Indostar Capital Finance Limited · NSE:INDOSTAR

Indostar Capital Finance — Q2 FY22 Earnings Presentation

57 slides from Indostar Capital Finance's earnings presentation, Nov 10, 2021

  1. Slide 1: Outcome of Board Meeting cover letter

    ICFL/LS/00174/2021-22 INDOSTAR 10 November 2021 BSE Limited National Stock Exchange of India Limited Listing Department, 1st Floor, Exchange Plaza, C-1, Block G, P J Towers, Dalal Street, Fort, Sandra Kurla Complex, Mumbai - 400 001 Sandra (E), Mumbai - 400 051 Scrip Code: 541336 Symbol: INDOSTAR Su

  2. Slide 2: Unaudited Standalone Financial Results

    INOOSTAR CAPITAL FINANCE LIMITED Annexure - I Regd Office: One World Center, Tower 2A, 20th Floor. Jupiter Mills Com pound, S 8 Ma,e, Mumbai • 400013, lndi,1 Tel: +91224Jl5?000 fa•: • 9 12243157010 CIN: L6SlOOMH2009Pl OG8-l60 Web5ite: www.indo5larc.1pital.com E: invest ouelation'i@indostarcapital.co

  3. Slide 3: Standalone Statement of Cash Flows

    INDOSTAR CAPITAL FINANCf l!MITtO Regd Office : One World Center, Towtt l.A. 20th Floor, Jupit er Mills Compound.SB Mar&, M umboi • 400013, India Tel: ..91 2l 431S7000 f ax: -,.91 22 43151010 CIN; L6S100MH2009PLC268L60 Website· www.indostarcapital.com E: inW$10r.re1a1i011s@indost arcapital.C<)m STATE

  4. Slide 4: Resolution Framework Disclosure Format

    INOOSTAR CAPITAL FINANCE UMITEO Re,e:d OHke: One World. Cent er, fo,.ve, 2A., 20,h f loor, Ju pi1er M ill$ Compound,$ 6 Marg, Mumbai - 400013, India n Tel: +91 43157000 Faic: 491 '2 0 1S7010 CIN: l65100MH2009PtC268160 Web$ite: www.ind'os!arcapital.com E: investor.relations@indost arc.aplt.tl.<om STA

  5. Slide 5: Independent Auditor's Review Report (Standalone)

    Deloitte Chartered Accountants One International Center Tower 3, 32nd Floor Haskins & Sells LLP Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Maharashtra, India Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001 INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL

  6. Slide 6: Independent Auditor's Review Report (Standalone) continued

    Deloitte Haskins & Sells LLP 5. We draw attention to Note 6 to the Statement in which the Company describes the continuing uncertainties arising from COVID 19 pandemic. Our conclusion is not modified in respect of this matter. For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm’s Registrati

  7. Slide 7: Unaudited Consolidated Financial Results

    Annexure - II lffl)OSTAR CAPITAl flNANCE LIMITEO Regd Offi~: On~ world Cent,er, Tower 2A; 20th floor, Ju piter Mills Compound, S. 8 Ma re, Mumbai - 400013, India Ttl; +91 22 43157000 Fa.111: +91 22 4315?010 CIN: t65100M H2009PLC268160 Website: www.indostarc-.1pi1al.c:om E: 1Me$t o r.relations@lindos

  8. Slide 8: Consolidated Statement of Cash Flows

    INDOSTAR CAPfTAl FINAN(( UMntO Recd Offic:t·: One Wol1d Ctnlitt, Jowtr 2A,. 20lh floOf, Jupllitr Milk Compound, S 8 M,ug. Momb1, • 400013, India Tel: •9122 43157000:faJC: t9l 22431S7010 CIN: L65100MH1009PlC263160 Website: www !ndosurcap1tal,com f: lnves1or.relations@)indost•1C111.:u1.el.corn 1. Sute

  9. Slide 9: Segment wise revenue, results, assets and liabilities

    INOOSTAR CAPITAL FINANCE LIMITED Rl!'gd o frKe: One World Cente1, To·m:r 2A. 20th Floor, Jupite• Mills Compound, S 8 Marg, M umbai - 400011, In dia Tel: t9122 43157000 f a;.;: t91 2:2 431.S7010 CIN: l65100MH2-009PLOIS8-l(i0 \'/ebsite: www.mdo 5tum1plt~J..com t : 1nve~l0f.relauo ns@in d o starcapital

  10. Slide 10: Independent Auditor's Review Report (Consolidated)

    Deloitte Chartered Accountants One International Center Tower 3, 32nd Floor Haskins & Sells LLP Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Maharashtra, India Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001 INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIA

  11. Slide 11: Independent Auditor's Review Report continued

    Deloitte Haskins & Sells LLP principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements

  12. Slide 12: Disclosures under Regulation 52(4)

    An-nL-)U).:'("e. 7"LI INDOSTAR Disclosures in accordance w ith Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter and half year ended 30 September 2021 Quarter ended Half Year ended Sr. No. Particular 30

  13. Slide 13: Related Party Disclosures

    INDOSTAR lndoStar Capital Finance limited (CIN: L65100MH2009PLC268160) Related Party Disclosures for lndoStar Capital Finance limited on Consolidated basis for the period ended 30 September 2021, prepared in accordance with Indian Accounting Standards 24 (IND AS 24). A. Relationships with related pa

  14. Slide 14: IndoStar reports PAT of ₹39 crores during Q2FY22

    Annexure - V IndoStar Capital Finance Limited BSE: 541336 | NSE: INDOSTAR | Bloomberg: INDOSTAR:IN IndoStar reports PAT of ₹ 39 crores during Q2FY22 INDOSTAR ● Crossed ₹ 1,000 crores for the first time in Retail disbursement , up 77% over Q1FY22 ● Retail AUM ~ ₹ 6,606 Crores - up from ₹ 6,193 Crores

  15. Slide 15: Press release continued

    replacement demand post the announcement of the scrappage policy. The company aims to be one of the key players in the used vehicle financing business. It will continue to maintain a vigilant approach in this segment with a razor-sharp focus on collections. Stable credit rating and robust liquidity

  16. Slide 16: Press release: provisions and About IndoStar

    Provisions and accelerated write- (2.8) 82.3 n.a. 32.8 n.a offs Profit After Tax 39.4 (36.8) n.a. 31.6 25% Consolidated financial update for the quarter ended September 2021 ● Net Revenue from Operations at ₹ 144.8 Crs ● Gross and Net NPAs at 4.7% and 2.3% respectively About IndoStar Capital Finance

  17. Slide 17: Q2FY22 Results Update

    Annexure - VI INDOSTAR INDOSTAR CAPITAL FINANCE LIMITED Q2FY22 Results Update 10 November 2021

  18. Slide 18: Disclaimer

    Disclaimer ..,; INDOSTAR This presentation and the accompanying slides (the “Presentation”) have been prepared by IndoStar Capital Finance Limited (“IndoStar” or the “Company”) solely for information purposes and do not constitute an offer to sell or, recommendation or solicitation of an offer to su

  19. Slide 19: Discussion Summary

    INDOSTAR Discussion Summary  Quarterly Results  Business Update  Strategy  Shareholding Structure

  20. Slide 20: Q2FY22 in perspective

    Q2FY22 in perspective ..,; INDOSTAR • PAT for Q2FY22 ₹ 394 million and H1FY22 ₹ 26 million • Crossed ₹ 10,000 million Retail disbursement for the first time. • Retail disbursement for Q2FY22 ₹ 11,075 million vs ₹ 2,045 million for Q2FY21 and 6,271 million for Q1FY22 • Collections continue to be stab

  21. Slide 21: Strong Liquidity & ALM

    Strong Liquidity & ALM ..,; INDOSTAR Particulars Oct-21 Nov-21 Dec-21 Q4 FY22 Q1 FY23 Q2 FY23 Opening cash & equivalents* 15,149 14,916 13,399 11,113 7,986 4,356 Loan repayment inflows [Principal] 766 937 1,071 2,698 2,776 3,470 Total inflow 15,915 15,853 14,470 13,810 10,763 7,826 Liability repayme

  22. Slide 22: Diversified Funding Profile

    Diversified Funding Profile ..,; INDOSTAR Funding Mix - Jun 2021 Funding Mix - Sep 2021 NCD 21% NCD 22% Equity 40% Equity 39% Banks 31% Banks 31% CP 0% Others 0% CP 1% Securitisation 8% Securitisation 7% Incremental Funding Mobilized Strong Credit Ratings ₹ mn Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Borrowi

  23. Slide 23: Steady reduction in the Corporate book

    Steady reduction in the Corporate book ..,; INDOSTAR Corporate Lending AUM (₹ mn) 45,270 43,067 36,267 31,646 28,687 29,287 24,760 22,872 19,096 18,710 16,304 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 6

  24. Slide 24: Expanding Reach

    Expanding Reach ..,; INDOSTAR 278 branches across 19 states HIMACHAL PRADESH PUNJAB 2 * Some branches have multiple operating segments 10 :--·-···········-········· -0 0 278 UTTARAKHAND 9 240 HARYANA -·-•···· ··-- 0 215 217 218 9 0 ·········••····-··- UTTAR PRADESH 212 18 0 NEW DELHI 265 3 202 208 2

  25. Slide 25: Q2FY22 performance: Key Highlights

    Q2FY22 performance : Key Highlights ..,; INDOSTAR  Strong Retail Franchise ~ 80% of AUM (v/s 73% in Execution of Retailisation Sep-20) Theme  ICICI partnership AUM ~ ₹ 4,135 mn  Comfortable liquidity; ~26% of Borrowings Strong Capitalisation &  CRAR 35% Liquidity  Debt : Equity ratio of 1.6x 

  26. Slide 26: Q2FY22 & H1FY22: Consolidated Profit & Loss Statement

    Q2FY22 & H1FY22: Consolidated Profit & Loss Statement ..,; INDOSTAR Particulars (₹ mn) Q2 FY22 Q1 FY22 QoQ % Q2 FY21 YoY % H1 FY22 H1 FY21 YoY % Revenue from operations 2,800 2,653 6% 3,392 (17%) 5,453 6,726 (19%) Interest expenses (1,352) (1,387) (2%) (1,854) (27%) (2,739) (3,692) (26%) Net revenue

  27. Slide 27: Consolidated Balance Sheet

    Consolidated Balance Sheet ..,; INDOSTAR Particulars (₹ mn) Sep-21 Jun-21 QoQ % Sep-20 YoY % Equity 36,779 36,291 1% 39,695 (7%) Borrowings 57,329 55,573 3% 71,427 (20%) Other liabilities 4,040 3,960 2% 2,391 69% Total liabilities 98,149 95,824 2% 1,13,513 (14%) Loan assets 71,670 67,827 6% 78,000 (

  28. Slide 28: Q2 FY22: Business Segment Performance

    Q2 FY22: Business Segment Performance ..,; INDOSTAR CV SME Housing Corporate Particulars (₹ mn) Consolidated ^ Finance Finance Finance Lending Revenue from operations 1,120 465 288 793 2,800 Interest expenses (443) (220) (150) (268) (1,352) Net interest income 677 245 138 525 1,448 People costs 245

  29. Slide 29: H1 FY22: Business Segment Performance

    H1 FY22: Business Segment Performance ..,; INDOSTAR CV SME Housing Corporate Particulars (₹ mn) Consolidated ^ Finance Finance Finance Lending Revenue from operations 2,299 917 584 1,380 5,453 Interest expenses (847) (439) (289) (567) (2,739) Net interest income 1,452 478 295 813 2,714 People costs

  30. Slide 30: Q2 FY22: Quarterly Performance Trend (1/2)

    Q2 FY22: Quarterly Performance Trend (1/2) ..,; INDOSTAR AUM (₹ mn) Loan Disbursements (₹ mn) 11,292 ■ On-book Loans ■ Off-book Loans • Corporate • 8,635 Retail Total 90,842 88,645 83,976 78,877 81,169 6,611 13,016 13,130 6,276 12,583 11,050 9,499 11,075 4,769 8,495 77,826 75,515 71,393 67,827 71,67

  31. Slide 31: Q2 FY22: Quarterly Performance Trend (2/2)

    Q2 FY22: Quarterly Performance Trend (2/2) ..,;INDOSTAR NPA (%) PAT (₹ mn) GNPA 4.4% - NNPA 4.5% • 4.7% • 316 394 ~ 242 2.9% 2.8% •• 2.1% ■ ■ 2.1% ■ 2.2% ■ 2.3% Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 1.8% -3,171 -368 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Net worth (₹ mn) Return Ratios^ & Capital Adequacy (

  32. Slide 32: Asset Quality

    Asset Quality ..,; INDOSTAR Gross NPA (₹ mn) Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 CV finance 578 805 2,900 2,613 2,775 SME finance 180 261 382 456 533 Housing finance 69 138 159 261 303 Corporate lending 1,546 1,076 - - - Total 2,372 2,280 3,441 3,329 3,611 Net NPA (₹ mn) Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q

  33. Slide 33: Discussion Summary

    INDOSTAR Discussion Summary  Quarterly Results  Business Update  Strategy  Shareholding Structure

  34. Slide 34: Retailisation Strategy on track

    Retailisation Strategy on track ..,; INDOSTAR AUM: CL vs Retail (%) Disbursements: CL vs Retail (%) ----- 90,842 88,645 83,976 78,877 81,169 2,152 6,611 - 8,635 6,276 - 11,292 73% 75% 72% 78% 77% 80% 95% 98% 100% 98% 28% 27% 25% 22% 23% 20% 5% 2% 2% Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q2 FY21 Q3

  35. Slide 35: Retail Business Volume

    Retail Business Volume ..,; INDOSTAR Retail AUM (₹ mn) Retail Disbursements (₹ mn) 68,617 68,160 67,116 66,056 11,075 61,928 8,538 9,152 9,911 11,028 10,045 8,495 17,495 17,994 18,338 18,535 17,669 7,825 6,271 4,769 5,302 42,584 41,014 2,603 5,199 38,866 36,493 2,045 34,214 1,201 1,346 856 850 760 1

  36. Slide 36: CV Finance (1/3)

    CV Finance (1/3) ..,; INDOSTAR CV Finance – Monthly Disbursement Trend (₹ mn) 2,699 2,703 2,423 2,310 2,043 1,918 1,596 1,374 1,396 1,238 944 574 284 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21  CV Finance AUM ₹ 36,493 mn  AUM of ICICI Bank tie-up ₹ 4

  37. Slide 37: CV Finance: Profit and Loss (2/3)

    CV Finance : Profit and Loss (2/3) ..,; INDOSTAR Particulars (₹ mn) Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Revenue from operations 1,459 1,287 1,292 1,178 1,120 Interest expenses (642) (526) (490) (404) (443) Net interest income 817 761 802 775 677 People costs 182 184 243 181 245 Operating expense

  38. Slide 38: CV Finance: Key ratios (3/3)

    CV Finance : Key ratios (3/3) ..,; INDOSTAR Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Branches & Employees Revenue from operations* 15.7% 15.1% 15.1% 16.0% 14.1% Net interest income* 8.8% 8.9% 9.4% 10.5% 8.5% 350 1,643 2,000 300 1,606 1,532 1,521 1,463 1,443 Operating expenses* 3.6% 4.0% 4.8% 6.2% 5.7

  39. Slide 39: SME Finance (1/3)

    SME Finance (1/3) ..,; INDOSTAR SME Finance – Monthly Disbursement Trend (₹ mn) 744 685 663 620 621 563 485 414 418 374 200 162 69 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21  SME Finance AUM : ₹ 18,535 mn  Assigned Portfolio : ₹ 3,679 mn 22

  40. Slide 40: SME Finance: Profit and Loss (2/3)

    SME Finance: Profit and Loss (2/3) ..,; INDOSTAR Particulars (₹ mn) Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Revenue from operations 419 432 536 452 465 Interest expenses (232) (242) (227) (219) (220) Net interest income 187 190 309 233 245 People costs 42 47 45 38 46 Operating expenses 16 20 37 13 1

  41. Slide 41: SME Finance: Key ratios (3/3)

    SME Finance : Key ratios (3/3) ..,; INDOSTAR Branches & Employees Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Revenue from operations* 12.6% 12.6% 15.3% 13.0% 12.9% Net interest income* 5.6% 5.5% 8.8% 6.7% 6.8% 89 89 88 87 88 103 Operating expenses* 1.8% 1.9% 2.3% 1.4% 1.6% ■ ■ ■ ■ ■ ■ 10 10 10 10 10 11

  42. Slide 42: Housing Finance (1/3)

    Housing Finance (1/3) ..,; INDOSTAR Housing Finance – Monthly Disbursement Trend (₹ mn) 534 489 424 376 387 336 278 303 270 206 186 190 90 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21  Housing Finance AUM : ₹ 11,028 mn  Assigned Portfolio : ₹ 1,373 mn

  43. Slide 43: Housing Finance: Profit and Loss (2/3)

    Housing Finance: Profit and Loss (2/3) ..,; INDOSTAR * Particulars (₹ mn) Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Revenue from operations 285 600 192 297 288 Interest expenses (132) (138) (126) (139) (150) Net interest income 153 462 66 158 138 People costs 51 53 24 49 62 Operating expenses 27 26 38

  44. Slide 44: Housing Finance: Key Ratios (3/3)

    Housing Finance : Key Ratios (3/3) ..,; INDOSTAR Branches & Employees Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Revenue from operations* 14.7% 14.9% 9.8% 13.9% 12.8% 361 303 Net interest income* 7.9% 7.9% 3.4% 7.4% 6.1% 275 274 294 271 Operating expenses* 4.0% 4.0% 3.1% 3.7% 3.9% Cost / Income 51.3% 5

  45. Slide 45: FY22 Restructuring Snapshot

    FY22 Restructuring Snapshot ..,; INDOSTAR No. of AUM under % of no. of % of Total no of Total AUM Q2FY22 Restructured Restructure Restructured Restructured Accounts accounts accounts AUM (INR mn) (INR mn) VF 68,101 4,376 36,493 3,242 6.4% 8.9% SME 2,637 190 18,535 2,137 7.2% 11.5% AHF 15,902 22 11,0

  46. Slide 46: Corporate Lending (1/3)

    Corporate Lending (1/3) ..,; INDOSTAR Corporate Lending AUM (₹ mn) AUM Breakup: RE vs. Non-RE 45,270 43,067 10% 10% 12% 19% 18% 36,267 31,646 28,687 29,287 24,760 22,872 19,096 18,710 90% 88% 16,304 82% 90% 81% Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY2

  47. Slide 47: Corporate Lending: Profit and Loss (2/3)

    Corporate Lending: Profit and Loss (2/3) ..,; INDOSTAR Particulars (₹ mn) Q2 FY 21 Q3 FY 21 Q4 FY 21 Q1 FY22 Q2 FY22 Revenue from operations 991 834 577 587 793 Interest expenses (488) (414) (350) (298) (268) Net interest income 503 420 227 289 525 People costs 15 17 18 40 (11) Operating expenses 59

  48. Slide 48: Corporate Lending: Key ratios (3/3)

    Corporate Lending : Key ratios (3/3) ..,; INDOSTAR Q2 FY 21 Q3 FY 21 Q4 FY 21 Q1 FY22 Q2 FY22 Revenue from operations* 13.7% 13.5% 10.0% 12.3% 18.2% Net interest income* 7.0% 6.8% 3.9% 6.0% 12.1% Operating expenses* 1.0% 0.4% 0.9% 1.3% 0.7% Cost / Income 14.7% 6.2% 21.8% 20.9% 5.7% Pre-provision ope

  49. Slide 49: Discussion Summary

    INDOSTAR Discussion Summary  Quarterly Results  Business Update  Strategy  Shareholding Structure

  50. Slide 50: Strategy

    Strategy ..,; INDOSTAR • To build a 100% retail company • To reduce the Corporate book to less than 10% of AUM by March 22 • To build a profitable retail platform with growth potential to deliver excellent value to all stakeholders • To build a separate collection vertical to achieve collections eff

  51. Slide 51: Laying foundation for future growth

    Laying foundation for future growth ..,; INDOSTAR 1. Strengthened Balance Sheet • Brought Brookfield as partner with ₹ 12,250 million primary capital and strengthened Capital adequacy and Liquidity • Created additional provisions to overcome Covid impact 2. Reduced Corporate Lending Exposure • On tr

  52. Slide 52: Entrepreneurial Leadership Team with Strong Sponsor Backing

    Entrepreneurial Leadership Team with Strong Sponsor Backing ..,; INDOSTAR  Several years of experience and in-depth understanding of the specific industry and geographic regions  Separate business & credit heads for each vertical  Strong alignment through large ESOP program II  20+ years of  30

  53. Slide 53: Entrepreneurial Leadership Team with Strong Sponsor Backing

    Entrepreneurial Leadership Team with Strong Sponsor Backing ..,; INDOSTAR  Several years of  31 years of  Several years of experience with experience in experience with financial banks & financial SME, Institutions  20+ years of Institutions commercial experience in banking, and  Previously  P

  54. Slide 54: Strong & Distinguished Board

    Strong & Distinguished Board ..,; INDOSTAR  14 committees composed of independent and non-independent directors and also employees1  Distinct and delineated responsibilities to ensure good corporate governance  Strong capital sponsorship also providing access to best industry practices and intern

  55. Slide 55: Discussion Summary

    INDOSTAR Discussion Summary  Strategy  Quarterly Results  Business Update  Shareholding Structure

  56. Slide 56: Shareholding Pattern

    Shareholding Pattern ..,; INDOSTAR Shareholding# as on 30 September 2021 Public 11.84% # Brookfield 51.93% Brookfield Indostar Capital EVERSTONE Mauritius 36.23%^ # Excluding CCPS ^ including Everstone Capital Partners II LLC & ECP III FVCI Pte Ltd ESOP is 4.3% of diluted shares capital (excluding C

  57. Slide 57: For Further Queries

    For Further Queries INDOSTAR INDOSTAR Salil Bawa Head Investor Relations Contact No: +91 9987644008 Email – sbawa@indostarcapital.com Email - investor.relations@indostarcapital.com Media Contact Snigdha Nair Adfactors PR Email - snigdha.nair@adfactorspr.com; indostar@adfactorspr.com

IndoStar Capital Finance — Q2 FY22 Earnings Presentation on 6ix