#1INDOSTAR ICFL/LS/0084/2023-24 02 August 2023 BSE Limited Listing Department, 1st Floor, PJ Towers, Dalal Street, Fort, Mumbai - 400 001. Scrip Code: 541336 Sub.: Ref.: National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra, (E), Mumbai 400 051. Symbol: INDOSTAR Investor Presentation on Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30 June 2023 Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") Dear Sir/Madam, Pursuant to Regulation 30 of Listing Regulations, please find enclosed Investor Presentation on Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30 June 2023. Request you to kindly take the above on record and disseminate the same on your website. Thanking you, Yours faithfully, For IndoStar Capital Finance Limited SHIKH Digitally signed by SHIKHA JAIN Date: 2023.08.02 A JAIN 23:56:26 +05'30' Shikha Jain Company Secretary & Compliance Officer (Membership No. A59686) Encl.: a/a IndoStar Capital Finance Limited Registered Office: Unit No. 505, 5th Floor, Wing 2/E, Corporate Avenue, Andheri - Ghatkopar Link Road, Chakala, Andheri (East), Mumbai - 400093, India. | T +91 22 4315 7000 | F +91 022 4315 7010 | [email protected] | www.indostarcapital.com CIN: L65100MH2009PLC268160#2INDOSTAR "Your Path To A Better Life" INDOSTAR CAPITAL FINANCE Investor Presentation June 2023#3Safe Harbor INDOSTAR This presentation and the accompanying slides (the "Presentation"), which have been prepared by IndoStar Capital Finance Limited (the "Company'), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the Company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. 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All data, information and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness. 2#4Key Performance Highlights - Q1FY24 AUM Disbursements INDOSTAR Gross Stage 3 Net Stage 3 CRAR Branches 閱 0000 ↑% * 8,062 crs * 1,116 crs 6.6% 3.1% Q1FY23: 8,247 crs Q1FY23344 crs Q1FY23: 8.2% Q1FY23: 3.6% 34.4% CRAR Q1FY23: 29.0% 452 Branches Q1FY23: 413 Net Total Income PAT $ NIMS 145.0 crs 38.9 crs 6.5% Q1FY23: 166.2 crs Q1FY23: 60.9 crs Q1FY23: 5.5% INDOSTAR LIFE KA TAKE-OFF LOGIN 4 INDO MITRA Making Vehicle Finance Easy We Heard You & We Brought Account Management To Your Fingertips Live on the Play Store To download the app scan this QR code 3#5IndoStar 2.0#6"go-to" NBFC in Retail Lending CV Finance Housing Finance INDOSTAR We provide financing for New/Used CV, Construction Equipment, Tractor & Used Car Our wholly-owned subsidiary IndoStar Home Finance engages in providing affordable home financing solutions to self-employed and salaried customers. 5#7Strategy for INDOSTAR 2.0 New Customer Acquisition Asset Quality Cost Optimization Strengthened Core Management Team to focus on each of the business segments • Focused on serving the used CV market with higher yields INDOSTAR • • • Moving branch network into the hinterland, serving customers in tier 3 and tier 4 towns Strengthened controls, reviewed policies and upgraded technology systems right from loan origination, credit appraisal, disbursal, loan management and collection processes and continuing to do that. Sustained efforts to reduce stressed book through collection, repossession and settlement Strengthened collection mechanism by adding people. It is enabling robust collections, leading to 120%+ collection efficiency, indicating clearances of old delinquencies Identified stressed pool in our CV portfolio and conservatively made provisions Strengthening the hub and spoke model by opening more branches in tier 3 & 4 towns Focused on opening smart branches that operate with greater efficiency, less manpower and more through the Customer App Investments in technology and digitization, to improve operating turnaround times and productivity and drive operating cost efficiencies 6#8Exploring Opportunities in the Used CV Industry INDOSTAR Large CV Market: INR 5.6 Lakh Crores* Used CV financing under-penetrated, ~60% 336,521 270,553 279,903 331,486 391,544 450,416 516,089 with informal credit 13.3% 11.2% 15.2% 14.9% 14.3% 13.8% 19.4% 8% Market typically run Core focus of IndoStar CV business 11.5% by private financiers and 14.2% 11.7% 2.5% 13.9% 14.5% 15.0% 31% money lenders who charge 13.6% 60% high interest rates 3.3% 2.7% 3.0% 3.1% 3.2% 3.6% Pipeline for future business 61% 47.1% 47.5% 47.5% 44.5% 44.7% 45.1% 44.0% 40% CV Market Value CV Market Value 18.8% 12.3% 14.5% 15.6% 14.9% 14.3% 13.7% 10+ Years 0.4 0-4 years 3.4 Informal Credit Formal Credit 7.2% 7.2% 9.0% 7.3% 8.7% 9.1% 9.2% 5-10 years 1.7 FY19 FY20 FY21 FY22 FY23E FY24E FY25E 31% of the market or 1.7 Lakh Crores is 5-10 years old MHCV LCV MLCV CAR & MUV Tractor CE ☐ ☐ Commercial vehicle market is growing every year with the annual market size pegged at Rs.5.60 lakh Cr which incl New, Used, WC and Term loan funding Similarly, Used vehicle financing expected double by FY25 considering the scrap policy of 15 years limit Around 50% to 60% financing is with unorganized sector which should also reduce in future due to scrap policy and organized sector will play major role in UV finance In the space of Organized Sector, IndoStar aims to have a decent market share Used Vehicle Business is going to play a major role in next 4 to 5 years Significant opportunity to scale up the CV disbursement in next 2 years Source: SIAM & Vahan Data; *As per company analysis 7#9Commercial Vehicle Industry Trends & Market Forecast Commercial Vehicle Unit Sales India (lakhs) -44.7% 10.3 Units Sold Projections 7.2 7.1 5.7 +20.7% 12.5 10.9 9.1 FY19 FY20 FY21 FY22 FY23 FY24 FY25 YoY% -30% -21% 26% 25% 11% 11% Covid Impact FY '22 grew 26% despite impact of lockdowns of Covid waves 2 & 3; Driven by the pent-up demand from Industry expects continue through this year the momentum from last year to the previous two years of decline. Source: SIAM INDOSTAR CV Industry Trend Drivers & Expectations New Commercial Vehicles (CV) sales fell 45% over two years from 10.3L in FY'19 to 5.7L in FY'21, driven by a slowdown in economic growth in FY'20 and Subsequent lockdowns due to COVID first wave March to August 2020, in FY '21 Follow-on pent-up demand, growth in the economy with robust GST collections and the improvement in the Highway network has spurred the CV sales growth ~@28% in FY23 The growth momentum in the economy, the focus of the government on infrastructure projects, and high spending due to elections are likely to keep the CV sales trajectory on the upswing in the next 3 years with a CAGR of 28% MCVS & HCVs are highly dependent on GDP growth With the increase in the prices of the new CV vehicles, the Used CV demand is expected to continue to be positive in FY'24 and continue as such for the next 2-3 years 8#10Indian Affordable Housing Finance Market Expected To Show Significant Growth INDOSTAR Ticket Size (Rs) Players in Indian Mortgage Market Increasing Penetration in LIG & EWS Segments to Drive Growth 69% 41% Average LTS Affordable Housing Market Comprises of loans with ticket sizes less than Rs 15 Lacs AUM - Rs 5 TN 17.1 35% 10.2 > 15 Lacs 8.7 Rs 25 Tn 19% Household Income: 4.7 6-15 Lacs 5% 10% 11% 7% 3% 2.5 2.8 1.8 0.6 <5L 5L-10L 10L-15L 15L-20L >20L AUM (RS Tn) Market Share Indian Mortgage Market (FY22) MIG & HIG LIG Rs 6 Lacs EWS 1.3 2-5 Lacs Household Income: Rs 3 Lacs Public Sector HFCS Banks Private Sectors Banks Others AUM (RS Tn) Market Share Indian Mortgage Market Tier II and Below ~20 Mn Units Metros and Tier I Affordable Mortgage Market is expected to grow at over 10% in the next 5 years... ...with AHFCs gaining market share in overall HFC market over the past few years 7.2 5.0 4.0 Rs. 8 Tn Rs. 5 Tn FY20 FY27E Mar-18 Mar-20 Dec-21 Under Penetratio n in Tier II and Below Market Housing Shortage Financed Units 10 Mn 10 Mn Financed Units 1,100 Mn/ 220 Mn Significant room to grow 230 Mn/ 46 Mn Financed Units ~5% ~22% In 2022, housing shortage in India was 100 Mn units with LIG & EWS contributing 95% to the same Incremental housing loan demand from above shortage is Rs 50-6- Tn indicating huge potential for growth Significant Tailwinds In Favour Of Affordable Housing Helping Affordable Housing Finance Companies ('AHFC') Gain Market Share Source: CRIF High Mark Report, ICRA, Prospectus of Listed Peers 9#11Future Ready to Seize Affordable Housing Market Opportunity Management Team Geographical Focus Ecosystem Play INDOSTAR team > Seasoned management supported by regional teams with conservative background recruited from other affordable housing finance companies › Geographical focus on South & West India with the cluster-based approach to address concentration challenges › Targeting states with the highest demand-supply gap for affordable housing > Remote access to customers through HomeHub app > Fully enabled payment methods for customer leading to cash component using 3-4% of overall transactions Robust Underwriting Micro LAP Play > > Centralized underwriting framework with informal income underwriting play developed from start Aversion to categories such as 'plot construction' and other with higher delinquency probabilities > Presence in tier 3 and 4 towns in southern states with large Micro LAP opportunity 10 10#12Our Strategic Focus Areas Maintaining consistent customer communication Expanding geographically Maintaining asset quality Digitalization RISK Strengthening controls to minimize risk Investing in technology to become more Agile & Process Oriented Ensuring a robust balance sheet Being agile and future-ready INDOSTAR 11#13Strategic Performance Indicators#14Key Target Areas Key Target Areas Business Plan Status INDOSTAR . • • Opportunity to scale-up used CV disbursement due to both increased growth in used CV segment and our small base Leverage our existing reach by increasing penetration to field/site to enhance customer connect either directly or through DSAs and Dealers Growth of affordable housing book with a clear mandate to the team to focus on priority sector lending (PSL) within the LAP portfolio • Increase in Disbursement level from Q3 2023 Targeting & working for average monthly disbursements of 350 Cr. plus in FY 24 overall and much higher going forward Product Mix • Focus on used CV vehicles targeting high yield • Explore product line expansion to car, MUV, Tractor, CE, 2W & 3W • target first-time borrower and drivers transitioning to first-time owners • Actively pursue competition analysis to find niche and white-spaces Diversify methods of sourcing through truck addas & DSA networks, to Increase efficiencies through automation in sales and collections • Drive asset growth and continue to focus on reduction of costs • Reducing OPEX • • Right size the team. Focus on improving sales productivity metrics Improve/Focus on branch Productivity/ Profitability. • Targeting used CV with avg. ticket size of 6-8 Lakhs with 18% yield due to higher penetration in used CV market Affordable housing finance with avg. ticket size of 8 lakhs with ~15% yield, with increased focus on Tier 3 & 4 geographies Reduction in OPEX continues to be primary focus Decision Making & Empowering Branches Digitalization to enable quicker decision making at Branch levels with increased ownership and credibility on Branch Heads and employees to improve customer delivery efficiencies • Indo Mitra App and IndoStar Connect launched for improving efficiencies • Delegation of power at Branch level with ownership Open two-way communication channels IndoStar aims to benefit from the high growth in the used cargo LCVs by increasing penetration of rural markets with its branch network relocation 13#15Priority Sector Lending - Key Strategic Initiative INDOSTAR What are the priority sectors? Under RBI guidelines, loans given to following sectors qualify for Priority Sector Lending: • Agriculture Micro, Small & Medium Enterprises (MSME) Export Credit Housing loans of up to Rs. 35 lakh, for dwellings costing less than Rs. 45 lakh, are treated as priority sector lending (PSL) What is the RBI guideline for Banks around PSL? 1) Domestic commercial banks (excl. RRBs & SFBs) & foreign banks with 20 branches and above: 40% of Adjusted Net Bank Credit (ANBC) or ⚫ Credit Equivalent of Off-Balance Sheet Exposure (CEOBE) 2) Small Finance Banks (SFB) 75% of ANBC as computed in para 6 below or CEOBE whichever is higher What is the qualifier to get an IndoStar loan tagged as PSL? Across the IndoStar portfolio, here are the criteria that is used to tag loans as PSL • • * CV: Udyam (MSME) Registration SME: Udyam (MSME) Registration Housing: All loans for housing units <45 Lakhs What is the advantage to IndoStar? 1) Given the RBI directive to banks to meet 40% of ANBC and 75% for SFBs as PSL, there is a clear market for high quality PSL books 2) It is in IndoStar's interest to build the PSL book, as these books can trade at a premium for DA transactions towards the end of the financial year, improving the RoA for the company 1=1 ☑ CH 14#16Changing Portfolio Mix Driven by Retailisation Strategy Break-up of Asset Under Management INDOSTAR Retailisation Strategy Playing Out 12,054 10,150 8,998 9,658 7,813 8,062 5,000 42% 4,643 4,194 46% 47% 4,908 51% 3,672 47% 3,928 49% 85% 551 5% 832 1,899 8% 996 11% 16% 1,406 1,746 15% 1,623 21% 1,741 21% 17% 1,849 21% 1,776 4,604 18% 1,293 17% 1,177 15% 38% 2,930 1,932 29% 1,543 1,200 1,190 22% Mar-19 Mar-20 Mar-21 16% Mar-22 15% Mar-23 15% Jun-23 26% Q1FY24 FY2018 15% 74% ■ Corporate Lending ■Retail Lending CV Finance Home Finance SME Finance Corporate Lending *Total AUM includes Loans given to employees 15#17Retailisation Strategy Playing Out Disbursements: CL vs Retail (*crs) 6,448 3,505 1,827 4,947 2,098 1,116 Disbursements: Retail (*crs) 4,885 564 579 INDOSTAR 3,054 2,356 3,054 1,609 945 1,936 926 4,885 2,356 +187% 347 1,937 534 363 3,743 14 945 1,609 840 487 0 0 190 374 3,394 183 288 1,149 1,594 1,646 330 1,435 755 12 657 947 171 115 218 162 203 FY19 FY20 FY21 61 FY22 FY23 Q1FY24 FY19 FY20 FY21 FY22 FY23 Q1FY23 Q4FY23 Q1FY24 Retail Lending Corporate Lending: CL, Commercial Vehicle Finance: CV Finance, SME Finance: SME, Housing Finance: HF Corporate Lending SME Finance Housing Finance CV Finance 16#18National Footprint Creating Runway for Growth No States 1 HIMACHAL PRADESH - 2 2 PUNJAB - 9 3 UTTARAKHAND-9 4 HARYANA 11 5 NEW DELHI-2 6 UTTAR PRADESH-31 7 RAJASTHAN - 29 8 GUJARAT 28 9 10 MADHYA PRADESH - 30 CHATTISGARH - 6 11 BIHAR-11 12 JHARKHAND-11 13 WEST BENGAL - 20 14 ASSAM - 9 15 MEGHALAYA-1 16 ODISHA-5 17 TELANGANA-26 18 MAHARASHTRA - 43 19 KARNATAKA - 14 20 ANDHRA PRADESH - 35 21 TAMIL NADU - 75 22 KERALA - 20 IndoStar Capital Finance: ICF, IndoStar Housing Finance Company: HFC 427 Branches Across 22 States INDOSTAR 452 424 423 427 413 42 56 99 62 77 67 75 38 73 66 304 315 293 288 284 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 ICF (Independent Branches) ICF (Common sharing Branches) HFC Employee Base 3,046 577 3,134 2,897 2,729 2,814 883 670 684 757 2,469 2,227 2,251 2,045 2,057 Jun-22 Sep-22 Dec-22 IndoStar Capital Finance Mar-23 IndoStar Housing Finance Jun-23 17#19Movement Non-performing Assets IndoStar Capital Finance (%) IndoStar Housing Finance (%) Gross Stage 3 Net Stage 3 Gross Stage 3 Net Stage 3 INDOSTAR 9.4% 8.3% 9.1% 8.1% 7.9% GALAI 4.1% 3.4% 4.1% 3.8% 3.7% 1.9% 1.2% 1.4% 1.1% 1.7% 1.2% 1.3% 0.9% 1.2% 0.9% 1111 Q1 FY23 Q2 FY23 Q3 FY23 Q4FY23 Q1 FY24 Q1 FY23 Q2 FY23 Q3 FY23 Q4FY23 Q1 FY24 The NPA ratios are reducing over the quarters and expected to reduce further in the coming quarters 18#20Declining Non-performing Assets Consolidated NPA Trends (%) Gross Stage 3 Net Stage 3 Total Provisioning as % of Loan Assets Stage 3 Provision Coverage Ratio Provisioning as % of Loan Assets INDOSTAR 8.2% 7.1% -1.6 7.8% 6.8% 6.6% 57.8% 60.1% 56.2% 54.2% 53.7% 16688 LLLLL 3.6% 2.9% 3.6% 3.2% 3.1% 8.4% 8.1% 8.3% 7.8% 7.5% Q1 FY23 Q2 FY23 Q3 FY23 Q4FY23 Q1 FY24 Q1 FY23 Q2 FY23 Q3 FY23 Q4FY23 Q1 FY24 The NPA ratios are reducing over the quarters and expected to reduce further in the coming quarters 19#21Stable Net Stage 3 % in FY23 Particulars (crs) Gross Stage 1 & 2 ECL Stage 1 & 2 Net Stage 1 & 2 ECL Provision % INDOSTAR Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 6,905 6,591 6,308 6,478 6,674 292 294 265 268 271 6,613 6,297 6,043 6,210 6,403 4.2% 4.5% 4.2% 4.1% 4.1% Particulars (crs) Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 Gross Stage 3 485 479 537 493 593 ECL Stage 3 260 260 301 296 343 Net Stage 225 219 235 197 251 ECL Provision % 53.7% 54.2% 56.2% 60.1% 57.8% Particulars (crs) Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 Total ECL Provision 552 554 566 565 613 Gross Stage 3% 6.6% 6.8% 7.9% 7.1% 8.2% Net Stage 3 % 3.1% 3.2% 3.6% 2.9% 3.6% 20#22Collection Efficiency Particulars (crs) Jul-22 INDOSTAR EMI Billing EMI collected 226 191 Overdue/Prepayments collections 118 Collection efficiency Total Collection % 309 136.7% Aug-22 205 178 88 267 130.3% Sep-22 214 186 108 294 137.5% Oct-22 203 172 79 251 123.5% Nov-22 222 172 165 337 151.8% Dec-22 260 219 130 349 134.1% Jan-23 221 180 117 297 134.3% Feb-23 269 178 102 280 104.1% Mar-23 239 195 147 342 142.9% Apr-23 237 175 207 383 161.5% May-23 242 185 149 334 138.1% Jun-23 270 205 118 323 119.4% Q1FY23 725 605 708 1,312 181.0% Q2FY23 645 556 314 870 134.9% Q3FY23 685 563 374 937 136.7% Q4FY23 729 553 365 918 126.0% FY23 2,784 2,276 1,762 4,038 145.0% Q1FY24 749 565 475 1,040 138.8% EMI collection efficiency in Q1FY24 for Commercial Vehicle loan portfolio is 90% and Housing Finance loan portfolio is 94 % Collection Efficiency = Total Collection/EMI Billing 21#23Positive ALM on Cumulative Basis Particulars (in crs) Opening cash & equivalents* Loan repayment inflows [Principal] Fresh borrowings Total inflow Liability repayment [Principal] NCDs Term loans & Others Commercial paper Total outflow Closing cash and equivalents Details of Opening Cash & Equivalents As on June 30, 2023 Cash & Cash equivalents Liquid Debt Mutual Funds Investment in G-Sec Undrawn funding Lines Total INDOSTAR Jul-23 Aug-23 Sep-23 Q3 FY23 Q4 FY23 Q1 FY24 1,111 1,135 1,046 823 970 894 108 109 110 338 339 386 0 0 0 0 0 0 1,219 1,244 1,155 1,161 1,310 1,280 0 0 20 3 72 43 84 198 313 187 269 172 0 0 0 0 75 0 84 198 333 190 416 215 1,135 1,046 823 970 894 1,064 crs 719 70 97 226 1,111 Robust closing cash and bank balance (1,111 crs as on June 23), sufficient to stable growth going forward 22#24Diversified Borrowing Profile Supported by Capital Adequacy Diversified Funding Mix (June 2023) Net-worth and Capital Adequacy INDOSTAR Capital Adequacy 29% 34% 33% 32% 34% 20% 35% 1% O 0% 14% 2,995 3,050 3,086 3,112 3,151 --||||| 30% Net-worth (crs) ■ NCD ■Banks ■Securitisation Others ■CP ■ Equity Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Gearing Ratio 2.0x 1.8x 1.8x 1.8x 1.9x 23#25Credit Rating remains Strong Key Rating Drivers Demonstrated support from majority shareholders, Brookfield & Everstone Strong capitalisation with healthy net worth base Increased granularity of loan book owing to retail focus, albeit low seasoning Continued strong performance of housing finance subsidiary Strong Credit Ratings Borrowing Type Rating Firm Ratings CRISIL AA (-) Term Loans CARE A+ CRISIL AA (-) Redeemable NCDs CARE A+ CPS CRISIL / CARE A1 (+) INDOSTAR Note: CARE ratings outlook have been changed to "Stable" from "under watch with Negative Implications". Long term rating by CARE is applicable only for IndoStar Capital Finance Limited. CRISIL while re-affirming the AA- Credit Rating, has modified the Outlook from "Rating Watch with Negative Implications" to AA-/Negative. CRISIL rated long-term rating at AA-/Negative and short-term rating at A1+ on 28th July 2023 (Rating watch with negative implications removed). ⚫ CARE re-affirmed long-term rating to A+, short term rating re-affirmed at A1+ on 1st April 2023 24 14#26CV Finance#27Commercial Vehicle Finance *Data as of June 2023 AUM of 3,928 crs Average Ticket Size of 7.6 Lakhs Used Vehicle Disbursement of 93% in Q1FY24 vs 96% in Q4FY23 Presence across 22 States Average Loan to Value Ratio is 74.0% in Q1FY24 vis-à-vis 72.7% in Q4FY23 Disbursements Yield ~18.7% Gross Stage 3 of 7.5% & Net Stage 3 of 2.8% INDOSTAR 26#28CV Finance Key Operational Parameters AUM (* crs) 3,835 3,928 3,612 3,672 3,469 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Average Ticket Size (* lakhs) AUM Mix (Geography -Wise) (%) 20% North 20% 26% South East West 34% Loan to Value (%) INDOSTAR 5.7 7.6 6.8 69.6% 69.7% 68.5% 72.7% 74.0% ……ll ill 5.6 5.5 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 27#29CV Finance Key Operational Parameters Disbursements (* crs) 334 240 203 Disbursements Yield (%) INDOSTAR 755 19.9% 19.8% 19.5% 657 19.1% 18.7% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Disbursement Mix (Product -Wise) (%) 4% 5% 0% 7% 84% Q1FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Disbursement Mix (Geography -Wise) (%) Car North 19% Construction Equipment 23% South Farm Equipment East Two Wheeler West Commercial Vehicle 19% 39% 28#30IT - Key Enabler for Control / Growth INDOSTAR • . IndoStar Connect - Onboarding Digital loan origination mobile and web application for seamless journey. Enabling sales, credit and operations to improve quantity and quality. Enabling paperless lending. Increased regulatory and audit compliance. IndoStar Connect - Verification & Validation One click verification of proof of address (POA) and proof of identity (POI) via API integration. Quick CIBIL check for Go/No-Go decision. Geo-tagging of field visits Internal customer and asset dedupe. Instant Registration certification (RC) verification from Vahaan. Document upload through mobile application. Instant bank statement analysis and plotting through integration. API integrated repayment track record mapping from CIBIL. Instant Anti money laundering (AML) check for credit decisioning. • • Lending Software End to End services Digital case credit assessment memo (CAM)generation. Automated deviations to credit hierarchy based on data captured from different sources and user inputs. (BRE driven) Enabling RCU workflow for screening, sampling and hunter check. Enabling e-Signing and e-stamping of loan agreements. Enabling e-NACH and e-Mandates for EMI repayment. Verified bank details via penny drop service. Reduced turn around time operations due to API based customer for data verification. Payment Automation A digitized way of collection by way of enhanced monitoring, controlling and issuing receipt Easy access mobile app which can be used on any compatible device Auto allocation of cases based on suitability and on set parameters GEO Tagging of all employees using application Auto tracking of commitment with reminders Permanent trail of cases without any manual intervention Better controls at different levels Transparency in operations and evaluation empaneling UPI & GPay to fast-track collection mechanism 29#31IndoStar Home Finance Private Limited#32Affordable Home Financing Solutions IndoStar Home Finance Private Limited *Data as of December 2022 AUM of 1,741 crs Portfolio Average Ticket Size of 9 Lakhs Salaried: 50% and Self Employed 50% HF:71% and LAP: 29% Presence across 10 States Average Loan to Value Ratio: 48.39% Blended Yield ~15% Gross Stage 3 of 1.2% & Net Stage 3 of 0.9% INDOSTAR 31#33Focusing on Growing Housing Finance Book (crs) Housing Finance - AUM 1,741 (crs) Housing Finance - Disbursements INDOSTAR 1,467 1,489 1,526 1,623 115 107 183 190 wall wall Q1FY23 Q2FY23 82 Q3FY23 Q4FY23 Q1FY24 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 32#34Housing Finance: Key Operational Parameters Average Ticket Size({ lakhs) 7.8 7.7 7.5 Q1FY23 Q2FY23 8.9 9.0 Live Accounts INDOSTAR 21,975 20,162 18,409 17,556 17,089 Q3FY23 Q4FY23 Q1FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Loan to Value (%) Geographical Distribution (Value -Wise) (%) 50.4% 50.0% 49.4% 48.7% 48.0% 36% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 11% 14% 4% 3% 7% 4% 21% ANDHRA PRADESH GUJARAT KARNATAKA MAHARASHTRA NEW DELHI RAJASTHAN TAMIL NADU TELANGANA 33#35Housing Finance: Key Financial Parameters AUM (crs) Gross Stage 3 & Net Stage 3 (%) INDOSTAR 832 996 +20% 1,406 1,741 1,623 IL 0.8% 0.7% 1.9% 1.8% CRAR 1.4% 1.3% 1.2% 1.1% Gross Stage 3 0.9% 0.9% 73.41% Net Stage 3 Jun 23 FY 20 FY 21 FY 22 FY23 Q1FY24 FY 20 FY 21 FY 22 FY23 Q1FY24 PPOP PAT 14 14 48 PPOP & PAT ( crs) 52 52 51 38 34 28 ROA & ROE (%) 13.8% 9.0% 7.8% 7.2% 5.9% ROE 3.3% 3.2% 2.8% 12 2.1% 2.1% 8 ROA FY 20 FY 21 FY 22 FY23 Q1FY24 FY 20 FY 21 FY 22 FY23 Q1FY24 D/E Ratio 1.88x Jun 23 34#36Catering to Underpenetrated Segments Across Product Types Characteristics Salaried Textile loom workers Retail workers 帟 Small traders Self Employed Kirana shop owners FMCG workers School teachers Tea & snack vendors Vegetable vendors Profession Annual Household Income Formal Credit Experience Manual labourers Helpers Factory labourers Class IV government employees Small time manufacturers OOOOO 間 Micro scale milk vendors < Rs 6 Lacs Textile loom Small contractors 35-40% are New to Credit; Others may have some credit history largely on account of consumer durable loans INDOSTAR 35#37Process Excellence: Credit & Underwriting Evaluation of Profile and Property Risk • Collecting KYCS -Aadhar, PAN, Credit history checks with bureaus. Assessment of LTV, FOIR • Assessment of employment / business stability • Banking Flows, establishing surrogates • RCU/FI checks Assessment of Total Income (Individual & Household) • Verification of assets wherever applicable • Detailed cash flow assessment done . Legal & Technical checks • including income inflows and cost of running household/business Personal discussion with applicant and family member • Verification of assets wherever applicable Arriving at disposable income CREDIT & UNDERWRITING Evolving Underwriting Processes Building self learnings in the credit programs ✓ INDOSTAR Excluded from Portfolio ✓ Builder under Construction Plot + Construction • Continuous improvement in the underwriting process to factor in profile risk and property risk • Introducing centralized underwriting ✓ Balance Transfer + Top up . Property score card development under process 36#38Process Excellence: Collections & Monitoring INDOSTAR Pre Bounce/Delinquency • Use of Bounce prediction tool which provides with the pool of customers with high probability where focused efforts are put in to collect advance EMIS to avoid bounce • Sales team is responsible for collections with less than 500 loan count and bounce ratio of less than 10% • Pre due calling on entire portfolio through External Bot Vendor Collection Process Post Bounce/Delinquency • Cases are allocated to branch sales RM/collections officers Repeated follow-ups and hand-holding with the customers on case to case basis • • • Special focus on contracts in 31-60 dpd bucket to stop flow forward • Enforcement of SARFAESI with the help of an external agency in deep bucket cases • Continuous monitoring from corporate office with the help of robust dashboard system developed with the help of Tableau. These dashboards provide real-time details of bounces, collections status, dpd details etc • In house collections team • Collections legal person is in place • Collections Responsibility on sales employees ensure right customer sourcing • Strict adherence to code of conduct prescribed by regulator in collections 37#39Analytics driven Risk Management to control Delinquency Key Risk Management Aspects Monitored Roll Rate Analysis Lagged Delinquencies Bounce Rate Analysis Portfolio Triggers Billing Efficiency Monitoring Bounce and 30+ & 90+ Delinquency Trends 16.7% 15.5% 12.8% INDOSTAR Robust dashboards developed in the system to enable real time monitoring of mentioned parameters Dashboards are sent to branch managers to enable them to monitor their originated portfolio and take corrective action as necessary Rigorous review mechanism in place to conduct regular reviews at branch, state, region and corporate level to ensure proper monitoring and action Origination and underwriting parameters are continuously watched and improved based on the dashboard results 13.3% 12.8% 12.10% 11.1% 10.5% 9.3% 9.3% 6.8% 7.2% 6.7% 5.6% 5.3% 4.6% 3.7% 3.30% 2.5% 2.8% 2.3% 2.6% 2.8% 1.6% 1.6% 1.6% 1.1% 0.9% 0.9% 1.06% Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Bounce Rate -Delinquency - 30+% Delinquency - 90+% 38#40Financial Performance#41ICF Standalone - Income Statement INDOSTAR Particulars (in crs) Revenue from operations Interest expenses Net Interest Income Other Income Q1FY24 Q4FY23 Q-o-Q Q1FY23 Y-o-Y FY23 FY22 Y-o-Y 241.2 236.0 258.5 968.9 1,042.2 133.3 134.3 132.4 518.0 514.3 108.1 101.7 6% 126.1 (14%) 450.9 527.9 (15%) 0.1 3.9 0.2 4.4 11.4 Total Income 108.2 105.6 2% 126.2 (14%) 455.2 539.2 (16%) Employee Benefits Expense* 49.1 (6.6) 45.7 132.6 176.3 Depreciation and Amortization Expense 6.7 8.3 9.3 36.3 33.8 Other Expenses 34.3 32.1 29.6 139.2 119.2 Total operating expenses 90.1 33.7 167% 84.6 6% 308.1 329.3 (6%) Pre-provision operating profit 18.1 71.9 (75%) 41.6 (56%) 147.1 209.9 (30%) ECL Provision (19.4) (3.0) (458.9) (520.3) 573.1 Write offs 6.6 1.7 455.6 480.1 577.6 Credit costs (12.8) (1.2) 941% (3.3) 288% (40.1) 1,150.8 (103%) Profit before tax 30.9 73.1 (58%) 44.9 (31%) 187.3 (940.9) (120%) Tax Profit after tax 0.0 0.0 0.0 0.0 (171.7) 30.9 73.1 (58%) 44.9 (31%) 187.3 (769.2) (124%) *Q4FY23 and FY23 includes reversal of 50.5 crore & 44.2 crore on account of cancellation of unvested ESOPS 40#42ICF Standalone - Balance Sheet INDOSTAR Equity & Liabilities (* in crs) Jun'23 Mar'23 Jun'22 Assets (in crs) Jun'23 Mar'23 Jun'22 Financial Asset Financial Liabilities Cash and cash equivalents 623.2 165.0 255.1 Trade payables 5.8 7.4 1.2 Bank balance other than cash & cash equivalent 206.5 203.4 367.0 Debt Securities 1,867.4 1,108.9 1,612.8 Loans 5,409.9 5,195.6 5,440.2 Borrowings other than debt securities 2,967.5 3,704.2 3,446.2 Investments 771.7 1,457.1 1,159.9 Other financial liabilities 205.0 282.1 406.6 Other financial assets 304.1 334.2 369.5 Total financial liabilities 5,045.7 5,102.6 5,466.8 Total financial assets 7,315.3 7,355.3 7,591.7 Non-Financial Liabilities Non-Financial assets Provisions 4.8 4.7 5.5 Current tax assets (Net) 62.2 53.8 77.5 Other non financial liabilities 7.1 9.5 1.6 Deferred tax assets (Net) 316.4 316.4 316.6 Total non-financial liabilities 11.9 14.2 7.1 Property, plant and equipment 42.3 47.9 63.1 Assets held for sale 13.0 13.0 13.0 Equity Goodwill 300.2 300.2 300.2 Equity share capital 136.1 136.1 136.1 Intangible assets 17.9 20.4 11.3 Other equity 2,918.0 2,886.5 2,791.9 Other non-financial assets 44.4 32.3 28.6 Total equity 3,054.1 3,022.6 2,928.0 Total non-financial assets 796.4 784.0 810.2 Total Liabilities & Equity 8,111.7 8,139.3 8,401.9 Total Assets 8,111.7 8,139.3 8,401.9 41 44#43HFC Income Statement INDOSTAR Particulars (in crs) Revenue from operations Interest expenses Net Interest Income Other Income Q1FY24 Q4FY23 Q-o-Q Q1FY23 Y-o-Y FY23 FY22 Y-o-Y 59.3 50.6 55.4 208.3 144.6 22.7 17.7 15.7 65.2 49.3 36.6 32.9 11% 39.7 (8)% 143.1 95.3 50% 0.2 0.3 0.2 0.9 0.2 Total Income 36.8 33.2 11% 39.9 (8)% 144.0 95.5 51% Employee Benefits Expense 14.4 10.1 9.1 45.3 28.8 Depreciation and Amortization Expense 1.2 0.9 0.6 3.2 1.6 Other Expenses 9.6 21.5 7.7 44.5 13.0 Total operating expenses 25.2 32.5 (23)% 17.4 44% 93.0 43.3 115% Pre-provision operating profit 11.6 0.7 1554% 22.5 (48)% 51.0 52.2 (2)% ECL Provision (1.7) (3.6) 1.0 (6.7) 4.9 Write offs 2.6 (0.2) 0.0 6.5 1.3 Credit costs 0.9 (3.7) (124)% 1.0 (8)% (0.2) 6.1 Profit before tax 10.7 4.4 141% 21.5 (50)% 51.2 46.1 11% Tax 2.7 1.4 5.5 13.5 11.8 Profit after tax 8.0 3.1 158% 16.0 (50)% 37.8 34.3 10% 42 42#44HFC Balance Sheet INDOSTAR Equity & Liabilities (* in crs) Financial Liabilities Jun'23 Mar'23 Jun'22 Assets (in crs) Jun'23 Mar'23 Jun'22 Financial Asset Trade payables 23.3 23.9 11.7 Cash and cash equivalents 65.2 10.1 3.1 Debt Securities 30.6 0.0 48.9 Bank balance other than cash & cash equivalent 60.8 32.6 20.9 Borrowings other than debt securities 981.4 835.0 761.3 Loans 1,427.3 1,320.1 1,213.6 Other financial liabilities 30.0 50.0 24.5 Total financial liabilities 1,065.3 908.9 846.4 Investments 0.0 35.0 87.6 Non-Financial Liabilities Other financial assets 41.6 40.7 30.8 Current tax liabilities (Net) 0.0 0.0 0.6 Total financial assets 1,594.9 1,438.4 1,356.0 Provisions 1.2 0.9 1.0 | Non-Financial assets Deferred tax liabilities (Net) 6.3 5.8 2.3 Other non-financial liabilities Current tax assets (Net) 3.1 2.3 2.5 0.6 1.6 1.0 Total non-financial liabilities 8.0 8.3 4.9 Property, plant and equipment 9.3 5.6 4.1 Equity Intangible assets 3.3 3.2 1.9 Equity share capital 450.0 450.0 450.0 Other non-financial assets 7.6 4.7 2.2 Other equity 95.0 Total equity 545.0 87.1 537.1 65.3 Total non-financial assets 23.3 15.9 10.6 515.3 Total Liabilities & Equity 1,618.2 1,454.3 1,366.5 Total assets 1,618.2 1,454.3 1,366.5 43 133#45Consolidated - Income Statement INDOSTAR Particulars (in crs) Revenue from operations Interest expenses Net Interest Income Other Income Q1FY24 Q4FY23 Q-o-Q Q1FY23 Y-o-Y FY23 FY22 Y-o-Y 299.1 285.2 313.8 1,174.3 1,162.7 154.4 150.4 148.1 580.3 539.5 144.7 134.8 7% 165.7 (13%) 594.1 623.2 (5%) 0.3 4.1 0.4 5.3 11.6 Total Income 145.0 138.8 4% 166.1 (13%) 599.4 634.8 (6%) Employee Benefits Expense* 63.5 3.5 54.8 177.8 205.0 Depreciation and Amortization Expense 7.9 9.2 9.9 39.6 35.4 Other Expenses 43.9 53.5 37.3 183.8 132.2 Total operating expenses 115.3 66.2 74% 102.0 13% 401.1 372.6 8% Pre-provision operating profit 29.7 72.6 (59%) 64.1 (54%) 198.3 262.1 (24%) ECL Provision (21.1) (6.3) (457.9) (527.0) 578.9 Write offs 9.2 1.6 455.6 486.6 579.6 Credit costs (11.9) (4.7) 153% (2.3) 411% (40.4) 1,158.5 (103%) Profit before tax 41.6 77.3 (46%) 66.4 (37%) 238.6 (896.4) (127%) Tax 2.7 1.3 5.5 13.5 (159.9) Profit after tax 38.9 76.0 (49%) 60.9 (36%) 225.2 (736.5) (131%) *Q4FY23 and FY23 includes reversal of 50.5 crore & 44.2 crore on account of cancellation of unvested ESOPS 44#46Consolidated - Balance Sheet INDOSTAR Equity & Liabilities (* in crs) Financial Liabilities Trade payables Debt Securities Borrowings other than debt securities Other financial liabilities Jun'23 Mar'23 Jun'22 Assets (in crs) Jun'23 Mar'23 Jun'22 Financial Asset 5.8 7.9 12.9 Cash and cash equivalents 693.0 179.7 262.7 1,898.0 1,108.9 1,661.7 3,948.8 4,539.2 4,207.5 Bank balance other than cash & cash equivalent 267.2 236.0 387.8 Loans 6,837.2 6,515.7 6,653.9 235.1 332.2 431.1 Investments 319.1 1,039.4 794.8 Total financial liabilities 6,087.7 5,988.1 6,313.2 Other financial assets 322.4 351.6 400.3 Non-Financial Liabilities Total financial assets 8,439.0 8,322.4 8,499.5 Current tax liabilities (Net) 0.0 0.0 0.6 Non-Financial assets Provisions 6.0 5.6 6.5 Current tax assets (Net) 65.3 56.1 80.0 Deferred tax liabilities (Net) 6.3 5.8 2.3 Deferred tax assets (Net) 316.4 316.4 316.6 Other non-financial liabilities 7.7 11.1 2.6 Property, plant and equipment 51.6 53.5 67.2 Total non-financial liabilities 19.9 22.5 12.0 Assets held for sale 13.0 13.0 13.0 Equity Goodwill 300.2 300.2 300.2 Equity share capital 136.1 136.1 136.1 Intangible assets 21.2 23.5 13.1 Other equity 3,015.0 2,975.5 2,859.0 Other non-financial assets 52.0 37.1 30.7 Total equity 3,151.0 3,111.6 2,995.1 Total non-financial assets 819.7 799.8 820.8 Total Liabilities & Equity 9,258.7 9,122.2 9,320.3 Total Assets 9,258.7 9,122.2 9,320.3 45#47Historical Consolidated Income Statement INDOSTAR Particulars ( in crs) Revenue from operations Interest expenses Net Interest Income Other Income FY23 FY22 FY21 FY20 1,174.3 1,162.7 1,279.8 1,597.5 580.3 539.5 708.6 863.4 594.1 623.2 571.2 734.1 5.3 11.6 7.4 1.5 Total Income 599.4 634.8 578.6 735.5 Employee Benefits Expense 177.8 205.0 173.7 188.7 Depreciation and Amortization Expense 39.6 35.4 33.5 30.1 Other Expenses 183.8 132.2 128.3 93.2 Total operating expenses 401.1 372.6 335.5 312.0 Pre-provision operating profit 198.3 262.1 243.1 423.5 ECL Provision (527.0) 578.9 169.1 362.8 Write offs Credit costs Profit before tax Tax Profit after tax 486.6 579.6 292.9 497.4 (40.4) 1,158.5 462.0 860.2 238.6 (896.4) (218.9) (436.7) 13.5 (159.9) (4.8) (112.1) 225.2 (736.5) (214.1) (324.6) 46#48Historical Consolidated Balance Sheet Assets (in crs) Financial Asset - Cash and cash equivalents Bank balance other than cash & cash equivalent Loans Investments Other financial assets Total financial assets Non-Financial assets Mar'23 Mar'22 Mar'21 Mar'20 INDOSTAR 179.7 80.3 279.2 168.4 236.0 409.4 241.0 376.7 6,515.7 7,706.9 7,139.3 8,293.1 1,039.4 547.7 1,591.4 230.6 351.6 101.0 143.8 339.4 8,322.4 8,845.2 9,394.6 9,408.1 Current tax assets (Net) 56.1 69.0 120.5 133.9 Deferred tax assets (Net) 316.4 316.7 145.2 129.8 Property, plant and equipment 53.5 72.7 60.9 78.6 Assets held for sale 13.0 13.0 20.9 38.7 Goodwill 300.2 300.2 300.2 300.2 Intangible assets 23.5 13.1 4.5 3.8 Other non-financial assets 37.1 31.6 37.0 35.5 Total non-financial assets 799.8 816.2 689.2 720.5 Total Assets 9,122.2 9,661.5 10,083.8 10,128.6 47#49Historical Consolidated Balance Sheet INDOSTAR Equity & Liabilities (in crs) Mar'23 Mar'22 Mar'21 Mar'20 Financial Liabilities Trade payables 7.9 2.7 3.9 11.1 Debt Securities 1,108.9 1,977.9 2,012.8 2,089.5 Borrowings other than debt securities 4,539.2 4,245.5 3,994.8 5,052.5 Other financial liabilities 332.2 491.4 357.2 256.5 Total financial liabilities 5,988.1 6,717.5 6,368.7 7,409.5 Non-Financial Liabilities Provisions 5.6 7.0 7.6 9.1 Deferred tax liabilities (Net) 5.8 0.8 2.3 0.0 Other non-financial liabilities 11.1 7.1 7.0 29.4 Total non-financial liabilities 22.5 14.9 16.8 38.5 Equity Equity share capital 136.1 136.1 123.7 92.5 Preference share capital 0.0 0.0 12.1 0.0 Other equity 2,975.5 2,793.0 3,562.5 2,588.1 Total equity 3,111.6 2,929.1 3,698.3 2,680.6 Total Liabilities & Equity 9,122.2 9,661.5 10,083.8 10,128.6 48#50Ownership Structure and Management Team#51Large Global Private Equity Parentage 1.29% 1.74% 21.98% ■ Promoters ■DII ■ Public Shareholding Pattern (As on June 2023) Shareholders % INDOSTAR Promoters 74.99 BCP V Multiple Holdings Pte Ltd 56.20 (Brookfield) Everstone Group 18.79 74.99% Domestic Institutional Investors 1.74 ICICI Prudential Life Insurance Company Limited 1.36 Foreign Institutional Investors 1.29 Foreign Portfolio Investors Category I & II 1.29 Note: Everstone Group have completed the sale of 14.21% of the total paid-up equity share capital of the Company through an Offer for Sale, to comply with the minimum public shareholding requirements as per SEBI. Pursuant to the same Everstone Group's holding stands at 18.8% and public shareholding in the company increased to 25% w.e.f. 05th May 2023 50#52Experienced Management Team - IndoStar INDOSTAR Karthikeyan Srinivasan Chief Executive Officer - ICF o He has over 25 years of experience in the areas of Retail Sales, Client Servicing, Credit/Portfolio Management and People Management in BFSI sector and have handled a wide range of financial products including CV Loans, Construction Equipment Loan, Tractor Loans, Two-wheeler Loans etc. o He has worked with various Banks like ICICI Bank Ltd, Kotak Mahindra Finance Limited, Cholamandalam Investment and Finance Company Ltd. Vinodkumar Panicker Chief Financial Officer - ICF o He has a career span of over 35 years serving in Banking & Financial Services and has a rich experience in managing & handling finance & accounts, legal & secretarial, investors & analysts, board members etc. o In his last assignment with Muthoot Capital Services, Vinod was designated as CFO Shreejit Menon Chief Executive Officer - HFC o He is a Commerce Graduate and has a Master's degree in Management Studies from University of Mumbai о He has several years of experience with financial institutions like Religare Housing Development Finance Corporation Limited, Muthoot Housing Finance Company Limited and HSBC Limited ○ Pushkar Joshi Chief Financial Officer - HFC He has over 13 plus years of experience in Treasury & Corporate Finance domain with expertise in fund raising & fund management, asset liability management & cash flow management. o He has also worked with Avanse Financial Services Ltd, Tata Motors Finance Ltd & was Industrial Trainee (Financial Controls) at Hon-Kong & Shanghai Banking Corporation (HSBC). Shikha Jain Company Secretary and Compliance Officer - ICF o She is a Commerce Graduate and a qualified Company Secretary from the Institute of Company Secretaries of India ○ She has experience in working under secretarial department of Public and Private Limited Companies. She has worked with IIFL Wealth Finance Limited and Anand Rathi Group prior to joining IndoStar о Nidhi Sadani Chief Compliance Officer - HFC She has more than 7 years of experience in Compliance Management o She has earlier worked with Intelligent Money Manager Pvt ltd 51#53Esteemed Board of Directors INDOSTAR BOBBY PARIKH Chairman and Non-Executive Independent Director o He has nearly three decades of experience in financial services industry/reorganizations o His area of focus is providing tax and regulatory advice in relation to transactions and other forms of business reorganizations o He is a qualified Chartered Accountant from the ICAI and holds a Bachelor of Commerce degree from the University of Mumbai Naina Krishna Murthy Non-Executive Independent Director o She has more than two decades of experience in the legal sector. She is the Founder and Managing Partner of Krishnamurthy & Company o Over the years, Mrs. Murthy has built a strong reputation in corporate commercial law, specifically in the areas of M&As, JVs, collaborations and PE/VC investments o She holds a degree in Law, with a B.A. and LLB (Hons) from National Law School, Bangalore Hemant Kaul Non-Executive Independent Director o He has vast experience as an independent management consultant, having worked with private equity firms to evaluate investments in the financial sector o He holds a Bachelor's degree in Science and a Master's degree in Business Administration from Rajasthan University 52 52#54Esteemed Board of Directors Munish Dayal Non-Executive Director o He is Managing Director - Private Equity & Business Operations at Brookfield Asset Management (BAM) and has over three decades of experience in financial services He is a commerce graduate from Shri Ram College of Commerce, University of Delhi and completed his master's in business administration from Faculty of Management Studies, University of Delhi Aditya Joshi Non-Executive Director о He is MD in Brookfield's Private Equity Group and heads the PE for Brookfield in India o Prior to Brookfield, he was a Principal at Apax Partners in India, he also worked at The Blackstone Group and Morgan Stanley in India о He holds an MBA from The Wharton School, University of Pennsylvania, a bachelor's degree in accounting and finance from the University of Pune and is a CA and member of The ICAI Vibhor Talreja Non-Executive Director o He joined Everstone in 2019 as a Managing Director to lead the financial services sector along with other responsibilities o He has extensive experience in Financial Services, Industrial/Consumer, Real Estate & Telecom sectors and has worked with JM, Morgan Stanley and Tata Administrative Services. He is an alumnus of IIT Kanpur and IIM Bangalore Dhanpal Jhaveri Non-Executive Director о He has over two decades of experience in investments, strategy, M&A and investment banking. Currently, he is a Managing Partner at the Everstone Group o He holds a degree in Bachelor of Commerce from the University of Mumbai and an MBA from Babson College, USA INDOSTAR 53#55COMPANY INDOSTAR IndoStar Capital Finance Limited CIN: L65100MH2009PLC268160 Email: [email protected] Website: www.indostarcapital.com Thank You INVESTOR RELATIONS ADVISORS σ orient capital Orient Capital (a division of Link Group) Mr. Nikunj Jain +91 9769060608 [email protected] Mr. Amar Yardi +91 7045121239 [email protected]