Muthoot Finance Share Price: Profit **95%** bada, par stock **11%** gira! Kya hai asli wajah?

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AuthorVihaan Mehta|Published at:
Muthoot Finance Share Price: Profit **95%** bada, par stock **11%** gira! Kya hai asli wajah?
Overview

Arre yaar, Muthoot Finance ke investors ke liye aaj ka din thoda jhatke wala raha. Company ne Q3 FY26 mein **₹2,656 crore** ka zabardast profit report kiya hai, jo pichhle saal se **94.9%** zyada hai! Lekin, number dekh kar khush hone ki bajaye, stock seedha **11%** se gir gaya, ₹3,610 par aa gaya February 13, 2026 ko.

Market Ki Chhalaang: Number Mast, Stock Dhadaam!

Jab Muthoot Finance ne apna Q3 FY26 ka result nikala toh numbers ekdum solid lag rahe the. Net profit 94.9% jump karke ₹2,656 crore tak pahunch gaya aur Net Interest Income bhi 64% badh kar ₹4,467 crore ho gaya. Assets Under Management (AUM) bhi 48% saal-dar-saal badhkar ₹1,64,720 crore ho gaya. Lekin market ne is sab ko side mein rakha aur share price mein 11% ki tezi se girawat dikhi, stock ₹3,610 par trade karne laga.

Asli Kahani: Profit Recovery Se Aaya?

Ab sab soch rahe hain ki itna achha profit hone ke baad bhi stock gira kyun? Toh asli khel yahaan hai – jo profit dikhaya ja raha hai na, uska ek bada hissa ek-vaari (one-off) recovery se aaya hai. Matlab, purane non-performing loan accounts se paisa wasool hua hai, jo pehle badha hua lag raha tha. Reports ke according, ye recovery income lagbhag ₹650-750 crore ke aas paas thi, jisse profit kaafi boost ho gaya. Market ko lagta hai ki core business utna strong nahi grow kar raha jitna numbers show kar rahe hain.

Brokerages Ka Opinion: Buy vs Neutral?

Analysts bhi is situation mein divided hain. Kuch log jaise Nuvama aur Jefferies 'Buy' rating de rahe hain aur target price ₹4,700 aur ₹4,750 diya hai. Woh AUM growth, NIMs aur asset quality mein sudhaar ko positive dekh rahe hain. Lekin Motilal Oswal ne 'Neutral' rating maintain ki hai aur target ₹4,500 rakha hai. Unka main concern wahi hai ki ye one-off income profit ko inflate kar rahi hai. Overall analyst consensus mein 12 'Buy', 8 'Hold', aur 5 'Sell' ratings hain, jiska average target price ₹4,018 ke aas paas hai.

Operations & Numbers:

Company ka AUM toh 48% badha hai, jisme gold loan AUM 50% upar hai. Asset quality bhi behtar hui hai, Stage 3 loans kam hue hain. Lekin gold tonnage mein 2% ka sequential drop dekha gaya hai aur loan-to-value (LTV) ratio bhi thoda kam ho kar 55.8% par aa gaya hai. Matlab loan dene ka pace thoda moderating dikh raha hai.

Chinta Ki Baat Kya Hai?

Muthoot Finance par debt-to-equity ratio kaafi high hai. Sabse badi chinta ye hai ki kya ye high profit sustainable hai jabki ye recovery income par depend kar raha hai jo har baar nahi aati. Competition bhi badh rahi hai banks se, aur regulatory changes bhi ho sakte hain. Gold prices badhne se AUM value toh badhti hai, par customer demand par bhi asar pad sakta hai.

Aage Kya?

Management ka kehna hai ki FY2025-26 ke liye AUM growth 30-35% ke beech mein rehne ki ummeed hai. Brokerages bhi earnings growth ko lekar optimistic hain, par market ka darr recovery income ki sustainability ko lekar hai.

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