Indostar Capital Finance Q2 Review - Making Steady Progress In Its Core Vehicle Finance Segment: Motilal Oswal

Motilal Oswal Report

Indostar Capital Finance Ltd. reported healthy business momentum in Q2 FY25. Key highlights:

1. consolidated disbursements grew ~36% YoY to ~Rs 17.2 billion and retail assets under management rose ~35% YoY to ~Rs 99 billion;

2. the company added 594 employees in Q2 FY25, taking the total count to ~5,170;

3. the CV segment contributed ~87% to the retail disbursement mix; and

4. asset quality was broadly stable with standalone gross stage-III remaining steady at ~5% and standalone net non-performing asset rising ~15 bp QoQ to 2.5%.

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