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IndoStar Capital Finance consolidated PAT grows 28%, AUM 31% and Disbursements 36% YoY

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Q2 FY25 Quarter Performance:

Robust demand for used commercial vehicle (CV):

Vehicle finance (VF) AUM at ₹ 6,964 crore, up 10%, QOQ and 59% YoYVF Disbursements at ₹ 1,449 crore, up 53% from ₹ 948 crore in Q2FY24

Q2 FY25 Highlights (Consolidated):

AUM at ₹ 10,112 crore, up 6% from ₹ 9,565 crore in Q1 FY25 and up 31% YoY from Q2 FY24Disbursements of ₹ 1,724 crore, up 36% YoY from ₹ 1,269 crore in Q2 FY24

Q2 FY25 Highlights (Standalone – ICF):

AUM at ₹ 7,550 crore, up 5% from ₹ 7,170 crore in Q1 FY25VF AUM at ₹ 6,964 crore, up 10% from ₹ 6,323 crore in Q1 FY25 and up 59% YoY from Q2 FY24VF Disbursements at ₹ 1,449 crore, up 53% from ₹ 948 crore in Q2FY24Debt/Equity Ratio at 2.26xGross Stage 3 assets at 4.97% for Q2 FY25Net Stage 3 assets are at 2.50% for Q2 FY25Strong Capital Adequacy at 25.86%

Q2 FY25 Highlights (HFC – Subsidiary):

AUM at ₹ 2,562 crore, up 7% from ₹ 2,395 crore in Q1 FY25, and up 35% YoY from Q2 FY24Debt/Equity Ratio at 3.20x timesGross Stage 3 assets at 1.41% for Q2 FY25Net Stage 3 assets at 1.11% for Q2 FY25Strong Capital Adequacy at 55.68%, on a standalone basis

MUMBAI, India, Oct. 21, 2024 /PRNewswire/ — IndoStar (BSE: 541336) (NSE: INDOSTAR) (ISIN: INE896L01010) (CIN: L65100MH2009PLC268160), a middle-layered non-banking finance company (NBFC) registered with the Reserve Bank of India, announced its financial results for the quarter September 30th, 2024, earlier today.

The company AUM at ₹ 10,112 crore, is up 6% QoQ from ₹ 9,565 crore in Q1 FY25. At a consolidated level, the Company delivered a PAT of ₹32 crore for Q2 FY25.

Progress on key initiatives is detailed here:

Sale of IndoStar Home Finance to EQT: On September 19, 2024, IndoStar Capital Finance Limited (Indostar) announced the sale of its wholly owned subsidiary, IndoStar Home Finance Private Limited (IHFPL) to WITKOPEEND B.V., an affiliate of BPEA EQT Mid-Market Growth Partnership (‘EQT’), a global private equity investor, for ₹1,750 crore on a fully diluted basis. The transaction is subject to customary conditions precedent, including receipt of RBI approval, consent from lenders and shareholders’ approval.

Sale of Stressed Pool: On August 27, 2024, IndoStar sold a pool of assets from its legacy corporate loan book and Commercial Vehicle business worth ₹ 357 crore to Pridhvi Asset Reconstruction and Securitisation Company Limited (‘PARAS’).

Issue of Secured, Redeemable, Non-Convertible Debentures (NCD’s): During the quarter, the company raised ₹ 266 crore through its maiden public issue of Secured, Redeemable, Non-Convertible Debentures.

Rating upgraded by CRISIL to ‘Stable’: On September 9, 2024, the long-term rating of IndoStar Capital Finance Limited’s (ICFL’s) facilities and instruments was upgraded by ratings agency CRISIL, to ‘Stable’ from ‘Negative’ while reaffirming the rating at ‘CRISIL AA- and short-term rating of commercial paper is reaffirmed at ‘A1+’.

IndoStar Capital Finance Limited (‘ICFL’) (Standalone) Financial performance

ICFL delivered a PAT of ₹ 18 crore in Q2 FY25. The AUM for ICFL stands at ₹ 7,550 crore out of which the retail vehicle finance business is ₹ 6,964 crore. Disbursements during the quarter stood at ₹ 1,462 crore, up 40% from ₹ 1,048 crore in Q2 FY24. With a focus on collections through the quarter, Gross Stage 3 remains flat at 4.97% in Q2 FY25; Net Stage 3 stood at 2.50%. The company maintained a strong Capital Adequacy Ratio (CAR) of 25.86% on a standalone basis. Debt equity ratio stood at 2.26x.

IndoStar Home Finance Private Limited (‘IHFPL’) Financial Performance

IHFPL delivered a PAT of ₹ 14 crore in Q2 FY25 aided by AUM growth and securitization transactions. The AUM in IHFPL stands at ₹ 2,562 crore in Q2 FY25, up 35% from ₹ 1,894 crore in Q2 FY24. IHFPL continues to deliver on its core strategy of providing affordable housing loans in semi-rural and rural markets, while maintaining healthy asset quality. The company reported Gross Stage 3 assets at 1.41%. IHFPL has a Capital Adequacy Ratio (CAR) of 55.68%.

Key Performance Highlights (ICF Standalone):

Particulars (₹ in crore)

Q2FY25

Q1FY25

Q-o-Q %

Q2FY24

YoY %

Net Revenue from operations

166

144

15 %

104

60 %

Operating expenses

(129)

(112)

15 %

(94)

37 %

Pre-provision operating profit

37

32

16 %

9

311 %

Profit after tax

18

11

64 %

11

64 %

CAR (%) Standalone

25.9 %

27.7 %

33.1 %

Leverage (D/E)

2.7x

2.3x

1.8x

 

Key Performance Highlights (HFC Standalone):

Particulars (₹ in crore)

Q2FY25

Q1FY25

Q-o-Q %

Q2FY24

YoY %

Net Revenue from operations

54

49

10 %

55

(2 %)

Operating expenses

(33)

(28)

18 %

(34)

(3 %)

Pre-provision operating profit

21

21

0 %

20

5 %

Profit after tax

14

14

0 %

15

(7 %)

CAR (%) Standalone

55.7 %

56.2 %

70.8 %

Leverage (D/E)

3.2x

2.6x

1.5x

About IndoStar Capital Finance Limited

IndoStar is a non-banking finance company (NBFC) registered with the Reserve Bank of India classified as a Middle layered NBFC. With Brookfield & Everstone as co-promoters, IndoStar is a professionally managed and institutionally owned entity engaged in providing used and new commercial vehicle financing and affordable Home Finance through its wholly owned subsidiary, IndoStar Home Finance Private Limited.

For more information, visit www.indostarcapital.com.

Safe Harbor

This document is to provide the general background information about the Company’s activities as at the date of the release. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information contained herein. This release may include certain forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as ”expects”, “plans”, ‘will”, “estimates”, “projects”, or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements. Given these risks, uncertainties and other factors, viewers of this release are cautioned not to place undue reliance on these forward-looking statements. This release may contain certain currency exchange rates and the same have been provided only for the convenience of reader.

For further information, please connect with us:
Public Relations: Concept PR
Archana Parthasarathy / Huda Qureshi
Email Id: archana@conceptpr.com / huda@conceptpr.com
Tel: +91 99209 40003 / +91 77108 23343 

View original content:https://www.prnewswire.com/in/news-releases/indostar-capital-finance-consolidated-pat-grows-28-aum-31-and-disbursements-36-yoy-302281608.html

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JND Names Scott Lombard Executive Vice President

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Scott’s vision for the future of eDiscovery has propelled JND to the forefront of the industry, offering unrivaled service and innovation. 

SEATTLE, Jan. 13, 2025 /PRNewswire/ — JND Legal Administration, the U.S. leader in legal management and administration services, announces the promotion of Scott Lombard to Executive Vice President.

Under Scott’s leadership, JND eDiscovery’s business has established itself as the industry leader in eDiscovery innovation. With a future-focused outlook, Scott embraced the possibilities of cloud hosting and made JND the first vendor to use, and the only vendor to exclusively offer, RelativityOne’s cloud environment. His vision of constant innovation and unmatched service has fueled JND’s growth, with his team garnering recognition through Relativity Innovation Awards, National Law Journal Hall of Fame Awards, and patented eDiscovery applications.        

“Scott’s ability to anticipate and capitalize on the constantly accelerating change in eDiscovery has been the driving force for our eDiscovery business,” said Jennifer Keough, CEO and Co-Founder of JND. “He truly believes in empowering our team to develop the most cutting-edge innovations while delivering the industry’s most responsive and personalized service.”

Headquartered in Seattle, JND continues solidifying its status as the industry leader in end-to-end eDiscovery solutions. Its eDiscovery service line supports corporations, law firms, and government agencies in deploying the best solutions and technology to meet their goals using RelativityOne, the market’s leading cloud-based technology solution. JND has achieved Gold Partner status with Relativity for the last three years and is the only Gold partner exclusively offering RelativityOne.

In 2024, JND eDiscovery was inducted into the National Law Journal Hall of Fame for the categories of Best Managed eDiscovery and Litigation Support Provider, and Best End-to-End eDiscovery Provider. 

About JND
JND Legal Administration, is the nation’s foremost legal services management and settlement administration solutions provider in the U.S. Founded by industry veterans Jennifer Keough, Neil Zola, and David Isaac, the company serves plaintiff and defendant law firms, global corporations, and U.S. government entities across five main service lines and has offices in Seattle, Los Angeles, Minneapolis, and New York. For more information, see JNDLA.com.

Media Contact: joe.sexton@jndla.com

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SOURCE JND Legal Administration

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Health Catalyst Signs Definitive Agreement to Acquire Upfront Healthcare Services

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SALT LAKE CITY, Jan. 13, 2025 /PRNewswire/ — Health Catalyst, Inc. (“Health Catalyst,” Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced it has signed a definitive agreement to acquire Upfront Healthcare Services, Inc. (“Upfront”), a next-generation patient engagement platform provider. Health Catalyst anticipates the acquisition will close in the first quarter of 2025.

Upfront provides a market-leading patient activation and engagement platform and a proprietary strategic marketing analytics and content personalization solution for healthcare enterprises. Upfront’s automated patient acquisition and retention solutions enable healthcare organizations to win loyalty and guide every patient to optimal care by leveraging hyper-personalized experiences.

The combination of Upfront’s patient acquisition and scheduling expertise with Health Catalyst’s current robust patient engagement portfolio is expected to strengthen the patient experience foundation set by Twistle Patient Engagement by Health Catalyst™ and the Lumeon by Health Catalyst™ Care Orchestration platform, which both help patients stay informed throughout the care process.

Health Catalyst also looks forward to integrating Upfront’s technology into its offerings, as Upfront’s technology analyzes clinical, sociodemographic, and patient-reported data to digitally guide patients to the care they need, helping care providers reengage patients, promote appointment attendance, streamline scheduling and referrals, and improve care transitions.

Bolstered by the data foundation and deep analytical insights provided by Health Catalyst Ignite™ Data and Analytics, the combination of Upfront’s technology and Health Catalyst Ignite™ will aim to help healthcare clients provide their patients with the best possible care.

“We are excited to welcome the Upfront team and combine our mission-driven mindsets and patient experience capabilities. Guided by our commitment to igniting data-informed healthcare improvement with patient experience as a top priority, we are positioned to provide meaningful support to our clients for the patient care journey,” said Health Catalyst CEO Dan Burton. “Fostering improved patient engagement and satisfaction is critical, and by adding Upfront to Health Catalyst’s existing portfolio, we can better support our clients in their efforts to optimize access, improve care transitions, and close care gaps.”

“We’re thrilled to join the Health Catalyst family,” said Ben Albert, CEO and Co-founder at Upfront. “By combining Upfront’s capabilities with Health Catalyst Ignite, we’re creating a comprehensive solution to elevate patient engagement and activation. Together, we’ll provide our clients with a single partner aiming to transform the patient experience and ensure every patient is guided to the care they need. We’re looking forward to what’s ahead.”

Health Catalyst plans to fund the transaction with a mix of cash and stock. Additional details regarding the acquisition were included in Health Catalyst’s Form 8-K filed with the Securities and Exchange Commission (“SEC”) on January 13, 2025.

About Health Catalyst
Health Catalyst (Nasdaq: HCAT) is a leading provider of data and analytics technology and services that ignite smarter healthcare, lighting the path to measurable clinical, financial, and operational improvement. More than 1,000 organizations worldwide rely on Health Catalyst’s offerings, including our cloud-based technology ecosystem Health Catalyst Ignite™, AI-enabled data and analytics solutions, and expert services to drive meaningful outcomes across hundreds of millions of patient records. Powered by high-value data, standardized measures and registries, and deep healthcare domain expertise, Ignite helps organizations transform complex information into actionable insights. Backed by a multi-decade mission and a proven track record of delivering billions of dollars in measurable results, Health Catalyst continues to serve as the catalyst for massive, measurable, data-informed healthcare improvement and innovation.

About Upfront Healthcare
Upfront is a mission-driven healthcare company delivering tangible outcomes to leading healthcare systems and provider groups. Its patient engagement and access platform makes each patient feel seen, guiding their care experience through personalized outreach. The backbone of the Upfront experience is its data engine, which analyzes clinical, sociodemographic, and patient-reported data. These insights, along with its advanced psychographic segmentation model, allow Upfront to individually activate patients to get the care they need while building a meaningful relationship between the patient and their health system. Upfront is rooted in partnership, leveraging best-in-class healthcare expertise to maximize the impact of technology and deliver a next-generation patient experience.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements regarding Health Catalyst’s ability to close and the timing of the closing of the acquisition of Upfront, its integration with Health Catalyst, and the benefits derived therefrom. Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.

Important risks and uncertainties that could cause actual results to differ materially from Health Catalyst’s expectations, plans and prospects, including the benefits that will be derived from this transaction, include without limitation, conditions to closing the transaction not being satisfied, the risk of adverse and unpredictable macro-economic conditions, the potential impact on the business of Upfront due to the announcement of the transaction, and our ability to integrate Upfront into Health Catalyst’s portfolio. For a detailed discussion of the risk factors that could affect Health Catalyst’s actual results, please refer to the risk factors identified in Health Catalyst’s SEC reports, including, but not limited to, the Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024, filed with the SEC on November 6, 2024 and the Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 22, 2024. All information provided in this release and in the attachments is as of the date hereof, and Health Catalyst undertakes no duty to update or revise this information unless required by law.

Media Contact:
Amanda Flanders
Senior Vice President of Marketing and Communications
media@healthcatalyst.com
808.743.1781

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SOURCE Health Catalyst

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Equinix Announces Tax Treatment of 2024 Distributions

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REDWOOD CITY, Calif., Jan. 13, 2025 /PRNewswire/ — Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company®, today announced the tax treatment for all 2024 distributions on its common stock.

Form 1099

Form 1099

Form 1099

Form 1099

Record Date

Payment Date

Total
Distribution
(per share)

Box 1a
Ordinary
Taxable
Dividend
(per share)

Box 1b
Qualified
Taxable
Dividend 
(per share)

Box 3
Return
of Capital
(per share)

Box 5 
Section 199A
Dividend 
(per share)

Q1

02/28/2024

03/20/2024

$4.260000

$4.260000

$0.000000

$0.000000

$4.260000

Q2

05/22/2024

06/19/2024

$4.260000

$4.260000

$0.000000

$0.000000

$4.260000

Q3

08/21/2024

09/18/2024

$4.260000

$4.260000

$0.000000

$0.000000

$4.260000

Q4

11/13/2024

12/11/2024

$4.260000

$4.260000

$0.000000

$0.000000

$4.260000

Total

$17.04000

$17.04000

$0.000000

$0.000000

$17.04000

This information has been prepared using the best available information to date. Equinix’s federal income tax return for the year ended December 31, 2024, has not yet been filed. Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return. Please also note that state and local taxation of REIT distributions vary and may not be the same as the federal rules. Stockholders are encouraged to consult with their tax advisors as to the specific tax treatment of these distributions.

Please consult your tax advisor regarding Box 5 and how you should report the amount in your tax filing.

About Equinix
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company®. Digital leaders harness Equinix’s trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties related to our taxation as a REIT and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

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SOURCE Equinix, Inc.

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