JM Financial has maintained its ‘Buy’ rating on Five-Star Business Finance Ltd., a Large Cap company operating in the NBFC sector. The company has a proven track record and a deep understanding of its customer segment. It has achieved robust AUM growth, fueled by healthy disbursements, and sustained profitability metrics. Five-Star’s RoA stands at 8.36% and RoE at 18.6%. With its unique positioning and customer-centric approach, the company is expected to maintain its growth trajectory and deliver on profitability and asset quality metrics. Five-Star Business Finance is valued at 4x FY26E BVPS, with a revised target price of INR 1020.0.