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The rating agency for this Bond is CRISIL.
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Muthoot Microfin Nov '27
₹74,798.60YTM
10.65%Tenure left
17 monthsInterest payout
MonthlyPrincipal payout
QuarterlyBonds details
Minimum investment₹74,798.60
Date of maturity04 Nov 2027
ISININE046W07305
Bond typeSecured
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About
Muthoot Microfin Limited (MML) is a part of the Muthoot Pappachan group (MPG) and primarily provides microfinance loans to women. The group began its microfinance operations in 2010 as a separate division of its flagship company, Muthoot Fincorp Limited (MFL). In December 2011, the group acquired Pancharatna Securities Ltd, a Mumbai-based NBFC, and renamed it MML. The company subsequently received its NBFC-MFI licence from the Reserve Bank of India in March 2015. As of March 31, 2025, MFL held a 50.2% equity stake in MML. MML operates across 19 states and reported an Assets Under Management (AUM) of Rs 12,253 crore along with a networth of Rs 2,641 crore as of June 30, 2025.;
Pros and Cons
Pros
Cons
MML receives strong financial, operational, and management support from its parent company, Muthoot Fincorp Limited (MFL), which retains majority ownership and considers the microfinance business strategically important.
The company maintains adequate capitalisation, supported by a December 2023 initial public offer (IPO), resulting in a networth of Rs 2,641 crore, a gearing of 2.8 times, and a capital adequacy ratio of 27.9% as on June 30, 2025.
It possesses a highly diversified resource profile with over 50 lenders spread across term loans, external commercial borrowings, non-convertible debentures, and securitisation.
MML exhibits an adequate liquidity profile, with cash and equivalents of Rs 537 crore providing a 1.2 times cover for its debt obligations over the upcoming two months, assuming a 75% collection efficiency.
The company's collection efficiency under the non-overdue bucket has remained consistently strong at over 99% during fiscal 2026, alongside an adequate provision cover of 69% for stressed accounts.
Other details
Clean price₹74,778.46
Dirty price₹74,798.60
Current yield11.47%
Security cover1.1X of POS
Issue size1.00Cr
Original bond tenure24 months
TrusteeCatalyst Trusteeship Limited
Mode of issueNCD
Listed onNSE
Listing date04 Nov 2025
Maturity date04 Nov 2027
Coupon rate9.80%
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