Indostar Capital Limited reports Rs. 421.35 crore consolidated loss in Q4 FY2020

Indostar Capital Finance Ltd has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported net sales of Rs.320.59 crores during the period ended March 31, 2020 as compared to Rs.365.78 crores during the period ended December 31, 2019.

The company has posted net loss of Rs.(421.35) crores for the period ended March 31, 2020 as against net profit of Rs.0.24 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.(45.35) for the period ended March 31, 2020 as compared to Rs.0.09 for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 320.59 crs	₹ 365.78 crs	-12.35%
Net Profit	₹ (421.35) crs	₹ 0.24 crs	-175662.5%
EPS	₹ (45.35)	₹ 0.09	-50488.89%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported net sales of Rs.320.59 crores during the period ended March 31, 2020 as compared to Rs.341.06 crores during the period ended March 31, 2019.

The company has posted net loss of Rs.(421.35) crores for the period ended March 31, 2020 as against net profit of Rs.74.08 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.(45.35) for the period ended March 31, 2020 as compared to Rs.7.78 for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 320.59 crs	₹ 341.06 crs	-6%
Net Profit	₹ (421.35) crs	₹ 74.08 crs	-668.78%
EPS	₹ (45.35)	₹ 7.78	-682.9%

Financial Results (Year ended FY 2019-20) - YoY Comparison

The company has reported net sales of Rs.1529.35 crores during the 12 months period ended March 31, 2020 as compared to Rs.1205.63 crores during the 12 months period ended March 31, 2019.

The company has posted net loss of Rs.(324.62) crores for the 12 months period ended March 31, 2020 as against net profit of Rs.240.79 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.(34.95) for the 12 months period ended March 31, 2020 as compared to Rs.26.07 for the 12 months period ended March 31, 2019.

Financials	FY2019-20	FY2018-19	% Change
Total Income	₹ 1529.35 crs	₹ 1205.63 crs	26.85%
Net Profit	₹ (324.62) crs	₹ 240.79 crs	-234.81%
EPS	₹ (34.95)	₹26.07	-234.06%

IndoStar has one of the highest Capital Adequacy ratio amongst all listed NBFCs. Strong liquidity position and low debt:equity of 1.7x positions IndoStar well to further accelerate its retailisation strategy in a challenging market environment and equips it with the ability to use capital for both organic and inorganic growth.

The company currently has liquid assets of around 27% of its borrowings, sufficient to cover its repayment obligations till March 2021. The company has raised INR 452 crores since March 22,2020. With AA- credit rating and a strong pipeline of raising further liabilities, IndoStar is well positioned to embark on its next phase of growth.

Speaking on the results, R Sridhar, Executive Vice-Chairman & CEO, Indostar, said "While Covid-19 has brought upon challenging times upon every company and sector, IndoStar, with transformational investment by Brookfield and focused retailisation strategy, is well placed to grow and capture market share in CV, SME and Affordable Housing Finance businesses. With Capital Adequacy of ~41% and one of the best liquidity positions amongst NBFCs, we have sufficient resources to meet all liabilities till March FY'21 without any fresh borrowings. We are excited to partner with Brookfield and Everstone Group in a period that will be challenging but will also provide tremendous opportunities to NBFCs with strong franchise and management, such as ours.

Shares of Indostar Capital Finance Ltd was last trading in BSE at Rs.285.2 as compared to the previous close of Rs. 285.2. The total number of shares traded during the day was 781 in over 70 trades.

The stock hit an intraday high of Rs. 286 and intraday low of 285.1. The net turnover during the day was Rs. 222813.

Source : Equity Bulls

Keywords