Muthoot Capital Services Ltd (BOM:511766)

Q3 2026 Muthoot Capital Services Ltd Earnings Call Transcript

Jan 21, 2026 / 05:30 AM GMT

Release Date Price: ₹227.95 (-9.47%)

Transcript

Key Points

Positve

Muthoot Capital Services Ltd (BOM:511766) reported a strong Q3 with a 10% growth in the automobile sector, driven by GST rate cuts and the festive season.
The company has successfully shifted its focus towards self-sourcing, resulting in a 20-25% growth in its own business.
Significant tech investments have been made in the collection process, leading to improved slippage rates and reduced costs.
The company launched new products, including construction equipment finance, and plans to introduce a used two-wheeler product soon.
Retail FD book grew by 26 crores in the quarter, with a target to cross 100 crores by March.

Negative

The company's debt to equity ratio is high at 4.81x, indicating significant leverage.
Gross NPAs stood at 5.93%, with net NPAs at 3%, reflecting asset quality concerns.
Impairment expenses increased significantly to 54.59 crores, impacting profitability.
The company had to write off 14.09 crores from non-performing portfolios, indicating challenges in recoveries.
Despite growth in AUM, profitability remains a concern with profitless growth being highlighted by analysts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MUTH.NS - Muthoot Capital Services Ltd
Q3 2026 Muthoot Capital Services Ltd Earnings Call
Jan 22, 2026 / 05:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Muthooth Capital Services Limited, Q3 FY26 earnings conference call hosted by Ilara Securities India Private Limited.

As a reminder, all participant clients will be in the little lonely mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing, then 0 on a touchstone phone. Please note that this conference is being recorded. I now hand the conference over to M Shweta Dapdar from Ilara Securities India Private Limited.

Thank you and over to you, ma'am.

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