|Stock Name : Muthooth finance limited /Tips Open||Buy : 1,143.90||Posted Date : July 3, 2020|
|Stopless/Horizon : 1005/2Months||Target : 1230||Results Achieved (Yes/No) :|
Muthoot Finance limited is a Non-Banking Financial Company (NBFC), it wasinitially set up as a private limited company in 1997 and in 2008, Muthoot was reconstituted as a public limited company.
Muthoot is a Large Cap company with a market capital of Rs 45257.06 Crore.
Muthoot provides finance against used household gold jewellery.In addition to financing for gold, Muthootoffers various other financing services including foreign exchange services, money transfers, wealth management services, travel and tourism services through their subsidiaries.
Muthoot Finance is the flagship company of the Muthoot group (the group is in the hospitality, healthcare, media, education, information technology, foreign exchange, insurance distribution, and money transfer businesses).
Muthoot Finance has continued its leadership position in the gold financing. The company has a large base with over 4,500 branches across Indiawhich has supports its market share of >45% among the NBFCs carrying out gold loan business.
The company’s gold AUM(Assets under management)grew by 16% in fiscal 2019 to reach Rs 33,585 crore by the end of March 2019 and further to Rs. 37,724 crores as of December 31, 2019.
As of December 31, 2019, the company’s operating efficiency (indicated in terms of gold AUM per branch) remains high at Rs 8.3 crore which is higher than previous year (Rs 7.2 crore).
Over the same period, gold holding increased to 173 tonnes from 166 tonnes.
In fiscal 2019, Muthoot’sconsolidated Profit After Taxand total income increased to Rs 2103 crore and Rs 7601 crore compared to previous fiscal’s PAT and total income which was Rs 1844 crore and Rs 6782 crore respectively.
As on 31-03-2020, the Muthoot Financehas a total of 401,037,326 shares outstanding.
Mr. M.G. George Muthoot is the Chairman and George Alexander Muthoot is the Managing Director of Muthoot Finance limited.
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