Financials Five-Star Business Finance Limited

Equities

FIVESTAR

INE128S01021

Consumer Lending

Market Closed - NSE India S.E. Other stock markets 07:43:48 2024-05-10 am EDT			5-day change	1st Jan Change
728.8 ^INR	+1.55%		-5.92%	-0.82%

May. 03	Nomura Adjusts Five-Start Business Finance’s Price Target to INR890 From INR880, Keeps at Buy	MT
May. 02	Transcript : Five-Star Business Finance Limited, Q4 2024 Earnings Call, May 02, 2024

Valuation

Fiscal Period: March	2023	2024	2025	2026
Capitalization ¹	157,513	213,152	-	-
Enterprise Value (EV) ¹	157,513	210,403	213,152	213,152
P/E ratio	26.4 x	25.3 x	20.1 x	16.1 x
Yield	-	0.29%	0.62%	0.91%
Capitalization / Revenue	12.5 x	12.2 x	9.53 x	7.5 x
EV / Revenue	12.5 x	12.2 x	9.53 x	7.5 x
EV / EBITDA	-	-	-	-
EV / FCF	-	-	-	-
FCF Yield	-	-	-	-
Price to Book	3.63 x	4.13 x	3.43 x	2.84 x
Nbr of stocks (in thousands)	291,366	292,449	-	-
Reference price ²	540.6	728.8	728.8	728.8
Announcement Date	5/9/23	4/30/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2022	2023	2024	2025	2026
Net sales ¹	-	12,627	17,266	22,372	28,417
EBITDA	-	-	-	-	-
EBIT ¹	-	8,249	11,713	15,131	18,989
Operating Margin	-	65.33%	67.84%	67.63%	66.82%
Earnings before Tax (EBT) ¹	-	8,047	11,159	14,254	17,967
Net income ¹	4,535	6,035	8,359	10,592	13,195
Net margin	-	47.79%	48.41%	47.35%	46.43%
EPS ²	15.92	20.49	28.39	36.35	45.16
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ²	-	-	2.150	4.500	6.600
Announcement Date	4/27/22	5/9/23	4/30/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	-	-	3,874	4,000	4,500	4,681
EBITDA	-	-	-	-	-	-
EBIT ¹	-	2,316	2,307	2,742	2,940	3,180
Operating Margin	-	-	59.54%	68.54%	65.33%	67.93%
Earnings before Tax (EBT) ¹	-	2,242	2,459	2,596	2,799	2,983
Net income ¹	1,510	1,689	1,837	1,926	2,085	2,262
Net margin	-	-	47.42%	48.14%	46.33%	48.32%
EPS ²	5.150	5.730	6.240	6.700	7.200	7.600
Dividend per Share	-	-	-	-	-	-
Announcement Date	1/28/23	5/9/23	7/29/23	-	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	-	15%	17%	18.6%	19.3%
ROA (Net income/ Total Assets)	-	8.02%	8.05%	7.95%	7.68%
Assets ¹	-	75,230	102,416	133,192	171,741
Book Value Per Share ²	-	149.0	177.0	213.0	257.0
Cash Flow per Share	-	-	-	-	-
Capex	-	-	-	-	-
Capex / Sales	-	-	-	-	-
Announcement Date	4/27/22	5/9/23	4/30/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Five-Star Business Finance Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

728.8 INR

Average target price

896.3 INR

Spread / Average Target

+22.98%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Consumer Leasing

	1st Jan change	Capi.
FIVE-STAR BUSINESS FINANCE LIMITED	-0.82%	2.55B
CREDIT ACCEPTANCE CORPORATION	-3.34%	6.24B
JIANGSU FINANCIAL LEASING CO., LTD.	+8.47%	3.18B
UPSTART HOLDINGS, INC.	-37.84%	2.23B
AEON THANA SINSAP (THAILAND)	+1.25%	1.1B
HAITONG UNITRUST INTERNATIONAL FINANCIAL LEASING CO., LTD.	+2.44%	885M
LATITUDE GROUP HOLDINGS LIMITED	-1.29%	789M
ESCAR FILO KIRALAMA HIZMETLERI	+90.59%	514M
ATLANTICUS HOLDINGS CORPORATION	-25.24%	428M
DIRECT FINANCE OF DIRECT GROUP (2006)LTD	+25.17%	415M

Consumer Leasing