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Muthoottu Mini Financiers Limited
active
Secured
ISIN
INE101Q07AQ7
Investment Details
Key Terms
Minimum Investment
₹3,00,575.34
For Settlement Date Jul 17, 2025
Maturity Date
25 Apr 2027
1 Year 9 Months 8 Days
Payment Frequency
monthly
Coupon Rate
10.00 %
fixed
Financial Details
Coupon Type
fixed
Yield to maturity
10.47% p.a
Effective Yield
10.47%
Current Yield
10.00%
Clean Price
₹100.00
Dirty Price
₹100.19
Bond Details
Issue Size
N/A
Base Issue Size
N/A
Greenshoe Option Size
N/A
Issue Closes
N/A
Issue Type
corporate
Face Value
₹1,00,000.00
Listed
Yes
Allotment Mode
N/A
Mode OF Issue
private placement
Settlement Date
Jul 17, 2025
Coupon Type
fixed
Call Date
N/A
Put Date
N/A
Tier
N/A
Perpetual
No
Issue Date
25 Apr 2024
Risk Factor
Tax Type
Taxable
Tax Free
Mode of Issue
Public
Private
Seniority
Non-Senior
Senior
Security
Unsecured
Secured
Issue Managers
Current MD/CEO
Mathew Muthoottu
Debenture Trustee
MITCON Credentia Trusteeship Services Limited
Credit Rating
Cash Flow
Investment Amount
₹3,00,575.34
Settlement Date
Payment Term
monthly
Units
3
Repayment Schedule
Download
Date
Interest (10.00%)
Principal
Aug 10, 2025
₹2,547.95
-
Sep 10, 2025
₹2,547.95
-
Oct 10, 2025
₹2,465.75
-
Nov 10, 2025
₹2,547.95
-
Dec 10, 2025
₹2,465.75
-
Jan 10, 2026
₹2,547.95
-
Feb 10, 2026
₹2,547.95
-
Mar 10, 2026
₹2,301.37
-
Apr 10, 2026
₹2,547.95
-
May 10, 2026
₹2,465.75
-
Jun 10, 2026
₹2,547.95
-
Jul 10, 2026
₹2,465.75
-
Aug 10, 2026
₹2,547.95
-
Sep 10, 2026
₹2,547.95
-
Oct 10, 2026
₹2,465.75
-
Nov 10, 2026
₹2,547.95
-
Dec 10, 2026
₹2,465.75
-
Jan 10, 2027
₹2,547.95
-
Feb 10, 2027
₹2,547.95
-
Mar 10, 2027
₹2,301.37
-
Apr 10, 2027
₹2,547.95
-
Apr 25, 2027
₹1,232.88
₹3,00,000.00
Net Returns
₹53,753.42
₹3,00,000.00
Documents
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Debt Quality
Security
This bond is SECURED
Seniority
In case of default, the bond holders will be considered 'Senior' for payment
Listed
Listing details are not available
Issuer
Muthoottu Mini Financiers Limited
Issuer Overview
Muthoottu Mini Financiers Ltd (MMFL) was incorporated on March 18, 1998, and operated as an investment company for other group entities until FY06. MMFL then started gold loan advances from FY07 and undertook rapid branch expansions from FY09 onwards. The company was converted to a public limited company on November 27, 2013, and consequently, the name was changed from Muthoottu Mini Financiers Private Limited to MMFL. MMFL also operates as an agent of several money transfer services set-ups, realising agency commission for these services. As on June 30, 2023, the company had a loan portfolio of INR 3,288 crore.
Issuer Highlights
- Business Trajectory: MMFL has over two decades of experience in the gold finance business in the highly competitive markets of Kerala and Tamil Nadu. The company has managed multiple cycles in this business through which it has seen several wide fluctuations in gold prices. MMFL's assets under management grew 30.6% yoy to INR32.6 billion at FYE23 (FYE22: up 25.3% yoy; FYE21: 17.9% yoy), leading to the assets under management (AUM) per branch for gold loans increasing to INR35.4 million (FYE22: INR29.8 million; FYE21: INR24 million). Furthermore, MMFL's branch network has improved over the last few years (FY23:861; FY22: 814; FY21: 807). The company is penetrating deeper into the southern states and plans to expand its branch network in the western and northern states of India.
- Steady Profitability: MMFL’s return on assets improved to 2.24% in Q1FY24 (FY23: 1.90%; FY22: 1.61%), supported by the growth in AUM and control over credit costs. MMFL’s opex to average AUM increased to 6.30% in FY23 (FY22: 6.23%; FY21: 6.48%) due to the addition of branches during the year; however, there is significant room for improvement in productivity. MMFL has increased the proportion of bank funding to bolster its margins. Its operating profit buffers have been stable due to benign credit costs. Also, MMFL has a sound track record in the recovery of gold loans through auctions; in FY23, it realised a surplus of 31.7% over outstanding principal (FY22: 22.6%; FY21: 27.1%). MMFL’s blending funding cost reduced to 9.68% in FY23 (FY22: 9.88%; FY21: 11.89%) due to the redemption of high-interest NCDs.
Industry
Financial Services
Year Founded
1998
Sector
N/A
Ownership
N/A
Head Office
N/A
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Investment Calculator
3 units
Invested Amount
₹3,00,575.34
Earned Interest
₹53,753.42
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