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IndoStar Capital Finance

INDOSTAR NSE
₹190.77 −5.48 (−2.79%)
P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 4 Nov 2026 ₹190.77 −63.24 −24.9% 1Y
Start ₹254.01

Key Fundamentals

MicrocapFinanceFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

Debt to Equity
1.45
EPS (TTM)
−₹24.25
Book Value
₹233.98
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
0.82
ROE
−23.90%
Dividend Yield
0.00%
52W High
₹292.00
52W Low
₹160.83
Day Range
₹189.64 – ₹196.19
Volume
69,973
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › NBFC › Non Banking Financial Company (NBFC)

IndoStar Capital Finance peer comparison
Bajaj Finance
₹994.0028.53₹6,11,015 Cr5.020.62%18.20%—₹90,331 Cr₹22,067 Cr
Shriram Finance
₹908.7515.19₹2,13,704 Cr1.920.73%16.40%—₹51,877 Cr₹12,688 Cr
Cholamandalam Investment
₹1,658.0024.45₹1,42,243 Cr4.100.12%19.40%—₹32,663 Cr₹5,751 Cr
Tata Capital
₹337.7526.24₹1,41,036 Cr2.930.17%12.40%—₹32,695 Cr₹5,478 Cr
Muthoot Finance
₹2,709.809.57₹1,04,354 Cr2.481.19%30.90%—₹33,431 Cr₹11,457 Cr
L&T Finance
₹263.7020.75₹63,912 Cr2.261.09%11.20%—₹18,898 Cr₹3,198 Cr
SBI Cards
₹553.0023.14₹52,160 Cr3.060.47%14.70%—₹20,063 Cr₹2,275 Cr
IndoStar Capital Finance (this company)
₹190.77—₹3,141 Cr0.820.00%−23.90%—₹1,413 Cr−₹395 Cr
Median 8 companies₹730.8823.14₹1,22,695 Cr2.710.54%15.55%—₹32,679 Cr₹5,615 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

33 Poor

Data confidence 88/100

insider_selling

Category scores

Quality
29
Poor
Returns, margins, earnings quality 22% weight
Valuation
30
Poor
Cheap vs sector & own history 24% weight
Growth
36
Poor
Sales & profit trajectory 9% weight
Financial Health
25
Poor
Solvency, leverage, coverage 9% weight
Momentum
22
Poor
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has reduced debt.
  • Stock is trading at 0.83 times its book value

Weaknesses

5
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.66% over past five years.
  • Company has a low return on equity of -8.50% over last 3 years.
  • Promoter holding has decreased over last 3 years: -4.67%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish955
OscillatorsNeutral252
Moving AveragesStrong Bearish703

Key readings

RSI (14)
45.81
Neutral
MACD (12,26,9)
−7.81
Bullish
SMA (50)
218.14
Bearish
SMA (200)
225.42
Bearish

As of

Analyst Rating

Based on 3 analysts
BUY100%

3 of 3 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
3
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+8.02%
5Y+1.66%
3Y+5.75%
1Y−1.07%
TTM−1.94%

Net profit

Net profit growth by window
10Y−3.11%
5YTurned to profit
3Y−14.63%
1Y+15.70%
TTMTurned to loss

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹720 Cr
Mar 2018₹789 Cr
Mar 2019₹1,206 Cr
Mar 2020₹1,597 Cr
Mar 2021₹1,283 Cr
Mar 2022₹1,173 Cr
Mar 2023₹1,178 Cr
Mar 2024₹1,106 Cr
Mar 2025₹1,408 Cr
Mar 2026₹1,393 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹211 Cr
Mar 2018₹200 Cr
Mar 2019₹241 Cr
Mar 2020−₹325 Cr
Mar 2021−₹214 Cr
Mar 2022−₹737 Cr
Mar 2023₹225 Cr
Mar 2024₹116 Cr
Mar 2025₹121 Cr
Mar 2026₹140 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹5.08
Reported High Mean Low

Analyst consensus here uses a different definition from reported eps (they differ 2.3× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Indostar Capital Finance Ltd is a small-cap NBFC with a market cap of Rs 4,133 crore trading at 1.10x book value and a PE of 29.5x. The company has reported negative ROE of -8% over 3 years and -24% last year, with negligible sales growth of ~2% CAGR over 5 years, while promoter holding has declined by 18.8% over three years.

Bull Case 6
  • Company has actively reduced debt on its balance sheet, improving its capital structure
  • 3-year stock CAGR of 20% indicates market has re-rated the company from its lows despite operational challenges
  • 10-year compounded sales growth of 8% shows the company has historically been able to grow its loan book over longer cycles
  • PE of 29.5x implies the market is pricing in an earnings recovery from current depressed profit levels
  • TTM profit swing of -5530% suggests the company is transitioning from deep losses to profitability, with current PE reflecting early-stage recovery earnings
  • 3-year compounded sales growth of 6% shows revenue trajectory improving versus the 5-year CAGR of 2%
Bear Case 8
  • Return on equity is deeply negative at -24% last year and -8% over 3 and 5 year periods, indicating persistent capital destruction
  • 5-year compounded sales growth of just 1.66% is extremely poor for an NBFC in a growing credit market
  • Promoter holding has decreased by 18.8% over last 3 years, signaling potential lack of promoter confidence
  • Zero dividend yield despite reporting profits indicates either insufficient free cash flow or need to conserve capital
  • Low interest coverage ratio raises concerns about ability to service debt obligations from operating earnings
  • Stock has declined 25% over 1 year and has a negative 5-year CAGR of -6%, showing sustained underperformance
  • TTM sales growth of -1% indicates the top line is actually contracting in the most recent period
  • 10-year ROE of -4% shows the company has failed to generate positive returns on shareholder equity even over a full business cycle

This is AI-generated analysis, not financial advice. Do your own due diligence.

Quarterly Results

₹ Cr
INDOSTAR quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
299
234
238
391
307
352
373
373
344
357
346
347
364
Expenses
95
78
76
205
124
139
162
161
622
172
193
633
204
Financing Profit
49
16
17
24
16
26
18
18
−464
18
16
−418
15
Fin. Margin %
16%
7%
7%
6%
5%
7%
5%
5%
−135%
5%
5%
−120%
4%
Other Income
0
15
7
19
17
14
17
26
1,186
0
0
0
3
Interest
154
141
145
162
167
188
193
193
185
167
137
132
144
Depreciation
8
6
7
8.97
9.34
8
7
8
7
8
8
6
6
PBT
42
25
17
35
25
32
28
36
715
11
8
−424
11
Tax %
7%
0%
0%
0%
0%
0%
0%
0%
24%
0%
0%
0%
0%
Net Profit
39
25
17
35
25
32
28
36
546
10
8
−424
11
EPS (₹)
2.86
1.82
1.24
2.59
1.83
2.33
2.04
2.66
39.92
0.77
0.51
−26.24
0.71

Profit & Loss

₹ Cr
INDOSTAR profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
528
644
720
789
1,206
1,597
1,283
1,173
1,178
1,106
1,408
1,393
1,413
Expenses
43
61
83
145
244
1,142
758
1,495
321
429
586
1,620
1,202
Financing Profit
227
294
325
318
398
−408
−184
−862
277
97
82
−848
−369
Fin. Margin %
43%
46%
45%
40%
33%
−26%
−14%
−74%
24%
9%
6%
−61%
−26%
Other Income
0
0
0
−1
0
1
−2
1
1
47
69
1,187
3
Interest
258
289
312
326
564
863
709
540
580
580
741
621
580
Depreciation
1
1
2
5
18
30
34
35
40
28
31
29
28
PBT
226
293
323
312
379
−437
−219
−896
239
116
121
309
−394
Tax %
34%
35%
35%
36%
36%
−26%
−2%
−18%
6%
0%
0%
55%
—
Net Profit
149
192
211
200
241
−325
−214
−737
225
116
121
140
−394
EPS (₹)
29.1
37.42
26.9
25.46
26.1
−35.11
−17.3
−54.12
16.55
8.51
8.86
8.69
−24.25
Div. Payout %
0%
0%
0%
0%
8%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
INDOSTAR balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
68
73
78
79
92
92
124
136
136
136
136
162
Reserves
1,217
1,468
1,824
1,996
2,914
2,588
3,562
2,793
2,976
3,099
3,499
3,621
Borrowing
2,574
3,001
3,373
4,823
9,062
7,142
6,020
6,223
5,648
7,572
6,916
5,477
Other Liabilities
133
151
213
296
232
306
376
508
357
300
2,704
257
Total Liabilities
3,992
4,693
5,489
7,194
12,300
10,129
10,082
9,661
9,116
11,107
13,256
9,517
Fixed Assets
1
3
9
56
370
383
366
386
377
381
365
355
CWIP
0
0
0
8
0
0
0
0
0
0
0
0
Investments
55
0
187
1,007
301
231
1,591
548
1,039
1,118
1,818
982
Other Assets
3,936
4,690
5,293
6,123
11,629
9,515
8,125
8,727
7,700
9,608
11,073
8,180
Total Assets
3,992
4,693
5,489
7,194
12,300
10,129
10,082
9,661
9,116
11,107
13,256
9,517

Cash Flow

₹ Cr
INDOSTAR cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
−690
−547
−2,091
1,710
1,068
−1,564
899
−2,208
−1,061
−989
Investing
—
—
−194
−842
260
−2,272
−992
1,165
−259
683
−305
2,259
Financing
—
—
589
1,459
2,787
−354
35
200
−540
1,959
1,070
−1,330
Net Cash Flow
—
—
−294
71
956
−916
111
−199
99
434
−296
−60
Free Cash Flow
—
—
−697
−603
−2,114
1,668
1,064
−1,600
873
−2,222
−1,085
−1,002

Ratios

INDOSTAR financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
12%
14%
12%
10%
9%
−11%
−7%
−22%
7%
1%
0%
−24%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view IndoStar Capital Finance insights

58 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 70.33%
  • Public 12.93%
  • Others 12.26%
  • FIIs 2.75%
  • DIIs 1.73%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about IndoStar Capital Finance

What does Indostar Capital Finance Ltd do?
Incorporated in July 2009, ICFL is registered with the Reserve Bank of India (RBI) as a systemically-important non-deposit taking NBFC.
Where is Indostar Capital Finance Ltd (INDOSTAR) listed?
Indostar Capital Finance Ltd trades as INDOSTAR on the NSE and under code 541336 on the BSE.
Which sector does Indostar Capital Finance Ltd belong to?
Indostar Capital Finance Ltd is classified under the Financial Services sector, in the NBFC industry.
What is the 52-week high and low of Indostar Capital Finance Ltd?
Over the last 52 weeks Indostar Capital Finance Ltd has traded between ₹160.83 and ₹292 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Indostar Capital Finance Ltd?
Indostar Capital Finance Ltd reported a return on equity of -23.90%. Its debt-to-equity ratio is 1.45.

Company Information

Incorporated in July 2009, ICFL is registered with the Reserve Bank of India (RBI) as a systemically-important non-deposit taking NBFC.

Website indostarcapital.com
CEO Mr. Randhir Singh
Employees 4,304
Listed 21 May 2018
Face Value ₹10

For AI agents and developers

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