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Il&Fs Investment Managers Limited (IVC) · mywealthgrid

Il&Fs Investment Managers Limited

NSE:IVC BSE:IVC

FinancialsCapital Markets

₹7.8

+0.13%1 Oct close

Mkt cap

₹245 Cr

Watch Alert Compare

About

Asset management company in Indian capital markets. ₹261.25 Cr market cap, regular dividends 2022–2025, minimal institutional backing (0% FII, 0.01% DII). Earnings highly volatile; average ROE 1.95%.

Face value: ₹2

Market cap

₹245 Cr

P/E

49.2×

P/B

1.3×

Dividend yield

15.4%

ROE

ROCE

—

Debt / equity

OPM

-2.8%

EPS (TTM)

₹0.2

Book value

₹6.1

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Earnings volatility extreme: quarterly net profit ₹27.82 Cr to -₹2.93 Cr; ROE 1.95%, multiple losses undermine dividend sustainability and forecast reliability
Operating margins persistently thin/negative (-2.79% avg, -68.95% to +15.2% range); structural cost pressure vs. revenue base
Zero-revenue quarters paired with non-zero profits flag earnings quality; verify income drivers and revenue recognition practices
Institutional investor absence (0% FII, 0.01% DII) signals governance/reputational concerns; constrains positioning vs. better-backed rivals

Generated analysis · source review pending

Growth drivers

Profitable quarters (₹27.82 Cr Sep 2025, ₹21.92 Cr Mar 2026) show income capability; verify drivers and repeatability
Dividends through 2025 show cash available; verify if sourced from earnings or reserves given volatility
D/E of 0 removes debt constraints and provides flexibility for investment or shareholder returns
Asset management market grows as Indian retail participation rises; verify company AUM, fee trends, market share capture

Generated analysis · source review pending

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

₹7.8+1.7%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Dividend yield of 15.4%

Cons

−Low return on equity of 4.6% (3-yr avg)
−Profit declined 13.3% a year over the last 5 years
−Modest revenue growth of 3.5% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 33
Growth: 50
Valuation: 57

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.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
ICICI Prudential Asset Management Company LimitedICICIAMCICICIAMC	₹1,52,462 Cr	₹1,52,462 Cr	₹5,765 Cr	₹4,294 Cr	74.5%	₹3,298 Cr	57.2%	—	85.8%	—
Sbi Funds Management LimitedSBIFUNDSSBIFUNDS	₹1,01,911 Cr	—	₹4,389 Cr	₹3,472 Cr	79.1%	₹3,067 Cr	69.9%	—	43%	—
Nippon Life India Asset Management LimitedNAM-INDIANAM-INDIA	₹66,871 Cr	₹66,871 Cr	₹2,869 Cr	₹1,915 Cr	66.3%	₹1,637 Cr	56.5%	—	34.5%	—
Aditya Birla Sun Life Amc LimitedABSLAMCABSLAMC	₹28,680 Cr	₹28,680 Cr	₹1,861 Cr	₹1,096 Cr	59.9%	₹1,007 Cr	52.9%	—	25.1%	—
Uti Asset Management Company LimitedUTIAMCUTIAMC	₹11,356 Cr	₹11,356 Cr	₹1,909 Cr	₹850 Cr	47.6%	₹461 Cr	27.8%	—	8.9%	—
Canara Robeco Asset Management Company LimitedCRAMCCRAMC	₹4,317 Cr	—	₹102 Cr	₹69 Cr	67.9%	₹51 Cr	50.2%	—	—	—
Gaja Alternative Asset Management LimitedGAJAGAJA	₹1,907 Cr	₹1,949 Cr	₹136 Cr	₹72 Cr	53.2%	₹80 Cr	60.5%	16.8%	16%	—
Shriram Asset Management Company LtdSRAMSETSRAMSET	₹437 Cr	—	₹1 Cr	₹-5 Cr	-62.3%	₹-2 Cr	-86.4%	—	-8.8%	—
Il&Fs Investment Managers LimitedIVCIVC	₹245 Cr	₹245 Cr	₹57 Cr	₹-1 Cr	-2.8%	₹5 Cr	8.7%	—	2%	—

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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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	46	42	64	52	29	55
	68	48	42	57	51	32	56
	-31	-2	-0	8	1	-3	-1
OPM %	-86.4%	-5%	-0.7%	11.7%	2.6%	-9.2%	-2.6%
Depreciation	1	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0
	12	12	16	11	14	18	11
Profit before tax	-20	10	15	22	16	15	9
Tax	-0	0	2	5	4	0	4
Tax %	-0.9%	2.8%	14.1%	21.4%	22.8%	2.7%	46.8%
	-20	10	13	17	12	14	5
PAT margin %	-54%	20.8%	31.5%	26.4%	23.2%	49%	8.7%
EPS (₹)	-0.4	0.5	0.3	0.4	0.3	0.4	0.1
EPS adjusted (₹)	-0.4	0.3	0.3	0.4	0.4	0.4	0.1
	—	60%	160%	210.5%	218.8%	66.7%	1,000%
Annual report	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	—

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	63	63	63	63	63	63	63	63	63
Reserves	208	177	160	147	148	154	140	142	128
Minority interest	17	18	12	14	19	20	20	21	21
	—	—	—	0	0	0	0	0	0
	46	40	28	26	25	30	27	13	32
Total equity & liabilities	334	297	263	250	255	267	249	239	244
	20	1	1	0	0	0	0	0	0
CWIP	—	—	—	—	—	—	0	0	0
Investments	104	85	62	41	32	71	62	50	77
	211	212	200	208	223	195	187	189	166
Total assets	334	297	263	250	255	267	249	239	244

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-4	75	-23	11	6	-0	-6	-9	21
	-10	-51	34	-6	-15	-36	28	19	-5
	-20	-20	-10	-19	-9	-16	-28	-22	-26
Net cash flow	—	—	—	-14	-18	-53	-5	-11	-9
Free cash flow	—	—	—	11	6	-1	-6	-9	21
CFO / Operating profit %	—	—	—	—	—	-6.4%	-451.9%	—	—

Compounded sales growth

7 years: —
5 years: 4%
3 years: -5%
1 year: 89%

Compounded profit growth

7 years: —
5 years: -13%
3 years: -34%
1 year: -66%

Return on equity

7 years: 3%
5 years: 5%
3 years: 5%
Last year: 2%

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—
EBITDA margin %	-49.9%	-4.9%	-0.6%	11.7%	2.6%	-9.6%	-2.8%
EBIT margin %	-51.6%	-5.6%	-1.1%	11.4%	2.1%	-10.5%	-3.1%
PAT margin %	-54%	20.8%	31.5%	26.4%	23.2%	49%	8.7%
Working capital
Receivable days	100	94	79	97	—	—	—
Inventory days	—	0	0	0	0	0	0
Payable days	1	57	63	62	—	—	—
NWC days	—	36	16	35	—	—	—
Leverage
Current ratio	—	30.43	32.76	24.86	—	—	—
Debt to EBITDA	—	—	—	0	0	—	—
Debt to equity	—	0	0	0	0	0	0
Interest coverage	—	—	—	—	—	—	—
Asset turnover	0.14	0.18	0.16	0.24	0.21	0.12	0.23
Return ratios
Return on assets %	-7.5%	3.8%	5.1%	6.4%	4.8%	5.9%	2%
Return on capital employed %	—	4.1%	6.3%	7.3%	—	—	—
Return on equity %	-8.8%	4.6%	6.2%	7.9%	6%	6.9%	2.5%

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
	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%	50.42%
	0%	0.01%	0%	0.38%	0%	0.02%	0%	0.06%	0%	0.04%	0%	0%
DII	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	49.57%	49.56%	49.57%	49.19%	49.57%	49.55%	49.57%	49.51%	49.57%	49.53%	49.57%	49.57%
No. of shareholders	—	—	—	—	—	—	—	—	1,03,650	1,04,087	1,02,901	1,01,714

Promoter holding up 0 percentage points since Sep 2023.

10 deals · 15 Sept 2022 – 26 Jul 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
26 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	16,46,204	₹17.60	₹2.90 Cr
26 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	16,46,204	₹17.48	₹2.88 Cr
18 Dec 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	16,14,487	₹13.65	₹2.20 Cr
18 Dec 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	16,14,487	₹13.60	₹2.20 Cr
15 Dec 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	17,18,460	₹12.87	₹2.21 Cr
15 Dec 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	17,18,460	₹12.83	₹2.20 Cr
16 Sept 2022	VEENA RAJESH SHAH	Bulk	NSE	Sell	21,24,394	₹9.56	₹2.03 Cr
16 Sept 2022	VEENA RAJESH SHAH	Bulk	NSE	Buy	21,24,394	₹9.62	₹2.04 Cr
15 Sept 2022	VEENA RAJESH SHAH	Bulk	NSE	Sell	16,04,478	₹9.15	₹1.47 Cr
15 Sept 2022	VEENA RAJESH SHAH	Bulk	NSE	Buy	16,04,478	₹8.75	₹1.40 Cr

1–10 of 10

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Chitranjan Singh KahlonNon-Executive - Independent Director-Chairperson-Shareholder Director
Mr. Munish Kumar SaraogiNon-Executive - Independent Director-Shareholder Director
Ms. Priya Prempal ShettyNon-Executive - Non Independent Director
Ms. Lubna Ahmad UsmanExecutive Director-CEO
Mr. Gaurav KhungarNon-Executive - Non Independent Director
Ms. Jayashree RamaswamyNon-Executive - Non Independent Director
Mr. Prasad Prakash ChaojiCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Fund holders

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

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Il&Fs Investment Managers Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

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

Announcements

Annual reports

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

Loading documents…

Events

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

21

Final dividend15 Sept 2026 · ex-date₹0.7
Interim dividend21 Nov 2025 · ex-date₹0.5
Final dividend12 Sept 2025 · ex-date₹0.28
Final dividend23 Aug 2024 · ex-date₹0.7
Final dividend17 Aug 2023 · ex-date₹0.8
Final dividend29 Aug 2022 · ex-date₹0.4
Dividend dividend21 Sept 2021 · ex-date₹0.3
Final dividend2 Nov 2020 · ex-date₹0.6
Final dividend23 Sept 2019 · ex-date₹0.3
Dividend dividend20 Aug 2018 · ex-date₹0.6
Dividend dividend29 Aug 2017 · ex-date₹0.6
Dividend dividend29 Jul 2016 · ex-date₹1.2
Dividend dividend5 Aug 2015 · ex-date₹1.3
Dividend dividend30 Jul 2014 · ex-date₹1.3
Dividend dividend8 Jul 2013 · ex-date₹1.5
Dividend dividend10 Jul 2012 · ex-date₹1.5
Dividend dividend13 Jul 2011 · ex-date₹1.5
Dividend dividend2 Jul 2010 · ex-date₹1.5
Dividend dividend30 Jun 2009 · ex-date₹7
Dividend dividend18 Jun 2008 · ex-date₹5.5
Dividend dividend24 Aug 2007 · ex-date₹4

1

Board meeting to consider results13 Aug 2026

1

Face value ₹10 → ₹216 Sept 2009 · ex-date

1–3 of 4

1 / 2

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

68 announcementsExport CSV

28 Sept 2026, 3:59 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 1:27 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

27 Aug 2026, 2:58 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

27 Aug 2026, 2:45 pmCorp. Action

Corporate Action - Fixes Record Date For The Purpose Of Dividend And AGM

Record Date PDF

27 Aug 2026, 2:35 pmAGM/EGM

Shareholder''s Meeting - AGM On Sep 22, 2026

AGM PDF

21 Aug 2026, 11:27 amCompany Update

Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

Appointment of Statutory Auditor/s PDF

21 Aug 2026, 11:22 amOthers

Board Meeting Outcome for Appointment Of M/S C N K & Associates LLP As The Statutory Auditors Of The Company

Outcome without intimation PDF

18 Aug 2026, 2:13 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
28 Sept 2026, 3:59 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 1:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
27 Aug 2026, 2:58 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
27 Aug 2026, 2:45 pm	Corp. Action Record Date	Corporate Action - Fixes Record Date For The Purpose Of Dividend And AGM	PDF
27 Aug 2026, 2:35 pm	AGM/EGM AGM	Shareholder''s Meeting - AGM On Sep 22, 2026	PDF
21 Aug 2026, 11:27 am	Company Update Appointment of Statutory Auditor/s	Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s	PDF
21 Aug 2026, 11:22 am	Others Outcome without intimation	Board Meeting Outcome for Appointment Of M/S C N K & Associates LLP As The Statutory Auditors Of The Company	PDF
18 Aug 2026, 2:13 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

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Il&Fs Investment Managers Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends21

Board meetings1

Stock splits1

Announcements

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

No fund holdings on record

Announcements

Annual reports

Dividends21

Board meetings1

Stock splits1

21

1

1

21

1

1