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Muthoottu Mini Financiers Ltd has announced its ratings upgrade to A- (Stable) from BBB+ (Stable) by CARE Ratings. The company has registered 25 per cent growth in FY22 and aims to close this fiscal with an AUM of ₹4,000 crore through its aggressive expansion plans.
Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Ltd, said, “Over the last three years, we have consistently received rating upgrades, and have successfully clocked an average growth of 22 per cent”.
The copmpany has chalked out aggressive expansion plans to increase its current branch network of 830 to 1,000 by the end of 2023. “We are on track to expand both vertically and horizontally by increasing the number of branches and at the same time we are focussing on the yield and performance of existing branches”, PE Mathai, Chief Executive Officer, said.
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