Five-Star Business Finance Ltd

- Five-Star Business Finance Limited raised $100 million from Asian Development Bank (ADB) during the quarter, with $50 million already drawn and $50 million available to draw over the next financial year. - The cost of funds for this borrowing was slightly higher due to hedging costs. - There was incremental debt availed amounting to INR 928 crores during the quarter at an all-inclusive cost of 8.53%. - No specific mention of planned future equity fundraises. - Management emphasized strong lender confidence, as evidenced by the ADB line and other borrowings. - The company is focusing on cost-effective, diversified funding through debt. - No explicit plans for new equity fundraising disclosed in this call.

- The company plans to continue branch expansion with 60 to 75 new branches in the current financial year, focusing on Tier 1 and Tier 2 cities in Maharashtra, Rajasthan, Gujarat, UP, and Chhattisgarh. - Earlier, 96 branches were opened in a tough lending period; now a smaller, focused expansion is planned to leverage existing infrastructure. - The branch network expansion aims to improve proximity to customers, reduce competition, and strengthen the foundation for growth. - No explicit mention of large-scale capital expenditure beyond branch expansion. - Investments in the collections vertical have been made to improve asset quality and recoveries. - No specific strategic investments or large capex beyond branch infrastructure and operational costs mentioned in the call.

- The company targets around 20% AUM growth for FY27, aiming to grow from approximately INR13,000 crores to about INR16,000 crores. - Management is confident of sustaining 18-20% growth for at least the next two to three years. - Pent-up demand and low base effects support this growth outlook. - Plans to open 60 to 75 new branches in FY27, focusing on Tier 1 and Tier 2 cities, especially in states like Maharashtra, Rajasthan, Gujarat, UP, and Chhattisgarh. - Disbursements are expected to increase to INR6,500 crores - INR7,000 crores in FY27, up from INR5,000 crores last year. - Growth targets are considered conservative; there is potential for higher growth if asset quality and credit cost metrics improve. - The company plans to leverage existing infrastructure built over the last 2-3 years to support growth.

- Management expects AUM growth of around 20% for FY27, with potential to exceed this as confidence improves. - Medium-term growth outlook (next 2-3 years) is around 18-20%, with possible upsides beyond 20% if asset quality and credit cost remain strong. - Disbursements for FY27 are targeted between INR 6,500 to 7,000 crores, reflecting pent-up demand and focus on quality customers. - PAT grew 2% for the full year FY26 despite challenges; strong collections and asset quality improvements expected to support earnings growth. - ROA guidance is 8.25%-8.5% for FY27, with steady-state levels around 8%-8.25%. ROE remains strong at about 16%. - Credit cost guided at 1.5%-1.6%, steady-state level, potentially improving with better customer profiles. - Operating expenses to assets ratio expected to remain stable around 7%-7.25% despite growth and investments. - Dividend declared at same level as last year, signaling confidence in steady profitability going forward.

The provided transcript from Five-Star Business Finance Limited's Q4 FY26 earnings call does not mention any details regarding the current or expected order book or pending orders. The discussion primarily focuses on: - Loan disbursement, growth strategies, and branch expansion plans. - Portfolio composition and ticket sizes (mainly INR 3-5 lakh range). - Asset quality, collection efficiency, and credit costs. - No information on order book, pending orders, or related commercial contracts is included. Therefore, no information about current or expected order book/pending orders is available in this document.