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IIFL Finance Limited
(IIFL)
IIFL Finance Limited (IIFL) vs. iShares MSCI India ETF (INDA)
IIFL Finance Limited Business Overview & Revenue Model
IIFL Finance Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 104.24B | 99.25B | 101.58B | 79.13B | 70.13B | 59.53B |
| Gross Profit | 59.92B | 57.55B | 62.90B | 46.91B | 40.22B | 33.28B |
| EBITDA | 8.17B | 8.96B | 27.53B | 22.65B | 16.58B | 11.10B |
| Net Income | 3.24B | 3.79B | 17.64B | 15.00B | 11.88B | 7.60B |
Balance Sheet | ||||||
| Total Assets | 718.63B | 676.44B | 624.04B | 514.64B | 459.10B | 406.67B |
| Cash, Cash Equivalents and Short-Term Investments | 53.62B | 22.91B | 26.29B | 58.03B | 81.45B | 47.96B |
| Total Debt | 550.27B | 515.33B | 471.36B | 408.45B | 368.65B | 325.83B |
| Total Liabilities | -139.55B | 536.89B | 503.48B | 428.01B | 394.40B | 352.73B |
| Stockholders Equity | 126.59B | 124.12B | 106.37B | 89.92B | 64.64B | 53.88B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -48.42B | -61.16B | -52.02B | 16.83B | -36.27B |
| Operating Cash Flow | 0.00 | -47.81B | -58.48B | -49.41B | 17.84B | -35.91B |
| Investing Cash Flow | 0.00 | -11.49B | -13.56B | -27.16B | -9.96B | 2.36B |
| Financing Cash Flow | 0.00 | 55.26B | 60.42B | 53.61B | 27.81B | 44.30B |
IIFL Finance Limited Technical Analysis
IIFL Finance Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | ₹225.07B | 17.55 | ― | ― | 8.01% | -20.87% | |
59 Neutral | ₹134.09B | 11.76 | ― | 0.36% | 20.44% | 13.10% | |
56 Neutral | ₹212.06B | 41.77 | ― | 0.77% | 0.75% | -90.03% | |
55 Neutral | ₹148.46B | 37.59 | ― | ― | -12.62% | 175.71% | |
52 Neutral | ₹169.00B | 19.28 | ― | 0.11% | 43.41% | 109.52% | |
49 Neutral | ₹241.06B | 61.55 | ― | 0.80% | -3.68% | -80.12% |
IIFL Finance Limited Corporate Events
IIFL Finance Limited’s board has approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, along with associated regulatory disclosures including security cover details and utilisation of proceeds for its non-convertible securities. The board also declared an interim dividend of Rs. 4 per share for FY 2025-26 with a record date of 29 January 2026, announced an internal change in the Chief Information Security Officer role with the exit of Sameer Gadve and the appointment of Kailash Gaonkar from 23 January 2026, and disclosed receipt of Goods and Services Tax orders from authorities in Bihar and Gujarat as well as an Income Tax Department directive for a special audit under Section 142(2A), described as procedural with no immediate quantifiable financial impact.
IIFL Finance’s board has approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, alongside related regulatory disclosures on security cover and the utilisation of proceeds from non-convertible securities. The board also declared an interim dividend of Rs 4 per equity share for FY 2025-26, set a record date of 29 January 2026 and payment on or before 20 February 2026, and approved a leadership change in the information security function, with Chief Information Security Officer Sameer Gadve stepping down and being succeeded by senior management appointee Kailash Gaonkar from 23 January 2026. In parallel, the company disclosed receipt of GST orders from the tax departments in Bihar and Gujarat and a direction from the Income Tax Department to conduct a special audit for a specified block period under Section 142(2A), which it characterised as part of ongoing assessment proceedings with no current adjudication or determinable financial impact, indicating heightened regulatory scrutiny but no immediate change to its financial position.
IIFL Finance Limited has initiated a postal ballot process to seek shareholder approval via remote e-voting for two special resolutions aimed at enhancing the company’s borrowing limits under Sections 180(1)(c) and 180(1)(a) of the Companies Act, 2013. The ballot, conducted electronically through MUFG Intime India Private Limited between January 7 and February 5, 2026, signals the company’s intent to secure greater financial flexibility for future funding requirements, potentially supporting balance-sheet expansion and growth plans while formally aligning its capital-raising capacity with statutory approvals from shareholders.
IIFL Finance Limited has disclosed that it received an order from the Assistant Commissioner of GST, Delhi, imposing a penalty of Rs 15.04 lakh for alleged non-payment of tax on exempt supplies for the 2021–22 financial year under the Central and Delhi Goods and Services Tax Acts. The company has stated that it plans to appeal the order within the prescribed timeframe and has indicated that the penalty is not expected to have a material impact on its financials, operations or overall business activities, suggesting limited immediate implications for stakeholders.
IIFL Finance’s finance committee has approved and completed the private placement allotment of a total of 70,100 listed non-convertible debentures (NCDs) in dematerialised form on 30 December 2025, aggregating to Rs 800 crore of subordinated redeemable NCDs and Rs 100 crore of perpetual NCDs. The issue comprises 30,000 subordinated, unsecured, listed, rated, redeemable NCDs of Rs 1 lakh each under Series D35 (Option A-I) with a seven-year tenure and 9.25% annual coupon, 40,000 similar NCDs under Series D35 (Option A-II) with a ten-year tenure and 9.30% coupon, and 100 perpetual, unsecured, listed, rated NCDs of Rs 1 crore each under Series PDI-2 (Option B) carrying a 9.90% coupon and a callable feature after 10 years subject to Reserve Bank of India approval. All three tranches are to be listed on the National Stock Exchange of India, enhancing IIFL Finance’s long-term funding profile and, in the case of perpetual debentures, potentially supporting its regulatory capital structure, while locking in relatively high fixed interest costs in the current rate environment.
IIFL Finance Limited’s Finance Committee has approved the issuance of two tranches of listed, rated non-convertible debentures (NCDs) on a private placement basis, comprising unsecured subordinated redeemable NCDs of up to Rs 700 crore and perpetual unsecured NCDs of up to Rs 100 crore, both to be listed on the National Stock Exchange of India. The structure, including base issue sizes with green-shoe options and defined penalties for payment delays, indicates the company’s continued reliance on debt capital markets to diversify its funding profile and potentially strengthen its regulatory capital and long-term funding mix, which is significant for investors tracking its leverage, liquidity, and growth capacity.
IIFL Finance has approved the issuance of two tranches of listed, rated non-convertible debentures (NCDs) on a private placement basis, with a total potential fundraise of up to Rs 800 crore. The first tranche comprises unsecured, subordinated, redeemable NCDs of up to Rs 700 crore, while the second comprises perpetual unsecured NCDs of up to Rs 100 crore, both proposed to be listed on the National Stock Exchange of India. The move underscores the company’s continued reliance on capital markets for funding and balance sheet strengthening, providing additional debt capital that can support future lending growth and reinforce its funding diversification strategy, with defined provisions for higher interest in case of payment delays to protect debenture holders.
IIFL Finance Limited’s board has appointed former Reserve Bank of India Deputy Governor Bibhu Prasad Kanungo as the non-executive independent Chairperson of its board, effective 19 December 2025, strengthening the company’s governance with deep central banking, regulatory and financial sector expertise. The board also approved a proposal, subject to shareholder approval, to enhance the company’s borrowing and security-creation limit from ₹35,000 crore to ₹60,000 crore, signalling an ambition for larger balance sheet expansion, and disclosed that it has complied with an income-tax notice by filing the required return for a specified block period and paying tax of about ₹1.47 crore, closing a regulatory follow-up from an earlier income tax search.
IIFL Finance Limited has designated former Reserve Bank of India Deputy Governor Bibhu Prasad Kanungo as Chairperson of its Board, effective immediately, following a unanimous decision by the board of directors. Kanungo, who currently serves as a non-executive independent director at IIFL Finance, brings more than four decades of experience in central banking, monetary policy and financial regulation, and his elevation is being framed as a move to strengthen the company’s corporate governance, regulatory discipline and institutional resilience, aligning closely with SEBI’s listing and disclosure requirements and signaling a strong focus on independent oversight for stakeholders.
IIFL Finance Limited announced that its material subsidiary, IIFL Home Finance Limited, has been assigned a credit rating of IVR A1+ by Infomerics Valuation and Rating Limited for its proposed commercial paper issue of Rs. 3,000 crores. This high credit rating reflects positively on IIFL Home Finance’s financial health and could enhance its ability to raise funds, potentially strengthening its market position and benefiting stakeholders.
IIFL Finance Limited has announced the allotment of 125,816 equity shares to its employees under its Employee Stock Option Schemes (ESOPs). This move, approved by the Nomination and Remuneration Committee, is part of the company’s strategy to incentivize and retain talent, potentially enhancing employee engagement and aligning their interests with the company’s growth objectives.
IIFL Finance Limited has announced the approval of a public issue of secured, rated, listed, redeemable non-convertible debentures with a shelf limit of up to Rs. 2,000 Crore. This strategic move is expected to enhance the company’s capital base and support its growth initiatives, subject to necessary regulatory approvals.
IIFL Finance Limited has announced the grant of 44,000 stock options to selected employees under its Employee Stock Option Scheme 2008. This move, approved by the Nomination and Remuneration Committee, is part of the company’s efforts to incentivize and retain talent, potentially impacting its operational efficiency and market positioning positively.