Muthoot Finance has significantly upgraded its growth outlook for FY26, following a period of exceptional financial performance and favorable market shifts. **Growth Guidance and Strategic Outlook** The company has raised its annual growth forecast to a range of 44%–45% for FY26. This is a substantial jump from the previously revised guidance of 30%–35%. Management attributes this optimism to a surge in gold loan demand and a more supportive regulatory environment. **Q3 Performance Highlights** Standalone net profit for the third quarter nearly doubled, reaching 2,656 crore compared to 1,363 crore in the same period last year. This surge was primarily driven by a 64% increase in total income, which climbed to 7,263 crore. Profitability was further bolstered by a 47% reduction in provisions, which fell to 111 crore. **Market Value and Assets** Assets Under Management (AUM) reached 1.48 lakh crore, representing a robust 51% year-on-year growth. Gold loans specifically accounted for 1.40 lakh crore of this total. The market capitalization of the firm currently stands at approximately 1,63,275 crore. **Branch Expansion and Regulatory Support** Muthoot Finance plans to open 150 to 200 new branches in the coming year, exceeding its current annual target by 50 units. This expansion is supported by new Reserve Bank of India (RBI) norms that remove the requirement for prior approval for branch expansion for lenders with over 1,000 branches. **Gold Price Impact** A historic rally in gold prices, which saw domestic rates hit a 1.6 lakh milestone per 10 grams in February 2026, has fundamentally improved borrowing capacity. Higher collateral values have increased Loan-to-Value (LTV) outputs, allowing customers to access more capital with the same quantity of gold jewelry. **Stock Market Performance** The share price has reflected this momentum, trading near 4,067 as of February 12, 2026. The stock has seen a 52-week high of 4,150, marking a significant recovery and growth trajectory over the past year. **Subsidiary Performance** The company's microfinance arm, Belstar Microfinance, also returned to profitability in Q3 with a net profit of 51 crore, following losses in the first two quarters of the fiscal year. This highlights a broader recovery across the company's diversified lending segments.