Shares of Muthoot Finance fell over 14 percent on Monday following its Q1 FY27 earnings report and the announcement of major executive leadership changes.
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.
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:
Alexander George is set to take over as Managing Director.
K R Bijimon has been elevated to Chief Executive Officer.
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.