IndoStar FY26: Retail focus, stronger margins, and a reset on legacy risk
Frequently Asked Questions
AUM was INR 8,056 crore as of Q4 FY26 (March 31, 2026).
The presentation positions IndoStar as a retail-led NBFC focused on Vehicle Finance and Micro LAP (Loan Against Property).
In FY26 highlights, gross Stage 3 was 4.8% (FY25: 4.5%), net Stage 3 was 2.1% (FY25: 2.4%), and Stage 3 PCR improved to 57.4% (FY25: 46.7%).
Standalone Q4 FY26 showed NII of INR 214.7 crore but PAT of -INR 424.0 crore, driven by credit costs of INR 517.3 crore. Management cited additional SR provisioning and a management overlay as key drivers.
The presentation states net SR exposure was about INR 589 crore in Q4 FY26 after an additional provision of INR 326.13 crore, taking net exposure coverage to 63%. Management expects redemption on large projects to start after 12 to 15 months and then occur gradually.
Management described a three-year framework through FY29, targeting 35% CAGR in disbursements, addition of about 100 branches over three years, and a PAT target of INR 450 to 500 crore for FY29.
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