Five Star Business Finance Unlisted Shares has come up with its annual report 2021 and same is available with UnlistedZone. Let us see how it has performed in the last one year. About Five Star Business Finance Unlisted Shares Five Star is a NBFC which provides Small Business loans and Small Mortgage loans to the eligible borrowers to meet their business and personal needs, after due underwriting of their cashflows and backed by the collateral of their house property. Business Highlights of Five Star Business Finance Unlisted Shares 1. Disbursal of about 1,250 Crores despite losing almost half of the year to COVID, which also resulted in the borrower base crossing 1,75,000 during the year. In FY20, the disbursement was 2409 Crores. So, disbursement fell by almost 50% due to covid-19. 2. The Company also saw its portfolio growing from about 3,900 Crores to almost 4,500 Crores, an increase of 14% in such a turbulent year. 3. Revenue has gone up from 787 Crores to 1051 Crores. 4. Growth in Profit after Tax (PAT) from about 260 Crores to about 360 Crores, an increase of about 37%. 5. Gross NPA of 1.02%, which is one of the best asset quality metrics across the financial services industry. 6. Currently, they have 262 branches PAN India. Valuation of Five-Star Business Finance? Seeing the robust performance of Five Star Business Finance even during the pandemic, some of the existing investors and a couple of new investors came together to infuse more capital and also give a complete exit to one of the early investors viz. Morgan Stanley. Five Star Business Finance was valued post money, at 1.4 billion dollars, making it a coveted ‘Unicorn”. The two new investors who have joined the race are viz. KKR and TVS Capital. As on 31.03.2021, Five Star Business Finance has Net-Worth of 2318 Crores and total outstanding shares of 2.564 Crores. Book Value = 905 per share Unlisted Market Price of Five Star Business Finance = 7500 P/B = 8.28x (which looks very stretched) Mcap = 19000 Crores. The NBFC is a top class, but the current valuation of the stock in unlisted market is highly overvalued. It was a good buy around Rs. 5000 but not now.