Muthoot Finance Limited Annual Report

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Annual Report 2009-10

Empowering Lives. Transforming India.
MUTHOOT FINANCE LIMITED

Founder, Late Shri M. George Muthoot


Contents
01 Empowering Lives. Transforming India. 16 Our Promoters 27 Auditor's Report 34 Schedules 58 Balance Sheet Abstract

A life well lived is a life of fulfilled dreams. For over a century, it has been the endeavour of the Muthoot Group to empower people to achieve their dreams year after year, with renewed vigour, focus and commitment.

12 Performance Snapshot 17 Notice



14 More about Muthoot 18 Directors' Report 33 Profit & Loss Account 53 Cash Flow Statement

32 Balance Sheet 39 Notes Forming Part of Accounts

1

Annual Report 2009-10

Today, we stand at a historic point in time, a time when India is well poised to become an economic super power. Today, India is a land of young entrepreneurs wanting to make a mark in the global arena. It is a place full of dreamers committed to excelling in their field. It is a country where innovation has become the buzz word. More importantly, we now have an India which is 63 years younger. We are a nation blessed with a pool of young talent who seek, aspire, innovate and have ambitions to achieve success. We at Muthoot Finance Limited, stand committed to playing a part in propelling the growth story of our nation. We stand committed to powering ideas for the future. Muthoot Finance Limited was founded with an aspiration - an aspiration of an enlightened India, an India where everyone has access to credit, an India where financial inclusion is not just a subject of debate but a reality, an India where growth is all encompassing. Muthoot Finance Limited was founded in 1997. Our operating history has evolved over a period of 70 years since Late Shri. M George Muthoot (the father of our present Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887. Muthoot Finance Limited is India's largest gold loan company offering credit facilities through 1,605 branches* spread across the country. Over the last five years, we have lent more than ` 500 billion. At Muthoot, 9,745 members* of our team have empowered the lives of people across 20 states and two union territories (*As on 31st March,

2010) in India. We offer our clients a range of
customised gold loan products to suit their varied needs. We are constantly engaged in adding more clients and offering innovative products to suit their requirements. We foster entrepreneurship and innovation. We fuel the capital in transforming ideas into reality. We are constantly adding more solutions. More talent. More infrastructure. Today, we are at an inflection. We speak about growth, opportunities and achievement. We speak about a new India gearing to take the lead role in the future and we at Muthoot Finance Limited are committed to take part in this journey with renewed vigour and commitment. Welcome to Muthoot Finance Limited. A company committed to empowering lives. A company committed to transforming India.

Annual Report 2009-10

2

Since time immemorial, gold has held a special place in the heart of Indians.

Apart from being used as jewellery, gold is considered as a safe investment haven, protecting wealth against the vagaries of time and inflation. With an annual demand of close to 700 tonnes, India is one of the largest gold markets in the world, accounting for close to 10% of the global gold stock. As of FY09, accumulated gold stock in India is estimated at around 15,000 tonnes. Moreover, despite the rise in the price of gold from ` 15,026 to ` 51,000 per ounce during the period 2002-08, annual gold demand has remained fairly stable. This demand is essentially concentrated in rural areas of India with this segment holding around 65% of the total gold stock.* India is projected to become the

fastest growing economy in the world by 2013-15, propelled by a sterling demographic...
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