Indostar Capital Finance Ltd

₹ 152 -3.51%
03 Feb - close price
indostarcapital.com BSE: 541336 NSE - BE : INDOSTAR
About

Business Review
Indostar Capital Finance Ltd. is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a non-deposit-taking company. It is engaged in Corporate lending & retail lending which includes commercial vehicle finance, SME finance & housing loan finance. [1]
It commenced operations in 2011 as an NBFC focussed on financing the corporate sector. In 2016, Company diversified its business from a corporate lender to a retail-focused NBFC. [2]
It has 217 branches across 18 states in Dec 2020. It expanded from 129 branches (Dec 18) with the addition of 58 branches for the commercial vehicle finance segment. [3] [4]

Key Points

AUM Breakup
IndoStar’s AUM stood at Rs. 9,658 crore by the end of FY22, as compared to Rs. 8,990 crore in FY 2021. [1] The AUM breakup is as follows -
CV Finance - 51%
SME Finance - 18%
Housing Finance - 15%
Corporate Lending - 16% [2]

Website BSE NSE - BE
  • Market Cap ₹ 2,075 Cr.
  • Current Price ₹ 152
  • High / Low ₹ 277 / 117
  • Stock P/E
  • Book Value ₹ 218
  • Dividend Yield 0.00 %
  • ROCE -4.79 %
  • ROE -23.4 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.70 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.01% over past five years.
  • Company has a low return on equity of -14.4% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
407 369 319 318 317 285 267 245 255 250 292 258 237
136 168 679 83 92 107 445 159 72 123 1,092 72 59
Operating Profit 271 201 -360 235 226 178 -177 86 183 127 -801 186 178
OPM % 67% 54% -113% 74% 71% 62% -66% 35% 72% 51% -275% 72% 75%
0 0 0 0 5 0 0 0 0 10 0 0 0
Interest 203 195 193 182 182 175 154 134 132 119 129 132 131
Depreciation 7 7 8 7 8 8 8 8 8 9 9 9 9
Profit before tax 61 -1 -561 46 40 -4 -339 -55 43 10 -938 45 38
Tax % 25% 25% 25% 6% 31% 83% 8% 25% 25% 25% 18% 0% 0%
Net Profit 46 -1 -420 43 28 -1 -312 -41 32 7 -767 45 38
EPS in Rs 4.97 -0.08 -45.41 3.51 2.26 -0.06 -25.19 -3.35 2.61 0.53 -56.38 3.30 2.80
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
397 528 641 716 787 1,177 1,540 1,191 1,052 1,038
35 43 59 81 132 206 1,102 720 1,446 1,347
Operating Profit 362 485 582 634 655 971 438 470 -394 -309
OPM % 91% 92% 91% 89% 83% 82% 28% 39% -37% -30%
0 0 0 -0 -1 -0 -0 -4 1 11
Interest 192 258 289 312 326 561 857 692 514 511
Depreciation 1 1 1 2 4 17 28 31 34 37
Profit before tax 169 226 292 320 324 393 -448 -257 -941 -846
Tax % 34% 34% 35% 35% 35% 35% 24% 6% 18%
Net Profit 112 149 191 209 212 255 -340 -241 -769 -677
EPS in Rs 21.90 29.11 37.30 26.68 26.94 27.65 -36.79 -19.52 -56.53 -49.75
Dividend Payout % 0% 0% 0% 0% 0% 7% -3% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: -4%
TTM: -1%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -111%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -20%
1 Year: -41%
Return on Equity
10 Years: %
5 Years: -6%
3 Years: -14%
Last Year: -23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
68 68 73 78 79 92 92 136 136 136
Reserves 1,067 1,217 1,468 1,822 2,005 2,938 2,596 3,543 2,742 2,834
1,898 2,574 3,001 3,373 4,823 9,031 7,087 5,761 5,483 4,853
127 133 150 212 287 217 287 360 463 305
Total Liabilities 3,161 3,992 4,692 5,485 7,194 12,278 10,063 9,787 8,824 8,128
1 1 3 9 53 367 380 363 381 366
CWIP 0 0 0 0 8 0 0 0 0 0
Investments 61 55 10 197 1,067 502 432 1,788 977 1,162
3,099 3,936 4,679 5,280 6,065 11,409 9,251 7,636 7,467 6,600
Total Assets 3,161 3,992 4,692 5,485 7,194 12,278 10,063 9,787 8,824 8,128

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-691 -494 -1,951 1,752 1,264 -1,100
-194 -889 122 -2,272 -985 1,197
589 1,459 2,756 -382 -157 -293
Net Cash Flow -295 76 926 -902 122 -197

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0
Working Capital Days -113 194 201 216 -131 -29 57 -17 -92
ROCE % 14% 14% 13% 11% 10% 4% 5% -5%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
60.62 45.50 93.73 93.52 93.31 93.26 88.16 89.21 89.21 89.21 89.21 89.21
5.84 0.00 0.02 0.02 0.05 0.05 1.34 1.17 1.26 1.20 1.21 1.18
17.23 2.41 2.44 2.65 2.68 2.09 2.47 2.33 1.59 1.55 1.54 1.54
16.31 52.09 3.81 3.81 3.95 4.60 8.02 7.29 7.94 8.04 8.03 8.08

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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