Lends primarily against commercial vehicles through 468 branches spread across 24 states, with smaller books in SME loans, Micro LAP and large corporate financing. Vehicle finance was 69.1% of segment revenue in the year ended March 2025, while discontinued operations (the divested housing finance business) made up 22.5%, and SME and large corporate lending together accounted for about 4%. The loan book (AUM) stood at Rs 8,244 crore in Q1 FY27, up 6% YoY, supported by Q1 FY27 disbursements of Rs 1,235 crore (up 44% YoY) and 1.72 lakh+ live accounts. Net Interest Margin widened to 8.8% as cost of borrowings fell to 9.9%, and Capital Adequacy sits at 34.8%. Asset quality remains pressured, with Gross Stage 3 at 4.84% of loan assets; collection efficiency was 97.3% in Q4 FY26. Employee cost is the largest operating expense at 24% of revenue, with no material input costs typical of a lending business. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Commercial vehicles (69%), Discontinued operations (23%), SME (3%), Large corporate (1%), Unallocated (4%). Vehicle-finance focused NBFC with scaling Micro LAP and recently divested housing finance business
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,163 | 1,174 | 1,393 | 1,404 | 1,393 |
| EBITDA (ex other income) | (333) | 853 | 846 | 819 | 949 |
| margin % | (28.6) | 72.6 | 60.7 | 58.3 | 68.1 |
| Owners' profit | (737) | 225 | 116 | 121 | 140 |
| EPS, as reported (₹) | (59.51) | 16.55 | 8.51 | 8.86 | 9.73 |
| ROE % · ROCE % | (25.1) · — | 7.2 · — | 3.6 · — | 3.3 · — | 3.7 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (1,564) | 899 | (2,208) | (1,061) | (989) |
| Capex | (23) | (7) | (13) | (22) | (9) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 345 | 373 | 373 | 344 | 357 | 346 | 347 | 364 |
| Profit before tax | 18 | 11 | 13 | 705 | 11 | 8 | (424) | 11 |
| Net profit | 32 | 28 | 36 | 546 | 10 | 8 | (424) | 11 |
| EPS (₹) | 2.33 | 2.03 | 2.66 | 40.02 | 0.77 | 0.58 | (26.24) | 0.71 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · Newspaper publication of 17th AGM notice | compliance | minimal | — | — |
| 2 Sept 2026 · IndoStar Capital sends AGM notice and FY26 annual report to shareholders | board shareholder meetings | medium | — | — |
| 1 Sept 2026 · IndoStar Capital submits BRSR for FY26, highlights ESG progress | general | medium | — | — |
| 1 Sept 2026 · AGM notice and Annual Report for FY2025-26 sent to members | board shareholder meetings | low | — | — |
| 1 Sept 2026 · IndoStar Capital 17th AGM scheduled for September 25, 2026 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Notice of 17th AGM to be held on September 25, 2026 via video conferencing | compliance | minimal | — | — |
| 26 Aug 2026 · Notice: Shares to be transferred to IEPF Account for FY 2019-20 | compliance | minimal | — | — |
| 26 Aug 2026 · Notice on transfer of shares to IEPF Suspense Account for FY 2019-20 | compliance | minimal | — | — |
| 12 Aug 2026 · IndoStar Capital allots 63,045 shares under ESOP plans | capital market events | medium | — | — |
| 5 Aug 2026 · Q1 FY27 earnings call transcript: 44% YoY disbursement growth, NIM at 8.8% | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| MUTHOOT FINANCE LIMITED | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.0 | 1.1 | 117 of 245 | 52% |
| ROE | 3.7 | 3.0 | 121 of 266 | 55% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 44.6 | 48.6 | 130 of 249 | 48% |
| Revenue growth | 5.9 | 12.6 | 126 of 231 | 46% |
| Profit growth | (97.9) | 7.8 | 190 of 251 | 24% |
| Market cap | 3941 | 37 | 27 of 260 | 90% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
