Muthoot Fincorp Limited’s footprint spans across the country, with 3,619 branches in 24 states, including the union territory of Andaman and Nicobar Islands and the national capital territory of Delhi. These branches are supported by a committed workforce of 19,008 employees, including 110 contracted experts, ensuring that the company’s services are readily accessible to those in need.
Diverse Gold Loan Products:
The company offers a range of gold loan products, catering to the unique needs of its customers. Some of these products include:
- Muthoot Blue Guide Gold Loan
- Muthoot Blue Bright Gold Loan
- Muthoot Blue Power Gold Loan
- Muthoot Blue Bigg Gold Loan
- Muthoot Blue Smart Gold Loan
- 24×7 Express Gold Loan
Beyond Gold Loans:
While gold loans are the company’s primary focus, Muthoot Fincorp extends its services to include foreign exchange conversion and money transfer services. As sub-agents of registered money transfer agencies, they facilitate international financial transactions, offering a holistic financial solution.
The company’s vision extends beyond the realm of finance. Muthoot Fincorp is actively involved in the generation and sale of wind energy through its wind farms located in Tamil Nadu. Additionally, they explore opportunities in the real estate sector through joint ventures with land developers, making it a versatile player in the Indian business landscape.
Muthoot Fincorp Limited has received a notable CRISIL AA-/Stable rating for the Non-Convertible Debentures (NCDs) proposed to be issued. This rating underscores the company’s financial stability and reliability.
The driving force behind Muthoot Fincorp Limited includes Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot, who have played pivotal roles in the company’s growth and success.
Strong Financial Performance: Muthoot Fincorp’s financials reflect its robust growth. In the financial year ending on March 31, 2023, the company achieved an 18.28% increase in revenue and an impressive 56.69% rise in profit after tax (PAT) compared to the previous year.
Utilization of Funds:
The company’s latest fundraising initiative aims to utilize the net proceeds for the following purposes:
- Working Capital: 75% of the funds raised will be allocated to enhance working capital, ensuring seamless operations and continued growth.
- General Corporate Purposes: The remaining 25% will support various general corporate needs, further strengthening the company’s position in the market.
Muthoot Fincorp Limited is more than just a financial institution; it’s a partner in the journey of individuals and businesses, providing the means to overcome financial challenges. With a strong track record, diversified services, and ambitious growth plans, this NBFC is poised to remain a key player in India’s financial landscape.