Muthoottu Mini Financiers Ltd has received a significant boost in its creditworthiness as ICRA Ratings upgraded the company’s long-term borrowing rating to ‘A Stable’. This marks a notable improvement from its earlier ratings of CARE A-; Stable and IND A- Stable, previously assigned by CARE Ratings Limited and India Ratings and Research Pvt Ltd.
According to the company’s official statement, the rating upgrade is a reflection of Muthoottu Mini’s consistent financial performance, strong asset quality, and scalable operations across India.
In the April–December 2024 period (first nine months of FY25), the company posted impressive financial results:
- Profit Before Tax (PBT) rose by 20.50% to ₹103.84 crore, up from ₹86.18 crore in the same period last year.
- Profit After Tax (PAT) increased by 24.35%, reaching ₹74.66 crore compared to ₹60.04 crore previously.
- Net NPA stood at a low 0.77%, reinforcing the company’s focus on maintaining sound asset quality.
With a growing customer base and expanding presence, the company expects its Assets under Management (AUM) to reach ₹4,200 crore by the end of FY25.
Commenting on the performance, Mathew Muthoottu, Managing Director, said:
“Our performance in Q3 FY25, marked by robust revenue and profitability metrics, underscores our ability to deliver value even in dynamic market conditions.”
P.E. Mathai, CEO of Muthoottu Mini Financiers Ltd., added:
“The credit rating upgrade by ICRA validates our financial stability and disciplined approach to growth. As we deepen our presence in Tier 2 and Tier 3 cities, maintaining asset quality and customer trust remains paramount.”
Muthoottu Mini currently operates 948 branches across 12 Indian states, including Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, Uttar Pradesh, Goa, and Puducherry.
🔗 Source:
“Muthoottu Mini Financiers gets credit rating upgrade from ICRA” – The Hindu BusinessLine
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