About Muthoot Mercantile Limited
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Muthoot Mercantile Limited is a public limited company based in Thiruvananthapuram, Kerala, India. It operates in the investment and credit NBFC segment of the financial services sector. It was incorporated on 03 March 1997 and has been in existence for over 29 years.
The company is registered with the Registrar of Companies (ROC), Ernakulam, under CIN U65921KL1997PLC011260. Its GSTIN is 32AABCM5297K1Z8 (Kerala). The company holds 12 GST registrations, all of them active.
The company has an authorised share capital of ₹252 Cr and a paid-up capital of ₹150.35 Cr. It is led by directors including Richi Mathew (Managing Director) and Mathew Mathaininan (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 1 Stfloor Northblock Muthootfloors Oppositew&Chospital Thycaud, Thiruvananthapuram, Kerala, India – 695014.
As per the financials filed for FY 2025, the company reported a revenue of ₹166.43 Cr, a growth of 26% compared to the previous year. For the same year it recorded a net profit of ₹28.09 Cr (net margin 16.9%) and EBITDA of ₹120.92 Cr (EBITDA margin 72.7%). Revenue has grown at a compounded annual rate (CAGR) of 35% over three years and 42% over five years.
The company has about 382 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Muthoot Mercantile Limited. As per MCA filings, the company has open charges of ₹1,496.43 Cr and satisfied charges of ₹1,021.2 Cr on record. Court records list 40 cases involving the company, including 19 filed by the company and 21 filed against it; 4 cases are pending. The company has 16 deals on record (12 secondary share transfers, 4 funding rounds), with disclosed funding of ₹22.2 Cr; the latest was in March 2020. Its 9 peer companies in the BFSI industry (Large NBFC, Mid Sized Non Deposit NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities) are compared by revenue, 4 larger and 5 smaller; the largest is Shree Capital Services Ltd. with revenue of ₹95.2 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website muthootenterprises.com.
Company details
Contact details
Muthoot Mercantile Limited's registered office is in Thiruvananthapuram, Kerala. Its website is muthootenterprises.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address1 Stfloor Northblock Muthootfloors Oppositew&Chospital Thycaud, Thiruvananthapuram, Kerala, India – 695014
- IndustryFinancial Services, Investment & Credit NBFC, NBFC
To see the full contact details of Muthoot Mercantile Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Muthoot Mercantile operates one associated brand: Muthoot Mercantile Limited. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Gold lending and investment services by Muthoot Mercantile Limited in India. | muthootenterprises.com |
Business activity
The main business activity of Muthoot Mercantile is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Muthoot Mercantile Limited, buy the company report.
Financials of Muthoot Mercantile Limited
FY 2025 filings availableMuthoot Mercantile Limited reported revenue of ₹166.43 Cr (up 26% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 42% over five years, including 26% growth in the latest year. EBITDA rose 28% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹166.43 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹120.92 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹28.09 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
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| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 72.7% | ||||
| Net Profit Margin | 16.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
| Payable Days | |||||
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| Net Profit Growth | |||||
To see the full financial statements and ratios of Muthoot Mercantile Limited, buy the company report.
Board of directors of Muthoot Mercantile Limited
Muthoot Mercantile has 7 current directors and 27 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Richi Mathew Also directs: Muthoot AI Labs Limited, Muthoot Syndicate Nidhi Limited, Muthoot Mutual Fund Limited and 3 more | Managing Director | 13 Aug 2018 | 8 Years 2 Months | Current |
| Mathew Mathaininan Also directs: Muthoot AI Labs Limited, Muthoot Syndicate Nidhi Limited, Muthoot Mutual Fund Limited and 1 more | Whole-Time Director | 15 Apr 2005 | 21 Years 6 Months | Current |
| Ammini Mathew Also directs: Muthoot AI Labs Limited, Muthoot Syndicate Nidhi Limited, Muthoot Mutual Fund Limited and 1 more | Whole-Time Director | 15 Jul 2007 | 19 Years 3 Months | Current |
| Asha Richi Mathew Also directs: Muthoot Syndicate Nidhi Limited, Muthoot Mercantile Nidhi Limited, Richi Mathew Securities Limited and 2 more | Director | 22 Sep 2022 | 4 Years 1 Months | Current |
| Dillark Justin | Director | 21 Oct 2022 | 4 Years 0 Months | Current |
| Pathrose Ladislas | Additional Director | 01 Feb 2026 | 0 Years 9 Months | Current |
Peer comparison
Muthoot Mercantile Limited is compared with the 9 companies closest to it by revenue in the BFSI industry (Large NBFC, Mid Sized Non Deposit NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Muthoot Mercantile Limitedthis company | ₹166.43 Cr (FY 2025) | ₹28.09 Cr | 16.9% | 26.0% | 382 | Thiruvananthapuram, Kerala, India |
| Shree Capital Services Ltd. | ₹95.2 Cr (FY 2019) | 27.0% | Kolkata, West Bengal, India | |||
| Julius Baer Capital (India) Private Limited | ₹94.89 Cr (FY 2018) | 21.0% | Mumbai, Maharashtra, India | |||
| Milky Investment and Trading Company | ₹94.75 Cr (FY 2019) | 134.0% | New Delhi, Delhi, India | |||
| Karvy Financial Services Limited | ₹94.71 Cr (FY 2019) | -77.0% | Mumbai, Maharashtra, India | |||
| Venus India Asset-Finance Private Limited | ₹94.6 Cr (FY 2022) | 60.0% | New Delhi, Delhi, India | |||
| Indel Money Limited | ₹94.49 Cr (FY 2021) | 50.0% | Mumbai, Maharashtra, India | |||
| RBS Credit and Financial Developments Pvt. Ltd. | ₹94.31 Cr (FY 2025) | 6620.0% | Kolkata, West Bengal, India | |||
| Best Finance Corporation Limited | ₹94.16 Cr (FY 2025) | 56.0% | Tirupur, Tamil Nadu, India | |||
| Pilot Consultants Private Ltd. | ₹94.05 Cr (FY 2025) | -55.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Muthoot Mercantile Limited, buy the company report.
Auditor
Muthoot Mercantile Limited is audited by MOHANDAS AND ASSOCIATES- CHARTERED ACCOUNTANTS for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MOHANDAS AND ASSOCIATES- CHARTERED ACCOUNTANTS | FY 2023 | 02116S |
Shareholding
The shareholding of Muthoot Mercantile Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Muthoot Mercantile Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Jul 2026 | 101355973 | Others | ₹40 Cr | Open | |
| 17 Jun 2026 | 101314073 | Dhanlaxmi Bank Limited | ₹3.1 Cr | Open | |
| 13 Jun 2026 | 101362964 | Others | ₹131.03 Cr | Open | |
| 29 May 2026 | 101315868 | Others | ₹20 Cr | Open | |
| 18 Apr 2026 | 101288182 | Others | ₹1 Cr | Open |
To see the full charge records of Muthoot Mercantile Limited, buy the company report.
Total charge records: 225 View all charges
Deals & funding
Muthoot Mercantile Limited has 16 deals on record (12 secondary share transfers, 4 funding rounds), with disclosed funding of ₹22.2 Cr; the latest was in March 2020.
Deals on record (5 of 16)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jun 2019 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
| Aug 2018 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
| Jun 2018 | Secondary share transfer | Undisclosed | Seller: 4 individuals |
| Mar 2017 | Secondary share transfer | Undisclosed | Seller: 4 individuals |
To see the full deal history of Muthoot Mercantile Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Muthoot Mercantile Limited has 40 court cases on record: 19 filed by Muthoot Mercantile, 21 filed against it. 4 cases are pending and 36 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 21 | 9 | 2 |
| District courts | 16 | 10 | 2 |
| NCLT | 2 | 2 | 0 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 40)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Writ petition | Filed by the company against Thiruvananthapuram Municipal Corporation, and 2 others | Pending |
| District court, Central, Delhi | Court case (L I R) | Filed against the company by an individual | Pending |
| District court, Kanniyakumari, Tamil Nadu | Civil suit | Filed by the company against an individual | Pending |
| High Court | Writ petition | Filed by the company against State of Kerala | Pending |
| Madras High Court | Writ petition | Filed by the company against The Commissioner of Commercial Taxes | Disposed |
To see the full case history of Muthoot Mercantile Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Muthoot Mercantile Limited was last rated by Indiarating on 14 Mar 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 14 Mar 2023 |
To see the full credit ratings and regulatory alerts of Muthoot Mercantile Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Muthoot Mercantile Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Muthoot Mercantile Limited has a workforce of 382 employees on its EPFO records as of Oct 10, 2025, across 7 active EPFO establishments.
GST
Muthoot Mercantile has 12 GST registrations: 12 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 32AABCM5297K1Z8 | Kerala | Active | 01 Jul 2017 |
| 33AABCM5297K1Z6 | Tamil Nadu | Active | 01 Jul 2017 |
| 21AABCM5297K1ZB | Odisha | Active | 27 Mar 2019 |
| 27AABCM5297K1ZZ | Maharashtra | Active | 03 May 2019 |
To see the full GST registrations and return filing status of Muthoot Mercantile Limited, buy the company report.
Recent activity
Muthoot Mercantile Limited has 23 board changes on record since 2005: 8 appointments and 15 cessations. The latest: Pathrose Ladislas was appointed as Additional Director on 01 Feb 2026.
432 earlier events are in the company report.
Frequently asked questions
Muthoot Mercantile is an active public limited company based in Thiruvananthapuram, Kerala, India. The company works in investment and credit nbfc, within the financial services industry. It was incorporated on 03 March 1997 (29+ years old) and is registered under CIN U65921KL1997PLC011260.
Muthoot Mercantile has 7 current directors:
- Richi Mathew - Managing Director
- Mathew Mathaininan - Whole-Time Director
- Ammini Mathew - Whole-Time Director
- Asha Richi Mathew - Director
- Dillark Justin - Director
- Pathrose Ladislas - Additional Director
- Antony Robert John - Director
The latest financial statements of Muthoot Mercantile on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Muthoot Mercantile is 32AABCM5297K1Z8, registered in Kerala. The company has 12 GST registrations in all, of which 12 are active. Other active GSTINs include 33AABCM5297K1Z6 (Tamil Nadu), 21AABCM5297K1ZB (Odisha), 27AABCM5297K1ZZ (Maharashtra).
The CIN (Corporate Identification Number) of Muthoot Mercantile is U65921KL1997PLC011260. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Muthoot Mercantile has 40 court cases on record: 19 filed by the company and 21 filed against it. 4 are pending. Most are in the high courts.
Muthoot Mercantile was incorporated on 03 March 1997, making it 29+ years old. It is registered with the Registrar of Companies, Ernakulam.
Muthoot Mercantile has 16 deals on record (12 secondary share transfers, 4 funding rounds), with disclosed funding of ₹22.2 Cr; the latest was in March 2020.
The peers of Muthoot Mercantile by revenue are Shree Capital Services Ltd, Julius Baer Capital (India) Private Limited, Milky Investment and Trading Company, Karvy Financial Services Limited, Venus India Asset-Finance Private Limited and 4 more, all in the BFSI industry (Large NBFC, Mid Sized Non Deposit NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities).
Pathrose Ladislas was appointed as Additional Director on 01 Feb 2026. Arunkumar Vijayakumar Kalakumari was appointed as Company Secretary on 06 Mar 2025. Antony Robert John ceased to be Additional Director on 04 Sep 2023. Muthoot Mercantile has 23 board changes on record in total.
Muthoot Mercantile can be reached through the website muthootenterprises.com. Its registered office is in Thiruvananthapuram, Kerala, India.
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