NEW DELHI, Aug 3 — Shares of gold loan major Muthoot Finance plunged over 14 per cent on Monday following the release of its first-quarter financial results for FY27 and announcements regarding top leadership transitions.
The stock opened 7.81 per cent lower at ₹2,876 on the National Stock Exchange (NSE) before sliding as much as 14.38 per cent to hit an intraday low of ₹2,671. By afternoon trade, the Non-Banking Financial Company (NBFC) script was underperforming the broader markets.
The sharp sell-off occurred despite solid top- and bottom-line expansion:
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Consolidated Net Profit: Rose to ₹2,799 crore for the June quarter, up from ₹2,016 crore in the same period last fiscal.
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Total Income: Jumped 34.5 per cent year-on-year to reach ₹8,695 crore, compared to ₹6,466 crore in Q1 FY26.
Alongside its financial performance, Muthoot Finance's board recommended major executive changes effective October 1, subject to shareholder approval at the upcoming Annual General Meeting:
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Alexander George is set to take over as Managing Director.
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K R Bijimon has been elevated to Chief Executive Officer.
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George Alexander Muthoot, the current MD, will transition into the role of Executive Vice Chairman to offer strategic direction.
Additionally, the board approved a ₹32 crore investment in Sri Lanka-based Asia Asset Finance PLC via a rights issue.
The stock has faced headwinds recently, falling over 25 per cent year-to-date from levels of around ₹3,800, though it remains up nearly 8 per cent over the past 12-month period. Muthoot Finance’s 52-week trading range stands between ₹2,476.60 and ₹4,149.50 on the NSE.