Operational and Financial Highlights (Standalone)
Quarterly Performance (₹ in crore)
| Particulars | Q2 FY27 | Q1 FY27 | Q-o-Q % | Q2 FY26 | Y-o-Y % |
| Net Interest Income | 242.3 | 219.5 | 10% | 190.1 | 27% |
| Operating expenses | 133.2 | 129.5 | 3% | 121.0 | 10% |
| Pre-provision operating profit | 109.2 | 92.9 | 18% | 69.1 | 58% |
| Profit/(loss) after tax | 13.1 | 11.4 | | 10.5 | |
Key Metrics
- Disbursements: ₹1,399 crore in Q2 FY27, up 51% YoY
- Asset Under Management (AUM): ₹8,459 crore as of September 30, 2026, representing 12% YoY growth
- Capital Adequacy Ratio (CAR): 36.0% (Standalone) in Q2 FY27 vs 34.8% in Q1 FY27 and 37.2% in Q2 FY26
- Leverage (D/E): 1.6x in Q2 FY27 vs 1.5x in Q1 FY27 and 1.4x in Q2 FY26
- Weighted Average Cost of Funds: Declined to 9.7% in Q2 FY27 from 10.4% in Q2 FY26 (70 bps improvement)
- Incremental Cost of Funds: 9.1% in the quarter
- Asset Quality: Gross Stage 3 assets at 4.5%; Net Stage 3 assets at 2.4% as of September 30, 2026
Strategic Initiatives Progress
Portfolio Performance
- Vehicle Finance: Expanded by 3% QoQ
- Micro Loans Against Property (M-LAP): Expanded by 29% QoQ
Network Expansion
- Total branches: 475 locations across 24 states and union territories (added 7 branches during the quarter)
- Co-located Micro LAP branches increased from 125 to 154
Risk Management
- Maintained disciplined approach to credit risk through comprehensive borrower assessment
- Selective customer onboarding with proactive identification of potential stress indicators
- Limited exposure to new-to-credit customers
Business Focus
IndoStar is a retail-focused, middle-layered NBFC registered with RBI, engaged in secured, high-yielding lending across:
- Used Vehicle Finance (VF)
- Micro Loans Against Property (M-LAP)
Targeting credit needs of underbanked, underserved, and income-generating segments across tier 3, 4 & 5 markets.
Ownership Structure
Professionally managed and institutionally owned entity with Brookfield & Everstone as co-promoters.