BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
As Covid-19 second wave impact recede and economic activities gather pace, Muthoot Finance Ltd. recorded strong business momentum during Q2 FY22.
Notably, despite underlying asset price fluctuations, gold assets under managements grew 5% QoQ/18% YoY in commensurate with gold holdings per branch, customer accretion stood robust and tonnage growth was healthy.
Muthoot Finance clocked 18%YoY loan growth and traction in tonnage inched up QoQ.
While asset quality marginally deteriorated (stage-III: 1.85% versus 1.22%: Q1 FY22) with company doubling provisions QoQ, we reckon it’s a temporary phenomenon and that by virtue of business profile, Muthoot Finance successfully maintains 96-100% recoverability of the underlying asset.
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