Indian Railway Finance Corporation Ltd

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Indian Railway Finance Corporation Ltd

₹ 95.3 0.58%
09 Jun 1:47 p.m.
irfc.co.in BSE: 543257 NSE: IRFC
About

Incorporated in 1986, Indian Railway Finance Corporation borrows funds from the financial markets to finance the acquisition / creation of assets which are then leased out to the Indian Railways as finance lease[1]

Key Points

Business Overview
The company serves as the funding arm of Indian Railways, mobilizing funds from domestic and overseas capital markets. IRFC is a Navratana and Schedule 'A' Public Sector Enterprise under the administrative control of the Ministry of Railways, Government of India. It is also registered as a Systemically Important Non-Deposit Taking NBFC and Infrastructure Finance Company. [1]

Website BSE NSE
  • Market Cap ₹ 1,24,491 Cr.
  • Current Price ₹ 95.3
  • High / Low ₹ 148 / 87.0
  • Stock P/E 17.8
  • Book Value ₹ 43.4
  • Dividend Yield 2.19 %
  • ROCE 5.64 %
  • ROE 12.8 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.6% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 13.0% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

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Quarterly Results

Figures in Rs. Crores

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
6,194 6,679 6,761 6,737 6,475 6,766 6,900 6,763 6,723 6,915 6,372 6,661 7,336
Interest 4,895 5,091 5,181 5,104 4,725 5,155 5,249 5,095 4,996 5,124 4,544 4,812 5,524
47 29 34 35 34 33 38 39 44 47 49 104 118
Financing Profit 1,252 1,559 1,546 1,597 1,716 1,578 1,613 1,629 1,683 1,744 1,778 1,746 1,694
Financing Margin % 20% 23% 23% 24% 26% 23% 23% 24% 25% 25% 28% 26% 23%
36 2 1 3 3 0 1 3 1 3 0 58 -7
Depreciation 3 4 2 1 2 2 1 1 1 1 1 1 2
Profit before tax 1,285 1,557 1,545 1,599 1,717 1,577 1,613 1,631 1,682 1,746 1,777 1,802 1,684
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
1,285 1,557 1,545 1,599 1,717 1,577 1,613 1,631 1,682 1,746 1,777 1,802 1,684
EPS in Rs 0.98 1.19 1.18 1.22 1.31 1.21 1.23 1.25 1.29 1.34 1.36 1.38 1.29
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6,939 7,507 9,047 9,267 11,134 13,421 15,771 20,299 23,892 26,650 27,153 27,285
Interest 4,992 5,519 6,888 6,638 8,183 10,163 11,237 14,075 17,447 20,101 20,495 20,005
34 38 26 38 48 66 113 123 134 133 154 318
Financing Profit 1,914 1,950 2,133 2,592 2,902 3,192 4,420 6,102 6,310 6,415 6,504 6,962
Financing Margin % 28% 26% 24% 28% 26% 24% 28% 30% 26% 24% 24% 26%
1 1 0 1 -0 0 0 2 41 6 3 53
Depreciation 0 0 0 0 0 0 4 14 14 9 5 6
Profit before tax 1,914 1,950 2,133 2,592 2,902 3,192 4,416 6,090 6,337 6,412 6,502 7,009
Tax % 60% 56% 56% 21% 22% 0% 0% 0% 0% 0% 0% 0%
758 849 934 2,055 2,255 3,192 4,416 6,090 6,337 6,412 6,502 7,009
EPS in Rs 211.58 187.50 143.08 3.15 2.40 2.69 3.38 4.66 4.85 4.91 4.98 5.36
Dividend Payout % 20% 40% 40% 18% 18% 0% 31% 30% 31% 31% 32% 0%
Compounded Sales Growth
10 Years: 14%
5 Years: 12%
3 Years: 5%
TTM: 0%
Compounded Profit Growth
10 Years: 24%
5 Years: 10%
3 Years: 3%
TTM: 8%
Stock Price CAGR
10 Years: %
5 Years: 31%
3 Years: 42%
1 Year: -36%
Return on Equity
10 Years: 13%
5 Years: 14%
3 Years: 13%
Last Year: 13%

Balance Sheet

Figures in Rs. Crores

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 3,584 4,526 6,526 6,526 9,380 11,880 13,069 13,069 13,069 13,069 13,069 13,069
Reserves 5,098 6,999 5,483 7,402 15,648 18,419 22,845 27,928 32,402 36,110 39,599 43,680
Borrowing 71,270 87,503 106,395 134,006 173,933 234,377 323,145 388,440 418,935 412,039 412,133 436,471
7,696 9,372 11,245 13,534 7,642 10,828 21,423 20,544 26,742 23,865 24,034 23,457
Total Liabilities 87,647 108,400 129,650 161,468 206,604 275,504 380,482 449,980 491,147 485,082 488,835 516,676
12 12 12 11 11 11 45 38 19 22 18 28
CWIP 0 0 0 0 0 0 0 0 0 4 4 0
Investments 9 8 8 14 13 12 12 10 14 54 38 28
87,626 108,381 129,630 161,443 206,579 275,482 380,424 449,932 491,114 485,003 488,775 516,620
Total Assets 87,647 108,400 129,650 161,468 206,604 275,504 380,482 449,980 491,147 485,082 488,835 516,676

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-16,378 -19,455 -28,076 -41,748 -62,701 -89,907 -64,412 -28,584 7,914 8,230 -27,026
2 2 2 1 1 0 -5 0 -8 -0 -3
17,582 18,250 28,075 41,749 62,697 90,202 64,266 28,643 -8,046 -2,572 21,560
Net Cash Flow 1,206 -1,204 0 3 -2 296 -151 60 -140 5,658 -5,469
Free Cash Flow -16,378 -19,455 -28,076 -41,749 -62,701 -89,907 -64,419 -28,585 7,906 8,229 -27,040
CFO/OP -213% -211% -298% -371% -465% -572% -319% -120% 30% 31% -101%

Ratios

Figures in Rs. Crores

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 % 9% 8% 8% 16% 12% 12% 13% 16% 15% 14% 13% 13%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Assets Under Management (AUM)
INR Crore

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Capital Adequacy Ratio (CRAR)
%
Disbursements
INR Crore
Net Gearing Ratio
x
Net Interest Margin (NIM)
%
Exposure to Ministry of Railways (MoR)
% of AUM

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
86.36% 86.36% 86.36% 86.36% 86.36% 86.36% 86.36% 86.36% 86.36% 86.36% 86.36% 84.65%
1.14% 1.14% 1.15% 1.08% 1.11% 1.09% 1.01% 0.98% 0.93% 0.97% 0.98% 1.16%
2.02% 1.63% 1.15% 0.89% 1.08% 1.08% 1.24% 1.34% 1.45% 1.48% 1.54% 2.89%
10.49% 10.88% 11.34% 11.68% 11.45% 11.48% 11.40% 11.32% 11.24% 11.17% 11.10% 11.29%
No. of Shareholders 18,05,74027,03,00032,51,99345,26,34151,08,89355,00,05455,40,76756,35,77554,51,17253,17,98151,69,33151,13,569

* 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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