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Annual Report-1-Final Forward-looking Statement In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our prospects and take investment decisions. This report and other statements – written or oral - that we periodically make contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized although we believe we have been prudent in our assumptions. The achievements of the results are subject to risk, uncertainties, and even inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Our Promoters – The Muthoot Group* The Muthoot Group was founded in 1887 by Late Shri Ninan Mathai Muthoot in the remote village of Kozhencherry in Kerala. Today, The Muthoot Group has established for itself a formidable reputation and has garnered the trust of millions of customers. The success of the Group has its roots in its concern for the society and unceasing acts of altruism, the commitment and hard-work put in by its 30,000 strong workforce and the trust of its millions of loyal customers. Each day, we strive to keep our values and ethics intact to serve our customers with services of utmost quality, ensure a sustainable existence and rise up to contribute to the building of our nation. The Muthoot Group has 18 diversified divisions and over 4500 branches with a global presence. Over 2,53,000 customers visit The Muthoot Group branches every day. The Group recently celebrated 130 years of unblemished business excellence lending services to millions of underserved Indians leading to Financial Inclusion even in the most remote and rural areas of the country. Over the years, the Group has become a diversified business house with presence in financial services, plantations and estates, education, leisure and hospitality, healthcare, housing and infrastructure, information technology, wealth management, money remittance, forex, media, power generation, precious metal, securities, vehicle and asset finance and travel services among others. The Muthoot Group has not only grown exponentially but has also facilitated growth for a sizeable population of the country that falls in the underprivileged category. *(refers to entities promoted by Mr. M. G. George Muthoot, Mr. George Thomas Muthoot, Mr. George Jacob Muthoot and Mr. George Alexander Muthoot, operating under the brand name “The Muthoot Group”). Contents CORPORATE OVERVIEW 2 Aspirations of our customers drive us.... 3 ...And help us deliver on our stakeholder commitments 4 Delivering on evolving aspirations 5 Key Highlights 6 Key Performance Indicators 7 Presence of Muthoot Homefin 8 Message from The Muthoot Group Chairman 9 Message from CEO 10 Board of Directors 13 Senior Management Team STATUTORY REPORTS 17 Report of The Board of Directors 21 Management Discussion and Analysis Report FINANCIAL STATEMENTS 54 Balance Sheet 55 Statement of Profit & Loss 56 Cash Flow Statement 58 Notes to Accounts ANNUAL REPORT 2016-17 MUTHOOT HOMEFIN (INDIA) LIMITED Tribute to the Visionary Our founder, Shri M George Muthoot, envisioned the prospects of affordable financial services in India long back in 1939. His deep business insight and strong 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 ANNUAL REPORT 2016-17 MUTHOOT HOMEFIN (INDIA) LIMITED 1 Aspirations of our customers drive us…… Mr. Pawan Singh owns a small automobile spare part shop in Ambivili, Thane Dist. I am running my shop for the last 10 years. I was referred by a builder to Muthoot Homefin. The executive of Muthoot Homefin contacted me and explained to me the document that was required. He also explained the process of loan sanction and disbursement. My experience with Muthoot Homefin was hassle free and I quickly got the sanction and disbursement. I am highly satisfied by the services provided by Muthoot Homefin in helping me with buy my dream home. Mrs. Suvarna Vijay Patil is working as a Primary School Teacher in Boisar I was referred to Muthoot Homefin by my friend who had taken a loan from them. I am very happy for Muthoot Homefin fulfilling my dream of owning my own home. Their process was fast and are were very transparent in their dealings.Their executive also educated me about the benefits of the Pradhan Mantri Awaas Yojana Scheme which would be applicable on my Home loan. I appreciate their services and dedication towards fulfilling the dreams of customers like me. Mr. Ramesh Gavid working as a Police Constable in Kalyan Police Station I, Ramesh Gavid, am a Police Constable working in Kalyan. I got reference of Muthoot Homefin from the builder with whom I had booked my flat. I approached Muthoot Homefin for the home loan, the executive who came to meet me was knowledgeable and courteous. He collected my documentation and got my loan sanctioned quickly which helped me to buy the dream home for me and my family. I am very happy with the service provided by Muthoot Homefin. ANNUAL REPORT 2016-17 MUTHOOT HOMEFIN (INDIA) LIMITED 2 … And help us deliver on our stakeholder commitments A growing economy with a huge aspirational population is creating more and more opportunities for us. At the same time, Government push for the affordable housing is quietly changing the rules of the game, widening the canvas for home buyers. At Muthoot Homefin, we are expanding the scale and scope of the business at a time of interesting change. And the year gone by, saw us continue our rich tradition of value creation by implementing multiple initiatives. During the year, we strengthened our position as one of the most preferred and trusted home loan players in the markets we serve. Our role is to connect the dreams of New India with emerging opportunities, which will take the country to a new trajectory of growth. 3 Delivering on evolving aspirations Our story dates back to over seven decades. It began when M George Muthoot founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887. Today, we are fast growing affordable housing finance company in terms of loan portfolio. As part of our core business, we provide home loans to Lower Middle Income (LMI) and Economically Weaker section (EWS). We primarily cater to home buyers who cannot access formal credit within a reasonable time, or for whom credit may not be available at all. We help our customers to meet their dream of owning their own home. CORE VALUES OF THE MUTHOOT GROUP We take pride in our strong foundation, which is deeply rooted in the following pillars Ethics Our main aim is to put the needs of the customer first before anything else. We strive to provide the customers with the best quality of service under the Muthoot Brand Umbrella and we do the same with a smile. Values Accountability for all our operations, services and towards the society makes us a socially responsible and intelligent citizen. Our empire has grown leaps and bounds on the basis of these values. The times may change, but our values will remain unchanged. Reliability With an unblemished track record throughout the markets we serve; and across national as well as global boundaries, Muthoot Homefin values its commitment to customer-service. Dependability We do not judge ourselves by the profit we make but by the trust and confidence that people have shown in us for the past 130 years. Over 7 million people have turned to us for help in their hour of need just because of this guiding principal of ours. Trustworthiness We pledge loyalty in our operations, fairness in our dealings and openness in our practices. At Muthoot Homefin, we embrace policies and practices that fortify trust. Integrity The value is innate to a corruption-free atmosphere and an open work culture. We at Muthoot Homefin therefore cultivate transparency as a work ethic. Goodwill Muthoot Finance serves more than 7 million customers across the country. We serve over 1,30,000 customers each day to our customer base. With an unmatched goodwill, the Company shoulders the responsibility of providing its customers services of the highest quality. ANNUAL REPORT 2016-17 MUTHOOT HOMEFIN (INDIA) LIMITED 4 Corporate Overview Statutory Reports Financial Statements Key Highlights Loan Assets under Loan Team Management Account Members ` 441 Crs 4024 300+ Capital Adequacy Branches Sales Offices Ratio 9 110 36.60% Borrowing Yield NIM Cost 12.74% 9.43% 2.71% Return on Return on PAT Assets
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