Indostar Capital Finance Limited

Indostar Q1 FY24 result highlights from investor presentation:

• AUM : 8062 crs (AUM break up : CV – 3928, HFC – 1741, SME – 1177, Corporate lending – 1190)

• Disbursements for – Q1FY24 : 1,116 crs. For the Entire FY23 the Disbursements were at 2,099 crs

• Disbursement break up : CV – 755 crs, HFC – 190 crs and Corpotare lending – 171 crs

• Consolidated Gross Stage 3 : 6.6% and Net Stage 3 : 3.1%

• CRAR : 34.4%

• PAT for Q1FY24 : 38.9 crs (Q4FY23 and FY23 includes reversal of ₹ 50.5 crore & ₹ 44.2 crore on account of cancellation of unvested ESOPs)

• YOY NIMs : 6.5 % vs 5.5%

• Collection efficiency at 138.8%

• Capital Adequacy – 34% . Net worth – 3151 crs. Gearing ratio – 1.9x

Management is walking the talk as discussed on the last conference call, the disbursement engine is picking up and major chunk of disbursement is towards retail (CV and HFC). SME and corporate lending is showing de-growth. Disbursements are picking up and Ratings upgrade will reduce the cost of funds going forward. According to me this PAT figure should be the baseline number.
Disclosure : Invested