Five-Star Business Finance Limited (FIVESTAR)

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Five-Star Business Finance Limited (FIVESTAR) · mywealthgrid

About

Five-Star Business Finance is mid-large cap NBFC (₹16,241.9 Cr market cap) showing revenue growth to ₹829 Cr (Jun 2026) from ₹702 Cr (Sep 2024). Operating margins at 68.65% and ROE of 16.06% demonstrate efficiency; margins compressed 10.4 percentage points over period, limiting earnings growth vs. revenue expansion. Positioned in India NBFC sector, focuses on lending to underserved segments.

Face value: ₹1

Market cap

₹14,945 Cr

P/E

13.5×

P/B

2.0×

Dividend yield

0.8%

ROE

16.1%

ROCE

—

Debt / equity

1.11

OPM

68.7%

EPS (TTM)

₹37.4

Book value

₹250.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin declined from 74.67% (Sep 2024) to 64.29% (Jun 2026) despite revenue growth — verify cost of funds, credit costs, operational inefficiency as compression drivers.
Net profit stalled (₹266–286 Cr range) while revenue expanded 18% over 2 years; EPS flat (~₹9.1–9.7) — verify if cost structure expanding faster than revenue.
Stock down 5.86% over 12 months despite revenue growth; FII holding fell from 48.47% (Mar 2026) to 43.97% (Jun 2026) — verify if exit reflects asset quality concerns, cost pressures, or valuation reset.
NBFC credit quality and funding costs cyclical, policy-sensitive — verify NPA trends and fund-raising rates vs. cost of equity.

Generated analysis · source review pending

Growth drivers

Revenue growth from ₹702 Cr (Sep 2024) to ₹829 Cr (Jun 2026) reflects market access; verify if driven by volume, pricing, market share gains, and whether sustainable.
ROE of 16.06% indicates capital deployment efficiency; verify if asset base expanding and ratio maintainable, which would drive earnings growth.
Operating margin at 64.29% (down from 74.67%) — if stabilised, net profit growth could re-couple with revenue expansion.

Generated analysis · source review pending

951 historical price candles were omitted because the exchange source has not been verified.

₹506.3+1.8%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 68.7%
+Profit CAGR of 22.1% over the last 3 years
+Revenue CAGR of 28.2% over the last 3 years

Cons

−Low dividend payout of 10.7% of profit
−Low promoter holding of 18.6%
−Promoter holding fell 2.9 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

64/100

Business quality: 51
Growth: 57
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,254	1,529	2,183	2,848	3,218
Interest	301	266	469	668	737
Expenses	339	441	586	737	1,009
Financing profit	614	822	1,128	1,443	1,472
Financing margin %	49%	53.8%	51.7%	50.7%	45.7%
Other income	2	0	12	18	28
Depreciation	12	17	25	30	37
Profit before tax	604	805	1,116	1,431	1,463
Tax	151	201	280	358	364
Tax %	24.9%	25%	25.1%	25%	24.9%
PAT	454	604	836	1,072	1,099
EPS (₹)	—	20.7	28.6	36.6	37.3
EPS adjusted (₹)	—	20.7	28.6	36.4	37.2
	—	0%	0%	5.5%	5.4%
Annual report	—	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	29	29	29	30
Reserves	4,310	5,167	6,275	7,351
Minority interest	—	—	0	—
	4,247	6,316	7,922	8,200
	116	177	194	209
Total equity & liabilities	8,703	11,689	14,421	15,790
	16	30	31	32
CWIP	0	—	62	72
Investments	145	108	212	227
	8,542	11,551	14,115	15,458
Total assets	8,703	11,689	14,421	15,790

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1,123	-2,122	-1,045	-264
	162	210	-585	228
	1,688	2,106	1,593	157
Net cash flow	727	194	-37	121
Free cash flow	-1,135	-2,145	-1,128	-290
CFO / Operating profit %	-103.2%	-132.9%	-49.5%	-12%

Compounded sales growth

7 years: —
5 years: —
3 years: 28%
1 year: 13%

Compounded profit growth

7 years: —
5 years: —
3 years: 22%
1 year: 2%

Return on equity

7 years: —
5 years: —
3 years: 16%
Last year: 15%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—
EBITDA margin %	73%	71.2%	73.2%	74.1%	68.7%
EBIT margin %	72%	70%	72%	73.1%	67.5%
PAT margin %	36.2%	39.5%	38.3%	37.7%	34.1%
Working capital
Receivable days	—	—	—	—	—
Inventory days	—	0	0	0	0
Payable days	—	—	—	—	—
NWC days	—	—	—	—	—
Leverage
Current ratio	—	—	—	—	—
Debt to EBITDA	—	3.9	3.96	3.75	3.71
Debt to equity	—	0.98	1.22	1.26	1.11
Interest coverage	3	4	3.4	3.1	3
Asset turnover	—	0.18	0.19	0.2	0.2
Return ratios
Return on assets %	—	6.9%	7.2%	7.4%	7%
Return on capital employed %	—	—	—	—	—
Return on equity %	—	13.9%	16.1%	17%	14.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.3%	26.53%	26.51%	26.51%	21.59%	21.55%	21.47%	21.47%	18.57%	18.56%	18.61%	18.61%
	50.22%	54.28%	56.07%	57.45%	56.7%	57.75%	58.75%	58.12%	55.81%	52.94%	48.47%	43.97%
	7.52%	7.81%	6.98%	6.07%	8.99%	10.11%	9.09%	9.48%	12.17%	14.73%	17.58%	22.35%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	10.96%	11.38%	10.44%	9.97%	12.72%	10.59%	10.69%	10.93%	13.45%	13.77%	15.34%	15.07%
No. of shareholders	—	—	—	—	—	—	—	—	94,108	91,561	97,128	1,02,270

Promoter holding down 12.69 percentage points since Sep 2023.

151 deals · 1 Sept 2023 – 30 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	18,30,383	₹644.08	₹117.89 Cr
30 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	18,30,333	₹643.33	₹117.75 Cr
29 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	15,74,452	₹584.39	₹92.01 Cr
29 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	15,74,452	₹583.88	₹91.93 Cr
2 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	4,11,359	₹549.20	₹22.59 Cr
2 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	4,11,359	₹549.20	₹22.59 Cr
29 Aug 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	5,19,142	₹552.75	₹28.70 Cr
29 Aug 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	5,19,142	₹552.75	₹28.70 Cr
26 Sept 2024	TPG ASIA VII SF PTE LTD	Bulk	BSE	Sell	2,00,58,282	₹800.50	₹1,605.67 Cr
26 Sept 2024	TPG ASIA VII SF PTE LTD	Block	BSE	Sell	2,00,58,282	₹800.50	₹1,605.67 Cr

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Mr. Lakshmipathy DeenadayalanExecutive Director-Chairperson related to Promoter-MD
Mr. Srinivasaraghavan Thiruvallur ThattaiNon-Executive - Independent Director
Mr. Ramkumar RamamoorthyNon-Executive - Independent Director
Mr. Thirulokchand VasanNon-Executive - Non Independent Director
Mr. Srikanth GopalakrishnanExecutive Director
Ms. Rajeshwari ShankarNon-Executive - Independent Director
Mr. Sreeram Ranganathan IyerNon - Executive Independent Director
Mr. Vigneshkumar S MCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 13 fund houses

Held by these funds

5.59%

of the company's equity

All mutual funds

17.82%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

41 schemes · 13 fund houses

		Shares
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	77.8 L	416.28	2.12%	2.636%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	32.84 L	175.69	2.16%	1.112%	+2.3 L
Franklin India Small Cap Fund (Formerly known as Franklin India Smaller Companies Fund) ^NEW	Franklin Templeton Mutual Fund	14.15 L	75.69	0.51%	0.479%	—
BANKING & FINANCIAL SERVICES FUND	Tata Mutual Fund	10.95 L	58.59	1.77%	0.371%	-0
BUSINESS CYCLE FUND	Tata Mutual Fund	5.07 L	27.15	1.04%	0.172%	-38,076
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	3.09 L	16.52	0.47%	0.105%	+3,775
Small Cap Fund	Baroda BNP Paribas Mutual Fund	2.91 L	15.57	1.19%	0.099%	-0
Small Cap Fund	Bajaj Finserv Mutual Fund	2.85 L	15.25	0.58%	0.097%	-0

1–8 of 41

1 / 6

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPT REC
Apr 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

2

Final dividend31 Jul 2026 · ex-date₹2
Final dividend14 Aug 2025 · ex-date₹2

1

Board meeting to consider results25 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

41 announcementsExport CSV

29 Sept 2026, 11:04 amCompany Update