INDOSTAR2026-01-012026-03-31INDOSTAR2026-03-31INDOSTAR2025-03-31INDOSTAR2025-04-012026-03-31INDOSTAR2026-01-012026-03-31in-capmkt:OtherExpenses1MemberINDOSTAR2025-04-012026-03-31in-capmkt:OtherExpenses1MemberINDOSTAR2026-03-31OtherFinancialAssetsDomain1INDOSTAR2026-03-31OtherFinancialAssetsDomain2INDOSTAR2026-03-31OtherFinancialAssetsDomain3INDOSTAR2026-03-31OtherFinancialAssetsDomain4INDOSTAR2026-03-31OtherFinancialAssetsDomain5INDOSTAR2026-03-31OtherNonFinancialAssetsDomain1INDOSTAR2026-03-31OtherNonFinancialAssetsDomain2INDOSTAR2026-03-31OtherNonFinancialAssetsDomain3INDOSTAR2026-03-31OtherFinancialLiabilitiesDomain1INDOSTAR2026-03-31OtherFinancialLiabilitiesDomain2INDOSTAR2026-03-31OtherFinancialLiabilitiesDomain3INDOSTAR2026-03-31OtherFinancialLiabilitiesDomain4INDOSTAR2026-03-31OtherNonFinancialLiabilitiesDomain1INDOSTAR2026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1INDOSTAR2025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1INDOSTAR2026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss1INDOSTAR2025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss1INDOSTAR2026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares541336INDOSTARNOTLISTEDINE896L01010INDOSTAR CAPITAL FINANCE LIMITEDMain BoardEquity2025-04-012026-03-312026-05-272026-05-18INRLakhsQuarterlyFourth quarterSingle segmentFinancial & Investing Activities2026-05-2713:00:002026-05-2715:00:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated3158500000002641000004410000000034667000001100000346780000000083450000013189000006280000000051727000003181000007707000000-42392000000-42392000001000000100000-42393000000000-4239300000-9400000-4248700000-42393000000-42487000000161540000010-26.24-26.2400-26.24-26.243. The Group reports quarterly financial results on consolidated basis, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 read with SEBI circular dated 5 July 2016. The standalone financial results are available on the website of the Company at www.indostarcapital.com and on the website of the BSE Ltd. at www.bseindia.com and the National Stock Exchange of India Ltd. at www.nseindia.com. <BR> The key information of the standalone financial results of the Company are given below:(Rs. In lakhs) <BR> - Quarter Ended 31 March 2026 (Audited) <BR> Revenue from operations (including other income) – 34,674 <BR> Profit/(loss) before tax – (42,396) <BR> Profit/(loss) after tax – (42,396) <BR> Total Comprehensive income – (42,490) <BR> <BR> - Quarter Ended 31 December 2025 (Unaudited) <BR> Revenue from operations (including other income) – 34,646 <BR> Profit/(loss) before tax – 825 <BR> Profit/(loss) after tax – 825 <BR> Total Comprehensive income – 538 <BR> <BR> - Quarter Ended 31 March 2025 (Audited) <BR> Revenue from operations (including other income) – 37,459 <BR> Profit/(loss) before tax – 1,242 <BR> Profit/(loss) after tax – 1,242 <BR> Total Comprehensive income – 1,291 <BR> <BR> - Year Ended 31 March 2026 (Audited) <BR> Revenue from operations (including other income) – 1,39,359 <BR> Profit/(loss) before tax – 29,920 <BR> Profit/(loss) after tax – 13,020 <BR> Total Comprehensive income – 12,747 <BR> <BR> - Year Ended 31 March 2025 (Audited) <BR> Revenue from operations (including other income) – 1,41,241 <BR> Profit/(loss) before tax – 5,259 <BR> Profit/(loss) after tax – 5,259 <BR> Total Comprehensive income – 5,190 <BR> <BR> 4. The consolidated financial results of IndoStar Capital Finance Limited ("the Company") and its subsidiaries (together referred to as "the Group") 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 12 May 2026. The statutory auditors have conducted audit and issued an unmodified opinion on the consolidated financial results for the year ended 31 March 2026. <BR> The consolidated financial results includes financial statement / unaudited financial information of the following wholly owned subsidiaries: <BR> (a) Niwas Housing Finance Limited (formerly Niwas Housing Finance Private Limited) (upto 30 June 2025, also refer note 7 below); and <BR> (b) IndoStar Asset Advisory Private Limited <BR> <BR> 5. The Secured Listed Non-Convertible Debentures of the Company as on 31 March 2026 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. <BR> 6. In line with its Company’s Expected Credit Loss (ECL) framework and RBI regulations, additional provision of Rs. 326.13 crore was made against security receipts during the quarter. The Gross Carrying value of Security Receipts as at 31 March 2026 stands at Rs. 1,607.78 crore (Rs.1,387.15 crore as at 31 March 2025) and net carrying value stands at Rs. 588.63 crore (Rs. 1,022.60 crore as at 31 March 2025). The provision coverage ratio on Security Receipts increased to 63% as at March 31, 2026, from 26% as at March 31, 2025. <BR> The regional crisis in West Asia has introduced macroeconomic uncertainties, particularly through volatility in energy prices and potential supply chain disruptions. At this stage, it is too early to reliably assess the full impact of these developments, as relevant data points are not yet sufficiently available, and such external shocks are not directly captured within the ECL model variables. Management has therefore applied a broad-level qualitative consideration of potentially exposed portfolios. Accordingly, the Company has recognised an additional management overlay of Rs. 4,900 lakhs during the quarter. The Company will continue to monitor developments and review the adequacy of this overlay at the end of each reporting period. <BR> <BR> Further, in line with the ECL framework, the Company undertook its annual calibration and validation of the ECL model for its loan portfolio. Based on the revised assumptions and forward-looking information, the Company has recognized an incremental impairment provision during the current quarter. <BR> <BR> The total provision including management overlay as at 31 March 2026 amounts to Rs. 415.63 crore (Rs. 247.45 crore as at 31 March 2025) on loan assets of Rs. 7,850.10 crore as at 31 March 2026 (Rs. 7,463.97 crore as at 31 March 2025). Consequently, the provision coverage on loan assets improved to 5.29% as at March 31, 2026 from 3.32% as at March 31, 2025. <BR> <BR> The Gross Non-Performing Assets (GNPA) stood at Rs. 374.69 crore as at March 31, 2026, ( Rs. 337.13 crore as at March 31, 2025), with the GNPA ratio at 4.77% (4.52% as at March 31, 2025). Net Non-Performing Assets (NNPA) stood at Rs. 159.61 crore as at March 31, 2026, (Rs. 179.86 crore as at March 31, 2025), with the NNPA ratio at 2.09% (2.46% as at March 31, 2025). <BR> <BR> The Provision Coverage Ratio (PCR) on NPAs increased to 57.40% as at March 31, 2026 from 46.65% as at March 31, 2025. <BR> 7. 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 Limited (“NHFL”) (Formerly Niwas Housing 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, NHFL 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. <BR> During the quarter ended 30 June 2025, National Housing Bank (“NHB”) as a Lender to NHFL 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 NHFL 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 NHFL 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 NHFL after adjusting Cost of Investment and expenses incurred on the sale transaction for the quarter ended 30 June 2025. <BR> <BR> During the quarter ended 30 September 2025, the Company received the consideration and share transfer process was completed on 17 July 2025. <BR> <BR> Summary results of the discontinued operations (excluding markup) are given below (Rs. In lakhs) <BR> <BR> - Quarter Ended 31 March 2026 <BR> Revenue from operations – NIL <BR> Other Income – NIL <BR> Total Income – NIL <BR> Total expenses – NIL <BR> Profit before tax – NIL <BR> Tax Expenses - NIL <BR> Profit after tax – NIL <BR> Other comprehensive income – NIL <BR> Total Comprehensive income – NIL <BR> <BR> - Quarter Ended 31 December 2025 <BR> Revenue from operations – NIL <BR> Other Income – NIL <BR> Total Income – NIL <BR> Total expenses – NIL <BR> Profit before tax – NIL <BR> Tax Expenses - NIL <BR> Profit after tax – NIL <BR> Other comprehensive income – NIL <BR> Total Comprehensive income – NIL <BR> <BR> <BR> - Quarter Ended 31 March 2025 <BR> Revenue from operations – 12,085 <BR> Other Income – 91 <BR> Total income – 12,176 <BR> Total expenses – 9,006 <BR> Profit before tax – 3,170 <BR> Tax Expenses - 801 <BR> Profit after tax – 2,369 <BR> Other comprehensive income – NIL <BR> Total Comprehensive income – 2,369 <BR> <BR> - Year Ended 31 March 2026 <BR> Revenue from operations – 11,385 <BR> Other Income – 8 <BR> Total Income – 11,393 <BR> Total expenses – 10,034 <BR> Profit before tax – 1,359 <BR> Tax Expenses – 350 <BR> Profit after tax – 1,009 <BR> Other comprehensive income – (14) <BR> Total Comprehensive income – 995 <BR> <BR> - Year Ended 31 March 2025 <BR> Revenue from operations – 40,764 <BR> Other Income – 144 <BR> Total Income – 40,908 <BR> Total expenses – 31,823 <BR> Profit before tax – 9,085 <BR> Tax Expenses – 2,282 <BR> Profit after tax – 6,803 <BR> Other comprehensive income – (11) <BR> Total Comprehensive income – 6,792 <BR> <BR> 8. 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 year ended 31 March 2026 includes incremental impact of Rs. 598 lakhs 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. <BR> <BR> 9. During the quarter ended 31 December 2025, 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. 5,133.35 lakhs from BCP V Multiple Holdings Pte Ltd, respectively being balance consideration on conversion of warrants. <BR> 10. The Company during the quarter and year ended 31 March 2026 has allotted 5,142 and 620,931 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. <BR> 11. The Group 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. <BR> 12. The figures for the quarter ended 31 March 2026 are the balancing figures between audited figures for the year ended 31 March 2026 and unaudited figures for the nine months ended 31 December 2025. The figures for the quarter ended 31 March 2025 are the balancing figures between audited figures for the year ended 31 March 2025 and unaudited figures for the nine months ended 31 December 2024. <BR> 13. All amounts disclosed in financial results have been rounded off to the nearest lakhs. <BR> 14. 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. <BR> 2025-04-012026-03-31AuditedConsolidated1262740000000999400000304400000000139312000006900000139381000000003347500000621160000028870000000011432200000142350000022703500000-876540000011759500000299410000016905000000169050000013036000001359000003500000010090000001404500000-2870000013758000001404500000013758000000161540000010362108000009.039.020.70.79.739.72Other Expenses318100000Other Expenses1423500000361600000274220000011950000000743447000009819300000586200000879735000000125600000317670000000497400000003001900000487000003413000007191600000951651000001615400000362108000003782620000003782620000000500000200000003074150000024026100000002205700000569740000001059000001828000000762000003649000005733890000095165100000Security deposit86500000Assignment receivables235100000Impairment allowance-60356000Deposits with Trustee for securitisation*259113000Other Receivables65843000Assets acquired in satisfaction of claim70000000Prepaid expenses115100000Advances recoverable in cash or in kind or for value to be received156200000Book overdraft49335000Employee benefits payable255567000Unamortised lease liabilities343235000Others1557563000Statutory dues payable76200000Remeasurements of the defined benefit plans49000004900000Remeasurements of the defined benefit plans-7100000-7100000-1300000-1800000Debt instruments through other comprehensive income-23500000-23500000Debt instruments through other comprehensive income-31300000-31300000-7900000-7900000-9400000-287000006211600000000020900000-919960000000-1000000017000002887000000011532800000-257970000000012627400000115800000-120639000000-800000000-18300000000-15305900000053855000001239840000015964000000-988940000017059500000000000074000008690000000056100000000000000000000056636000002258750000000212410000000001150000000017170500000439785000001131000000000-13297000000-5989000000-598900000960500000361600000AuditedtrueMSKA & Associates LLPtrue2027-07-31