IIFL Finance
IIFL Finance
Financial ServicesKey Fundamentals
SmallcapNBFCFinancial ServicesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
3- Company has low interest coverage ratio.
- Company has a low return on equity of 11.5% over last 3 years.
- Dividend payout has been low at 6.30% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoIIFL Finance Ltd has a market cap of ₹27,514 Cr and trades at a PE of 12.3x with a price-to-book of 2x. The company reported strong TTM sales growth of 36% and a sharp TTM profit surge of 169%, though its 3-year ROE of roughly 12% and low dividend payout of 6.3% reflect moderate capital return to shareholders.
- TTM revenue growth of 36% is significantly above the 5-year compounded sales CAGR of 18%, indicating accelerating topline momentum
- TTM profit growth of 169% suggests a sharp recovery or operating leverage kicking in after a period of muted 3-year profit CAGR of just 3%
- PE of 12.3x is relatively modest for a financial services company delivering 36% revenue growth, suggesting the stock may not be pricing in the recent acceleration
- 5-year and 10-year stock CAGR of 18% each demonstrates consistent long-term wealth creation for shareholders
- 1-year stock return of 46% reflects strong recent market confidence in the business turnaround or growth trajectory
- 10-year compounded sales CAGR of 13% and profit CAGR of 12% show the company has sustained double-digit growth over a full business cycle
- Company is expected to deliver a good upcoming quarter, which could sustain the recent earnings momentum
- Price-to-book of 2x is reasonable for a financial services firm with improving profitability metrics and 5-year ROE averaging 14%
- 3-year ROE of approximately 12% and last year ROE of 13% remain below the 15%+ threshold typically expected of well-run NBFCs, indicating suboptimal capital efficiency
- Low interest coverage ratio flags vulnerability to rising interest rate environments and potential stress on debt servicing ability
- Dividend payout of just 6.3% of profits over the last 3 years offers minimal income return to shareholders, with current yield at only 0.61%
- 3-year compounded profit CAGR of only 3% contrasts sharply with the TTM 169% surge, raising questions about whether the recent jump is sustainable or driven by one-off items
- 3-year stock CAGR of just 3% despite 5-year and 10-year CAGRs of 18% suggests a prolonged period of underperformance or business disruption in the recent past
- Debt-to-equity ratio is not disclosed, which limits visibility into the company's leverage position — a critical metric for any lending business
- 52-week high and low data are unavailable, making it difficult to assess where the stock sits relative to its recent trading range
- EPS data is unavailable, reducing transparency on per-share earnings power and making peer comparison harder
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- ₹963Cr tax demand on Home Finance Aug 25
IIFL Home Finance received a ₹963.39 crore income tax demand for the block period Apr 2018–Feb 2025, causing shares to drop ~8%. Parent IIFL Finance also faces a separate ₹475.56 crore demand (stay granted until Dec 31, 2026).
- Fairfax stake exit overhang Sep 7
Fairfax sold 1.49% stake for ₹374 crore in July, reducing holding to ~13.69%. Reports suggest a full exit to fund its ~₹53,000 crore IDBI Bank acquisition, with Blackstone among potential buyers for up to 20% stake.
- GNPA ticks up sequentially Sep 7
Gross NPAs rose 9 bps QoQ to 1.6% and net NPAs to 0.8% in Q1FY27, signaling mild sequential asset quality pressure despite a 94% provision coverage ratio.
- Two senior executives resign Sep 11
Head of Legal Binay Kumar Mishra and LAP Business Head Vinay Agarwal both resigned on Sep 11, citing desire to explore new opportunities.
- Q1FY27 PAT surges 189% YoY Sep 7
Consolidated net profit rose 189.3% YoY to ₹675.1 crore in Q1FY27, with total income up 34% to ₹2,202.4 crore, PBT up 161%, and AUM at ₹1,15,523 crore (up 38% YoY).
- JPMorgan initiates at Overweight Aug 18
JPMorgan set a ₹750 target (18% upside) on IIFL Finance, citing gold loans' structural growth potential from 5% of system credit in FY26 to ~10% in five years.
- Fitch upgrades IDR to BB- Aug 18
Fitch upgraded IIFL Finance's long-term Issuer Default Rating to BB- from B+ with stable outlook on Aug 17, citing rebounded loan growth and stabilized asset quality post gold-loan restriction lift.
- BofA Overweight on IIFL bonds Aug 25
BofA retained Overweight on IIFL Finance bonds, noting 38% YoY AUM growth led by gold loans and normalized credit costs, with the ongoing tax matter deemed manageable.
- Stock hits new high, up 68% Aug 18
Shares surged 8% to a new high of ₹687.10, recovering 68% from the 52-week low of ₹409.45 hit on Apr 27, with trading volumes jumping over 8x.
- Active NCD fundraising program Sep 2
IIFL Finance raised ₹475 crore across three NCD issuances (₹350Cr at 9.25%, ₹100Cr at 9.35%, ₹25Cr at 9.10%) in early September, demonstrating continued debt market access.
- Independent director tenure ends Sep 5
Ramakrishnan Subramanian ceased to be Independent Director effective Sep 5, 2026, upon completion of his tenure.
- IIFL Capital's sector rotation view Sep 10
IIFL Capital's GV Giri is bearish on IT (expects lower lows), bullish on metals driven by defence spending, energy transition, and data centres — a sector-level view, not company-specific.
- Denies undisclosed price-moving events Sep 9
IIFL Finance issued clarifications on Sep 7 and Sep 9 denying any undisclosed events behind recent share price movements, addressing Fairfax exit speculation.
TL;DR: IIFL Finance delivered a strong Q1FY27 with 189% YoY profit growth, 38% AUM growth, and ROE of 19.5%, earning fresh coverage from JPMorgan (₹750 target) and a Fitch upgrade to BB-. Key risks center on the ₹963 crore tax demand on its Home Finance subsidiary and the overhang from Fairfax's potential full stake exit tied to IDBI Bank. The company's pivot to ~90% secured lending led by gold loans positions it well structurally, but resolution of the tax dispute (expected 6–12 months) and clarity on the Fairfax stake transition will be near-term sentiment drivers.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,301 | 2,478 | 2,649 | 2,854 | 2,621 | 2,556 | 2,443 | 2,591 | 2,953 | 3,305 | 3,427 | 3,692 | 3,919 |
| Expenses | 822 | 877 | 948 | 1,255 | 1,109 | 1,105 | 1,307 | 1,065 | 1,267 | 1,323 | 1,280 | 1,194 | 1,211 |
| Financing Profit | 591 | 670 | 715 | 536 | 470 | 488 | 140 | 357 | 397 | 600 | 710 | 889 | 989 |
| Fin. Margin % | 26% | 27% | 27% | 19% | 18% | 19% | 6% | 14% | 13% | 18% | 21% | 24% | 25% |
| Other Income | 69 | 57 | 46 | 68 | 12 | -582 | 6 | 3 | 6 | 4 | 5 | 7 | 3 |
| Interest | 888 | 932 | 985 | 1,063 | 1,042 | 963 | 996 | 1,169 | 1,289 | 1,382 | 1,437 | 1,610 | 1,719 |
| Depreciation | 42 | 43 | 45 | 50 | 46 | 46 | 46 | 51 | 47 | 47 | 53 | 64 | 63 |
| PBT | 618 | 684 | 716 | 554 | 436 | -140 | 101 | 309 | 356 | 557 | 663 | 833 | 929 |
| Tax % | 24% | 23% | 24% | 22% | 22% | -33% | 19% | 19% | 23% | 25% | 24% | 25% | 23% |
| Net Profit | 473 | 526 | 545 | 431 | 338 | -93 | 82 | 251 | 274 | 418 | 501 | 623 | 713 |
| EPS in Rs | 10.06 | 11.2 | 11.58 | 8.81 | 6.79 | -3.72 | 0.96 | 4.89 | 5.49 | 8.86 | 10.92 | 13.8 | 15.87 |
| Gross NPA % | 1.84% | 1.84% | 1.71% | 2.32% | 2.25% | 2.35% | 2.42% | 2.23% | 2.34% | 2.14% | 1.6% | 1.46% | 1.55% |
| Net NPA % | 1.06% | 1.02% | 0.87% | 1.2% | 1.11% | 1.06% | 1.01% | 1.05% | 1.13% | 1.02% | 0.75% | 0.73% | 0.82% |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,551 | 3,952 | 3,163 | 6,405 | 4,978 | 4,847 | 5,968 | 6,991 | 8,444 | 10,472 | 10,233 | 13,366 | 14,344 |
| Expenses | 1,319 | 1,362 | 689 | 2,221 | 1,435 | 1,682 | 2,239 | 2,355 | 2,936 | 3,842 | 4,559 | 5,018 | 5,008 |
| Financing Profit | 787 | 900 | 689 | 1,454 | 950 | 752 | 1,090 | 1,625 | 2,263 | 2,734 | 1,478 | 2,612 | 3,188 |
| Fin. Margin % | 22% | 23% | 22% | 23% | 19% | 16% | 18% | 23% | 27% | 26% | 14% | 20% | 22% |
| Other Income | -4 | 8 | 375 | 61 | 212 | 79 | 20 | 32 | 2 | 18 | -583 | 7 | 19 |
| Interest | 1,445 | 1,690 | 1,786 | 2,730 | 2,593 | 2,413 | 2,638 | 3,011 | 3,245 | 3,896 | 4,196 | 5,736 | 6,148 |
| Depreciation | 59 | 66 | 16 | 67 | 32 | 106 | 106 | 122 | 153 | 181 | 189 | 211 | 226 |
| PBT | 724 | 843 | 1,048 | 1,448 | 1,130 | 725 | 1,005 | 1,536 | 2,113 | 2,572 | 707 | 2,409 | 2,981 |
| Tax % | 34% | 34% | 22% | 30% | 30% | 31% | 24% | 23% | 24% | 23% | 18% | 25% | — |
| Net Profit | 476 | 555 | 822 | 1,021 | 796 | 503 | 761 | 1,188 | 1,608 | 1,974 | 578 | 1,817 | 2,256 |
| EPS in Rs | 12.98 | 14.53 | 19.42 | 22.42 | 22.4 | 11.94 | 18.06 | 28.16 | 35.49 | 41.6 | 8.92 | 39.05 | 49.45 |
| Div. Payout % | 21% | 26% | 21% | 20% | 20% | 17% | 15% | 11% | 10% | 9% | 0% | 10% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 62 | 63 | 64 | 64 | 64 | 76 | 76 | 76 | 76 | 76 | 85 | 85 |
| Reserves | 2,496 | 3,289 | 4,318 | 4,679 | 4,290 | 4,684 | 5,312 | 6,388 | 8,916 | 10,561 | 12,327 | 13,835 |
| Borrowing | 14,639 | 15,948 | 24,330 | 34,326 | 26,517 | 27,996 | 32,583 | 36,086 | 40,017 | 47,136 | 51,068 | 69,176 |
| Other Liabilities | 2,221 | 3,566 | 5,049 | 5,426 | 2,368 | 1,617 | 2,696 | 3,360 | 3,993 | 4,630 | 4,164 | 5,891 |
| Total Liabilities | 19,418 | 22,866 | 33,761 | 44,495 | 33,239 | 34,373 | 40,667 | 45,910 | 53,002 | 62,403 | 67,644 | 88,987 |
| Fixed Assets | 500 | 533 | 656 | 871 | 369 | 607 | 675 | 775 | 862 | 905 | 1,487 | 1,514 |
| CWIP | 10 | 6 | 71 | 110 | 7 | 2 | 7 | 6 | 28 | 52 | 23 | 6 |
| Investments | 1,283 | 1,867 | 4,153 | 2,150 | 212 | 770 | 32 | 1,192 | 3,511 | 4,059 | 4,438 | 6,092 |
| Other Assets | 17,624 | 20,461 | 28,881 | 41,365 | 32,651 | 32,994 | 39,954 | 43,937 | 48,602 | 57,387 | 61,696 | 81,375 |
| Total Assets | 19,418 | 22,866 | 33,761 | 44,495 | 33,239 | 34,373 | 40,667 | 45,910 | 53,002 | 62,403 | 67,644 | 88,987 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -2,126 | -54 | -4,329 | -10,483 | 422 | 1,101 | -3,587 | 1,784 | -5,225 | -8,716 | -4,781 | -13,976 |
| Investing | -361 | -671 | -2,602 | -374 | 562 | -919 | 236 | -996 | -2,716 | 468 | -1,149 | -2,606 |
| Financing | 2,904 | 525 | 9,094 | 8,468 | 20 | 109 | 4,428 | 2,781 | 5,361 | 7,088 | 5,526 | 17,843 |
| Net Cash Flow | 417 | -200 | 2,162 | -2,389 | 1,004 | 290 | 1,077 | 3,569 | -2,580 | -1,160 | -403 | 1,262 |
| Free Cash Flow | -2,211 | -131 | -4,343 | -10,654 | 355 | 1,052 | -3,621 | 1,684 | -5,484 | -8,804 | -4,839 | -14,056 |
| CFO/OP | -83 | 8 | -165 | -237 | 20 | 42 | -88 | 45 | -90 | -121 | -77 | -162 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 19% | 17% | 18% | 17% | 16% | 11% | 15% | 20% | 19% | 18% | 5% | 13% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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58 extracted metrics + investor summaries across FY06–FY27.
Documents
Frequently Asked Questions about IIFL Finance
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Company Information
IIFL Finance Ltd is a diversified NBFC in India engaged in the business of loans and mortgages along with its subsidiaries. It offers offering diversified loan products, including home, gold, MSME, microfinance, and capital market finance.[1]
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