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IIFL Capital Services Ltd
(IIFLCAPS)
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Rating:61Neutral
Price Target:
₹352.00
▲(3.24% Upside)
Action:Reiterated
Date:08/09/26
The score is primarily driven by fundamentally solid but normalizing financial performance: sharp revenue growth is offset by margin compression, lower net income, higher leverage, and weaker cash flow. Technical indicators add near-term caution due to negative momentum signals, while valuation is broadly reasonable and provides some support.
Positive Factors
Strong revenue growth
A ~187% YoY revenue surge in FY2026 indicates durable business momentum and expanded client activity in capital markets. Such a structural top-line expansion can create scale advantages, improve product cross-sell potential and provide management bandwidth to reinvest in distribution and technology over the next 2–6 months.
Negative Factors
Net income declined despite revenue surge
Earnings quality concerns arise when net income falls even as revenue spikes, suggesting margin pressure from higher costs, adverse product mix, or one-off items. Persisting lower profitability could limit retained earnings, constrain reinvestment, and raise the bar for sustainable earnings improvement over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
A ~187% YoY revenue surge in FY2026 indicates durable business momentum and expanded client activity in capital markets. Such a structural top-line expansion can create scale advantages, improve product cross-sell potential and provide management bandwidth to reinvest in distribution and technology over the next 2–6 months.
Read all positive factors
IIFL Capital Services Ltd (IIFLCAPS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹105.46B
Dividend YieldN/A
Average Volume (3M)75.43K
Price to Earnings (P/E)18.2
Beta (1Y)1.66
Revenue Growth-4.46%
EPS Growth-19.71%
CountryIN
Employees1,558
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)6.86
Shares Outstanding314,806,550
10 Day Avg. Volume56,082
30 Day Avg. Volume75,427
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)2.47
Price to Sales (P/S)2.91
P/FCF Ratio15.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
IIFL Capital Services Ltd Business Overview & Revenue Model
Company Description
Incorporated in 1996 and headquartered in Mumbai, India, IIFL Capital Services Limited offers a comprehensive suite of capital market services across both primary and secondary markets. The company, formerly known as IIFL Securities Limited, adopt...
How the Company Makes Money
IIFL Capital Services Ltd primarily makes money through fees and commissions earned from capital markets intermediation and related client services. Key revenue streams generally include brokerage/transaction income from facilitating trades for cl...
IIFL Capital Services Ltd Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
67
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 9.07B | 26.03B | 19.86B |
| Gross Profit | 3.74B | 17.29B | 9.09B |
| EBITDA | 3.67B | 8.21B | 11.16B |
| Net Income | 2.12B | 5.61B | 7.12B |
Balance Sheet | |||
| Total Assets | 90.91B | 95.58B | 79.56B |
| Cash, Cash Equivalents and Short-Term Investments | 40.73B | 50.65B | 62.34B |
| Total Debt | 17.42B | 18.21B | 10.39B |
| Total Liabilities | 62.76B | 64.87B | 54.46B |
| Stockholders Equity | 28.11B | 30.66B | 25.07B |
Cash Flow | |||
| Free Cash Flow | -506.69M | 4.82B | 8.23B |
| Operating Cash Flow | -106.41M | 5.11B | 8.71B |
| Investing Cash Flow | -1.27B | -2.24B | -1.77B |
| Financing Cash Flow | 4.03B | 7.66B | -4.90B |
IIFL Capital Services Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹179.15B | 70.03 | ― | ― | 28.51% | 31.10% | |
62 Neutral | ₹265.65B | 25.50 | ― | 1.64% | 9.28% | 3.02% | |
61 Neutral | ₹105.46B | 18.24 | ― | ― | -4.46% | -19.71% | |
60 Neutral | ₹564.99B | 28.62 | ― | 0.57% | 14.81% | -29.13% | |
57 Neutral | ₹12.15B | 31.08 | ― | ― | -1.44% | -31.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹114.67B | 16.50 | ― | 1.28% | 16.27% | 55.21% |
* General Sector Average
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IIFL Capital Services Ltd
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IIFL Capital Services Ltd Corporate Events
IIFL Capital Services Publishes Q1 FY27 Unaudited Results in Leading Dailies
Jul 24, 2026
IIFL Capital Services Ltd has published extracts of its unaudited financial results for the quarter ended 30 June 2026 in leading English and Marathi newspapers, in line with disclosure norms under SEBI’s Listing Obligations and Disclosure R...
IIFL Capital Services posts Q1 FY27 earnings call recording online
Jul 24, 2026
IIFL Capital Services Limited has announced that the audio recording of its earnings call, held on July 24, 2026 to discuss financial results for the quarter ended June 30, 2026, has been made available on its website. The disclosure, made under S...
IIFL Capital Publishes EGM, E-Voting Notice in Leading Dailies
May 10, 2026
IIFL Capital Services Ltd has notified the stock exchanges that it has published newspaper advertisements in leading English and Marathi dailies announcing the dispatch of the notice for its upcoming Extraordinary General Meeting. The advertisemen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.