Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health
• Education
• Environment
• Livelihood

Environmental Achievements

• Installed three windmills in Tamil Nadu with a combined power generation capacity of 3.75 Megawatt
• Solar Panel installation (details not specified)

Social Achievements

• Spent ₹ 141.25 lakhs on CSR activities focusing on health care, infrastructure improvement in orphanages, and addressing substance abuse among children and teenagers.
• Supported programs for people in wheelchairs, distribution of free Jaipur limbs, donated hearing aids, supplied N95 masks and sanitizers to Ernakulam General Hospital as part of COVID-19 prevention.

Governance Achievements

• Received Special Commendation by Golden Peacock Awards for Corporate Ethics 2020
• Received ET Now-Business Leader of the Year Award as Emerging Company of the Year
• Received Most Trusted Company Awards, 2019 by Company’s Research Report, IBC 2019

Climate Goals & Targets

Environmental Challenges

• Adverse macroeconomic turbulence
• Onslaught of COVID-19 pandemic
• Delinquencies increased in initial quarters due to natural calamities
• Economic slowdown due to COVID-19
• Increased delinquencies due to COVID-19 lockdown
• Competition from Banks and other NBFCs

Mitigation Strategies

• Increased focus on portfolio health
• Expanded Used Car business
• Expanded in districts of eastern India
• Constituted a COVID Response Team
• Engaged with customers through customer connect program
• Helped customers with financial assistance through Gold loans
• Investment in new products and geographies
• Augment digital and workforce capabilities
• Adopted stronger frameworks for portfolio and topline security
• Plans to reduce operational costs
• Recruitment and increments put on hold
• Plans to reduce financing costs

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• MPower Muthoot App
• WhatsApp Services

Awards & Recognition

• Golden Peacock Awards - Special Commendation for Corporate Ethics 2019
• ET Now-Business Leader of the Year Award as Emerging Company of the Year
• Most Trusted Company Awards, 2019 by Company’s Research Report, IBC 2019

Environmental Metrics

ESG Focus Areas

• Health
• Education
• Environment
• Livelihood

Environmental Achievements

• Installed three windmills in Tamil Nadu with a combined power generation capacity of 3.75 Megawatt and Solar Panel

Social Achievements

• Provided Covid insurance to employees, connected with Covid-affected employees regularly, sanitized offices & HUBs, introduced M-Insure-doctor on-call facility, worked out a reimbursement plan for vaccination doses for all employees, recalibrated employee skill sets through Learning & Development initiatives, ensured continued customer connection during tough times, initiated special schemes targeting niche customer segments.
• Supported Aashiana Rehab Centre, distributed medical and Covid preventive items to Chellanam PHC, provided sanitary and cleaning items to Govt. Women Home Thevara, handed over PPE kits to Kalamassery Govt Med. College, provided reusable gowns to GH Ernakulam operation theatre, distributed grocery items at Snehadeepam, supported VENDA initiative to stop substance abuse among children, and implemented women empowerment programmes.

Governance Achievements

• Complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board Meeting and General Meetings
• Established a comprehensive Whistle Blower Policy
• Implemented a Fair Practice Code

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on the economy, leading to disruptions in business operations, reduced loan portfolio, and increased delinquencies.
• Reduction in loan volumes from North and Eastern states.
• Competition from Banks and other NBFCs.

Mitigation Strategies

• Proactive approach to strengthen organizational core, leveraging technological capabilities and timely execution.
• Recalibrated employee skill sets to meet new normal requirements.
• Increased focus on digital capabilities to ensure business continuity and customer service during lockdowns.
• Initiated special schemes targeting niche customer segments.
• Refocusing on growth in North and Eastern states in FY22.
• Expanding used car financing operations.
• Migrating to a robust loan management system and upgrading IT infrastructure.
• Maintaining a comfortable liquidity position and not seeking moratorium from lenders.
• Plans to scale up fixed deposits to lower the overall cost of funds.
• Protecting and consolidating the company’s position during the first half of FY22.
• Maintaining delinquencies, product portfolios, and quality, and close watch on credit processes.
• Control over costs.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NVGs

Sustainable Products & Innovation

• Mpower Muthoot App
• WhatsApp Services

Awards & Recognition

• ASSOCHAM National Awards for Excellence in Digital Services

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Social Achievements

• Established robust workplace policies to promote a conducive work environment, focusing on employee code of conduct, human rights, equal work opportunities, gender diversity, employee well-being and safety, performance reviews, and remuneration.

Governance Achievements

• Promote strong corporate governance and ethical work culture through policies and guidelines on board diversity and inclusion, anti-bribery, anti-corruption, anti-money laundering, IT/data privacy and security, whistleblower, and corporate taxation.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NVG (National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business), NGRBC (National Guidelines on Responsible Business Conduct)