Muthoot Fincorp Limited NCDs Investment Opportunity

IPO Details

  • Opening Date
  • Close Date
  • Allotment Date
  • Listing Date
  • Face Value
  • Issue Price
  • Market Lot
  • Total Issue Size
  • October 11, 2024
  • October 24, 2024
  • October 25, 2024
  • October 11, 2024
  • 1000
  • 1000
  • 10
  • 250 crores
Muthoot Fincorp Limited NCDs Investment Opportunity
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How to Analyze an IPO: A Comprehensive Guide for Investors

Overview

Muthoot Fincorp Limited, a leading non-banking financial company (NBFC), has launched its Tranche II NCD (Non-Convertible Debenture) issue as part of its ₹25,000 lakh offering. With a strong presence in the Indian gold loan market, Muthoot Fincorp aims to raise funds for various corporate purposes, including loan refinancing, working capital needs, and other operational expenditures.

The company, incorporated in 1997 and headquartered in Trivandrum, Kerala, is known for offering quick and accessible gold loans. Muthoot Fincorp’s NCDs are rated “CRISIL AA-/Stable,” indicating a high level of safety and minimal credit risk. Investors in these NCDs can benefit from attractive coupon rates and secure investments backed by gold loan receivables. This Tranche II issue has a base size of ₹7,500 lakh, with a green shoe option of ₹17,500 lakh, bringing the total to ₹25,000 lakh.

The NCDs are set to open for subscription on October 11, 2024, with a closing date of  October 24, 2024, and will be listed on the Bombay Stock Exchange (BSE). The funds will help Muthoot Fincorp expand its loan portfolio, strengthen its financial position, and capitalize on growth opportunities in the NBFC sector.

As part of the Muthoot Pappachan Group, a diversified conglomerate with interests in finance, hospitality, and automotive services, Muthoot Fincorp has a legacy of trust and customer-centric financial services. Investors looking for steady returns in a secure and established company should consider this NCD issue as a viable investment option. However, as with all investments, prospective investors are encouraged to carefully review the prospectus and consult financial advisors before making any decisions.

This overview provides potential investors with the essential details needed to evaluate the Muthoot Fincorp Tranche II NCD offering.

Company Financial

Restated Summary Statement of Assets and Liabilities

Hyundai Motor India Limited - Restated Consolidated Statement of Assets and Liabilities As at June 30, 2024 As at June 30, 2023 As at March 31, 2024 As at March 31, 2023 As at March 31, 2022
Assets
Non-current assets
Property, plant and equipment 63,786.92 64,386.51 67,135.59 57,656.36 62,290.52
Capital work-in-progress 9,721.25 7,081.22 6,528.42 13,366.35 5,291.25
Right-of-use assets 6,134.07 560.8 6,183.42 577.65 662.96
Intangible assets 2,612.91 3,059.09 2,825.26 3,270.32 3,758.62
Other financial assets 629.21 546.31 624.12 516.97 493.98
Deferred tax assets (net) 9,896.71 8,755.07 9,477.90 8,265.99 6,156.74
Non-current tax assets (net) 7,012.78 6,212.66 6,886.39 6,146.71 2,081.53
Other non-current assets 3,031.11 2,215.73 2,590.92 2,313.36 2,046.57
Total non-current assets 1,02,824.96 92,817.39 1,02,252.02 92,113.71 82,782.17
Current assets
Inventories 28,882.93 35,943.73 33,156.29 34,224.09 28,811.20
Trade receivables 23,581.40 26,434.06 25,100.26 28,971.92 21,824.07
Cash and cash equivalents 45,042.88 64,630.48 9,732.15 1,77,411.47 1,41,388.42
Bank balance other than above 40,084.95 1,28,065.91 80,441.30 - -
Loans - - - 659.48 154.94
Other financial assets 3,718.15 3,003.44 3,439.24 4,539.58 3,005.15
Other current assets 9,567.12 6,153.82 9,371.19 7,813.17 5,614.63
Total current assets 1,50,877.43 2,64,231.44 1,61,240.43 2,53,619.71 2,00,798.41
Total assets 2,53,702.39 3,57,048.83 2,63,492.45 3,45,733.42 2,83,580.58
Equity and Liabilities
Equity
Equity share capital 8,125.41 8,125.41 8,125.41 8,125.41 8,125.41
Reserves and surplus 1,13,361.69 2,05,682.88 98,531.16 1,92,422.77 1,60,437.14
Total equity 1,21,487.10 2,13,808.29 1,06,656.57 2,00,548.18 1,68,562.55
Non-current liabilities
Borrowings 6,016.98 6,862.07 6,227.97 7,065.66 7,667.10
Lease liabilities 533.54 259.3 557.68 267.23 307.47
Provisions 8,671.35 8,270.03 8,467.39 8,037.65 7,743.02
Other non-current liabilities 11,968.21 10,119.09 11,610.97 9,759.55 7,378.07
Total non-current liabilities 27,190.08 25,510.49 26,864.01 25,130.09 23,095.66
Current liabilities
Borrowings 1,564.46 5,968.92 1,451.18 4,520.34 3,733.23
Lease liabilities 96.62 34.25 95.58 40.24 68.95
Total outstanding dues of micro enterprises and small enterprises 1,831.52 2,072.11 2,158.18 1,536.92 1,274.98
Total outstanding dues of creditors other than micro enterprises and small enterprises 72,963.46 72,772.39 72,871.39 52,779.30
Other financial liabilities 6,031.06 8,809.48 5,759.74 8,067.47 4,263.43
Other current liabilities 15,466.82 17,948.80 39,327.93 25,342.17 23,789.21
Provisions 4,580.67 4,393.04 4,528.20 4,539.05 4,027.33
Current tax liabilities (net) 6,735.79 5,539.99 3,878.67 3,137.57 1,985.94
Total current liabilities 1,05,025.21 1,17,730.05 1,29,971.87 1,20,055.15 91,922.37
Total liabilities 1,32,215.29 1,43,240.54 1,56,835.88 1,45,185.24 1,15,018.03
Total equity and liabilities 2,53,702.39 3,57,048.83 2,63,492.45 3,45,733.42 2,83,580.58

Statement of Profit and Loss

Hyundai Motor India Limited - Restated Consolidated Statement of Profit and Loss (including other comprehensive income) For the period ended June 30, 2024 For the period ended June 30, 2023 For the year ended March 31, 2024 For the year ended March 31, 2023 For the year ended March 31, 2022
Income
Revenue from operations 1,73,442.34 1,66,235.11 6,98,290.57 6,03,075.80 4,73,784.32
Other income 2,237.50 3,881.00 14,732.68 11,290.62 5,876.16
Total income 1,75,679.84 1,70,116.11 7,13,023.25 6,14,366.42 4,79,660.48
Expenses
Cost of materials consumed 1,17,638.35 1,18,640.95 5,12,979.91 4,45,086.35 3,52,308.08
Purchases of stock-in-trade 1,801.24 816.14 4,334.27 6,564.16 6,564.05
Changes in inventories of finished goods, work-in-progress, and stock-in-trade 5,337.45 6,557.53 -1,384.74 -1,351.21 -621.2
Employee benefits expense 5,527.69 4,794.67 19,754.88 17,662.26 16,476.38
Finance costs 316.4 371.86 1,580.79 1,424.01 1,319.13
Depreciation and amortisation expense 5,289.81 5,596.90 22,079.31 21,898.66 21,695.86
Other expenses 19,868.85 15,555.02 71,820.52 60,098.70 44,397.74
Cost of materials consumed for own use -133.78 -101.75 -540.43 -472.26 -201.61
Total expenses 1,55,646.01 1,52,231.32 6,30,624.51 5,50,910.67 4,41,938.42
Profit before tax 20,033.83 17,884.79 82,398.74 63,455.75 37,722.06
Tax expense
Current tax 5,533.93 5,071.33 22,965.26 18,414.53 10,377.87
Deferred tax (net) -396.62 -478.4 -1,166.96 -2,051.28 -1,671.72
Total tax expense 5,137.31 4,592.93 21,798.30 16,363.25 8,706.15
Profit for the period / year 14,896.52 13,291.86 60,600.44 47,092.50 29,015.91
Other comprehensive income ('OCI') for the period / year
Remeasurements of net defined benefit liability / (asset) -88.18 -42.43 -178.57 -230.33 36.11
Income tax relating to items that will not be reclassified to profit or loss 22.19 10.68 44.95 57.97 -9.09
Total other comprehensive income / (loss) -65.99 -31.75 -133.62 -172.36 27.02
Total comprehensive income for the period / year 14,830.53 13,260.11 60,466.82 46,920.14 29,042.93

Board of Directors of Company

Board of Directors for Muthoot Fincorp Limited

  1. Thomas John Muthoot – Managing Director
  2. Thomas George Muthoot – Director
  3. Thomas Muthoot – Executive Director
  4. Badal Chandra Das – Independent Director
  5. Ravi Ramchandran – Independent Director
  6. Preethi John Muthoot – Director
  7. Anthony Abraham Thomas – Independent Director
  8. A. P. Kurian – Independent Director
  9. Vikraman Ampalakkat – Independent Director

Company contact Details

Muthoot Centre,
TC No 27/3022, Punnen Road
Trivandrum 695 001, Kerala
Tel: +91 471 491 1550
Email: cs@muthoot.com​