% YoY (best growth in several quarters) to INR385b. Yields increased 100bp QoQ/370bp YoY to 24.9% – the highest in the past 11 quarters. We...
MUTHOOT FINANCE: Tepid quarter on growth, but outlook betterMUTHOOT FINANCE: Tepid quarter on growth, but outlook better(MUTH IN, Mkt Cap USD3.6b, CMP INR650, TP INR715, 10% Upside, Neutral)** 2QFY20 PBT increased 41% YoY to INR10.5b, driven by one-off strong GNPL recoveries, which led to income of INR2b. Excluding this one-time income, PBT grew 14% YoY to INR8.5b. PAT for the quarter was INR8.6b, driven by 18% tax rate.** Company took a cautious stance on growth due to tightness in liquidity. A...
Muthoot Finance: Stable operating performance, but liquidity remains tight (MUTH IN, Mkt Cap USD3.4b, CMP INR600, TP INR630, 5% Upside, Neutral) 1QFY20 PAT grew 8% YoY to INR5.3b (in-line), driven by stable loan growth, decline in margins and modest sequential increase in GNPLs. Standalone AUM increased 5% QoQ/16% YoY to INR358b, in line with the trend witnessed over the past few quarters. Consol. AUM grew faster at 18% YoY to INR402b, driven by stronger growth in subsidiaries. yield...
Muthoot Finance: AUM growth strong but asset quality disappoints (MUTH IN, Mkt Cap USD3.1b, CMP INR547, TP INR560, 2% Upside, Neutral) Muthoot Finance's (MUTH) 4QFY19 PAT grew 1% YoY to INR5.1b (2% beat). The quarter was characterized by a pick-up in gold loan AUM growth offset by higher delinquencies. Standalone AUM increased 5% QoQ/18% YoY to INR342b - the highest YoY growth in the past 25+ quarters. Growth was driven by both volume and value - gold stock holdings were up 9% YoY to 16...
Muthoot Finance: Gold loan business steady; Subsidiaries continue to gain share (muth IN, Mkt Cap USD2.7b, CMP INR484, TP INR500, 3% Upside, Neutral) Muthoot Finance’s (MUTH) PAT grew 1% YoY to INR4.9b (3% miss) driven by muted growth in the topline and one-off taxes to the tune of INR224m (as adjustment for the prior year). Adjusted for one-off taxes, PAT was in line. Standalone AUM was flat QoQ (up 15% YoY) at INR325b. However, its subsidiaries had a strong quarter with their combined ...
Muthoot Finance – 2QFY19: Growth picks up sharply; asset quality improves (MUTH IN, Mkt Cap USD2.7b, CMP INR472, TP INR500, 6% Upside, Neutral) Muthoot Finance (MUTH) reported a 9% YoY growth in PAT to INR4.8b (5% miss) in 2QFY19, driven by a sharp pick-up in loan growth and QoQ GNPL reduction. AUM grew 4% QoQ/17% YoY to INR323b – the strongest YoY growth in the past 25 quarters. The past two months witnessed a slowdown in disbursements; yet management expects 15% AUM growth for FY19. ...
Muthoot Finance: Good operating performance; Ind-AS impact neutral (MUTH IN, Mkt Cap USD2.4b, CMP INR437, TP INR490, 12% Upside, Neutral) Muthoot Finance's (MUTH) 1QFY19 PAT grew 43% YoY to INR4.9b, driven by a pick-up in loan growth, a reduction in GNPLs and a lower C/I ratio. Standalone AUM grew 6% QoQ/10% YoY to INR310b. This quarter marked the sharpest sequential loan growth since demonetization. Growth was driven by both volume (gold pledged with the company stood at 161 tonnes v/s...
Muthoot Finance: PAT misses estimate as growth remains tepid; asset quality deteriorates (MUTH IN, Mkt Cap USD2.5b, CMP INR414, TP INR470, 14% Upside, Neutral) Muthoot Finance's (MUTH) 4QFY18 PAT grew 40% YoY to INR4.5b (8% miss), driven by high opex and credit costs. AUM grew 3% QoQ/7% YoY to INR291b. NII declined 7% YoY, driven by 110bp YoY contraction in margins. Yields came in at 22% in the quarter. MUTH has grown its collections team as a strategy to focus more on repayments/renewa...
Muthoot Finance: Growth remains elusive; strong margins lead to PAT beat (MUTH IN, Mkt Cap USD2.6b, CMP INR424, TP INR475, 12% Upside, Neutral) Muthoot Finance’s (MUTH) 3QFY18 PAT grew 59% YoY to INR4.6b (6% beat), driven by strong margins and controlled opex. AUM grew 2.4% QoQ / 5% YoY to INR283b – the best sequential growth since demonetization. NII was up a staggering 47% YoY, driven by 470bp improvement in margins off a low base. Yields came in at 22% in the quarter v/s average of ~...
​Muthoot Finance: Growth remains elusive; quarter driven by one-offs(MUTH IN, Mkt Cap USD2.9b, CMP INR490, TP INR550, 12% Upside, Downgrade to Neutral)2QFY18 PAT grew 53% YoY (+29% QoQ) to INR4.5b (15% beat). Although revenue came in 31% above estimate, it was largely offset by higher-than-expected provisioning.AUM was flat at INR276b. We note that AUM in east grew 15%/13% YoY/QoQ to INR22.1b, while that in west, north and south remained stagnant sequentially.NII grew 52%/36% YoY/QoQ to INR11....
​Muthoot Finance: Strong quarter; operating leverage benefits playing out(MUTH IN, Mkt Cap USD2.8b, CMP INR458, TP INR550, 20% Upside, Buy)Muthoot Finance’s (MUTH) 1QFY18 PAT grew 30% YoY (and 9% QoQ) to INR3.51b (in-line). Though there was a 5% revenue miss, it was offset by lower-than-expected provisioning. AUM growth remained anemic at 8% YoY (2% QoQ) to INR278b. The management has guided ~10% AUM growth in gold loans for the year, with potential upside, given the improvement in overall e...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.