Five Start Business Finance Limited (FSBFL) is registered Non-Banking Finance Company (NBFC-ND-SI) with the RBI. It is in the business of providing secured financial solutions to micro entrepreneurs and self-employed individuals who are largely ignored by the formal financial ecosystem. It only provides secured loans which ensures robust asset quality, even during difficult times.
The company operates 300 branches across 8 states and 1 union territory and has a borrower base of over 2 lakh customers as on March 31, 2022.

Branches: The number of branches as at the end of March 2022 was at 300 as against 262 as at March 2021. Major presence is in the southern region of India (255 branches shared between TN, KA, AP, TS) followed by central India (44 branches between MP, MH & CH) & a sole branch in UP.
Portfolio growth: Five Star’s Consolidated AUM1 increased from INR 4,445 crores in FY2021 to INR 5,067 crores in FY2022, which translates to a growth of about 14% for the year.
Loan disbursals: During the year, the company disbursed an amount of about INR 1,756 crores as against INR 1,245 crores in the previous year.

Gross Income of the company during the financial year ended March 31, 2022, amounted to INR 1,256.17 crores, higher by 19.5% over INR 1,051.25 crores in the previous year. Profit before tax was at INR 604.21 crores up by 26.82% over the previous year’s INR 476.44 crores. At INR 453.54 crores, Profit After Tax was higher by 26.34% over previous year’s INR 358.99 crores. The Company’s net worth stood at INR 3,710.35 crores as on March 31, 2022 (INR 2,318.17 Crores as at March 31, 2021).

Capital Adequacy Ratio of your Company as at March 31, 2022 at 75.20%, as against the minimum requirement of 15% stipulated by Reserve Bank of India

The ratings of the company were upgraded by both ICRA and CARE Ratings during the financial year ended March 31, 2022 to A+/A1+ from A/A1.

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Financials (INR Crores)

DESCRIPTION Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Mar-17
Gross Sales 1254.06 1049.74 786.71 408.91 196.29 83.08
PBT 604.21 476.44 349.30 218.44 75.65 30.78
PAT 453.55 358.99 261.95 156.66 54.24 19.37
Cash Flow from Operations -277.16 -157.27 -1523.28 -951.13 -456.62 -260.84
Cash Flow from Investing -383.89 102.14 -131.93 14.22 10.50 1.07
Cash Flow from Financing 7.02 1032.53 1725.34 1025.19 392.68 437.12
Debt to Equity 0.70 1.49 1.22 0.71 0.90 2.01
EPS 15.57 139.99 102.40 65.55 28.30 13.58

Face value is of INR 1/ each.


The funding of the Company, both on equity and debt sides, was very encouraging during the financial year ended March 31, 2022. FSBFL was able raised a fresh round of equity capital during the first quarter of the financial year by adding marquee names like KKR and TVS Capital to its shareholder list.

. In addition to the 518 crores of capital raised through this round, It also gave an attractive exit to one of the earliest private equity investors-NHPEA Chocolate Holding B.V. (Morgan Stanley) as part of this fundraising round. FSBFL also onboarded new lenders like HDFC Bank, Axis Bank and HSBC who provided debt lines to the Company, which gives a strong testimony of the attractiveness of the Company and its metrics. In the year gone by, the company also consummated its first ECB transaction (External Commercial Borrowing) with Swedfund, the sovereign DFI of Sweden.

FSBFL rigorously monitors their interest rate model by evaluating cost of funds & risk premium, So that it can derive its income from the interest spread. The interest rate to be charged to potential borrowers depends on cost of funds, risk premium depending on customer risk category, operational expenses etc. The company uses multiple parameters in categorizing the customers into low, medium & high-risk categories. It also took necessary measures to bring down potential slippages into NPA. Amidst all these challenges, it enhanced its borrower & portfolio base during the year.

Key Managerial Personnel

Rangarajan Krishnan–Chief Executive Officer

Srikanth Gopalakrishnan–Chief Financial Officer

Lakshmipathy Deenadayalan–Chairman and MD


Investors: - Matrix Partners India, Norwest Venture Partners, Sequoia Capital, KKR, TPG Capital

Lenders – Aditya Birla Capital, AU Small Finance Bank, BOI, Bandhan Bank, Bank of Maharashtra, Bajaj Finserv, BOB, Chola, CSB Bank, DSB Bank, ICICI, Federal Bank, Tata Capital, Northern Arc

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