IndoStar Capital Finance logo

IndoStar Capital Finance financials and balance sheet

NSE: INDOSTARBSE: 541336FinanceSmall Cap

Last close ₹162.79down ₹9.81 (5.68%)BSE ₹163.15

Share price at the NSE close on 23 Oct 2026. Previous close ₹172.60.

52-week range of traded prices to 23 Oct 2026
₹160.83Low, 23 Oct 2026₹292.00High, 29 Jul 2026
Market cap
₹2,632 Cr926th largest listed
P/E
Lossover the last 12 months
P/B
0.7
Dividend yield
Nonein the last 12 months
ROE
−10.6%
NIM
7.35%
Cost of funds
10.02%
Credit cost
15.61%
ROA
1.23%
Leverage
3.07times net worth
Volume, NSE
1,74,36352.6% delivered

9 years at a glance

Standalone, laid out as a lender that is not a bank files them. No figures on this form for the year to Mar 2017. A lender's lines are blank for the year to Mar 2018: the company's filing for those results has none of them.IndoStar Capital Finance annual reports

Net interest income, Net profit, ₹ crore

  • Net interest income
  • Net profit
  • Loss

Net interest margin, Return on assets, per cent

  • Net interest margin
  • Return on assets

Income

₹ crore, years to March.

₹ croreMar 2018Mar 2019Filed 19 JulMar 2020Filed 18 JunMar 2021Filed 18 JunMar 2022Filed 23 AugMar 2023Filed 26 MayMar 2024Filed 25 SepMar 2025Filed 29 AprMar 2026Filed 27 May
Total income–1,1771,4701,1931,0549731,1251,4121,394
Interest earned–1,0631,3501,1069568899151,1971,263
Interest paid–561788692514518581741621
Net interest income–502562413441371334456641
–114121889884210216131
Fees and commission–544831384751120100
Gains on fair value changes–4146482325213230
Gains on loans sold–18263257117550
Income outside operations–0051142181
The lines under it are parts of it, not all of it.–207315306329308389481506
Profit before provisions–409368195210147155190266
Set aside for bad loans–168154521,151−40831381,143
Exceptional items–00000001,176
Profit before tax361393−448−257−9411877253299
125138−108−16−172000169
Net profit236255−340−241−7691877253130
Other comprehensive income–000010−1−3
Total comprehensive income–255−340−241−7691887152127
Earnings per share₹29.95₹28.21−₹36.85−₹23.14−₹62.06₹13.76₹5.26₹3.86₹9.02
Diluted earnings per share₹27.03₹27.62−₹36.61−₹23.14−₹62.06₹13.76₹5.26₹3.74₹9.01

Balance sheet

₹ crore, at 31 March.

₹ croreMar 2019Filed 19 JulMar 2020Filed 18 JunMar 2021Filed 18 JunMar 2022Filed 23 AugMar 2023Filed 26 MayMar 2024Filed 25 SepMar 2025Filed 29 AprMar 2026Filed 27 May
Total assets12,2789,5729,7878,8248,1399,39010,7629,511
Loans given10,1837,5836,6926,4915,1965,9877,2177,434
Investments5024321,7889771,4571,5711,818982
Deposits–0000000
8,9056,6255,7615,4834,8136,0496,9165,477
Bonds and debentures3,5002,0892,0131,9781,1093,2883,7923,074
Loans5,4054,5363,7483,5053,7042,7623,1242,403
3,0302,6893,6792,8783,0233,1023,4263,778

Margins and returns

Per cent a year, on the average of the opening and closing balance sheets.

FigureMar 2019Filed 19 JulMar 2020Filed 18 JunMar 2021Filed 18 JunMar 2022Filed 23 AugMar 2023Filed 26 MayMar 2024Filed 25 SepMar 2025Filed 29 AprMar 2026Filed 27 May
Net interest margin–6.01%5.01%5.54%5.26%4.70%5.49%7.35%
Yield on interest-earning assets–14.44%13.41%11.99%12.60%12.87%14.42%14.47%
Cost of funds–10.15%11.18%9.15%10.06%10.70%11.43%10.02%
Spread–4.29%2.23%2.84%2.54%2.17%2.99%4.45%
Cost to income33.59%46.12%61.02%61.07%67.68%71.57%71.69%65.50%
Credit cost–9.18%6.34%17.46%−0.69%1.49%2.08%15.61%
Return on assets–−3.11%−2.49%−8.27%2.21%0.82%0.52%1.28%
Assets per rupee of net worth–3.823.042.842.872.863.092.81
Return on equity–−11.89%−7.58%−23.46%6.35%2.34%1.61%3.61%

Where the return on assets comes from

Per cent of average total assets, a year. Each line adds to the one below it. The year to Mar 2019, the first with a balance sheet on this form, has none a year before it to average with, so its ratios are blank.

Per centMar 2020Filed 18 JunMar 2021Filed 18 JunMar 2022Filed 23 AugMar 2023Filed 26 MayMar 2024Filed 25 SepMar 2025Filed 29 AprMar 2026Filed 27 May
Net interest income5.15%4.27%4.74%4.38%3.81%4.52%6.33%
Other income1.10%0.91%1.05%0.99%2.40%2.14%1.29%
Operating expenses2.88%3.16%3.54%3.63%4.44%4.78%4.99%
Profit before provisions3.37%2.02%2.26%1.73%1.76%1.89%2.63%
Set aside for bad loans7.46%4.67%12.37%−0.47%0.95%1.36%11.28%
Exceptional items0.00%0.00%0.00%0.00%0.00%0.00%11.60%
Profit before tax−4.10%−2.66%−10.11%2.21%0.82%0.52%2.95%
Tax−0.98%−0.16%−1.84%0.00%0.00%0.00%1.67%
Associates and businesses sold or closed0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Return on assets−3.11%−2.49%−8.27%2.21%0.82%0.52%1.28%

Cash flow

Standalone, ₹ crore, years to March.

₹ croreMar 2021Filed 18 JunMar 2022Filed 23 AugMar 2023Filed 26 MayMar 2024Filed 25 SepMar 2025Filed 29 AprMar 2026Filed 27 May
Cash from operations1,264−1,100962−1,719−1,061−989
Capital spending72258229
Free cash flow1,257−1,123958−1,727−1,083−998
Cash from investing−9851,197−233674−3042,259
Cash from financing−157−293−6361,2671,070−1,330
Dividends paid0580000
Shares bought back000000
Shares issued1,222600253212
Net change in cash122−19793223−296−60
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2018, Mar 2019 and Mar 2020.

Per share

Standalone, ₹ per share, years to March.IndoStar Capital Finance dividend history

₹ per shareMar 2018Mar 2019Filed 19 JulMar 2020Filed 18 JunMar 2021Filed 18 JunMar 2022Filed 23 AugMar 2023Filed 26 MayMar 2024Filed 25 SepMar 2025Filed 29 AprMar 2026Filed 27 May
Earnings per share₹29.95₹28.21−₹36.85−₹23.14−₹62.06₹13.76₹5.26₹3.86₹9.02
Diluted earnings per share₹27.03₹27.62−₹36.61−₹23.14−₹62.06₹13.76₹5.26₹3.74₹9.01
Dividend per share–₹2.00₹1.00––––––
Book value per share–₹328.41₹290.82₹297.34₹211.50₹222.12₹227.96₹251.74₹233.85
Dividend payout–7.2%–––––––
Shareholder yield–––−31.7%1.8%0.0%0.0%−6.1%−6.9%
Market cap at the year end (₹ crore)–3,8382,2913,8552,8731,4162,5904,1613,065

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Measure10 years5 years3 years
Revenue growth, yearly rate–3.2%12.9%
Profit growth, yearly rate––−11.4%
Return on equity, average–−1.9%2.5%
Net margin, average−3.1%−7.0%6.5%
Asset turnover, average–0.130.13

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations−3,908−3,769−989
Cash from investing3,5922,6292,259
Cash from financing791,007−1,330
Capital spending66399
Dividends paid5800
Shares bought back000
Shares issued for cash472465212

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

DateAgencyBorrowing ratedRatingOutlookAmount, ₹ Cr
30 Sep 2026CARE Ratings Limited (opens in a new tab)Securitisation NotesWithdrawnReview, Other
21 Aug 2026CARE Ratings Limited (opens in a new tab)Pass Through CertificatesWithdrawnReview, Other
28 Jul 2026CRISIL Ratings Limited (opens in a new tab)Commercial PaperCrisil A1+Review, Re-affirm2,000
28 Jul 2026CRISIL Ratings Limited (opens in a new tab)Non-convertible debenturesWithdrawnReview, Other25
28 Jul 2026CRISIL Ratings Limited (opens in a new tab)Bank FacilitiesCrisil AA-Review, Re-affirmStable435
28 Jul 2026CRISIL Ratings Limited (opens in a new tab)Non-convertible debenturesCrisil AA-Review, Re-affirmStable250
9 Jul 2026CARE Ratings Limited (opens in a new tab)Debentures-Non Convertible DebenturesCARE AA-Review, Re-affirmStable25
9 Jul 2026CARE Ratings Limited (opens in a new tab)Fund-based-Long TermCARE AA-Review, Re-affirmStable2,043.10
9 Jul 2026CARE Ratings Limited (opens in a new tab)Debentures-Non Convertible DebenturesWithdrawnReview, Other
9 Jul 2026CARE Ratings Limited (opens in a new tab)Commercial PaperCARE A1+Review, Re-affirm75
13 Feb 2026ICRA Limited (opens in a new tab)Sun SME Trust Feb 2022-PTC Series A[ICRA]AAA(SO)Review, Re-affirm25.57
10 Nov 2025CARE Ratings Limited (opens in a new tab)Direct Assignment-Assignee PayoutCARE AAA (SO)Review, Re-affirm41.50
29 Sep 2025CARE Ratings Limited (opens in a new tab)Debentures-Market Linked DebenturesWithdrawnReview, Other
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.