Annual Report of the Company for the Financial Year 2025-26

MCSL/SEC/26-27/166 August 07, 2026 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers Limited Dalal Street, Exchange Plaza, C-1, Block G, Mumbai - 400 001, Maharashtra Bandra Kurla Complex, Bandra (E), Scrip Code (Equity) - 511766 Mumbai - 400 051, Maharashtra Scrip Code (Debenture and CP) - 975282, Trading Symbol - MUTHOOTCAP 975513, 975662, 976146, 976183, 976213, 976233, 976363, 976458, 976806, 976898, 976933, 976965, 729732, 729733 and 730251 Dear Sir / Ma’am, Sub: Annual Report for the Financial Year 2025-26 Pursuant to Regulations 34, 53 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), please find enclosed the Annual Report of the Company for the Financial Year 2025-26, together with the Notice convening the Thirty-Second Annual General Meeting ("AGM") of the Company, scheduled to be held on Monday, August 31, 2026, at 11:00 a.m. (IST) through Video Conferencing ("VC") / Other Audio Visual Means ("OAVM"). The Annual Report along with the Notice of the AGM is also available on the website of the Company at www.muthootcap.com. In accordance with the applicable MCA and SEBI Circulars, the Annual Report along with the Notice of the AGM is being sent only through electronic mode to those Members whose e-mail addresses are registered with the Company or Integrated Registry Management Services Private Limited, the Company's Registrar and Share Transfer Agent ("RTA"), or the respective Depository Participants ("DPs"). Further, pursuant to Regulation 36(1)(b) of the Listing Regulations, the Company will send an intimation to those Members whose e-mail addresses are not registered with the Company/RTA/DPs, providing the web link and QR Code (including the exact path) from where the Annual Report can be accessed on the Company's website. Members who wish to obtain a physical copy of the Annual Report may send their request to secretarial@muthootcap.com, mentioning their Folio Number / DP ID and Client ID. Detailed instructions for attending the AGM through VC/OAVM and for remote e-voting/e-voting during the AGM are provided in the Notice of the AGM. Muthoot Capital Services Ltd, Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi - 682 035, Kerala P: +91-484-6619600, Email: secretarial@muthootcap.com, www.muthootcap.com CIN: L67120KL1994PLC007726 Cut-off Date and Remote E-voting Details: Pursuant to Section 108 of the Companies Act, 2013 read with the Rules framed thereunder, Regulation 44 of the Listing Regulations and the applicable MCA and SEBI Circulars, the Company is pleased to provide its Members with the facility to cast their votes electronically on all resolutions set out in the Notice of the AGM. Members holding shares either in physical or dematerialized form as on the cut-off date, i.e., Monday, August 24, 2026, shall be entitled to cast their votes electronically. The voting rights of Members shall be in proportion to their shareholding in the paid-up equity share capital of the Company. A person whose name appears in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the cut-off date shall only be entitled to avail of the facility of remote e-voting or e-voting during the AGM. The remote e-voting facility shall commence on Thursday, August 27, 2026, at 9:00 a.m. (IST) and shall end on Sunday, August 30, 2026, at 5:00 p.m. (IST). Thereafter, the remote e-voting module shall be disabled by CDSL. The Company has engaged Central Depository Services (India) Limited ("CDSL") to provide the VC/OAVM facility for participation in the AGM and the electronic voting (e-voting) facility. We request you to kindly take the same on your records. Thanking you Yours faithfully, For Muthoot Capital Services Limited Deepa G Company Secretary and Compliance Officer (Membership No.: A68790) Muthoot Capital Services Ltd, Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi - 682 035, Kerala P: +91-484-6619600, Email: secretarial@muthootcap.com, www.muthootcap.com CIN: L67120KL1994PLC007726 #MuthootBlue ENABLING INDIA'S 32nd ANNUAL REPORT ASPIRATIONS 2025-26 ACROSS THE PAGES 6-53 140-246 Corporate Overview Financial Statements 002 About Muthoot Pappachan Group 141 Independent Auditors' Report 008 C orporate Information 152 Balance Sheet 010 Our Branches 154 Statement of Profit & Loss 012 Our Journey 156 Statement of Cash Flows 014 Enabling India’s Aspirations 158 Statement of Changes in Equity 034 Strategic Objectives 2025-28 160 Notes to Financial Statements 035 Awards and Accolades 247-263 036 Message from Executive Director AGM Notice 038 Message from CEO 040 Board of Directors 47-139 SRI PAPPACHAN MUTHOOT Statutory Reports Founder (1927 - 2004) 047 Report of the Board of Directors 088 Management Discussion and Analysis Report 105 Report on Corporate Governance Real progress of a country is in the transformation of the life of its common man. MCSL ANNUAL REPORT 2025-26 001 ACROSS THE PAGES 6-53 140-246 Corporate Overview Financial Statements 002 About Muthoot Pappachan Group 141 Independent Auditors' Report 008 C orporate Information 152 Balance Sheet 010 Our Branches 154 Statement of Profit & Loss 012 Our Journey 156 Statement of Cash Flows 014 Enabling India’s Aspirations 158 Statement of Changes in Equity 034 Strategic Objectives 2025-28 160 Notes to Financial Statements 035 Awards and Accolades 247-263 036 Message from Executive Director AGM Notice 038 Message from CEO 040 Board of Directors 47-139 SRI PAPPACHAN MUTHOOT Statutory Reports Founder (1927 - 2004) 047 Report of the Board of Directors 088 Management Discussion and Analysis Report 105 Report on Corporate Governance Real progress of a country is in the transformation of the life of its common man. MCSL ANNUAL REPORT 2025-26 001 #MuthootBlue About Muthoot Pappachan Group ABOUT MUTHOOT PAPPACHAN GROUP The Muthoot Pappachan Group (MPG) is recognised for its generations. The next generation of leaders also plays an 47,000+ strong business practices, customer-centric approach, and active role in driving the Group's future ambitions. commitment to sustainable growth. Guided by the enduring MPG has a diversified presence across Financial Services, Employees values of trust, truth, transparency and tradition, the Group Hospitality, Automotive, Realty, IT Services, Healthcare, has built a reputation for creating long-term value for its Transparency Precious Metals, Global Services and Alternate Energy. With customers, employees, partners and communities. over 47,000 employees, more than 5,600 branches and a Beyond business performance, MPG remains committed to customer base spanning millions across India, the Group responsible growth and meaningful contributions to society. continues to expand its reach while staying true to its core This commitment is reflected in its efforts to support local principles and values. 5,600+ communities, protect the environment and create The Group remains committed to transparency, integrity sustainable impact through its various initiatives. Trust and fair business practices across all its ventures. Branches The Group traces its origins to 1887, when Late Muthoot Recognising that customer satisfaction is closely linked to Nationwide Ninan Mathai established a retail and wholesale grain employee engagement, MPG strives to foster a workplace trading business in Kozhencherry, Kerala. Built on a culture that encourages collaboration, innovation, foundation of transparent practices, customer trust and commitment and professional growth. ethical business principles, the enterprise steadily expanded MPG also believes that sustainable business success is over the decades. Chit Funds were introduced with a strong closely linked to the well-being of the communities and Truth community focus, and in the 1950s, the business entered the A Legacy of environments in which it operates. As a responsible gold [Showing first 8,000 characters — download PDF for full document]