IndoStar Capital Finance Limited has published its unaudited financial results for the quarter, and half year ended September 30, 2025.
The company reported assets under management (AUM) of Rs 7,564 crore and disbursements of Rs 927 crore during the quarter, reflecting an 8.14 per cent growth over Q1 FY26. IndoStar continues to operate as a focused standalone NBFC with core segments in Vehicle Finance (VF) and Micro Loans Against Property (M-LAP).
The company’s weighted cost of funds (on papm basis) stood at 10.17 per cent in Q2FY26, marking a 67-basis points reduction compared to 10.84 per cent in Q2FY25. Operating costs declined by 13 per cent quarter-on-quarter and 6 per cent year-on-year, showcasing enhanced operational efficiency. Gross Stage 3 assets were at 3.04 per cent for Q1FY26, while Net Stage 3 stood at 1.13 per cent.
For Q2FY26, IndoStar recorded net revenue from operations at Rs 190.1 crore, up 20.2 per cent from the previous quarter and 14.6 per cent higher year-on-year. Operating expenses stood at Rs 121 crore, down from Rs 139.3 crore in Q1FY26.
The pre-provision operating profit surged to Rs 69.1 crore, a 265.6 per cent increase from Rs 18.9 crore in Q1FY26, while profit after tax was Rs 10.5 crore. The company’s capital adequacy ratio (CAR) stood at 37.2 per cent, with a leverage ratio of 1.4x, indicating a strong balance sheet position.
During the quarter, IndoStar announced key leadership appointments. Vishal Goenka joined as Non-Executive and Non-Independent Director effective August 28, 2025. Amit Kumar Khan was appointed as Chief Operating Officer (COO) for M-LAP on August 14, 2025.
Jasmine Bawa assumed charge as Chief Human Resources Officer (CHRO) from October 1, 2025, and Binoy Parikh was designated as Chief Compliance Officer from October 13, 2025.
IndoStar Capital Finance, co-promoted by Brookfield and Everstone, is a professionally managed NBFC offering financing solutions for used and new commercial vehicles and loans for small business owners. The company continues to focus on operational excellence, portfolio quality, and strengthening its leadership as a key player in India’s mid-market lending ecosystem.
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