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Driven by the Legacy of Trust and Commitment CONTENTS Annual Report 2017-18 Driven by the Legacy of Trust and Commitment CONTENTS 01-36 38-103 Corporate Overview Statutory Reports 04 Driven by the Legacy of Trust and Commitment 38 Report of the Board of Directors 10 Muthoot at a Glance 81 Report on Corporate Governance 14 Key Performance Indicators 94 Management Discussion & Analysis 16 Responding to Opportunities With Agility 18 Chairman’s Communique 20 Business Analysis 26 Milestones 104-231 28 People Count Financial Statements 30 Corporate Social Responsibility 32 Board of Directors 104 Standalone Financial Statements 36 Awards and Recognitions 169 Consolidated Financial Statements FY 2017-18 highlights Revenue Profit after tax Earnings per Market share capitalisation* ` ` ` ` 6,243 Crores 1,720 Crores 43.04 16,300 Crores 9% 46% 46% 11% *as on March 31, 2018 Growth over 2016-17 About Muthoot Group About Muthoot Finance Limited Founded in 1887, The Muthoot Group Muthoot Finance Limited is the started as a small trading business flagship Company of The Muthoot in Kozhencherry, a remote village in Group. Headquartered in the South Kerala. Over the years, The Muthoot Indian state of Kerala, India, we Group* has diversified its presence have emerged as India’s largest across financial services, plantations & gold financing company in terms of estates, education, leisure & hospitality, loan portfolio. We have been in this healthcare, housing & infrastructure, business for over 79 years. Classified infotech, wealth management, money as a ‘Systemically Important Non- transfer, forex, media, power generation, deposit taking NBFC’ as per the precious metals, securities, vehicle & Reserve Bank of India regulations, we asset finance and travel services, among are listed on the country’s premier others. Also, the Group has expanded stock exchanges, namely BSE and its reach and broadened its scope NSE. We also offer home loans and through these years. insurance through our subsidiaries. *(refers to entities promoted by Shri M.G. George Muthoot, Shri George Thomas Muthoot, Shri George Jacob Muthoot and Shri George Alexander Muthoot, operating under the brand name ‘The Muthoot Group’) Corporate Overview 1 OUR GUIDING INSPIRATION. Our founder, Shri M. George Muthoot, envisioned the prospects of gold loan in India long back in 1939. His business insight and vision helped transform India’s gold loan business. Guided by his values, we have strengthened our reputation over the years and established ourselves as a trusted pan-India brand. UNCHANGING VALUES… …IN CHANGING TIMES “Let us not judge ourselves by the profit we make but by the trust and the confidence that people have in us. Let us cherish and nurture that trust and ensure that every person who deals with us, deals with the confidence that he will not be misguided but his interests will be carefully protected.” Late Shri M. George Muthoot 2 AS INDIA’S LARGEST GOLD FINANCING COMPANY, WE SEE OURSELVES AS A FORCE FOR GOOD AND AN AGENT OF EMPOWERMENT FOR ALL SECTIONS OF SOCIETY. Corporate Overview 3 OUR GOLD LOANS AND WIDE SPECTRUM OF FINANCIAL 1 India’s Most Trusted Financial SOLUTIONS INSPIRE OUR Services Brand CUSTOMERS TO THINK BIG. WITH OUR TAGLINE, ‘LIFE MEIN AAGEY BADHIYE’, WE WANT PEOPLE 131years TO TAKE A STEP FORWARD TO NOT Legacy of The Muthoot Group JUST REALISE THEIR ASPIRATIONS, that our customers trust BUT ALSO CONTRIBUTE TO THE NATION'S PROGRESS BY HELPING OTHERS. 2 Lakhs Customers served per day DURING 2017-18, WE REVAMPED OUR BRAND PERSONALITY, STRENGTHENED OUR DIGITAL CAPABILITIES, DEEPENED AND ` Crores WIDENED OUR PAN-INDIA 29,138 Loan assets under management FOOTPRINT TO PROVIDE OUR CUSTOMERS FAST, ON-DEMAND, HASSLE-FREE AND EFFICIENT SERVICES. 4,300+ Branches span 29 States/ WE PUT EQUAL EMPHASIS ON Union territories STRONG CREDIT AND COLLECTIONS MANAGEMENT AND BEST-IN- CLASS GOVERNANCE AND RISK- MANAGEMENT PRACTICES. 5 Lakhs iMuthoot app downloads AT THE SAME TIME, OUR CORPORATE CITIZENSHIP EFFORTS CONTINUED TO GROW IN SCALE AND SCOPE. DRIVEN BY A RICH TRADITION OF 23,000+ Dedicated employees contribute to TRUST AND COMMITMENT, WE ARE our growth CREATING ENDURING VALUE FOR OUR CUSTOMERS, OTHER STAKEHOLDERS, AND THE NATION AT LARGE, IN THEIR + FORWARD MARCH. 150,000 Retail investors base across debenture and subordinated debt portfolios 4 Driven by the Legacy of Trust and Commitment SETTING A HIGH STANDARD OF BRAND EXCELLENCE BRAND MUTHOOT STANDS FOR TRUST AND COMMITMENT, NURTURED FOR DECADES ON END, SUPPORTING THE ASPIRATIONS OF MILLIONS OF I AM PROUD TO BE ASSOCIATED PEOPLE ACROSS GENERATIONS. WITH THE MUTHOOT GROUP WHILE DEEPLY ROOTED IN OUR WHICH IS KNOWN FOR ITS UNCOMPROMISING VALUES AND ETHOS, WE CONTINUE TO MOVE TRUST EARNED OVER 131 YEARS OF AHEAD WITH CHANGING TIMES EXCELLENCE IN BUSINESS. OVER AND STRENGTHEN THE REPUTATION THESE YEARS, THE MUTHOOT AND RECALL OF OUR BRAND. GROUP HAS BROUGHT JOY TO THE LIVES OF MILLIONS OF As part of our broad strategy to strengthen our brand, we INDIANS AND HAS HELPED THEM associated during the year with Shri Amitabh Bachchan and PROSPER IN LIFE THROUGH THEIR Chennai Super Kings (CSK), one of the renowned Indian Premier League (IPL) cricket teams. We are confident that our DIVERSE FINANCIAL PRODUCTS association with such prominent people and brands will help AND SERVICES. I LOOK FORWARD us gain more trust and deepen our customer relationships. TO THIS ASSOCIATION AND WISH EVERYONE ASSOCIATED WITH THE The Muthoot Group has been associated with several other sports such as football (through Indian Super League) and MUTHOOT GROUP THE VERY BEST Kabaddi (through Pro-Kabaddi League,) and has also partnered IN THEIR LIVES! IPL in previous seasons (with Delhi Daredevils for four years). These collaborations have facilitated better customer connect. - SHRI AMITABH BACHCHAN Muthoot Finance Limited Statutory Reports | Report of The Board of Directors Corporate Overview 55 THE SHAHENSHAH OF BOLLYWOOD IS OUR BRAND AMBASSADOR The Muthoot Group signed Padma Vibhushan Shri Amitabh Bachchan as its brand ambassador to represent it in its national campaigns. Shri Bachchan was chosen as he inspires trust and confidence across generations, much like The Muthoot Group. The diverse roles that he has enacted across his illustrious career also resonates with our wide business activities. Launched ‘Taking India Forward’ The campaign has also been rated among campaign the Top 10 YouTube ads, in terms of As a ‘one source – multi-resource’ views, by The Economic Times Brand financial services conglomerate, Equity dated March 21, 2018. The Muthoot Group is ‘Taking India Forward’ through notable contributions Launched the gold loan campaign made to all sections of society by its We launched our first gold loan various businesses. campaign with Shri Bachchan articulating the central message, The Group’s new communication, titled "Muthoot Finance se Gold Loan lijiye, ‘Taking India Forward’, was designed to aur Life Mein #AageyBadhiye!". break the messaging clutter on different above-the-line (ATL) media by using the legendary superstar as the Group’s brand ambassador. The communication portrays Shri Bachchan in a never-seen-before double role, probably for the first time in the history of advertising and brand communication. The debate of the conscious and sub-conscious mind about what is more important – experience or actions – is borrowed from the television commercial (TVC) to be adapted to the print ad as well. The print ad also contains a QR code, which takes readers to the TVC to create better viewer connect. In the TVC, Shri Bachchan extols the virtues of The Muthoot Group, its legacy of 131 years, diversified businesses and 4500+ pan-India branches. The print ad celebrates the legacy of a trusted financial services brand, supporting the ambitions of millions of unbanked Indians. It is heartening to see that the TVC has already crossed 1.5 Million YouTube views, following the month of its launch. Annual Report 2017-18 6 Association with Chennai Super Kings (CSK) The Muthoot Group is associated as the principal team partner of CSK, which is led by the legendary former Indian Captain, Padma Bhushan Shri Mahendra Singh Dhoni, for IPL 2018. We have a three-year agreement with CSK and as a part of this alliance, all CSK players’ jerseys will carry The Muthoot Group’s logo in the front. Cricket is the most popular and watched sport in India. With IPL completing 10 years, its popularity has grown significantly. Our IPL association has proved to be a prudent outreach initiative for the Group. We believe this association will help us engage with cricket fans across the country irrespective of which team they support. The Muthoot Group brought together its brand ambassadors, Shri Amitabh Bachchan and CSK, in a high-energy and action-packed music video that captures the exhilaration of IPL, set to the widely popular The Muthoot Finance song. Further, we indulged in several below the line activities like auto branding, human banners, van branding, auto munadi activities to reach the target audience. Merchandise like key chains, branded mugs, cricket gear signed by players, caps, hand fans, umbrellas and cheering materials for supporters in the cricket stadium were also developed. The Chinnaswamy Stadium, Chennai, was all decked up with Muthoot CSK branding for its first IPL match after a gap of two years. Muthoot Finance Limited Corporate Overview 7 POWER of 7 Association with Jaipur We launched our magnum opus 4 Pink Panthers communication for the IPL, a music At Muthoot Finance Limited, we Crafting lyrics of the Hindi version video titled ‘Life Main Aagey Badhiye’, specially focus on promoting Kabaddi, was two-time National Award-winning during the year. The Muthoot Group’s as we have about 70% of our branches lyricist, Shri Swanand Kirkire. song-dance-music video aims to deliver in the rural and semi-urban areas of its brand’s message of transforming the country.
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