Can you elaborate how they have maxed out interest rates or costs? Their aggregated borrowing is still above 9%, their microfinance subsidiary is still borrowing at >11%. About costs, branch level costs of Muthoot is still way less than Manappuram.How is their vehicle and home portfolio subprime? Their vehicle NPA level is in-line with others (Shriram, Bajaj finance, etc.). Can you elaborate with numbers?
7 Likes