Business momentum healthy; earnings down QoQ

Company
02 Aug 2024
5 Min read 
  • Indostar Capital Finance reported healthy business momentum in 1QFY25 
  •  Disbursements grew ~46% YoY to ~INR16.3b and Retail AUM grew ~34% YoY to ~INR92b 
  •  Minor seasonal deterioration in asset quality with GS3 increasing ~10bp QoQ to ~4.2% 
  •  Financial highlights: Indostar reported a PAT of INR249m, down 29% QoQ due to a one-off in other income in 4Q FY24 
  •  The company is in an expansion phase and will add 80-100 branches in FY25 
  •  With better visibility on disbursement momentum, a CAGR of 41%/52% in AUM/PAT CAGR over FY24-26 is estimated.
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