Muthoot Finance Soars: Geojit Sets Bullish Target of ₹2,512

Geojit Financial Services has reaffirmed its "accumulate" rating on Muthoot Finance, India's largest gold loan NBFC, with an upgraded target price of ₹2,512. The recommendation comes on the heels of Muthoot's strong Q3FY25 performance, which saw a 34% YoY growth in consolidated loan AUM to ₹1,11,308 crore. The company's gold loan portfolio expanded by 34% YoY to ₹92,964 crore, driven by increased demand during the festive season and a slowdown in unsecured lending. Muthoot's asset quality also improved, with the Gross loan asset stage 3 ratio decreasing to 4.2% in Q3FY25. The company's strategic branch expansion and digital platform adoption have further strengthened its market position.

 

Source: Moneycontrol