Indus Finance Limited

Operates as a Non-Banking Financial Company (NBFC) that lends and earns fees on financial products. In FY26, total income of Rs 936.04 lakhs was made up mainly of interest income of Rs 400.02 lakhs and an insurance bonus of Rs 473.92 lakhs. The lending book shows stress — Rs 394.11 lakhs of loans were overdue beyond 90 days and Rs 171.47 lakhs of bad debts were written off in Q4 FY26. Borrowings were nearly halved to Rs 1,107.24 lakhs from Rs 2,027.05 lakhs in the prior year, which cut finance costs. The company also has material related party transactions approved with 9 group entities totalling about Rs 130 crores, including Indus Capital (Rs 40 cr) and Loyal Credit (Rs 20 cr). The biggest cost lines in FY26 were other operating expenses at 25.9% of revenue and employee cost at 12.2% of revenue, with no material spend on materials or depreciation. The small asset base of Rs 34.50 cr and a debt-to-equity of 0.0 point to a balance sheet that is mostly funded by equity, with lending assets as the main productive use of capital.