Muthoot Capital Services511766Quarterly results

Board outcome: Q2 and H1 FY26 results approved; auditor gives unmodified limited review conclusion

Board of Muthoot Capital Services met on Nov 5, 2026 (01:30 pm to 08:00 pm) and approved the unaudited results for the quarter and half year ended September 30, 2026, after Audit Committee review.

By ScoutQuest · Thu 5 Nov 2026, 8:27 PM IST · 3 min read

Standalone · ₹ lakh · EPS in ₹
Line item	Latest	Year ago	YoY	Prev qtr	QoQ
Revenue from operations	17,539.28	15,340.51	+14.3%	15,552.81	+12.8%
Total income	17,892.19	15,527.82	+15.2%	16,063.74	+11.4%
Profit before tax	587.21	371.53	+58.1%	1,085.35	−45.9%
Profit after tax	440.25	282.72	+55.7%	812.21	−45.8%
Total comprehensive income	410.98	330.77	+24.2%	794.90	−48.3%
Basic EPS	2.68	1.72	+55.8%	4.94	−45.7%

PAT YoY growth: +55.7% (year ago 282.72 lakhs)
Period: Quarter Ended 30.09.2026 (Unaudited)

Auditor's review

Conclusion: Unmodified

Notes to the results

Company carries an additional management overlay of ₹ 2,517 lakhs and an additional provisioning buffer of ₹ 250 lakhs as on September 30, 2026.
During the quarter 4 incidents of fraud totaling ₹ 86.06 Lakhs were classified, with 100% provision made.
Direct Assignment transaction with pool size ₹15 590.47 Lakhs; servicer asset of Rs.17 82.80 Lakhs credited to P&L, with ECL of Rs.61.47 Lakhs provided.
NRC granted 2,68,979 ESOPs at ₹ 222.12 per option on July 15, 2026; expense of ₹27.15 Lakhs recognised in the quarter.

What was decided

The Board of Directors of Muthoot Capital Services Limited met on Thursday, November 05, 2026 and approved the unaudited financial results of the Company for the quarter and half year ended September 30, 2026. The results were reviewed by the Audit Committee and are accompanied by a limited review report from the statutory auditors. The meeting began at 01:30 p.m. and concluded at 08:00 p.m. the same day.

The auditor's conclusion

Sundaram & Srinivasan, Chartered Accountants, carried out a limited review, not a full audit, of the interim financial information. Their conclusion is unmodified: nothing has come to their attention that causes them to believe the statement contains a material misstatement, that required information has not been disclosed, or that it has not been prepared in line with the applicable accounting standards and RBI prudential norms.

Results for the quarter (Rs in lakh)

Total income from operations: 17,539.28, against 15,340.51 in the quarter ended September 30, 2025
Total income: 17,892.19, against 15,527.82
Profit before tax: 587.21, against 371.53
Profit for the period: 440.25, against 282.72
Basic and diluted earnings per share: Rs. 2.68, against Rs. 1.72

For the half year ended September 30, 2026, Total income was 33,955.93 and Profit for the period 1,252.46; the corresponding half year figures were 30,266.08 and (184.27).

Asset quality as at September 30, 2026

Gross NPA including interest accrual: 16,011.25 lakh; GNPA to advances 4.81%, against 6.46% a year earlier
Net NPA: 9,280.86 lakh; Net NPA to advances net of Stage 3 provision 2.85%, against 3.07%
Provision coverage ratio (NPA POS): 50.06%, against 60.00%
Advances: 3,32,562.57 lakh

Balance sheet (Rs in lakh)

Total assets: 4,15,418.17 as at September 30, 2026, against 4,05,560.62 as at March 31, 2026
Net worth: 68,275.12
Total debts to total assets: 0.81
Debt equity ratio: 4.91

Points from the notes

4 incidents of fraud on account of misappropriation and forgery totalling Rs 86.06 Lakh were classified during the quarter, for which a 100% provision was made.
Stressed loans transferred to asset reconstruction companies: 61,916 accounts, aggregate principal outstanding 20,300.94 lakh, net book value 14,351.91 lakh and aggregate consideration 9,320.20 lakh.
A Direct Assignment transaction with a pool size of Rs 15,590.47 Lakh was entered into; a gain of Rs.17,82.80 Lakh was credited to profit and loss, with an ECL provision of Rs.61.47 Lakh.
2,68,979 employee stock options were granted at an exercise price of Rs 222.12 per option (approved by the Nomination and Remuneration Committee on July 15, 2026); an expense of Rs 27.15 Lakh was recognised in the quarter.
The company carries an additional management overlay of Rs 2,517 lakhs and an additional provisioning buffer of Rs 250 lakhs.
Secured non-convertible debentures aggregating Rs 1,37,300.86 lakhs are fully secured by pari-passu charge on assets, with a total security cover of 1.23 times.

In simple terms

This is the company's regular quarterly and half-yearly results announcement. The figures show Total income and Profit for the period higher than in the same quarter a year earlier, a lower GNPA and Net NPA ratio, and a lower provision coverage ratio than a year earlier. The fraud instances and the provisioning overlays are set out in the notes and are already provided for. The auditors' review report is unmodified.

68,275.12 (In Lakhs)Net worth as at 30.09.

Total income, quarter ended 30.09.17,892.19 (Rs in lakh)

Total income, latest quarter17,892.19 (₹ in lakh)

Total income, quarter16,063.74 (₹ in lakh)

Total income, year-ago quarter15,527.82 (₹ in lakh)

Total comprehensive income, quarter794.90 (₹ in lakh)

Net worth as at 30.09. 68,275.12 (In Lakhs): Total income, quarter ended 30.09. 17,892.19 (Rs in lakh), Total income, latest quarter 17,892.19 (₹ in lakh), Total income, quarter 16,063.74 (₹ in lakh), Total income, year-ago quarter 15,527.82 (₹ in lakh), Total comprehensive income, quarter 794.90 (₹ in lakh).

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