Improvement in CV business momentum; sell-downs in SME

Company

29 Jan 2024 | 5 Min Read

Indostar Capital Finance reported an improvement in business momentum during the quarter.

Disbursements rose by approximately 6% QoQ to around INR 13.5 billion.

The CV segment contributed around 83% to the retail disbursement mix.

Asset quality improved with GNPA/NNPA declining 140bp/90bp QoQ to 5.3%/2.4%.

The company aims to achieve an AUM of INR 100 billion by FY24 and INR 130 billion by FY25.

The stock has a BUY rating with a target price of INR 245.