IndoStar Capital Finance Results: Revenue bhagi **15.9%**, par PAT **27.7%** gira! Kya chal raha hai?

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AuthorIshaan Verma|Published at:
IndoStar Capital Finance Results: Revenue bhagi **15.9%**, par PAT **27.7%** gira! Kya chal raha hai?
Overview

IndoStar Capital Finance ne apna Q3 FY26 ka result nikala hai, aur bhai, scene thoda mixed hai. Revenue toh **15.9%** upar bhaga hai YoY, lekin Profit After Tax (PAT) **27.7%** neeche gir gaya hai, sirf **₹8.3 crore** pe aa gaya.

Toh, asal mein hua kya hai, chalo deep dive karte hain.

Company ne revenues mein toh kamaal kar diya hai! Unka net revenue ₹209.3 crore tak pahunch gaya hai, jo pichhle saal ke muqable 15.9% zyada hai. Quarter-on-quarter bhi 10.1% ka jump hai. Aur toh aur, Pre-Provision Operating Profit (PPOP) toh 43.5% tezi se badh kar ₹85.2 crore ho gaya hai! Yeh sab dekh ke lagta hai ki company ki operational performance ekdum zabardast hai.

Lekin phir, PAT mein 27.7% ka YoY drop aa gaya, bas ₹8.3 crore reh gaya. Iske peeche ka main reason hai ek ₹4.8 crore ka 'one-time' expense jo employee benefits ke liye hua hai, as per the Wage Code regulations. Is ek hi kharch ne profit ko kaafi neeche kheench diya.

Company ab apna focus purely Vehicle Finance (VF) aur Micro Loans Against Property (M-LAP) segments par kar rahi hai, kyuki unhone housing finance wala business toh already bech diya hai. Strategy 'LEAP' bhi chal rahi hai cost cutting ke liye. Leverage bhi ab 1.2x ho gaya hai aur Capital Adequacy Ratio (CAR) toh ekdum solid 41.4% pe hai.

Shareholding mein bhi change aaya hai, BCP V Multiple Holdings ab 55.98% stake ke saath majority holder ban gayi hai. Asset quality bhi control mein lag rahi hai, Gross Stage 3 at 4.06% aur Net Stage 3 at 1.75%.

Abhi jo investors notice karenge woh yeh ki operating performance itni strong hone ke baad bhi PAT mein giravat hai, aur company ne koi specific forward guidance bhi nahi di hai. Toh yeh dekhna hoga ki future mein woh operating gains ko bottom-line growth mein kaise convert karte hain, bina aise one-off impacts ke.

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