Credit Services
Muthoot Microfin Limited (muthootmf) Crisil Rating Upgraded to ‘crisil Aa-/stable’
Muthoot Microfin Limited (MUTHOOTMF) receives CRISIL rating upgrade to ‘CRISIL AA-/Stable’, reflecting improved credit profile.
Muthoot Microfin Limited (NSE: MUTHOOTMF), a leading Non-Banking Financial Company (NBFC) in India, announced today that CRISIL Ratings has upgraded its long-term credit rating to CRISIL AA-/Stable from CRISIL A+/Positive. The Company’s Commercial Paper rating has been reaffirmed at CRISIL A1+. This upgrade is expected to further enhance the Company’s access to diversified funding sources at competitive rates, supporting a continued reduction in borrowing costs.
Improved Credit Profile
The upgrade reflects Muthoot Microfin’s strengthening credit profile, underpinned by improving asset quality, a recovery in profitability, adequate capitalisation, a diversified resource profile, and a robust liquidity position. The rating also factors in the continued financial, operational, and management support from its parent, Muthoot Fincorp Limited.
Key Drivers
The improved credit profile is driven by several factors:
Improving Asset Quality: Gross Non-Performing Advances (GNPAs) declined to 3.89% from 4.84%, and collection efficiency held above 96% backed by tighter underwriting, portfolio guardrails, and a provision cover of 71.5%.
AUM Growth Back on Track: Assets Under Management (AUM) grew ~13% year-on-year to Rs. 14,006 crore in FY26, a strong rebound from just 1.3% growth in FY25, driven by improved disbursements following portfolio stabilization.
Sharp Profitability Turnaround: Profit After Tax (PAT) recovered to ~Rs. 170 crore in FY26 from a loss of Rs. 222 crore in FY25, with credit costs halving to 3.5%.
Well-Capitalised Balance Sheet: Net worth stood at Rs. 2,854 crore with gearing at a comfortable 3.3x times as of March 31, 2026, further strengthened by strong parental support enabling timely fund mobilisation. Healthy Capital Adequacy Ratio (CRAR) at 23.9%.
Commenting on this development, Mr. Thomas Muthoot, Chairman and Non-Executive Director, Muthoot Microfin, said, “We are delighted to receive this rating upgrade, which reflects the trust and confidence that our stakeholders have placed in Muthoot Microfin. In a period when the microfinance sector continues to navigate a challenging operating environment, this upgrade stands out as a recognition of our resilient business model, prudent governance, increasing diversification and disciplined execution. It is particularly encouraging to be among the few NBFC-MFIs to receive a positive rating action during this period. As we look ahead, we remain focused on building a resilient and future-ready institution that delivers sustainable value while advancing the cause of financial inclusion.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Muthoot Microfin Limited
Muthoot Microfin Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Muthoot posts a 15.8% three-month gain, but softens in the last few weeks. The PEG stands at 13.69 — severely stretched. Any earnings miss could trigger a sharp de-rating. No meaningful dividend — total return is entirely dependent on capital appreciation. The stock gives back 10.1% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. The stock rises 15.8% in three months on 20.1% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Muthoot Microfin Limited.
CGCL
Capri Global Capital Limited (cgcl) 2qfy27 Results: PAT Rises 77% Yoy to All-time High
Capri Global Capital Limited (CGCL) reports 2QFY27 results with a 77% YoY PAT rise to Rs 4.18 crores, boosted by strong growth and improved profitability.
Capri Global Capital Limited (CGCL) announced its unaudited financial results for the quarter and half year ended Sep 30th, 2026, marking another strong quarter with consolidated AUM rising to Rs 43,878 crores, up 62% YoY. The company reported its highest-ever quarterly PAT of Rs 4.18 crores, an increase of 77% YoY, driven by robust portfolio growth, healthy lending spreads, and operating leverage.
Consolidated AUM Reaches Rs 43,878 Crores
CGCL’s consolidated AUM increased 62% YoY and 9% QoQ to Rs 43,878 crores. Growth was broad-based across its secured lending businesses, with significant contributions from Gold Loans, Construction Finance, Affordable Housing, and MSME Loans.
Profitability Scales to a New High
The company’s quarterly PAT increased 77% YoY to Rs 4.18 crores, supported by a 69% YoY rise in net interest income to Rs 812 crores and an 84% YoY increase in operating profit to Rs 636 crores. The yield on net advances remained at 17.5%, and the cost of borrowings stood at 9.2%, resulting in a spread of 8.3%.
Sustained Earnings Momentum
For 1HFY27, CGCL reported net interest income of Rs 1,549 crores, up 74% YoY, and non-interest income of Rs 487 crores, up 31% YoY. Operating profit grew 78% YoY to Rs 1,168 crores, while PAT increased 88% YoY to Rs 7.72 crores. The cost-to-income ratio improved to 42.6% from 48.1% in 1HFY26, reflecting stronger operating leverage.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Capri Global Capital Limited
Capri Global Capital Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Capri gains 38.0% over three months and trades near its 52-week highs. The PEG of 0.34 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E reaches 3.62. High leverage in this environment is a material risk the market cannot ignore. The stock trades at 96% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 48.6%, profits at 66.8%, and the PEG sits at 0.34 — below its growth rate. That combination is rare. Check Fundamentals of Capri Global Capital Limited.
Credit Services
Satin Creditcare Network Limited (satin) Reports Consolidated PAT of ₹299 Crores in H1fy27
Satin Creditcare Network Limited (SATIN) reports a consolidated PAT of ₹299 crores in H1 FY27, nearing ₹332 crore full-year profit.
Satin Creditcare Network Limited (SATIN) has announced its financial results for the Half Year ended 30th September 2026. The company reported a consolidated Profit After Tax (PAT) of ₹299 crores in H1 FY27, nearing the full-year profit of ₹332 crores for FY26 in just six months.
Financial Highlights
The company’s Assets under Management (AUM) grew by 31% to ₹16,589 crores in H1 FY27 compared to ₹12,687 crores in H1 FY26. Disbursement surged by 48% to ₹7,192 crores in H1 FY27 from ₹4,868 crores in H1 FY26. Total revenue increased by 27% to ₹1,760 crores in H1 FY27 from ₹1,391 crores in H1 FY26. Pre-Provision Operating Profit (PPOP) rose by 43% to ₹592 crores in H1 FY27 from ₹413 crores in H1 FY26.
Profitability
The company’s PAT for H1 FY27 was ₹299 crores, a significant 204% increase from ₹98 crores in H1 FY26. In Q2 FY27, PAT reached ₹176 crores, up 231% from ₹53 crores in Q2 FY26. Return on Assets (ROA) and Return on Equity (ROE) also saw substantial growth, with ROA increasing by 267 basis points to 4.4% and ROE rising by 1,386 basis points to 22.2% in H1 FY27.
Future Outlook
Dr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, emphasized the company’s commitment to sustainable growth, balance sheet strength, and disciplined credit execution. With a strong capital base and diversified lending portfolio, SATIN is well-positioned to continue its growth trajectory.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Satin Creditcare Network Limited
Satin Creditcare Network Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Satin falls 9.3% over three months and has not found a floor yet. The PEG of 0.02 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E reaches 3.46. High leverage in this environment is a material risk the market cannot ignore. The stock gains 6.1% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. The stock rises -9.3% in three months on 23.5% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Satin Creditcare Network Limited.
Credit Services
Mas Financial Services Limited (masfin) Reports Q2 FY27: AUM Up 23%, PAT Rises 26%
MAS Financial Services Limited (MASFIN) reports Q2 FY27 results with a 23% increase in AUM and a 26% rise in PAT.
MAS Financial Services Limited (MASFIN) showcased a robust financial performance for the quarter ended 30th September 2026, reporting a consolidated Assets Under Management (AUM) of ₹17,042.86 Crores and Profit After Tax (PAT) of ₹115.12 Crores. This marks a significant growth of 23% in AUM and 26% in PAT compared to the corresponding quarter of the previous year, demonstrating the company’s strong fundamentals and commitment to excellence.
Consolidated Performance
The consolidated AUM for the quarter stands at ₹17,042.86 Crores, a notable increase from ₹12,999.14 Crores in the same quarter last year. The consolidated PAT also rose to ₹115.12 Crores from ₹91.43 Crores, reflecting the company’s efficient risk management and profitability strategies. The consolidated disbursement during the quarter was ₹4,907.95 Crores, highlighting the company’s active role in MSME financing.
Standalone Performance
MAS Financial Services Limited (Standalone) reported an AUM of ₹16,011.38 Crores and PAT of ₹110.05 Crores for the quarter ended 30th September 2026. This represents a 23% increase in AUM and a 23% rise in PAT compared to the same quarter last year. The standalone disbursement was ₹4,812.05 Crores, underscoring the company’s consistent financial health and growth trajectory.
Commenting on the performance, Mr. Kamlesh Gandhi, Founder, Chairman & Managing Director of MAS Financial Services Limited, said, ‘Team MAS has once again demonstrated a very robust performance, signifying high-quality growth for this quarter too. More than 23% growth in AUM and 25% in PAT on a consolidated basis bears the testimony to the same, we remain committed to grow between 23-25% prioritizing risk management and profitability.’ Team MAS remains committed to its mission of ‘Excellence through endeavors’ which we now reckon as ‘PURPOSE LED PROGRESS DRIVEN’.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of MAS Financial Services Limited
MAS Financial Services Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
MAS drops 15.4% over three months and trades near its 52-week lows. The PEG of 0.55 signals undervaluation relative to growth. It is a potential re-rating candidate. D/E reaches 3.46. High leverage in this environment is a material risk the market cannot ignore. The stock sits at 5% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 25.5% and profits at 22.2% CAGR, with D/E of 3.46. Meanwhile, the stock dips 15.4% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of MAS Financial Services Limited.
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