Muthoot Fincorp Limited

Started in 1997, Muthoot Fincorp Limited is a non-deposit taking NBFC. The company is primarily engaged in the business of offering personal and business loans which are secured by gold ornaments and jewellery. The gold loan product is available for personal and business purposes to meet short-term liquidity requirements of the individuals. As of December 2020, Company operates 3599 branches located across 23 states, including union territory of Andaman and Nicobar Islands and the national capital territory of Delhi and employed 16,470 employees including 236 contracted experts in its operations. Some of the Gold Loan products offered by the company are: 1. Muthoot Blue Guide Gold loan 2. Muthoot Blue Bright Gold loan 3. Muthoot Blue Power Gold loan 4. Muthoot Blue Big Gold loan 5. Muthoot Blue Smart Gold loan 7. 24x7 Express Gold loan In addition to the Gold loan business, the Company provides foreign exchange conversion and money transfer services as sub-agents of various registered money transfer agencies. Muthoot Fincorp is also engaged in the following business: 1. Generation and sale of wind energy through its wind farms located in Tamil Nadu; and 2. Real estate business through joint venture developers of the company-owned land parcels. The issue is rated CRISIL A (outlook stable) by CRISIL Ltd. This rating indicates that instruments with this rating are considered to have a adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. Coupon rates offered by company is very attractive in current time as interest rates are very low. But current time is very tough for finance sector and performance of company was also weak in FY20. So we give NEUTRAL rating to this NCD offer.

• 1 Thomas John Muthoot
• 2 Thomas George Muthoot
• 3 Thomas Muthoot