Muthoottu Mini Financiers Limited

Incorporate in 1998, Muthoottu Mini is an NBFC company (non-deposit) involved in the gold loan business lending money against thepledge of household gold jewelry. The company's Gold Loan portfolio as on March 31, 2020, comprises 4.37 lakhs loans aggregating to Rs 1645 Cr. which is 97.26% of its total loans. The company has introduced an online gold loan product wherein the customer has to come to the branch only for the initial appraisal and subsequent disbursement is done online based on the customer's request during the maximum period of one year. The company also offers microfinance loans, unsecured loans to the joint liability group of women customers (minimum of 5 persons) who require funds to carry out their business activities. In addition to the loan business, the company also offers depository participant services, money transfer services, insurance broking services, PAN card related services, and travel agency services. The company employs 3,109 persons and had a network of 785 branches as of June 30, 2020. The issue is rated IND BBB (outlook stable) by India Ratings and Research Pvt Ltd. This rating indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk. But current time is very tough for finance sector. So we give NEUTRAL rating to this NCD offer.

• 1 Nizzy Mathew
• 2 Mathew Muthutto