Five-star Business Finance Limited · NSE:FIVESTAR
Five-star Business Finance — Q2 FY2027 Earnings Presentation
40 slides from Five-star Business Finance's earnings presentation, Oct 26, 2026
Slide 1: Cover letter to stock exchanges
Date: October 26, 2026 The National Stock Exchange of India Limited, BSE Limited Exchange Plaza, Listing department, Bandra-Kurla Complex, First floor, PJ Towers, Bandra (E), Mumbai 400 051 Dalal Street, Fort Mumbai 400 001 Symbol: FIVESTAR Scrip code: 543663,974905,975246,975598 Sub: Investor Prese
Slide 2: Onwards & Upwards - Investor Presentation Q2FY2027
Reaching the Unreached Five-Star Business Finance Limited Onwards & Upwards Investor Presentation | Q2FY2027
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”) which have been prepared by Five-Star Business Finance Limited (the “Company”) have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Executive Summary | Q2FY27
Executive Summary | Q2FY27 Branches Loan Disbursement Loan Portfolio 875 ₹ 20,778 Mn ₹ 146,396 Mn +19 +75 +39% +74% +7% +14% Gross NPA 30+ DPD Profit After Tax 3.48% 11.50% ₹ 2,993 Mn +2 bps +84 bps -88 bps -67 bps +10% +5% Net Interest Margin* Return on Average AUM Return on Equity 19.87% 8.39% 15.
Slide 5: Executive Summary | H1FY27
Executive Summary | H1FY27 Branches Loan Disbursement Loan Portfolio 875 ₹ 35,742 Mn ₹ 146,396 Mn +75 +44% +14% Gross NPA 30+ DPD Profit After Tax 3.48% 11.50% ₹ 5,707 Mn +84 bps -67 bps +3% Net Interest Margin Return on Average AUM Return on Equity 19.91% 8.25% 14.86% +5 bps -65 bps -1.88% q-o-q y-
Slide 6: Commentary on Q2FY27
Commentary on Q2FY27 I am extremely happy to present to all of you, the details about another quarter of strong performance of Five-Star Business Finance Limited (“Five Star” or “Company”). The quarter ended September 30, 2026, saw Five Star delivering very strong numbers across various parameters.
Slide 7: Who We are
Who We are NBFC providing secured financial solutions to Small Business customers and Self-employed Individuals who are largely cut-off from formal lending ecosystem Deep understanding of customer behavior and strong knowledge of market and regional dynamics, having been operating in this segment fo
Slide 8: Our Journey
Our Journey CRISIL ICRA / CARE Ratings ICRA / CARE Ratings / India Ratings 2012 2014 2016 2017 2018 2021 2023 AUM 1,46,396 BB+ BBB- BBB / BBB+ A- A A+ AA- crosses INR 100 1,32,246 bn AUM crosses 1,18,770 INR 75 Listed on the Intense period of bn bourses; ₹ 146,396 Mn COVID; Maintained Strong Asset b
Slide 9: Shareholding – September 30, 2026
Shareholding – September 30, 2026 Others Promoter & 13.44% 18.39% Promoter Group Strong Promoter Holding AIF & QIB 4.31% Well-diversified cap table with Employees 1.89% strong participation from FIIs and Mutual Funds All Management team members Mutual Funds 18.95% hold shares / options amounting For
Slide 10: What We do
What We do Who are our What are the Five Star’s Customers challenges Capabilities Small Business Owners and Self-employed Given minimal banking habits, traditional Credit appraisal of informal income with individuals involved in everyday cash and underwriting methods are inadequate to minimum docume
Slide 11: Distribution
Distribution Strong distribution network driven by contiguous branch expansion 875 branches | 11 States / UT State-wise portfolio break-up 19 branches opened during the quarter State Branches Q2FY27 FY26 FY25 FY24 FY23 FY22 Tamil Nadu 216 27% 28% 29% 31% 35% 39% Andhra Pradesh 281 36% 36% 38% 37% 33
Slide 12: Proprietary Underwriting
Proprietary Underwriting Branch level Credit Appraisal Risk Mitigants inspection Pre-login assessment by the branch Field Credit Inspection Service-oriented businesses Basic verification of business, Independent visit to applicants’ Last impacted by macro down-cycles residence and background check o
Slide 13: Strong Tech Support
Strong Tech Support Tech supported Business Model Turnaround Time (# days) Robust Loan Origination System 12 A seamless LOS that integrates with banks, bureaus, account 10 9 9 9 8 8 8 8 aggregators, and data providers to streamline loan processing Secure API Ecosystem Multiple, high-security API int
Slide 14: Holistic Technology Usage
Holistic Technology Usage Application Stack Tech Infra Analytics ML / AI Digital Loan Origination Cloud-Native Foundation Unified Data Foundation AI Enablement Digital journey from lead login to Resilient Cloud Infrastructure Comprehensive Data Lake Intelligent Document Processing automated disbursa
Slide 15: Strong Risk & Audit Oversight
Strong Risk & Audit Oversight Board of Directors Risk Management Committee Audit Committee Risks managed – Credit, Collateral, Portfolio & People risks Risks managed – Financial, Operational & Fraud risks ALCO Credit Committee Business Resource Statutory Audit External Internal Audit (Liquidity & AL
Slide 16: ESG @ Five Star
ESG @ Five Star ESG @ Five Star primarily revolves around the aspects of “S” (Social impact) and “G” (Governance) Comprehensive Policy & Governance of External Reporting ESG Business Responsibility and Sustainability Comprehensive ESG and BRSR policies Report (BRSR) is published as part of the appro
Slide 17: Social Impact Indicators: Financial Inclusion
Social Impact Indicators Financial Inclusion – Reaching the Unreached Financial Inclusion ▪ Caters to the underserved market of small business loans Company Vision ▪ Meets demand which is majorly catered by informal sources Reaching the Unreached through suitable credit solutions ▪ Employment opport
Slide 18: Social Impact Indicators
Social Impact Indicators Branch Presence 0% 2% 8% Tier1 Significant branch presence in Tier 3 to Tier 6 towns 16% Tier2 48% Tier3 Customers ignored by banks / larger FIs Tier4 ▪ Low-income borrowers Tier5 ▪ Customers with strong incomes from everyday services but Tier6 lacking the documentary eviden
Slide 19: Governance Framework
Governance Framework Strong Governance Framework Board of Directors • High Independent 1 4 1 1 Director representation Promoter Director Independent Directors Executive Director Non-Executive Director (including 1 Woman • Independent Directors Director) with diverse experience • High level of Risk N
Slide 20: Distinguished Board
Distinguished Board Lakshmipathy Deenadayalan T T Srinivasaraghavan Rajeshwari S Ramkumar Ramamoorthy Chairman & Managing Director Independent Director Independent Director Independent Director Chair – RMC Chair – Audit Committee Chair – IT Strategy Committee Sreeram Iyer** Thirulokchand Vasan Srika
Slide 21: Strong Management Team
Strong Management Team Lakshmipathy D Srikanth G Vishnuram J Parthasarathy S Ramesh Kannah Managing Director JMD & CFO Chief Operating Officer Chief Credit Officer Chief Legal Officer Vijayaraghavan Vanamali Sridharan Prashanth S Sai Suryanarayana Shankar Subramanian Chief Compliance Officer Chief T
Slide 22: Strong Management Team
Strong Management Team Murali Krishnan Seshathri S M Daniel Wilson Umar Farooq Sridharan Vembu Head – Business & Collections Head – Credit Head – Operations Head – Legal Head – Technology Delivery Sreenivas K Arun Kumar K Shylasree P Vinay Kumar C Ajitha K Head – Finance Head – Accounts Head – Admin
Slide 23: 10-Year Financial Snapshot
10-Year Financial Snapshot Particulars (₹ Mn) FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Number of branches 103 130 173 252 262 299 373 520 748 844 Loan disbursals 3,830 7,072 14,822 24,087 12,450 17,562 33,914 48,814 49,697 46,757 AUM 4,936 10,084 21,128 38,922 44,454 50,
Slide 24: Business Updates
Business Updates
Slide 25: Loan Book & Disbursements
Loan Book & Disbursements Loan Disbursement – Last 5 qtrs. (₹Mn) Loan Disbursement – Last 5 years (₹Mn) 20,778 48,814 49,697 46,757 14,964 33,914 11,959 12,133 9,764 17,562 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 FY22 FY23 FY24 FY25 FY26 Loan Portfolio – Last 5 qtrs. (₹Mn) Loan Portfolio – Last 5 years (
Slide 26: Financial Highlights
Financial Highlights Total Income – Last 5 qtrs. (₹Mn) Net Interest Income – Last 5 qtrs. (₹Mn) 7,073 8,750 6,447 6,672 6,265 6,337 8,387 8,222 8,261 8,065 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Profit Before Tax – Last 5 qtrs. (₹Mn) Profit After Tax – Last 5 qtrs. (₹M
Slide 27: Competitive Spreads
Competitive Spreads Portfolio Yield Cost of borrowing Spread 14 .00 % 23.20% 24.23% 24.27% 23.01% 24.05% 24.03% 13 .00 % 22.58% 22.46% 22.26% 23.10% 12 .00 % 10.51% 10.12% 11 .00 % 9.27% 9.71% 9.64% 9.12% 8.95% 9.21% 8.80% 10 .00 % 8.78% 9.0 0% 8.0 0% FY22 FY23 FY24 FY25 FY26 Q2FY26 Q3FY26 Q4FY26 Q1
Slide 28: Well-Diversified Portfolio
Well-Diversified Portfolio Low Concentration risk Diversified across ticket size bands 3% 1% 2% 10% 25% 24% 36% Sep’26 Jun’26 Sep’25 19% Up to 3L 25% 27% 30% 3-5L 49% 51% 53% 49% >5L 26% 22% 17% 4% Focus on building a diversified 27% portfolio across ticket sizes AP TN KA TS MP MH OTH <=3L 3-5L 5-10
Slide 29: Asset Quality Indicators
Asset Quality Indicators Gross NPA (%) Net NPA (%) 5.00 3.00 4.50 2.50 4.00 3.50 2.00 3.00 2.50 1.50 2.00 3.18 3.37 3.46 3.48 1.00 1.94 2.00 2.10 2.14 2.64 1.50 1.00 1.46 0.50 0.50 - - Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 PCR on GNPA (%) PCR on Overall AUM (%) 60.0 0
Slide 30: Asset Quality Indicators
Asset Quality Indicators 1+ DPD (%) 30+ DPD (%) Stage 2 POS Stage 3 POS 18.33 18.23 17.31 16.70 12.81% 12.69% 12.17% 12.38% 15.22 11.50% 2.64 3.18 3.37 3.46 3.48 9.53 9.63 9.31 8.92 8.02 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Slippage Ratio (%) Credit Cost to Average A
Slide 31: ECL Provisioning
ECL Provisioning As of Sep 30, 2026 (₹Mn) Stage 1 Stage 2 Stage 3 Total Loans Outstanding (Gross) 1,29,563 11,733 5,100 1,46,396 ECL Provision 163 352 2,014 2,529 Loans Outstanding (Net) 1,29,399 11,382 3,086 1,43,867 ECL Provision % 0.13% 3.00% 39.49% 1.73% As of June 30, 2026 (₹Mn) Stage 1 Stage 2
Slide 32: Liability Franchise
Liability Franchise 1% 1% 1% 1% 1% 1% 6% 7% 6% 18% 20% 17% 15% 20% 19% 17% 15% 12% Long Term Credit Rating 10% 10% 7% 12% 11% 10% 9% 10% 7% 17% 14% ICRA AA - Stable 10% 12% 17% 14% 14% 14% 15% CARE AA - Positive India Ratings AA - Positive 60% 56% 56% 58% 55% 57% 57% 61% 53% Short Term Credit Rating
Slide 33: Liability Franchise
Liability Franchise Cost of incremental borrowing Lender type (% of borrowing o/s) Incremental Borrowings (₹ Mn) Cost of incremental borrowings 6 6 5 5 4 7 7 13 11 11 11 11 10 10 9 4 4 5 6 6 8.56% 8.53% 8.33% 8.43% 8.19% 68 69 64 67 69 10,680 4,600 9,283 4,500 8,250 6.0 0% Q2FY26 Q3FY26 Q4FY26 Q1FY2
Slide 34: Strong Liquidity & ALM
Strong Liquidity & ALM Amount in ₹ Mn Liquidity buffer as of Sep 2026 Unencumbered cash & cash equivalents 12,867 Unavailed sanction from banks / FIs 11,200 Total Liquidity 24,067 Projected Cashflow Schedule (₹Mn) Q3FY27 Q4FY27 Q1FY28 Q2FY28 Opening Liquidity 24,067 24,038 26,208 27,860 Add: Princip
Slide 35: Financial Statements
Financial Statements
Slide 36: Balance Sheet
Balance Sheet Particulars (₹ Mn) Q2FY2027 Q1FY2027 Q2FY2026 Assets Cash & Cash equivalents 10,323 15,965 15,230 Bank balances other than cash & cash equivalents 954 935 7,017 Loans 143,901 134,809 1,26,072 - Loan portfolio 1,46,396 137,218 1,28,471 - Inter-Corporate Deposits 34 33 32 - Expected Cred
Slide 37: Profit and Loss Statement
Profit and Loss Statement Particulars (₹ Mn) Q2FY2027 Q1FY2027 Q2FY2026 Y-o-Y Q-o-Q H1FY2027 H1FY2026 Y-o-Y Loan Portfolio 1,46,396 1,37,218 1,28,471 14% 7% 1,46,396 1,28,471 14% Interest Income (1) 8,364 8,096 7,743 8% 3% 16,460 15,398 7% - Interest on loan portfolio 7,874 7,539 7,331 7% 4% 15,413
Slide 38: Financial Ratios
Financial Ratios Particulars Q2FY2027 Q1FY2027 Q2FY2026 H1FY2027 H1FY2026 Interest Income (as a % of average loan portfolio) 22.26% 22.46% 23.20% 22.35% 23.37% Interest Expenses (as a % of average borrowings) 8.78% 8.80% 9.27% 8.79% 9.40% Net Interest Income % 13.48% 13.66% 13.93% 13.56% 13.97% Tota
Slide 39: Glossary
Glossary Terms Explanation Loan Portfolio or AUM (Assets Under Management) represents the aggregate of current principal outstanding and overdue principal outstanding, if any, for all loan assets under Loan Portfolio or AUM management which includes loan assets held or securitised by the Company as
Slide 40: Thank You
For further information, you may please contact: Mr. Prashanth Sreenivasan – Chief – Treasury & Investor Relations prashanth@fivestargroup.in Thank You Mr. Srikanth Gopalakrishnan – JMD & Chief Financial Officer srikanth@fivestargroup.in Investor Relations – Five Star ir@fivestargroup.in
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