Indostar Capital Finance Limited · NSE:INDOSTAR
Indostar Capital Finance — Q4 FY25 Earnings Presentation
45 slides from Indostar Capital Finance's earnings presentation, Apr 29, 2025
Slide 1: Stock exchange cover letter for investor presentation
ICFL/LS/0038/2025-26 April 29, 2025 BSE Limited National Stock Exchange of India Limited Listing Department, 1st Floor, Exchange Plaza, C-1, Block G, P J Towers, Dalal Street, Fort, Bandra Kurla Complex, Bandra, Mumbai - 400 001. (E), Mumbai – 400 051. Scrip Code: 541336 Symbol: INDOSTAR Sub.: Inves
Slide 2: IndoStar Capital Finance Investor Presentation – March 2025
INDOSTAR CAPITAL FINANCE Investor Presentation – March 2025
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by IndoStar Capital 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: IndoStar 2.0
INDOSTAR 2.0 Focus on Higher Yield Diversifying Liability Asset Quality Cost Optimization products Franchise o Recalibrated with high yield, low ticket o Technology enabled collections o IndoStar’s long term facilities' rating o Leveraging technology across loan secured products minimising cash hand
Slide 5: Continued Focus Areas
Continued Focus Areas Continuously evolving Expanding the use of Ensuring a robust Digitalization product offerings data and systems balance sheet Expanding distribution Expanding customer Automating controls and Being agile and footprint lifetime value alerts to minimize risk future-ready 4
Slide 6: Key Performance Highlights – FY25
Key Performance Highlights – FY25 Consolidated AUM Disbursements ₹ 11,053 crs ₹ 6,457 crs FY24: ₹ 8,763 crs FY24 : ₹ 5,497 crs PAT Branches ₹ 120.5 crs 587 Branches FY24: ₹ 115.8 crs FY24: 515 Human Capital 5,763 FY24 : 3,999 5
Slide 7: Focused on retail, high-yield, granular, secured assets
Focused on retail, high-yield, granular, secured assets Consolidated Break-up of Asset Under Management (₹ crs)* retailization largely complete 8,998 9,658 7,813 8,763 9,565 10,112 10,625 11,053 26% 388 371 3 19 52 (4%) (4%) (0%) (0%) (0%) 409 174 382 173 353 156 1,200 485 451 (4%) (2%) (4%) (2%) (3
Slide 8: Expanding the used CV portfolio & building Micro LAP
Expanding the used CV portfolio & building Micro LAP ICF Standalone Break-up of Asset Under Management (₹ crs) Retail Disbursements (₹ crs) 6,161 6,468 7,145 7,550 7,877 7,963 371 3 19 52 (5%) (0%) (0%) (1%) 5,221 388 174 173 156 54 (6%) 409 382 353 (2%) (2%) (2%) 451 (5%) (5%) (4%) 1,200 485 (19%)
Slide 9: National Footprint Creating Runway for Growth
National Footprint Creating Runway for Growth Consolidated No States 587 Branches Across 23 States & 1 UT 1 HIMACHAL PRADESH – 2 2 PUNJAB – 10 2 566 570 587 3 UTTARAKHAND – 9 515 541 10 141 4 HARYANA – 12 9 122 128 129 124 5 NEW DELHI – 2 6 UTTAR PRADESH- 38 31 6 9 391 419 438 441 446 7 RAJASTHAN –
Slide 10: IndoStar Capital Finance Limited
IndoStar Capital Finance Limited
Slide 11: Key Performance Highlights – FY25
Key Performance Highlights – FY25 ICF Standalone AUM Disbursements NIMs ₹ 7,963 crs ₹ 5,250 crs 5.6% FY24: ₹ 6,493 crs FY24 : ₹ 4,560 crs FY24: 5.5% Gross Stage 3 Net Stage 3 CRAR 4.52% 2.46% 28.5% CRAR FY24: 4.97% FY24: 2.09% FY24: 28.9% Net Total Income PAT Branches ₹ 671.6 crs ₹ 52.6 crs 446 Bran
Slide 12: Expanding the used CV portfolio & building Micro LAP
Expanding the used CV portfolio & building Micro LAP ICF Standalone Break-up of Asset Under Management (₹ crs) Retail Disbursements (₹ crs) 8,252 6,190 6,493 7,170 7,550 7,877 7,963 371 3 19 52 (5%) (0%) (0%) (1%) 4,307 4,253 388 174 173 156 (6%) 409 382 353 (2%) (2%) (2%) 1,543 1,200 485 451 (5%) (
Slide 13: Movement of Non-performing Assets
Movement of Non-performing Assets ICF Standalone NPA trends (%) Collection Efficiency (Inc Overdue)(%) 100.9% 94.7% 95.2% 97.0% 92.5% 4.97% 4.97% 4.97% 4.92% 4.52% 2.50% 2.71% 2.36% 2.46% 2.09% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Gross Stage 3 Net Stage 3
Slide 14: Movement in staging of loan assets
Movement in staging of loan assets ICF Standalone Particulars (₹ crs) Q4FY25 Q3FY25 Q2FY25 Q1FY25 Q4FY24 Gross Stage 1 & 2 7,127 7,032 6,976 6,695 5,985 ECL Stage 1 & 2 90 98 99 125 126 Net Stage 1 & 2 7,037 6,934 6,876 6,570 5,859 ECL Provision % 1.3% 1.4% 1.4% 1.9% 2.1% Particulars (₹ crs) Q4FY25
Slide 15: Diversified Borrowing Profile
Diversified Borrowing Profile ICF Standalone Diversified Funding Mix (Mar 2025) Raised ₹ 1,198 Cr during Q4FY25 2,361 6,049 6,171 7,189 6,944 6,916 266 7% 12% 15% 9% 7% 1,609 815 24% 19% 17% 21% 23% 1,198 16% 15% 28% 800 995 27% 22% 730 675 550 70 340 50 0 180 135 53% 52% 45% 47% 661 370 113 41% 500
Slide 16: Credit Rating remains Strong
Credit Rating remains Strong ICF Standalone Net-worth and Capital Adequacy Strong Credit Ratings 29% 28% 26% 29% 28% Borrowing Type Rating Firm Ratings CRISIL AA (–) Term Loans 3,408 3,426 3,102 3,166 3,186 CARE AA (–) CRISIL AA (–) Redeemable NCDs CARE AA (–) Net-worth (₹ crs) CPs CRISIL/CARE A1 (+
Slide 17: CV Finance
—! INDOSTAR “Your Path To A Better Life” CV Finance
Slide 18: Commercial Vehicle Finance
Commercial Vehicle Finance Average Loan to Value Disbursements Yield AUM of Average Ticket Size Used Vehicle Presence across Ratio is 71.0% in ~18.5% ₹ 7,401 crs ₹ 5.7 Lakhs Disbursement of 99% in 23 States Q4FY25 vis-à-vis Gross Stage 3 of 4.52% Disbursements in Q4FY25 73.8% in Q4FY24 Net Stage 3 o
Slide 19: CV Finance : Key Operational Parameters
CV Finance : Key Operational Parameters AUM (₹ crs) Loan to Value (%) 7,303 7,401 6,964 6,323 5,594 73.8% 73.4% 73.2% 72.1% 71.0% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Average Ticket Size (₹ lakhs) AUM Mix (Geography –Wise) (%) 8.2 14% 7.7 28% North 6.9 South 6.6 East
Slide 20: CV Finance : Key Operational Parameters
CV Finance : Key Operational Parameters Disbursements (₹ crs) Disbursements Yield (%) 1,424 1,407 1,449 1,265 1,046 18.2% 18.4% 18.5% 18.5% 18.5% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Disbursement Mix (Product) (%) Disbursement Mix (Geography) (%) Disbursement Mix (Ne
Slide 21: Niwas Housing Finance Private Limited
Niwas Housing Finance Private Limited
Slide 22: Indian Affordable Housing Finance Market expected to show Strong Growth
Indian Affordable Housing Finance Market expected to show Strong Growth Ticket Size (Rs) Players in Indian Mortgage Market Increasing Penetration in LIG & EWS Segments to Drive Growth 69% 41% Average LTS Affordable Housing Market MIG & Comprises of loans with ticket 17.1 35% sizes less than Rs 15 La
Slide 23: Future Ready to Seize Affordable Housing Market Opportunity
Future Ready to Seize Affordable Housing Market Opportunity Management Team Geographical Focus Ecosystem Play Robust Underwriting Micro LAP Play • Seasoned management • Geographical focus on • Remote access to • Centralized underwriting • Presence in tier 3 and 4 team supported by South & West India
Slide 24: Key Performance Highlights – FY25
Key Performance Highlights – FY25 HFC Standalone AUM Disbursements NIMs Gross Stage 3 ₹ 3,091 crs ₹ 1,207 crs 6.6% 1.4% FY24: ₹ 2,270 crs FY24 : ₹ 937 crs FY24 : 7.7% FY24 : 1.1% Net Total PAT Net Stage 3 CRAR Income 0.9% 49.8% ₹ 238.0 crs ₹ 67.8 crs FY24 : 0.8% FY24 : 57.4% FY24 : ₹ 182.8 crs FY24
Slide 25: Focusing on Growing Housing Finance Book
Focusing on Growing Housing Finance Book HFC Standalone Housing Finance – AUM Housing Finance – Disbursements (₹ crs) (₹ crs) 3,091 455 2,748 2,562 2,395 2,270 301 281 261 211 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 24
Slide 26: Housing Finance : Key Operational Parameters
Housing Finance : Key Operational Parameters HFC Standalone Average Ticket Size (₹ lakhs) Live Accounts 38,460 34,798 9.0 9.0 9.0 9.0 9.1 32,508 30,498 28,923 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Loan to Value (%) Geographical Distribution (Value –Wise) (%) 3% 3% 3%
Slide 27: Housing Finance : Key Financial Parameters
Housing Finance : Key Financial Parameters HFC Standalone AUM (₹ crs) Gross Stage 3 & Net Stage 3 (%) 3,091 1.90 1.80 +42% 2,270 1.40 1.35 CRAR 1.25 Gross Stage 3 1.10 1.13 1,623 0.90 0.81 0.90 49.8% 1,406 Net Stage 3 FY25 996 FY 21 FY 22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 PPOP & PAT (₹ crs) RO
Slide 28: Catering to Underpenetrated Segments across Product Types
Catering to Underpenetrated Segments across Product Types HFC Standalone Characteristics Salaried Self Employed Textile loom workers Retail workers Small traders Kirana shop owners FMCG workers School teachers Tea & snack vendors Vegetable vendors Profession Small time Manual labourers Helpers Micro
Slide 29: Process Excellence: Credit & Underwriting
Process Excellence: Credit & Underwriting HFC Standalone CREDIT & UNDERWRITING Assessment of Total Income (Individual & Evaluation of Profile and Property Risk Evolving Underwriting Processes Household) • Collecting KYCs -Aadhar, PAN, Credit history checks with • Building self learnings in the credi
Slide 30: Process Excellence: Collections & Monitoring
Process Excellence: Collections & Monitoring HFC Standalone Collection Process Pre Bounce / Delinquency • Use of Bounce prediction tool which provides with the pool of customers with high probability where focused efforts are put in to collect advance EMIs to avoid bounce • Sales team is responsible
Slide 31: Analytics driven Risk Management to control Delinquency
Analytics driven Risk Management to control Delinquency HFC Standalone Key Risk Management Aspects Monitored ✓ Robust dashboards developed in the system to enable real time monitoring of mentioned parameters Roll Rate Analysis Lagged Bounce Rate Analysis ✓ Dashboards are sent to branch managers to e
Slide 32: Financial Performance
—! INDOSTAR “Your Path To A Better Life” Financial Performance
Slide 33: ICF Standalone - Income Statement
ICF Standalone - Income Statement ICF Standalone Particulars (₹ in crs) Q4FY25 Q3FY25 Q-o-Q Q4FY24 Y-o-Y FY25 FY24 Y-o-Y Revenue from operations 372.5 373.2 390.7 1,403.9 1,104.2 Interest expenses 193.3 193.0 161.9 740.8 581.2 Net Interest Income 179.2 180.2 (0.5%) 228.7 (21.7%) 663.1 523.0 26.8% Ot
Slide 34: ICF Standalone - Balance Sheet
ICF Standalone - Balance Sheet ICF Standalone Equity & Liabilities (₹ in crs) Mar’25 Dec’24 Mar’24 Assets (₹ in crs) Mar’25 Dec’24 Mar’24 Financial Liabilities Financial Assets Trade payables 0.1 - 1.3 Cash and cash equivalents 91.9 108.1 387.7 Bank balance other than cash & cash equivalent 325.6 34
Slide 35: HFC - Income Statement
HFC - Income Statement HFC Standalone Particulars (₹ in crs) Q4FY25 Q3FY25 Q-o-Q Q4FY24 Y-o-Y FY25 FY24 Y-o-Y Revenue from operations 120.9 107.2 83.7 407.6 290.0 Interest expenses 47.3 47.1 33.5 171.1 107.6 Net Interest Income 73.5 60.1 22.3% 50.2 46.5% 236.5 182.4 29.7% Other Income 0.9 0.2 0.2 1.
Slide 36: HFC - Balance Sheet
HFC - Balance Sheet HFC Standalone Equity & Liabilities (₹ in crs) Mar’25 Dec’24 Mar’24 Assets (₹ in crs) Mar’25 Dec’24 Mar’24 Financial Liabilities Financial Assets Trade payables 3.7 0.2 19.9 Cash and cash equivalents 234.1 156.5 221.4 Debt Securities 71.4 71.8 52.3 Bank balance other than cash &
Slide 37: Consolidated Income Statement incl. Discontinued Operations
Consolidated Income Statement incl. Discontinued Operations Particulars (₹ in crs) Q4FY25 Q3FY25 Q-o-Q Q4FY24 Y-o-Y FY25 FY24 Y-o-Y Revenue from operations 372.6 373.2 390.7 1,404.2 1,102.9 Interest expenses 193.3 193.0 161.9 740.8 579.7 Net Interest Income from continuing operations 179.3 180.3 (0.
Slide 38: Consolidated Balance Sheet incl. Discontinued Operations
Consolidated Balance Sheet incl. Discontinued Operations Consolidated Equity & Liabilities (₹ in crs) Mar’25 Mar’24 Assets (₹ in crs) Mar’25 Mar’24 Financial Liabilities Financial Assets Trade payables 0.1 1.4 Cash and cash equivalents 96.1 613.9 Debt Securities 3,792.2 3,341.0 Bank balance other th
Slide 39: Ownership Structure and Management Team
Ownership Structure and Management Team
Slide 40: Large Global Private Equity Parentage
Large Global Private Equity Parentage Shareholding Pattern (As on March 2025) Shareholders (holding more than 1%) % 21.74% Promoters 73.29 2.68% BCP V Multiple Holdings Pte Ltd (Brookfield) 56.20 Everstone Group 17.09 2.29% Domestic Institutional Investors 2.29 73.29% ICICI Prudential Life Insurance
Slide 41: Experienced Management Team - IndoStar
Experienced Management Team - IndoStar Randhir Singh Karthikeyan Srinivasan Whole-Time Director and Executive Vice Chairman - ICF Chief Executive Officer and Whole-Time Director - ICF o He is a seasoned financial leader with 29 years of experience in o He has over 30 years of experience in the areas
Slide 42: Experienced Management Team
Experienced Management Team Shreejit Menon Chief Executive Officer - HFC o He is a Commerce Graduate and has a Master’s degree in Management Studies from University of Mumbai o He has several years of experience with financial institutions like Religare Housing Development Finance Corporation Limite
Slide 43: Esteemed Board of Directors
Esteemed Board of Directors Naina Krishna Murthy Chairman and Non-Executive Independent Director o She has more than two decades of experience in the legal sector. She is the Founder and Managing Partner of Krishnamurthy & Company o Over the years, Mrs. Murthy has built a strong reputation in corpor
Slide 44: Esteemed Board of Directors
Esteemed Board of Directors Bobby Parikh Non-Executive Non-Independent Director o He has nearly three decades of experience in financial services industry/reorganizations o His area of focus is providing tax and regulatory advice in relation to transactions and other forms of business reorganization
Slide 45: Thank You
COMPANY “Your Path To A Better Life” Indostar Capital Finance Limited CIN: L65100MH2009PLC268160 Email: investor.relations@indostarcapital.com Website: www.indostarcapital.com INVESTOR RELATIONS ADVISORS Thank You MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG
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