IIFL Capital Services Ltd (IN:IIFLCAPS)
:IIFLCAPS
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IIFL Capital Services Ltd
(IIFLCAPS)
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Rating:68Neutral
Price Target:
₹389.00
▲(14.09% Upside)
Action:N/A
Date:05/09/26
The score is driven mainly by fundamentally solid but weakening financial performance (margin compression, lower net income, higher leverage, and softer cash flows), partially offset by strong technical momentum with overbought risk. Valuation is supportive at a mid-range P/E, but the dividend yield is modest.
Positive Factors
Revenue Momentum
A ~187% YoY revenue surge in FY2026 indicates the firm can scale fee and commission businesses quickly when market activity or client flows improve. Durable revenue momentum supports investment in distribution, technology and product breadth, helping sustain growth over multiple quarters.
Negative Factors
Margin compression
A meaningful drop in net margin from ~35.9% to ~21.6% suggests weaker pricing, adverse mix, higher operating costs, or increased competitive intensity. Persistently lower margins would erode the firm's ability to convert revenue into durable profits and reduce capital available for strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Momentum
A ~187% YoY revenue surge in FY2026 indicates the firm can scale fee and commission businesses quickly when market activity or client flows improve. Durable revenue momentum supports investment in distribution, technology and product breadth, helping sustain growth over multiple quarters.
Read all positive factors
IIFL Capital Services Ltd (IIFLCAPS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹107.60B
Dividend YieldN/A
Average Volume (3M)75.43K
Price to Earnings (P/E)16.5
Beta (1Y)1.87
Revenue Growth-4.69%
EPS Growth-21.54%
CountryIN
Employees1,558
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)6.86
Shares Outstanding311,434,720
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
IIFL Capital Services Limited provides capital market services in the primary and secondary markets in India. The company offers an investment and trading platform for equities, commodities, currency, and margin trade funding; investment solutions...
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 (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹91.75B | 6.68 | ― | 2.42% | 1.19% | -12.44% | |
68 Neutral | ₹107.60B | 16.52 | ― | ― | -4.69% | -21.54% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | ₹72.70B | 78.05 | ― | ― | 13.85% | -31.56% | |
56 Neutral | ₹104.50B | 17.80 | ― | 1.37% | 14.15% | 43.84% | |
51 Neutral | ₹140.29B | -81.35 | ― | 1.03% | 3.05% | 13.33% | |
44 Neutral | ₹31.12B | 98.87 | ― | ― | -11.00% | 400.98% |
* Financial Sector Average
IN:IIFLCAPS
IIFL Capital Services Ltd
343.20
68.76
25.05%
IN:EDELWEISS
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12.68%
IN:INDOSTAR
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-39.31%
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33.49%
IN:KTKBANK
Karnataka Bank Ltd.
248.50
55.56
28.80%
IN:RELIGARE
Religare Enterprises Limited
228.20
-1.65
-0.72%
IIFL Capital Services Ltd Corporate Events
ICICI Securities Announces Open Offer for IIFL Capital Services Shareholders
May 8, 2026
ICICI Securities, acting as manager to an open offer, has issued a public announcement addressed to the shareholders of IIFL Capital Services Ltd concerning a substantial acquisition of shares and a potential change in control. The move is governe...
FIH Mauritius Launches 26% Open Offer for IIFL Capital Services to Gain Control
May 7, 2026
FIH Mauritius Investments Ltd, together with HWIC Asia Fund as a person acting in concert, has launched an open offer to acquire up to 10,01,44,112 fully paid equity shares of IIFL Capital Services Limited, representing 26% of the expanded voting ...
IIFL Capital Services Clears ₹2,000-Crore Preferential Issue, Paving Way for New Promoter Control
May 7, 2026
IIFL Capital Services Ltd’s board has approved a preferential issue of 57.14 million equity shares at ₹350 each to FIH Mauritius Investments, raising about ₹2,000 crore, alongside an investment agreement that also contemplates a ...
IIFL Capital Services Clears ₹2,000 Crore Preferential Issue, Paving Way for New Promoter
May 7, 2026
IIFL Capital Services has approved a preferential issue of 57.14 million new equity shares at ₹350 each to FIH Mauritius Investments, raising about ₹2,000 crore, subject to shareholder and regulatory approvals. The deal is structured t...
Fairfax India to Take Majority Stake in IIFL Capital with ₹2,000 Crore Infusion
May 7, 2026
Fairfax India Holdings, via its wholly owned subsidiary FIH Mauritius Investments and affiliate HWIC Asia Fund, will deepen its involvement in IIFL Capital Services through a ₹2,000 crore primary capital infusion by way of a preferential sha...
IIFL Capital Services Updates Fair Disclosure Code to Align With SEBI Insider Trading Norms
Feb 10, 2026
IIFL Capital Services Ltd has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information to align with recent changes in the SEBI (Prohibition of Insider Trading) Regulations, 2015. Approved by the ...
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.