• Customer book shift: About 11 lakh smaller-ticket borrowers with loans under Rs 30,000 left the system over the year, but overall AUM expanded due to rising ticket sizes in the Rs 50,000 and Rs 1 lakh categories.
• Lending rates and margins: Incremental borrowing costs rose by 50 to 60 basis points, prompting a 75 to 100 basis points hike in lending rates, with long-term sustainable NIMs projected at 11% to 12%.
• Branch expansion and guidance: The company maintained its standard initial AUM growth guidance of 15% for the year and plans to open 300 Muthoot Finance branches alongside 200 Belstar Microfinance branches.
• Belstar IPO plans: The board has put Belstar Microfinance's IPO plans on hold for about a year because the business has no immediate funding needs and is focusing on increasing its secured lending portfolio.