FINANCIAL RESULTS Q4 FY 2014

KEY FINANCIALS

(Rs. In Millions)

2

NETWORTH

Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Growth%

Growth%

Rs.

Rs.

Rs.

Rs. Rs. YoY QoQ

Share Capital 3717 3717 3717 3717 3717 0% 0%

Reserves & Surplus 38929 37496 36383 35577 33639 16% 4%

42646 41213 40100 39294 37356 14% 3%

80%

18%2%

Shareholding Pattern as on 31.03.2014

Promoters & Relatives(80%)

FII,FC,MF & Others(18%)

Public (2%)

3

(Rs. In Millions)

4

ASSETS

Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Growth

YoY Growth

QoQ

Rs. Rs. Rs. Rs. Rs. % %

Gross Retail Loan Assets Under Management 218615 225886 244009 258477 263868 -17% -3%

Break up of Gross Retail Loan Assets Under Management:

Gold Loans under management 216179 222628 240510 254424 260004 -17% -3%

Other Loans 2436 3258 3499 4053 3864 -37% -25%

(Rs. In Millions)

5

LIABILITIES

Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Growth%

Rs. Rs. Rs. Rs. Rs. YoY

Secured Non-Convertible Debentures (Muthoot Gold Bonds) 81580 86503 91850 97840 94596 -14%

Secured Non-Convertible Debentures - Listed 24735 22247 19480 17873 17873 38%

Borrowings from Banks/FIs 58033 65947 87038 96110 101364 -43%

Subordinated Debt 25367 25237 24929 24516 23001 10%

Subordinated Debt -Listed 980 542 309 100 100 880%

Commercial Paper 90 0 0 0 2164 -96%

Other Loans 4054 3627 3136 1912 1791 126%

Total 194839 204103 226742 238351 240889 -19%

(Rs. In Millions)

6

REVENUE & PROFIT

FY 2014 FY 2013 YoY Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014

Rs. Rs. % Growth Rs. Rs. Rs. Rs. INCOME Interest Income 49077 53641 -9% 11461 11902 12933 12782 Other Income 397 230 73% 130 105 85 76

Total 49474 53871 -8% 11591 12007 13018 12858 EXPENDITURE Interest Expense 26260 28194 -7% 5666 6277 7021 7296 Personnel Expenses 5917 5453 9% 1577 1490 1441 1408 Administrative & Other expenses 4259 3570 19% 1208 996 1074 981

Provisions & Write Offs 438 895 -51% 182 91 81 85

Directors Remuneration 192 192 0% 48 48 48 48 Depreciation 472 452 4% 126 123 116 106

Total 37538 38756 -3% 8807 9025 9781 9924 PROFIT Profit Before Tax 11936 15114 -21% 2784 2982 3236 2934

Profit After Tax 7801 10042 -22% 1810 1942 2110 1939

Geographical Spread of Branches

7

No: of

branches 551 707 985 1605 2733 3678 4082 4163 4229 4260 4270

30%

50%

70%

90%

110%

Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

East 1% 1% 2% 3% 4% 5% 5% 5% 5% 5% 5%

West 5% 6% 7% 10% 12% 13% 13% 14% 14% 14% 14%

North 8% 8% 10% 17% 18% 18% 17% 16% 16% 16% 16%

South 86% 85% 81% 70% 66% 64% 65% 65% 65% 65% 65%

6431 7569 1420121790 33001 73417

157281

244173

260004

254424

240510

222628

216179

0

50000

100000

150000

200000

250000

300000

Mar-05 Mar-06 Mar 07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

Gold Loan Portfolio

Gold Loan Assets Under Management

8

(Rs. In Millions)

9

15 16 2330

3966

112

137 134 137132

123 118

0

20

40

60

80

100

120

140

160

Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

Gold Jewellery kept as Security (tonnes)

Gold Holding (In tonnes)

60%65%70%75%80%85%90%95%

100%105%

Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

East 0% 1% 1% 2% 3% 4% 5% 5% 5% 5% 6%

West 3% 4% 5% 8% 8% 10% 11% 12% 12% 13% 14%

North 13% 13% 14% 15% 15% 17% 19% 19% 20% 21% 22%

South 84% 82% 80% 75% 74% 69% 65% 64% 63% 61% 59%

Geographical Spread of Gold Loan Portfolio

10

(Rs. In Millions)

Gold Loans

Assets Under

Management

14201 21790 33001 73417 157281 244173 260004 254424 240510 222628 216179

17.24

17.4

25.7730.82

33.5

45.74

57.5566.39

63.69

61.1256.87

52.26

50.63

15

25

35

45

55

65

75

Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

(Rs. In Millions)

Average Gold Loan Outstanding Per Branch

11

3.94%

3.46%3.49%

4.21%

4.24%

4.40%

4.05%

3.22%3.003.203.403.603.804.004.204.404.60

Return on Average Retail Loan Asset

12

3.26 %3.31% 3.36%

2.97%

2.20%

2.60%

3.00%

3.40%

3.80%

Q4 FY2014

Q3 FY2014

Q2 FY2014

Q1 FY2014

(Rs. In Millions)

13

Non-Performing Assets & Bad Debts written off

Mar 14 Mar 13 Dec 13 Sep 13 Jun 13

Rs. Rs. Rs. RS. Rs.

Gross Non-Performing Assets 4160 5250 4492 4675 5378 Provision For Non-Performing Assets 725 700 725 725 725

Net Non-Performing Assets 3435 4550 3767 3950 4653

% of Gross NPA on Gross Retail Loans 1.90% 1.99% 1.99% 1.92% 2.08%

% of Net NPA on Gross Retail Loans 1.57% 1.72% 1.67% 1.62% 1.80%

FY 2014 FY 2013 Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014

Rs. Rs. Rs. Rs. Rs. Rs.

Bad Debts Written Off 224 130 102 43 19 60

(Rs. In Millions)

42%

13%

32%

13%1%2%

LIABILITY MIXSecured Non-Convertible Debentures

(Muthoot Gold Bonds)- 81580 (42%)

Secured Non-Convertible Debentures -

Listed - 24735 (13%)

Borrowings from Banks/FIs -58033 (30%)

Subordinated Debt - 25367 (13%)

Subordinated Debt - Listed -980 (1%)

Commercial Paper - 90 (0%)

Other Loans-4054(2%)

14

(Rs. In Millions)

SHORT TERM RATING

AMT OF RATING RATING INDICATES

COMMERCIAL PAPER

CRISIL Rs.4000crs CRISIL A1+

Degree of safety with regard to timely payment of interest & principal on the instrument is very strong

ICRA Rs.200crs ICRA A1+ Lowest credit risk & Stronger credit quality

BANK LOANS

ICRA Rs.5712crs ICRA A1+ Lowest credit risk & Stronger credit quality

LONG TERM RATING

SUBORDINATED DEBT

CRISIL Rs.100crs

CRISIL AA-(Stable)

High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.

ICRA Rs.100crs

ICRA AA-(Stable)

High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.

NON CONVERTIBLE DEBENTURE

CRISIL Rs.500crs

CRISIL AA-(Stable)

High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.

ICRA Rs.200crs

ICRA AA-(Stable)

High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.

BANK LOANS

ICRA Rs.6736crs

ICRA AA-(Stable)

High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.

DEBT RATING

15

22

36

35

79

60

62

10

77

5

22

98

3

45

28

0

53

64

1

49

07

7104

107 142

119

175

210

230397

05000

1000015000200002500030000350004000045000500005500060000

Interest Income Other Income

Break-Up of Gross Income

11

46

1

11

90

2

12

93

2

12

78

2

130 105 85 76

0

4000

8000

12000

16000

20000

24000

28000

32000

36000

40000

Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014

16

5.38

4.59

5.45

4.72

4.28

4.02

4.08

4.46

3.5

4

4.5

5

5.5

6

Mar 07 Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14

Operating Expenses to Average Retail Loans

17

5.43%

4.46 % 4.21% 3.86%

1%

2%

3%

3%

4%

5%

6%

Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014

Break-Up of Operating Expenses (Rs. in Millions)

18

OPERATING EXPENSES Mar-14 Mar-13 Mar-12 Mar-11 Mar-10 Mar-09 Mar-08 Mar-07 Q4 FY 2014

Q3 FY 2014

Q2 FY 2014

Q1 FY 2014

Personnel Expenses 5917 5453 4145 2209 1169 677 405 266 1577 1490 1442 1408

Rent 1542 1309 1042 603 290 131 82 47 410 393 383 356

Advertisement 702 579 866 647 331 208 67 36 220 117 195 170 Postage, Telegram and Telephone 364 243 184 115 72 27 18 28 102 99 92 71

Traveling and Conveyance 190 175 168 114 67 42 27 18 52 42 50 46

Printing and Stationary 185 168 155 111 69 44 32 19 63 39 37 46

Repairs and Maintenance 272 256 341 211 96 62 42 34 64 52 79 77

Legal and Professional Charges 216 86 60 114 34 16 11 10 101 42 36 37

Business Promotion Expense 279 332 267 119 45 25 18 15 85 72 61 61

Directors Remuneration 192 192 192 192 192 121 49 49 48 48 48 48 Depreciation and Ammortisation Expenses 475 454 329 180 149 99 74 71 129 123 117 106

Others 731 550 380 229 165 165 88 76 211 184 160 176 Provision For Standard & NPA Assets 214 765 351 323 21 7 7 1 80 47 62 25

Total 11279 10562 8480 5165 2701 1625 919 671 3142 2748 2762 2627

670 9701482

3456

7612

13312

15114

11936

440 636977

2276

4942

892010042

7801

0

2000

4000

6000

8000

10000

12000

14000

16000

Mar 07Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14

Profit Growth

P B T

P A T 19

27

84

29

82

32

36

29

34

18

10

19

42

21

10

19

39

0

500

1000

1500

2000

2500

3000

3500

Q4 FY2014

Q3 FY2014

Q2 FY2014

Q1 FY2014

1598 2234 3712

5845

13344

29257

3735639294

40100

41213

42646

1000

6000

11000

16000

21000

26000

31000

36000

41000

46000

Mar 07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

Networth (Rs. In Millions)

20

35.10

34.0033.90

48.10

51.52

41.90

30.15

19.50

10.00

15.00

20.00

25.00

30.00

35.00

40.00

45.00

50.00

55.00

Mar 07Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14

Return on Average Equity (In Percentage)

21

17.26 % 19.11 %21.26% 20.24%

0%

5%

10%

15%

20%

25%

Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014

22

CAPITALISATION RATIOS

Mar 31,2014

Dec 31,2013 Sep 30,2013 Jun 30,2013

Mar 31, 2013

Capital Adequacy Ratio 24.69% 23.76% 21.80% 20.77% 19.62%

Tier I 18.01% 17.00% 15.30% 14.27% 13.41%

Tier II 6.68% 6.76% 6.50% 6.50% 6.21%

Book Value Per Share(Rs.) 114.73 110.70 107.72 105.57 100.5

Earnings per Share (Rs.) 20.99 16.12 10.89 5.22 27.02

23

CAPITALISATION RATIOS Mar 31,2014 Dec 31,2013 Sep 30,2013 June 30,2013 Mar 31,2013

Gross Outside Liabilities (including assigned loans) 213293 222261 244293 256068 256806

Outside Liabilities (excluding assigned loans) 213293 222261 244293 256068 256806

Cash & Bank Balances 20489 19286 20363 17702 13420

Unencumbered Cash & Bank Balances 20483 19281 20358 17698 13416

Tangible Networth 42579 41148 40041 39243 37310

Capital Gearing(Gross) 4.53 4.93 5.59 6.07 6.52

Capital Gearing(Net) 4.53 4.93 5.59 6.07 6.52

(Rs. In Millions)

3102 3999 5979

9745

16688

25351

24881

24945

25684

25469

25012

3000

8000

13000

18000

23000

28000

Mar 07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14

Human Resources

No

: Of

Em

plo

yee

s

24

25