Muthoot Finance

Last updated

Muthoot Finance
Company type Public
Industry Financial services
Founded1939;85 years ago (1939)
Headquarters Kochi, Kerala, India
Key people
Products Mortgage loans, Insurance, Mutual funds;
RevenueIncrease2.svg₹12,237 crore (US$1.5 billion) (FY22) [1]
Increase2.svg₹9,666 crore (US$1.2 billion) (FY22) [1]
Increase2.svg₹4,031 crore (US$500 million) (FY22) [1]
Total assets Increase2.svg₹54,881 crore (US$6.9 billion) (2020) [2]
Total equity Increase2.svg₹11,414 crore (US$1.4 billion) (2020) [2]
Number of employees
25,554 (2020) [2]
Parent The Muthoot Group
Subsidiaries
  • Muthoot Homefin (India) Limited
  • Muthoot Insurance Brokers Private Limited
  • Belstar Microfinance Limited
  • Asia Asset Finance plc
[3]
Website www.muthootfinance.com

Muthoot Finance Ltd is an Indian financial corporation and the largest gold loan NBFC in the country. [4] In addition to financing gold loans, the company offers other forms of loans, insurance and money transfer services, and sells gold coins. The company is headquartered in Kochi, Kerala and operates over 5000 branches throughout the country. Outside India, Muthoot Finance is established in the UK, the US, and the United Arab Emirates.

Contents

The company falls under the brand umbrella of the Muthoot Group. Its stocks are listed on the BSE and NSE since its initial public offering in 2011. [5] [6] The target market of Muthoot Finance includes small businesses, vendors, farmers, traders, SME business owners, and salaried individuals.

Corporate background

Muthoot Finance Swargate Branch.jpg
Muthoot Finance branch in Swargate, Pune

The company was incorporated as a private limited company on 14 March 1997 with the name "The Muthoot Finance Private Limited" under the Companies Act. [7]

On 18 November 2008, the company was converted into a public limited company with the name "Muthoot Finance Limited". [8] During the year 2009–10, the company added 620 new branches. [9]

In 2014, Muthoot Finance acquired a majority stake in Asia Asset Finance plc, a Sri Lankan publicly-listed financial services company. [10]

In July 2016, Muthoot Finance acquired 46.83% of the capital of Belstar Investment and Finance Private Limited (BIFPL). [11]

In May 2018, Muthoot Finance acquired Muthoot Money, a Non Deposit taking Non-Banking Financial Company. [12]

Awards and recognition

Philanthropy

All of the philanthropic activities of Muthoot Finance are conducted through the Muthoot M George Foundation, which also conducts tree plantation drives [24] and offers scholarships [25] to the needy on a regular basis. The company is also involved in various philanthropic initiatives, which focus on education through M George Foundation, [26] environment, health, financial assistance and eco-friendliness. [27] With the assistance of the Credai Clean City Movement, the company is associated with the concept of an E-toilet, which was a public sanitation initiative. [28] Additionally, the company holds regular agricultural seminars by the name of "Ente Adukkalathottum" ("My Kitchen Garden") which educates farmers on the effects of pesticide residues in food and how to counter that for healthier living. It has also been actively involved in helping cancer patients, as well as individuals diagnosed with from kidney diseases, by financially covering medical expenses. [29]

The company runs the Kochi Chapter of the "Horn Not Ok Please" initiative, which raises awareness on the harmful effects of vehicular noise pollution. [30] The company has also launched a Centre for Promoting/Creating Road Traffic Awareness at the office of the Asst. Commissioner of Police in Kochi to help raise awareness about road safety and the prevention of traffic accidents. [31] [32]

In 2012, the Muthoot Group launched the first Paul George Memorial Tournament, [33] which was aimed at Government School Children in the Delhi NCR region. The winners of the tournament were given scholarships. [34]

Related Research Articles

<span class="mw-page-title-main">Britannia Industries</span> Indian food and beverage company

Britannia Industries Limited is an Indian multinational food products company, which sells biscuits, breads and dairy products. Founded in 1892, it is one of India's oldest existing companies and currently part of the Wadia Group headed by Nusli Wadia. As of 2023, about 80% of its revenues came from biscuit products.

<span class="mw-page-title-main">Federal Bank</span> Indian bank

Federal Bank Limited is an Indian private sector bank headquartered in Aluva,Kochi, Kerala. The Bank has 1,408+ banking outlets and, 1935+ ATMs/ CDMS spread across different states in India and overseas representative offices at Abu Dhabi and Dubai.

<span class="mw-page-title-main">PVR INOX</span> Indian multiplex cinema chain

PVR INOX Ltd, formerly known as PVR Cinemas,is an Indian multiplex chain based in Mumbai. It was formed as a result of the merger between PVR Cinemas and INOX Leisure Multiplex. PVR pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at Saket, New Delhi. In 2022, PVR Cinemas achieved the milestone of completing 25 years in the business. As of December 2023, PVR Inox has 1712 screens across 359 properties in 114 cities.

<span class="mw-page-title-main">Mahindra & Mahindra</span> Indian automobile manufacturer

Mahindra & Mahindra Limited (M&M) is an Indian multinational automotive manufacturing corporation headquartered in Mumbai. It was established in 1945 as Mahindra & Mohammed and later renamed Mahindra & Mahindra. Part of the Mahindra Group, M&M is one of the largest vehicle manufacturers by production in India. Its unit, Mahindra Tractors, is the largest manufacturer of tractors in the world by volume. It was ranked 17th on a list of top companies in India by Fortune India 500 in 2018. Its major competitors in the Indian market include Maruti Suzuki India and Tata Motors.

Mahindra Group is an Indian multinational conglomerate, headquartered in Mumbai. The group has operations in over 100 countries, with a presence in aerospace, agribusiness, aftermarket automotive components, construction equipment, defence, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail and education. The group's flagship company Mahindra & Mahindra has market leadership in utility vehicles as well as tractors in India.

Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Multinational Indian banking and financial services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets and Fourth largest by Market capitalisation. It sells financial services to large and mid-size companies, SMEs and retail businesses.

<span class="mw-page-title-main">Kochi Metro</span> Rapid transit system in Kochi, India

The Kochi Metro is a rapid transit system serving the city of Kochi and the wider Kochi Metropolitan Region in Kerala, India. It was opened to the public within four years of starting construction, making it one of the fastest completed metro projects in India. The Kochi metro project is the first metro system in the country which connects rail, road and water transport facilities. It is also the first metro rail system in India to be operated using the Communication-Based Train Control (CBTC) signalling system, which requires minimum human intervention. The Kochi Water Metro is integrated with the Kochi Metro, which serves as a feeder service to the suburbs along the rivers where transport accessibility is limited.

The Muthoot Group is an Indian multinational conglomerate headquartered in Kochi, Kerala. It has interests in financial services, information technology, media, healthcare, education, power generation, infrastructure, plantations, precious metal, restaurant, and hospitality. Muthoot Group operates in 29 states in India, and has presence in Nepal, Sri Lanka, US, UK and UAE. The group manages assets of over $4.5 billion. It is owned and managed by the Muthoot family.

<span class="mw-page-title-main">M. A. Yusuff Ali</span> Indian businessman (born 1955)

Yusuff Ali Musaliam Veettil Abdul Kader, popularly known as M. A. Yusuff Ali, is Indian businessman and billionaire. He is the chairman and managing director of LuLu Group International, which owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall. With an annual turnover of US$8.4 billion, LuLu Group International employs the largest number of Indians outside India. According to Forbes Middle East, Yusuff Ali was ranked No. 1 in Top 100 Indian business owners in the Arab World 2018. As per Forbes billionaires list published in October 2023, he was ranked 27th richest Indian with net worth of US$6.9 billion.

<span class="mw-page-title-main">Motilal Oswal Financial Services</span> Indian diversified financial services firm

Motilal Oswal Financial Services Limited is an Indian financial services company offering a range of financial products and services. The company was founded by Motilal Oswal and Raamdeo Agrawal in 1987.

<span class="mw-page-title-main">M. G. George Muthoot</span> Indian entrepreneur and businessman (1949–2021)

Mathai George George Muthoot was an Indian entrepreneur and businessman. He was the third generation of his family to be chairman of the Muthoot Group, and the former Lay Trustee of the Indian Orthodox Church. He was also a member of the National Executive Committee of the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Chairman of the FICCI Kerala State Council.

<span class="mw-page-title-main">George Alexander Muthoot</span> Indian businessman

George Alexander Muthoot is an Indian entrepreneur and businessman who is currently the managing director of the Muthoot Group, a business conglomerate in India.

Geojit Financial Services Ltd. is an investment services company in India headquartered in Kochi, Kerala. It operates a network of offices across India and the Middle East. Geojit was the first company in India to launch online-trading facilities, develop franchise models of sub-broking, form joint ventures in West Asia and the first to begin commodity futures trading in pepper, cardamom, gold and silver in India.

<span class="mw-page-title-main">Infibeam</span> Indian financial technology company

Infibeam Avenues Limited is an Indian payment infrastructure and software as a service (SaaS) fintech company that provides digital payment services, eCommerce platforms, digital lending, data cloud storage and omnichannel enterprise software to businesses across industries in India and globally.

<span class="mw-page-title-main">P. N. C. Menon</span> Indian-Omani businessman (born 1948)

Puthan Naduvakkatt Chenthamaraksha Menon, also known as P. N. C. Menon is an Omani billionaire businessman born in Palakkad, Kerala. He is the founder and chairman of Sobha Ltd & Sobha LLC.

<span class="mw-page-title-main">Muthoot Pappachan Group</span> Indian financial services conglomerate

Muthoot Pappachan Group, also known as Muthoot Blue, is an Indian financial services conglomerate founded in 1887 by Ninan Mathai Muthoot. Headquartered in Thiruvananthapuram, Kerala, the group has a workforce of more than 26,000 employees across 4,200 branches in India. Apart from financial services, the group has business interests in hospitality, automotive dealerships, real estate, healthcare, IT services, precious metals, alternate energy, and security services.

Dhanam is a fortnightly business magazine in Malayalam language, published in the state of Kerala, India. It was first published in 1987 and was the only major source of business news and related topics in the state at that time. The Malayalam word "Dhanam" translates to "wealth" in English.

<span class="mw-page-title-main">Kurian John Melamparambil</span> Indian humanitarian and entrepreneur

Kurian John Melamparambil is an Indian philanthropist, industrialist and writer from Kerala. He is the founder and chief promoter of Melam Group of Companies and the Melam Foundation. With his own generated funds, he has provided free medical treatment to over 158,000 poor patients through 1050 hospitals. He was honoured by the Government of India, in 2010, for his services to the social cause, with the fourth highest civilian award, the Padma Shri.

<span class="mw-page-title-main">Future Generali India Insurance</span> Insurance company in India

Future Generali India Insurance (FGII) Company Limited is a private general insurance company in India. The company is a joint venture between the Future Group and Generali Participations Netherlands N.V. The company’s portfolio comprises insurance products categorised within Personal, Commercial and Social/Rural Insurance.

Aavas Financiers, also known as Aavas, is a Jaipur based housing finance company known for providing home loans in the rural and semi-urban locations of India. Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011.

References

  1. 1 2 3 "Muthoot Finance Q4 profit slides to Rs 1,006 cr as interest income falls". Business Standard. Retrieved 25 August 2023.
  2. 1 2 3 "Muthoot Finance Ltd. Financial Statements". moneycontrol.com.
  3. ↑ "Muthoot Finance". muthootfinance.com. Retrieved 1 August 2020.
  4. ↑ "Muthoot Finance cashback scheme launched for customers amid COVID-19 pandemic". Zee Business. 14 July 2020.
  5. ↑ "Indian Billionaire George Muthoot's Pot of Gold". Forbes. Retrieved 11 February 2023.
  6. ↑ "Muthoot Finance sets IPO price band at Rs 160-175 per share". Business Today. 13 April 2011. Retrieved 11 February 2023.
  7. ↑ "Muthoot Finance History". The Economic Times.
  8. ↑ "Muthoot Finance Ltd". Moneycontrol. Retrieved 20 July 2020.
  9. ↑ "Muthoot Finance Ltd". Business Standard.
  10. ↑ "Muthoot Finance acquires Sri Lankan company". The Hindu. 31 December 2014. Retrieved 25 August 2023.
  11. ↑ "Muthoot Finance Ups Stake in Belstar Investment". NDTV.com.
  12. ↑ "Muthoot Finance acquires Muthoot Money". Business Standard. 30 October 2018.
  13. ↑ "Muthoot Finance, the flagship company of Muthoot Group, won the coveted Skoch Financial Inclusion Award". HT Syndication.
  14. ↑ "Muthoot Finance, the flagship company of Muthoot Group, won the coveted Skoch Financial Inclusion Award". The Times of India.
  15. ↑ "India's Most Trusted BFSI Brands 2012".
  16. ↑ "India's Most Trusted BFSI Brands 2013". Trust Research Advisory.
  17. ↑ "India's Most Trusted BFSI Brands 2014". Archived from the original on 24 October 2014.
  18. ↑ "Muthoot Finance, Asian sustainability award". Award Website.
  19. ↑ "Muthoot Finance, bags award for rural outreach". The Hindu.
  20. ↑ "Muthoot Finance, bags 2 prestigious awards". Rupee Times.
  21. ↑ "Muthoot Finance receives Golden Peacock Award for CSR". India Infoline.
  22. ↑ "Muthoot Finance bags Golden Peacock Award for 'HR Excellence". Money Works4me.
  23. ↑ "Muthoot Finance wins HR excellence award". Business Standard.
  24. ↑ "Grow Trees NGO Testimonials". Grow Trees.
  25. ↑ "Muthoot Foundation to award scholarships". Business Standard. 24 November 2010. Retrieved 25 January 2014.
  26. ↑ "Muthoot M George Foundation announced the launch of Muthoot M George Excellence Scholarships". Business Standard. 24 November 2010.
  27. ↑ "Muthoot Finance CSR profile". CSR Identity.
  28. ↑ ... "NATIONAL / KERALA : e-toilet opened in Children's Park". The Hindu. 5 February 2012. Retrieved 31 January 2013.{{cite web}}: Check |url= value (help)
  29. ↑ "NATIONAL / KERALA : Muthoot M George Foundation". NGO. Retrieved 25 January 2014.
  30. ↑ "NATIONAL / KERALA : Horn Not OK Please', a poster designing competition". The Hindu. 5 February 2012. Retrieved 31 January 2013.
  31. ↑ "Poster designing". The Hindu. Retrieved 2 February 2013.
  32. ↑ "In Kochi, Horn Not OK Please". kochivibe.com. Retrieved 2 February 2013.
  33. ↑ "NATIONAL / DELHI: Sehwag inaugurates Paul George Memorial Tournament". Zee News. 14 October 2013. Retrieved 25 January 2014.
  34. ↑ "T20 cricket tournament for government school students". Sports.ndtv.com. 19 October 2012. Retrieved 31 January 2013.

https://www.facebook.com/reel/286405867409430?mibextid=9drbnH

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.