IIFL Finance Limited (IIFL)

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IIFL Finance Limited (IIFL) · mywealthgrid

About

IIFL Finance Limited is a mid-cap NBFC (Non-Banking Financial Company) providing lending and financial services in India, with a market capitalisation of ₹26,842.81 Cr. The company maintains high operating margins (62.27% on average) and has delivered 38.88% shareholder returns over the past 12 months. Trading at a PE of 12.77 relative to an ROE of 12.61%, IIFL operates as a profitable mid-tier player in India's shadow-banking sector.

Face value: ₹2

Market cap

₹24,829 Cr

P/E

11.8×

P/B

1.8×

Dividend yield

0.7%

ROE

12.6%

ROCE

—

Debt / equity

4.97

OPM

62.3%

EPS (TTM)

₹49.4

Book value

₹327.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin improved from 59.96% (Sep 2025) to 69.1% (Jun 2026), a 9-point gain; verify whether this reflects genuine operational improvement or temporary cost reduction / favorable mix.
Leverage position not disclosed: D/E ratio is n/a; for NBFCs, balance-sheet health depends on debt levels and asset quality—verify capital adequacy, loan-loss provisions, and risk profile.
FII holdings declined from 28.16% (Mar 2026) to 23.86% (Jun 2026), a 4.3-point decrease; confirm whether this indicates reduced foreign investor confidence or normal portfolio rebalancing.
Credit risk inherent to NBFC lending; verify gross and net NPA trends and whether loan portfolio is concentrated in cyclical segments vulnerable to slowdown.

Generated analysis · source review pending

Growth drivers

Consolidated revenue rose from ₹3,305 Cr (Sep 2025) to ₹3,919 Cr (Jun 2026); verify whether growth reflects increased lending volumes or pricing improvement.
Net profit grew from ₹418 Cr (Sep 2025) to ₹713 Cr (Jun 2026); verify whether profit growth trajectory can be maintained.
Operating margin improved from 59.96% (Sep 2025) to 69.1% (Jun 2026); research if this reflects cost discipline or favorable lending mix.
Dividend payouts since 2021 indicate stable cash generation; verify payout ratios to assess capital available for growth investments.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹583.8-3.9%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 62.3%
+Profit CAGR of 16.9% over the last 5 years
+Revenue CAGR of 18% over the last 5 years

Cons

−Low return on equity of 10.9% (3-yr avg)
−Heavily leveraged (debt/equity 5)
−Weak interest coverage of 1.4×
−Low dividend payout of 8.1% of profit
−Low promoter holding of 24.9%

Research score

Structured signal from quality, growth, valuation and momentum.

64/100

Business quality: 33
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Shriram Finance LimitedSHRIRAMFINSHRIRAMFIN	₹1,77,811 Cr	₹4,28,503 Cr	₹49,997 Cr	₹36,981 Cr	73.7%	₹11,318 Cr	20.8%	—	16.4%	—
Tata Capital LimitedTATACAPTATACAP	₹1,35,540 Cr	₹3,71,517 Cr	₹32,695 Cr	₹24,219 Cr	73.2%	₹5,404 Cr	15.5%	—	13.3%	—
Cholamandalam Investment And Finance Company LimitedCHOLAFINCHOLAFIN	₹1,33,352 Cr	₹3,45,452 Cr	₹32,663 Cr	₹22,399 Cr	68.2%	₹5,751 Cr	16.8%	—	19.3%	—
Muthoot Finance LimitedMUTHOOTFINMUTHOOTFIN	₹1,08,289 Cr	₹2,60,075 Cr	₹33,431 Cr	₹27,558 Cr	81.4%	₹11,373 Cr	34%	—	30.9%	—
L&T Finance LimitedLTFLTF	₹66,238 Cr	₹1,76,126 Cr	₹18,928 Cr	₹11,603 Cr	61.1%	₹3,226 Cr	16.7%	—	11.2%	—
Sbi Cards And Payment Services LimitedSBICARDSBICARD	₹53,594 Cr	₹97,658 Cr	₹20,063 Cr	₹5,374 Cr	26.7%	₹2,275 Cr	10.9%	—	14.7%	—
Hdb Financial Services LimitedHDBFSHDBFS	₹51,335 Cr	₹1,38,733 Cr	₹16,300 Cr	₹9,318 Cr	57.2%	₹2,176 Cr	13.4%	—	14.7%	—
Sundaram Finance LimitedSUNDARMFINSUNDARMFIN	₹48,838 Cr	₹1,18,475 Cr	₹10,104 Cr	₹7,957 Cr	78.3%	₹2,220 Cr	21%	—	14.7%	—
Piramal Finance LimitedPIRAMALFINPIRAMALFIN	₹45,868 Cr	₹1,25,857 Cr	₹11,852 Cr	₹7,051 Cr	59.5%	₹1,504 Cr	12.7%	—	5.3%	—
Authum Investment & Infrastructure LimitedAIILAIIL	₹45,797 Cr	₹49,133 Cr	₹2,863 Cr	₹2,451 Cr	88.2%	₹3,582 Cr	74%	—	13.1%	—
Mahindra & Mahindra Financial Services LimitedM&MFINM&MFIN	₹44,445 Cr	₹1,72,816 Cr	₹21,733 Cr	₹13,785 Cr	62.5%	₹3,253 Cr	13.6%	—	11.9%	—
Poonawalla Fincorp LimitedPOONAWALLAPOONAWALLA	₹38,161 Cr	₹86,259 Cr	₹7,813 Cr	₹4,291 Cr	52.7%	₹787 Cr	8%	—	5.9%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,138	6,319	4,988	4,739	5,840	6,836	8,259	10,249	10,211	13,351
Interest	1,779	2,722	2,586	2,397	2,626	2,991	3,222	3,883	4,170	5,717
Expenses	695	2,290	1,485	1,593	2,253	2,358	2,960	3,855	4,585	5,037
Financing profit	663	1,306	918	749	961	1,488	2,077	2,512	1,456	2,596
Financing margin %	21.1%	20.7%	18.4%	15.8%	16.5%	21.8%	25.2%	24.5%	14.3%	19.5%
Other income	26	147	107	82	150	170	188	241	26	23
Depreciation	16	—	—	106	105	122	153	181	189	211
Exceptional items	—	105	3	0	0	0	0	0	-587	0
Profit before tax	—	1,448	1,130	725	1,005	1,536	2,113	2,572	707	2,409
Tax	226	427	325	222	244	348	505	598	129	592
Tax %	—	29.5%	28.8%	30.6%	24.3%	22.6%	23.9%	23.2%	18.2%	24.6%
PAT	822	1,021	804	503	761	1,188	1,608	1,974	578	1,817
EPS (₹)	—	—	—	13.3	20.1	31.3	39.5	46.3	9.1	39.1
EPS adjusted (₹)	—	25	21.7	13.3	20.1	31.3	39.4	46.2	8.9	39.1
	—	—	—	17%	14.9%	11.2%	10.1%	8.6%	0%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	64	64	76	76	76	76	76	85	85
Reserves	3,993	4,679	4,684	5,312	6,388	10,126	10,561	12,327	13,835
Minority interest	—	—	—	6	6	—	1,419	1,543	1,699
	25,766	34,326	27,705	32,257	35,725	39,604	46,699	51,068	69,176
	4,884	5,426	1,909	3,017	3,715	3,195	3,666	2,621	4,264
Total equity & liabilities	34,707	44,495	34,373	40,667	45,910	53,001	62,421	67,644	89,059
	546	620	115	105	153	449	173	170	184
CWIP	69	110	2	7	6	27	52	22	6
Investments	3,689	2,150	770	32	1,192	3,511	4,059	4,438	6,092
	30,403	41,615	33,485	40,523	44,560	49,014	58,137	63,014	82,777
Total assets	34,707	44,495	34,373	40,667	45,910	53,001	62,421	67,644	89,059

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	70.2%	66.4%	61.4%	65.5%	64.2%	62.4%	55.1%	62.3%
EBIT margin %	70.2%	64.2%	59.6%	63.7%	62.3%	60.6%	53.2%	60.7%
PAT margin %	16.1%	10.6%	13%	17.4%	19.5%	19.3%	5.7%	13.6%
Working capital
Receivable days	19	2	12	10	—	—	—	—
Inventory days	—	—	0	0	0	0	0	0
Payable days	0	—	—	—	—	—	—	—
NWC days	—	—	—	—	—	—	—	—
Leverage
Current ratio	—	—	—	—	—	—	—	—
Debt to EBITDA	9.8	8.81	8.99	7.98	7.47	7.3	9.08	8.32
Debt to equity	7.24	5.82	5.99	5.53	3.88	4.39	4.11	4.97
Interest coverage	1.4	1.3	1.4	1.5	1.7	1.7	1.3	1.4
Asset turnover	0.11	0.14	0.14	0.15	0.16	0.16	0.15	0.15
Return ratios
Return on assets %	1.8%	1.5%	1.9%	2.6%	3%	3.2%	0.9%	2%
Return on capital employed %	—	—	—	—	—	—	—	—
Return on equity %	17%	10.6%	14.1%	18.4%	15.8%	18.6%	4.7%	13.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	24.81%	24.79%	24.78%	24.91%	24.91%	24.9%	24.89%	24.87%	24.87%	24.85%	24.85%	24.85%
	28.31%	31.27%	29.13%	30.31%	29.64%	27.79%	28.03%	26.62%	26.76%	27.76%	28.16%	23.86%
	7.31%	8.27%	8.61%	7.43%	6.24%	4.49%	5.53%	8.09%	9.13%	9.17%	7.09%	7.5%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	39.57%	35.67%	37.48%	37.35%	39.21%	42.82%	41.55%	40.42%	39.24%	38.22%	39.9%	43.79%
No. of shareholders	—	—	—	—	—	—	—	—	1,42,808	1,34,274	1,24,543	1,27,688

Promoter holding up 0.04 percentage points since Sep 2023.

55 deals · 16 Sept 2021 – 30 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Jul 2026	FIH MAURITIUS INVESTMENTS LTD	Bulk	NSE	Sell	63,39,355	₹590.00	₹374.02 Cr
30 Jul 2026	FIH MAURITIUS INVESTMENTS LTD	Block	NSE	Sell	63,39,355	₹590.00	₹374.02 Cr
30 Jul 2026	SMALLCAP WORLD FUND INC	Bulk	NSE	Buy	61,73,152	₹590.00	₹364.22 Cr
30 Jul 2026	SMALLCAP WORLD FUND INC	Block	NSE	Buy	61,73,152	₹590.00	₹364.22 Cr
30 Jul 2026	AMERICAN FUNDS INSURANCE SERIES GLOBAL SMALL CAPITALIZATION FUND	Block	NSE	Buy	1,66,203	₹590.00	₹9.81 Cr
30 Jan 2026	MORGAN STANLEY ASIA (SINGAPORE) PTE.	Block	BSE	Sell	17,00,000	₹532.40	₹90.51 Cr
30 Jan 2026	BOFA SECURITIES EUROPE SA	Block	BSE	Buy	17,00,000	₹532.40	₹90.51 Cr
20 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	30,76,892	₹544.61	₹167.57 Cr
20 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	30,76,892	₹544.81	₹167.63 Cr
22 Dec 2023	FIH MAURITIUS INVESTMENTS LTD	Bulk	BSE	Sell	2,16,02,000	₹554.64	₹1,198.13 Cr

1–10 of 55

1 / 6

Mr. Bibhu Prasad KanungoNon-Executive - Independent Director-Chairperson
Mr. Nirmal Bhanwarlal JainExecutive Director-MD
Mr. Pranav DholakiaChief Risk Officer
Mr. Venkataraman RajamaniExecutive Director-MD
Mr. Ramakrishnan SubramanianNon-Executive - Independent Director
Mr. T S RamakrishnanNon-Executive - Nominee Director
Mr. Nihar Niranjan JambusariaNon-Executive - Independent Director
Mr. Bijou KurienNon-Executive - Independent Director
Mr. Gopalakrishnan SoundarajanNon-Executive - Non Independent Director
Ms. Nirma Anil BhandariNon-Executive - Independent Director
Mr. Rahul SanklechaChief Risk Officer

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 10 fund houses

Held by these funds

0.68%

of the company's equity

All mutual funds

3.65%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

36 schemes · 10 fund houses

		Shares
Flexi CapNEW	360 ONE Mutual Fund	8.02 L	51.84	2.3%	0.188%	—
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	3.71 L	23.97	0.68%	0.087%	+4,532
NIFTY SMALLCAP 50 INDEX FUND	Axis Mutual Fund	2.21 L	14.29	1.82%	0.052%	+8,946
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	1.88 L	12.18	0.68%	0.044%	+2,107
(LIVE SCHEMES)	ITI Mutual Fund	1.78 L	11.51	1.58%	0.042%	-12,075
(LIVE SCHEMES)	ITI Mutual Fund	1.63 L	10.53	2.27%	0.038%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.37 L	8.83	0.68%	0.032%	+1,240
(LIVE SCHEMES)	ITI Mutual Fund	1.16 L	7.53	1.94%	0.027%	-24,304

1–8 of 36

1 / 5

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

19

Interim dividend29 Jan 2026 · ex-date₹4
Interim dividend25 Jan 2024 · ex-date₹4
Interim dividend7 Feb 2023 · ex-date₹4
Interim dividend3 Feb 2022 · ex-date₹3.5
Interim dividend4 Feb 2021 · ex-date₹3
Interim dividend19 Mar 2020 · ex-date₹2.25
Interim dividend6 Feb 2019 · ex-date₹5
Interim dividend7 Feb 2018 · ex-date₹5
Interim dividend2 Feb 2017 · ex-date₹4.5
Interim dividend5 Feb 2016 · ex-date₹4.25
Interim dividend23 Sept 2014 · ex-date₹3
Interim dividend3 Feb 2014 · ex-date₹3
Interim dividend4 Feb 2013 · ex-date₹3
Interim dividend18 May 2012 · ex-date₹1.5
Interim dividend7 Mar 2011 · ex-date₹3
Interim dividend25 Jan 2010 · ex-date₹1.8
Interim dividend17 Aug 2009 · ex-date₹1.2
Interim dividend29 Jan 2009 · ex-date₹2.8
Dividend dividend26 Jun 2008 · ex-date₹6

1

Board meeting to consider results22 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

41 announcementsExport CSV

30 Sept 2026, 9:18 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	70.2%	66.4%	61.4%	65.5%	64.2%	62.4%	55.1%	62.3%
EBIT margin %	70.2%	64.2%	59.6%	63.7%	62.3%	60.6%	53.2%	60.7%
PAT margin %	16.1%	10.6%	13%	17.4%	19.5%	19.3%	5.7%	13.6%
Working capital
Receivable days	19	2	12	10	—	—	—	—
Inventory days	—	—	0	0	0	0	0	0
Payable days	0	—	—	—	—	—	—	—
NWC days	—	—	—	—	—	—	—	—
Leverage
Current ratio	—	—	—	—	—	—	—	—
Debt to EBITDA	9.8	8.81	8.99	7.98	7.47	7.3	9.08	8.32
Debt to equity	7.24	5.82	5.99	5.53	3.88	4.39	4.11	4.97
Interest coverage	1.4	1.3	1.4	1.5	1.7	1.7	1.3	1.4
Asset turnover	0.11	0.14	0.14	0.15	0.16	0.16	0.15	0.15
Return ratios
Return on assets %	1.8%	1.5%	1.9%	2.6%	3%	3.2%	0.9%	2%
Return on capital employed %	—	—	—	—	—	—	—	—
Return on equity %	17%	10.6%	14.1%	18.4%	15.8%	18.6%	4.7%	13.1%

Date	Category	Subject	Filing
30 Sept 2026, 9:18 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
30 Sept 2026, 12:15 pm	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment	PDF
21 Sept 2026, 12:33 pm	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment	PDF
17 Sept 2026, 1:27 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
11 Sept 2026, 8:21 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
10 Sept 2026, 1:44 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
9 Sept 2026, 1:10 pm	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment	PDF
9 Sept 2026, 10:42 am	Others	Rumour verification - Regulation 30(11)	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-54	-2,363	55	8	-3,591	1,784	-4,941	-5,848	-4,781	-13,976
	-671	-2,552	177	149	211	-996	-2,730	-1,356	-1,149	-2,606
	525	7,133	-217	-158	4,430	2,781	5,090	6,042	5,526	17,843
Net cash flow	-200	2,217	—	—	1,050	3,569	-2,581	-1,162	-403	1,262
Free cash flow	—	—	—	—	-3,627	1,683	-5,202	-6,116	-4,842	-14,057
CFO / Operating profit %	—	-96.8%	1.4%	0.2%	-100.1%	39.8%	-93.2%	-91.5%	-85%	-168.1%

IIFL Finance Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

19

1

Announcements

Not in the F&O segment

19

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

IIFL Finance Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends19

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Dividends19

Board meetings1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

19

1

19

1