IFCI Ltd

₹ 63.0 -2.84%

21 Oct 12:39 p.m.

About

IFCI, previously known as Industrial Finance Corporation of India, is an Indian Government owned non banking finance company established to cater to the long-term finance needs of the industrial sector. ^[1]

Key Points

Business Overview:^[1] ^[2]
The company was established by the Government of India in 1948 as a development financial institution to provide long-term funding to the industrial sector. It was converted into a company in 1993 and renamed IFCI Limited in 1999. The company has financed projects across sectors such as airports, roads, telecom, power, real estate, manufacturing, and services.

Website BSE NSE

Market Cap ₹ 16,977 Cr.
Current Price ₹ 63.0
High / Low ₹ 108 / 46.2
Stock P/E 320
Book Value ₹ 6.63
Dividend Yield 0.00 %
ROCE 8.02 %
ROE 1.53 %
Face Value ₹ 10.0

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Pros

Debtor days have improved from 36.4 to 27.2 days.

Cons

Stock is trading at 9.61 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -8.39% over past five years.
Tax rate seems low
Company has a low return on equity of 4.79% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Financial Institution

Part of BSE 500 Nifty 500 Nifty Smallcap 100 BSE Financial Services BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE 1000 Nifty Smallcap 500 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty MidSmallcap400 50:50 Nifty Total Market BSE PSU Nifty MidSmallcap 400

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	76.61	165.86	214.74	382.89	122.38	159.73	194.56	222.68	155.51	177.78	298.80	265.11	102.64
Interest	139.94	142.78	143.81	146.22	134.39	136.06	131.79	134.95	102.61	107.03	104.45	101.98	103.61
	101.37	-282.73	41.11	-44.52	18.78	157.88	29.18	-297.53	42.27	63.99	182.29	149.47	-9.64
Financing Profit	-164.70	305.81	29.82	281.19	-30.79	-134.21	33.59	385.26	10.63	6.76	12.06	13.66	8.67
Financing Margin %	-214.98%	184.38%	13.89%	73.44%	-25.16%	-84.02%	17.26%	173.01%	6.84%	3.80%	4.04%	5.15%	8.45%
	0.76	0.74	0.96	53.37	0.81	140.90	0.77	0.02	25.35	0.83	0.30	0.40	22.75
Depreciation	6.02	6.04	6.05	6.05	6.05	6.06	6.03	6.07	6.05	6.08	6.04	6.27	6.06
Profit before tax	-169.96	300.51	24.73	328.51	-36.03	0.63	28.33	379.21	29.93	1.51	6.32	7.79	25.36
Tax %	-5.29%	72.12%	140.68%	34.40%	311.43%	3,522.22%	308.12%	28.13%	75.34%	-968.21%	-8.39%	-174.20%	65.93%
	-160.97	83.77	-10.06	215.51	-148.24	-21.56	-58.96	272.54	7.38	16.13	6.85	21.36	8.64
EPS in Rs	-0.73	0.38	-0.05	0.98	-0.57	-0.08	-0.23	1.01	0.03	0.06	0.03	0.08	0.03
Gross NPA %							96.21%	95.98%	96.05%	96.28%	96.31%
Net NPA %							82.67%	83.55%	79.78%	80.80%	81.10%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	3,269	3,839	2,774	3,712	2,340	2,252	1,393	760	747	841	841	899	844
Interest	2,102	2,517	2,289	2,074	1,756	1,416	1,119	923	631	573	537	416	417
	535	1,032	1,330	1,132	1,369	958	2,396	1,603	285	-185	-92	438	386
Financing Profit	632	290	-845	506	-784	-122	-2,122	-1,766	-169	453	396	45	41
Financing Margin %	19%	8%	-30%	14%	-34%	-5%	-152%	-232%	-23%	54%	47%	5%	5%
	77	168	100	28	126	12	4	4	7	55	0	25	24
Depreciation	-10	14	34	34	33	31	29	23	24	24	24	24	24
Profit before tax	718	443	-779	500	-691	-141	-2,147	-1,785	-186	484	372	46	41
Tax %	27%	24%	-41%	6%	-36%	97%	-9%	12%	55%	73%	88%	-14%
	522	337	-458	468	-444	-278	-1,958	-1,991	-288	128	44	52	53
EPS in Rs	3.14	2.03	-2.76	2.76	-2.62	-1.64	-10.33	-9.47	-1.31	0.58	0.16	0.19	0.20
Dividend Payout %	48%	49%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-14%
5 Years:	-8%
3 Years:	6%
TTM:	15%

Compounded Profit Growth
10 Years:	-21%
5 Years:	15%
3 Years:	28%
TTM:	-73%

Stock Price CAGR
10 Years:	9%
5 Years:	38%
3 Years:	40%
1 Year:	15%

Return on Equity
10 Years:	-16%
5 Years:	-34%
3 Years:	5%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	1,662	1,662	1,662	1,696	1,696	1,696	1,896	2,103	2,196	2,490	2,694	2,694
Reserves	5,220	5,277	4,804	3,022	2,529	2,412	476	-1,658	-1,570	-1,275	-959	-909
Borrowing	26,097	27,747	23,163	20,138	16,094	12,323	10,870	7,012	5,808	5,451	3,778	3,592
	1,989	2,215	2,045	2,148	1,936	1,998	2,058	1,613	2,496	3,343	3,872	4,687
Total Liabilities	34,968	36,900	31,674	27,005	22,256	18,429	15,300	9,070	8,930	10,008	9,386	10,064
	1,121	1,037	995	931	920	878	928	906	902	879	856	786
CWIP	0	0	1	0	0	0	0	0	0	0	0	0
Investments	7,590	8,188	6,394	6,686	4,829	3,235	4,294	2,944	2,277	2,909	2,426	2,000
	26,256	27,674	24,285	19,387	16,507	14,316	10,078	5,220	5,752	6,219	6,104	7,278
Total Assets	34,968	36,900	31,674	27,005	22,256	18,429	15,300	9,070	8,930	10,008	9,386	10,064

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	265	-64	385	-510	430	487	-623	-521	-483	32	-1,175	-67
	28	95	20	92	-2	-48	-78	0	-19	-0	78	69
	-399	-305	1	61	-225	200	200	100	500	500	500	0
Net Cash Flow	-106	-274	405	-357	203	638	-500	-421	-2	532	-596	3
Free Cash Flow	293	30	404	-478	442	502	-700	-522	-502	32	-1,176	3

Ratios

Standalone / View Consolidated

	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 %	7%	4%	-7%	8%	-10%	-7%	-60%	-141%	-54%	14%	3%	2%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Disbursements
Rs crore

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		xxx		xxx	xxx	xxx	xxx	xxx	xxx	x
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Loan Book (Gross Advances)
Rs crore

Gross NPA Ratio
%

NPA Recoveries
Rs crore

GoI Capital Infusion
Rs crore

Standard Loan Book (Net Stage 1 & 2)
Rs crore

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Shareholding Pattern

Numbers in percentages

18 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	70.32%	70.32%	71.72%	71.72%	71.72%	72.57%	72.57%	72.57%	72.57%	72.57%	72.57%	72.57%
	2.08%	2.29%	2.40%	2.54%	2.60%	2.73%	2.52%	2.60%	2.58%	2.65%	3.50%	3.42%
	2.02%	2.03%	1.93%	1.67%	1.64%	1.60%	1.61%	1.62%	1.62%	1.64%	1.66%	1.66%
	4.02%	3.99%	3.34%	3.04%	2.98%	2.86%	2.50%	2.33%	2.32%	2.21%	2.12%	2.08%
	21.57%	21.37%	20.61%	21.03%	21.05%	20.23%	20.81%	20.88%	20.88%	20.90%	20.14%	20.26%
No. of Shareholders	5,85,670	8,26,079	8,76,318	9,79,172	9,97,698	9,97,758	10,20,493	9,85,987	9,58,706	9,65,982	9,57,179	9,70,626

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	55.53%	56.42%	56.42%	56.42%	61.02%	64.86%	66.35%	70.32%	72.57%	72.57%	72.57%
	9.69%	6.35%	5.37%	3.50%	2.82%	2.38%	2.00%	2.29%	2.73%	2.65%	3.42%
	13.78%	14.00%	13.64%	11.58%	9.88%	8.13%	2.29%	2.03%	1.60%	1.64%	1.66%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.70%	3.99%	2.86%	2.21%	2.08%
	21.00%	23.22%	24.56%	28.50%	26.28%	24.63%	24.68%	21.37%	20.23%	20.90%	20.26%
No. of Shareholders	6,23,681	5,56,980	5,30,300	5,15,285	5,26,481	5,53,302	5,20,604	8,26,079	9,97,758	9,65,982	9,70,626

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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IFCI Ltd

IFCI Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

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