INDOSTARFinancial Services

IndoStar Capital Finance Limited

Non Banking Financial Company (NBFC) · ISIN INE896L01010 · BSE 541336 · NSE EQ · FV ₹10
Last price
₹229
+1.47%today
What this company does

IndoStar Capital Finance Limited operates in Non Banking Financial Company (NBFC), part of the Financial Services sector. It booked ₹364 cr of revenue in its latest quarter (Q1 FY27) and kept 3.2% of sales as profit.

In the report:
34out of 100
Equitytale Health Score
Strained

Healthier than 34% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 129–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns12

How much profit it earns on the money it employs

Cash quality23

Whether reported profit actually arrives as cash

Growth & consistency33

Whether sales and profit have grown, and how steadily

Valuation32

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 6% vs last year
Promoters hold 70%
No promoter shares pledged
Watch-outs
! Thin 3.2% net margin
! Profit down 98% vs last year
! Low 1.2% return on equity
! Operating cash flow is negative

What if I invest in INDOSTAR?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹229 +1.47%
latest close · 2026-09-17
1-year return
-20.4%
52-wk low ₹12952-wk high ₹309
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio80.8High
LowAverageHigh
P/B ratio0.98Below book
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity1.2%Weak
WeakFairStrong ▸15%
Net margin3.2%Thin
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.64Moderate
LowModerateHigh ▸1
More figures
Market cap
₹3,708 cr
Book value
₹234
EPS
₹0.71
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
0.5%
Earnings yield
1.24%
P/S
2.55
Sales / share
₹90.1
Tax rate
0.1%
Face value
₹10
Shares
16.2 cr
Working capital
Current assets
Current liabilities
Delivery %
61.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹51₹95, midpoint ₹73

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹364 cr
Other Income₹3 cr
Total Income₹367 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹88 cr
Finance Costs₹144 cr
Depreciation & Amortisation₹6 cr
Other Expenses₹35 cr
Total Expenses₹355 cr
Profit before Tax₹11 cr
Tax Expense₹1 L
Net Profit₹11 cr
Net margin on total income3.1%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹88 cr24.1%
Finance costs₹144 cr39.4%
Depreciation & amortisation₹6 cr1.8%
Other expenses₹116 cr31.7%
Tax expense₹1 L0.0%
Profit for the period₹11 cr3.1%
Total income ₹367 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue346 cr347 cr364 cr
Total income347 cr347 cr367 cr
Expenses338 cr771 cr355 cr
Profit before tax8 cr-424 cr11 cr
Tax1 L1 L1 L
Net profit (owners' share)8 cr-424 cr11 cr
Net margin (owners' share, on revenue)2.4%-122.3%3.2%
EPS (₹)0.58-26.240.71
YoY (latest quarter): total income +6.7% · net profit -97.9%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹9,517 cr
Shareholder equity
₹3,783 cr
parent shareholders
Total debt
₹2,403 cr
Cash
₹36 cr
Cash flow · H1 FY26
Operating
₹-243 cr
Investing
₹1,443 cr
Financing
₹-1,257 cr
Peer comparison
Non Banking Financial Company (NBFC) · by market value
CompanyPriceMarket capP/E
Bajaj Finance Limited₹1,015₹6.31 L cr26.4
Shriram Finance Limited₹995₹2.34 L cr16.7
Cholamandalam Investment and Finance Company Limited₹1,765₹1.51 L cr22.7
Tata Capital Limited₹344₹1.45 L cr23.5
Muthoot Finance Limited₹2,770₹1.11 L cr9.9
L&T Finance Limited₹302₹75,742 cr21.0
SBI Cards and Payment Services Limited₹637₹60,613 cr22.8
HDB Financial Services Limited₹681₹56,586 cr18.0
Sundaram Finance Limited₹4,663₹51,398 cr20.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 19 Nov 2019
ActionDetailEx-date
Dividend₹1 / share19 Nov 2019
Dividend₹1 / share22 Aug 2019
Dividend₹1 / share13 Nov 2018
Who owns it · 2026-06-30
No pledge
Promoter
70.4%
FII / Foreign
2.6%
DII / Domestic
2.2%
Retail / others
24.9%
Promoter stake down 4.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSHIVJEET SANJAY DESHMUKH · Other7,091 · ₹17.4 L31 Aug 26
SoldSHIVJEET SANJAY DESHMUKH · Other164 · ₹40,25031 Aug 26
SoldNagarajan · Designated Person2,960 · ₹7.4 L18 Aug 26
Bulk / block deals
short · NSE74914 Feb 25
BoughtROSY BLUE INDIA PVT. LTD. · NSE6.43 L @ ₹130.599 May 23
BoughtCARNELIAN ASSET ADVISORS PRIVATE LIMITED · NSE8.20 L @ ₹124.48 May 23
Stake changes
BoughtFlorintree Tecserv LLP→ 6.73% · 1.09 cr13 Jan 26
BoughtBCP V Multiple Holdings Pte Ltd.→ 55.98% · 1.39 cr20 Dec 25
BoughtFlorintree Tecserve LLP→ 7.37% · 1.09 cr25 Nov 25
What shareholders were asked to approve
4 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Sep 2025
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31,2025, along with the report(s) of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.09 L votes for, 191 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31,2025 and the report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.09 L votes for, 191 against · 0% of mutual funds and other big investors said no
3
To appoint a director in place of Mr. Devdutt Marathe (DIN: 10294876), who retires by rotation and, being eligible, offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
4.09 L votes for, 520 against · 0% of mutual funds and other big investors said no
4
Issue of non-convertible debentures under private placement
Backed by 100% of shareholders other than promotersneeded 75%
4.09 L votes for, 217 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 3 named members
owning 70.4% between them · as of 2026-06-30
Bcp V Multiple Holdings Pte Ltd.55.97%
Indostar Capital14.40%
Everstone Capital Partners II LLCno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

Money raised in Dec 2025 by selling shares to selected investors

As of Dec 2025, the company says it has spent 100% of what it set aside. CRISIL Ratings Limited watches the spending on the exchange’s behalf.

Growth Objectives of the Company: The Company shall utilize at least 75% of the Issue Proceeds to meet the funding requirements and growth objectives of the Company, including to augment the Company’s capital base, for onward lending by way of disbursement of loans to borrowers in the ordinary course of the Company’s businesses (including under the Company’s and subsidiaries’ commercial vehicle financing, housing finance, SME financing and retail lending businesses), in such manner and proportion as may be decided by the Board from time to time, in compliance with applicable laws (referred to below as “ICF Growth Objectives”).
spent more than set aside
133%
of what was set aside
General Corporate Purposes: Up to 25% (twenty five percent) of the Issue Proceeds will be utilised for general corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company, as applicable, in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws (referred to below as “General Corporate Purposes”).
0%
of what was set aside

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

Money raised in Nov 2025 by selling shares to selected investors

As of Dec 2025, the company says it has spent 100% of what it set aside. CRISIL Ratings Limited watches the spending on the exchange’s behalf.

Growth Objectives of the Company: The Company shall utilize at least 75% of the Issue Proceeds to meet the funding requirements and growth objectives of the Company, including to augment the Company’s capital base, for onward lending by way of disbursement of loans to borrowers in the ordinary course of the Company’s businesses (including under the Company’s and subsidiaries’ commercial vehicle financing, housing finance, SME financing and retail lending businesses), in such manner and proportion as may be decided by the Board from time to time, in compliance with applicable laws (referred to below as “ICF Growth Objectives”).
spent more than set aside
133%
of what was set aside
General Corporate Purposes: Up to 25% (twenty five percent) of the Issue Proceeds will be utilised for general corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company, as applicable, in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws (referred to below as “General Corporate Purposes”).
0%
of what was set aside

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.