Muthoot Finance (MUTH) reported strong growth in gold AUM at 29% YoY vs 27% YoY (FY21). Overall cons. AUM grew by 25% YoY; management guided for 15% plus growth on conservative basis in FY22. Profitability growth was lower at 15% due to higher provisions. NII grew by 18% YoY led by decline in margins; while PPoP grew by 17% YoY led by lower other income. Provisions increased by 131% YoY (up 203% QoQ) due to asset quality deterioration. Stage III loan assets increased to 1.2% vs 0.9% QoQ, while Company carries excess provision of Rs2.95bn in balance sheet. On Non gold portfolio front, Restructuring stood at Rs17.3bn, however, stage III in VF and MFI business stands...