Overview

• Discrepancy in reported consolidated net profit figures for Q1 FY26 has emerged, with outlets citing Rs 2,016 cr (73% YoY) and Rs 2,406 cr (90% YoY), pending formal filing reconciliation.
• Morgan Stanley upgraded the stock to overweight with a Rs 2,920 target and Jefferies lifted its price goal to Rs 2,950, while Motilal Oswal held a neutral stance on valuation.
• The board approved equity infusions of up to Rs 500 cr into Muthoot Money and Rs 200 cr into Muthoot Homefin to bolster subsidiary growth.
• Analysts credited firm gold prices, potential LTV ratio increases and constrained unsecured credit for driving robust gold-loan demand and strong earnings.
• Bloomberg consensus shows 15 of 25 analysts with buy ratings, supported by average targets that suggest further upside potential.