5413362025-10-012025-12-315413362025-12-315413362025-04-012025-12-315413362025-10-012025-12-31in-capmkt:OtherExpenses1Member5413362025-04-012025-12-31in-capmkt:OtherExpenses1Member5413362025-10-012025-12-31

ItemsThatWillNotBeReclassifiedToProfitAndLoss1

5413362025-04-012025-12-31

ItemsThatWillNotBeReclassifiedToProfitAndLoss1

5413362025-10-012025-12-31

ItemsThatWillBeReclassifiedToProfitAndLoss1

5413362025-04-012025-12-31

ItemsThatWillBeReclassifiedToProfitAndLoss1

5413362025-12-31

Statement1

5413362025-10-012025-12-31

Statement1

5413362025-12-31

Statement2

5413362025-10-012025-12-31

Statement2

5413362025-12-31

StatementDynamic1I1

Statement1

5413362025-12-31

StatementDynamic1I2

Statement1

5413362025-12-31

StatementDynamic2I1

Statement2

5413362025-12-31

StatementDynamic2I2

Statement2

iso4217:INRxbrli:pureiso4217:INRxbrli:shares

541336

INDOSTAR

NOTLISTED

INE896L01010

IndoStar Capital Finance Limited

Main Board

Equity

2025-04-01

2026-03-31

2026-02-09

2026-01-29

INR

Lakhs

Quarterly

Third quarter

Single segment

Financial & Investing Activities

2026-02-09

12:00:00

2026-02-09

13:50:00

Not applicable

true

false

Not applicable

2025-10-01

2025-12-31

Unaudited

Standalone

3150100000

250700000

62500000

3463300000

1300000

3464600000

839400000

1371300000

76000000

769200000

326200000

3382100000

82500000

-28700000

53800000

1615300000

0.58

0.0123

1. The financial results of IndoStar Capital Finance Limited ("ICFL" or "the Company") have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act 2013 ("the Act") read with the Companies (Indian Accounting Standard) Rules, 2015, amended from time to time, the Reserve Bank of India (“RBI”) guideline and other accounting principal generally accepted in India in compliance with Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended and have been reviewed by the Audit Committee and subsequently approved at the meeting of the Board of Directors held on 9 February 2026. The statutory auditors have conducted limited review and issued an unmodified conclusion on the standalone financial results for the quarter and nine months ended 31 December 2025. 2. The Secured Listed Non-Convertible Debentures of the Company as on 31 December 2025 are secured by first pari-passu charge on standard receivables and / or cash / cash equivalent and / or such other asset as mentioned in the respective offer documents. The total asset cover required for secured listed non-convertible debentures has been maintained as per the terms and conditions stated in the respective offer documents. 3. Disclosure pursuant to RBI Notification - RBI/DOR/2021-22/86/DOR.STR.REC.51/21.04.048/2021-22 dated 24 September 2021, as amended, on "Transfer of Loan Exposures" are given below: a. Details of stressed loans transferred during nine months ended ended 31 December 2025 To Asset Reconstruction Companies (ARC) NPA : 'Number of accounts - 2727 'Aggregate principal outstanding of loans transferred* - 18003 'Weighted average residual tenor of the loans transferred (in months) - 28 'Net book value of loans transferred (at the time of transfer) – 11,058 Aggregate consideration – 17,307 Additional consideration realized in respect of accounts transferred in earlier years - Nil Recovery Rating – In Progress SMA : 'Number of accounts – 2,631 'Aggregate principal outstanding of loans transferred* - 16,363 'Weighted average residual tenor of the loans transferred (in months) - 31 'Net book value of loans transferred (at the time of transfer) – 15,986 Aggregate consideration - 15,578 Additional consideration realized in respect of accounts transferred in earlier years – Nil Recovery Rating - In progress *excluding technical write offs b. Details of stressed loans acquired during the period half year ended 31 December 2025: NPA : 'Aggregate principal outstanding of loans acquired - Nil 'Aggregate consideration paid - Nil 'Weighted average residual tenor of the loans acquired (in months) - Nil SMA : 'Aggregate principal outstanding of loans acquired - 814 'Aggregate consideration paid - 814 'Weighted average residual tenor of the loans acquired (in months) – 12 4. The Board of Directors of the Company in its meeting held on 19 September 2024 had considered and approved, inter-alia, subject to shareholders, regulatory and other approvals, sale of the Company’s shareholding in Niwas Housing Finance Private Limited (“NHFPL”) (Formerly IndoStar Home Finance Private Limited), a debt-listed material subsidiary of the Company, to WITKOPEEND B.V. (the “Purchaser”) for an aggregate consideration of Rs. 1,70,595 lakhs in accordance with the terms of the share purchase agreement dated 19 September 2024 (SPA) among the Company, NHFPL and the Purchaser. Subsequently, the Shareholders' approval was obtained on 26 October 2024. The Reserve Bank of India (RBI) accorded its approval on 21 March 2025. During the quarter ended 30 June 2025, National Housing Bank (“NHB”) as a Lender to NHFPL has given No Objection for the change in shareholding dated 30 May 2025 and the Company has received other requisite approvals. Further the Company and NHFPL has issued Condition Precedent (“CP”) Fulfilment Notice dated 24 June 2025 and the Purchaser has issued CP Fulfilment Notice dated 26 June 2025. The Company, the Purchaser and NHFPL has complied with Condition Precedent to sale in terms of the SPA. Accordingly, the transaction becomes obligatory on all the parties on 26 June 2025. Consequently, the Company recorded a gain of Rs. 1,17,595 lakhs, as "Exceptional Items", in the Standalone financial results on divestment of NHFPL after adjusting Cost of Investment and expenses incurred on the sale transaction for the quarter ended 30 June 2025. During the quarter ended 30 September 2025, the Company received the consideration and share transfer process was completed on 17 July 2025. 5. Information as required by Regulations 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, is attached as Annexure 1. 6. On 21 November 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the incremental impact of these changes on the basis of information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Accordingly, Employee Benefit Expenses for the quarter and nine months ended 31 December 2025 includes incremental impact of Rs. 480 lakh primarily due to change in wage definition. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments. 7. During the quarter under review, the Company allotted 1,08,69,565 Equity shares of Rs. 10 each to Florintree Tecserv LLP, non-promoter entity and 1,39,49,323 Equity shares of Rs. 10 each to BCP V Multiple Holdings Pte Ltd, promoter of the Company, at a issue price of Rs. 184 per share, pursuant to the conversion of warrants in the ratio of 1:1. The Company received Rs. 15,000 lakhs from Florintree Tecserv LLP and Rs. 5133.35 lakhs from BCP V Multiple Holdings Pte Ltd, respectively being balance consideration on conversion of warrants. 8. The Company during the quarter and nine months ended 31 December 2025 has allotted 4,987 and 615,789 equity shares of Rs. 10 each fully paid respectively, on exercise of stock options by employees, in accordance with the Company's Employee Stock Option Schemes. 9. The Company is engaged primarily in the business of financing in India and accordingly, there are no separate operating segments as per Ind AS 108 dealing with Operating Segments. 10. The figures for the quarter ended 31 December 2025 are the balancing figures between unaudited figures for the nine months ended 31 December 2025 and unaudited figures for the half year ended 30 September 2025. The figures for the quarter ended 31 December 2024 are the balancing figures between unaudited figures for the nine months ended 31 December 2024 and unaudited figures for the half year ended 30 September 2024. 11. All amounts disclosed in financial results have been rounded off to the nearest lakhs. 12. Figures for the previous periods / year have been regrouped, and / or reclassified wherever considered necessary to make them comparable to the current periods / year presentation.

2025-04-01

2025-12-31

Unaudited

Standalone

9467100000

735300000

260300000

10462700000

5800000

10468500000

2513000000

4892700000

225900000

6259500000

1105300000

14996400000

-4527900000

11759500000

7231600000

1690000000

5541600000

-17900000

5523700000

1615300000

39.97

39.86

39.97

39.86

0.0123

Other Expenses

326200000

Other Expenses

1105300000

Remeasurements of the defined benefit plans

-4400000

Remeasurements of the defined benefit plans

-10200000

Debt instruments through other comprehensive income

-24300000

Debt instruments through other comprehensive income

-7700000

-28700000

-17900000

Preferential Issues

2025-11-25

149999997000000

2025-12-31

true

CRISIL Ratings Limited

false

SHIKHA JAIN

Company Secretary and Compliance Officer

MUMBAI

2026-02-09

Preferential Issues

2025-12-20

51333508600000

2025-12-31

true

CRISIL Ratings Limited

false

Growth Objectives of the Company: The Company shall utilize at least 75% of the Issue Proceeds to meet the funding requirements and growth objectives of the Company, including to augment the Company’s capital base, for onward lending by way of disbursement of loans to borrowers in the ordinary course of the Company’s businesses (including under the Company’s and subsidiaries’ commercial vehicle financing, housing finance, SME financing and retail lending businesses), in such manner and proportion as may be decided by the Board from time to time, in compliance with applicable laws (referred to below as “ICF Growth Objectives”).

None

149999997000000

199999996000000

As per the original disclosures, atleast 75% of total consideration were allocated for Growth Objectives of the Company. The Company utilized 100% of total consideration for Growth Objectives of the Company which is in line with the disclosure made i.e., atleast 75% (Rs. 1,499,999,970 was raised and utilized during the quarter ended December 31, 2025)

General Corporate Purposes: Up to 25% (twenty five percent) of the Issue Proceeds will be utilised for general corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company, as applicable, in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws (referred to below as “General Corporate Purposes”).

None

49999999000000

None

192500657400000

256667543200000

As per the original disclosures, atleast 75% of total consideration were allocated for Growth Objectives of the Company. The Company utilized 100% of total consideration for Growth Objectives of the Company which is in line with the disclosure made i.e., atleast 75% (Rs. 513,335,086 was raised and utilized during the quarter ended December 31, 2025)

None

64166885800000