Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Oct - IIFL Finance Limited has informed regarding Newspaper Advertisments for the quarter and half year ended September 30. 2026.
Source: Bse
IIFL Finance Limited (IIFL)
Small CapFinancial Services stocks · Small cap · NSE
IIFL Finance Limited, a leading retail-focused NBFC, offers diversified loan products including home, gold, MSME, microfinance, and capital market finance through its subsidiaries. With 4,937 branches, it leverages a phygital model to serve underserved segments across India.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result22 Jul, 09:11 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
51NeutralSMA20 -4.5% / mo · MACD +
Stock trend: 55
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
IIFLD candles · FIT view+46.1%Latest close ₹612.50 on 2026-10-19
Bar
-0.4%
RSI
52
MACD hist
2.19
52W pos
69%
2026-10-19O ₹615.00H ₹628.50L ₹610.00C ₹612.50Vol 17.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
IIFLNifty Financial ServicesNifty 500
- IIFL
- +9.8%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +15.4 pp
Chart stats
19 Oct 2026- From 52W high
- -13.1%
- 52W range position
- 69%
- ATR (14)
- 3.6%
- Volume vs 20D
- 0.96x
- Avg traded value
- ₹111 Cr
- 20D price channel
- ₹566.3 - ₹638.3
₹705
₹409.1 - ₹705
₹22.3
Latest completed session
20-session average
33.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST38
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent85
Revenue +32.7% · PAT +160.2% YoY
Technical
Neutral51
Price trend and sector-relative-strength timing.
Valuation
Legacy model+59.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence52
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 85/100Rev +33% YoY · PAT +160% YoY · +6% QoQ · operating leverage
Filed 22 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,919 Cr | +32.7% | +6.2% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹713 Cr | +160.2% | +14.4% |
| PAT margin | 18.2% | +891 bps | +132 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 10.40
- P/B
- 1.70
- EV/EBITDA
- 455.06
- Market Cap
- 26219.00Cr
Profitability
- ROE
- 12.60%
- ROCE
- 10.90%
- ROA
- 2.53%
- Dividend Y
- 0.68%
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 17.00%
- Revenue 3Y
- 17.00%
- EPS 3Y
- 3.00%
Balance Sheet
- Debt/Equity
- 5.47
- Interest Coverage
- —
- Altman Z
- 0.44
- Book Value
- 362.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- -13976.00 Cr
- EPS TTM
- 58.55
Shareholding
- Promoter Hold
- 24.76%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 69%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 3.0-82.4% vs prev
Net Profit
₹ CrLatest: 2,643+45.5% vs prev
Return on Equity
%Latest: 19.0+29.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 52. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~4.7% over last month) — short-term momentum negative.
- RSI(14) at 52 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 13% off 52W high · 50% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
87
RS percentile
Stage 2 UptrendEstablished S2
1M return
+2.0%
3M return
+9.8%
6M return
+31.0%
1Y return
+19.2%
RS 1D
+1
RS 20D
+4
Sector rank
#9
Industry rank
#20
Stage evidence
- Price is 13.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +3.0%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
27 Aug 2026
S2 age
36 trading sessions
Sector
neutral
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 150.51+0.56%
RS vs Nifty 500151
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · WATCHLISTValuation20/30
Growth12/25
Quality3/20
Balance Sheet0/15
Cash Flow2/10
Piotroski
3/9 (+1)
Penalties
0
Raw sum
38
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
38/100 · legacy band WATCHLIST
Positive drivers
- Fair-value margin of safety is positive at 59.0%.
- Valuation contributes 20/30 to the score.
- Growth contributes 12/25 to the score.
Main drags
- Altman Z is 0.4, in distress territory.
- Balance sheet is weaker at 0/15; verify the latest quarterly trend.
- Quality is weaker at 3/20; verify the latest quarterly trend.
Sector valuation model
NBFC valuation: P/B, ROA, borrowing cost, and asset quality
Lenders can look optically cheap before credit losses emerge, so valuation is tied to book quality.
Primary lens
P/B adjusted for ROA/ROE and leverage quality.
Secondary checks
AUM growth, spreads, credit cost, liquidity and ALM risk.
Main risk check
Fast growth with weak asset quality deserves a discount.
PE
10.4
PB
1.7
EV/EBITDA
455.1
ROE
12.6%
ROCE
10.9%
FCF Yield
—
Debt/Equity
5.5
MoS
+59.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
38
Previous: 38
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+59.0%
Previous: +59.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
33
33
33
32
32
33
33
38
38
38
38
38
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹690.57
+11.3% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹1,493.03
+59.0% MoS
PEG
0.91
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CGCL
Small
Capri Global Capital Limited
NBFC
match 143
35
21.1
16.5%
+18%
WATCHLIST
CREDITACC
Small
CREDITACCESS GRAMEEN LIMITED
NBFC
match 141
33
16.3
10.5%
+36%
WATCHLIST
FIVESTAR
Small
Five-Star Business Finance Limited
NBFC
match 139
27
95.5
16.0%
-200%
OVERVALUED
APTUS
Small
Aptus Value Housing Finance India Limited
NBFC
match 137
50
11.3
20.1%
+57%
FAIR VALUE
JMFINANCIL
Small
JM Financial Limited
NBFC
match 137
58
11.0
11.9%
+58%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-23T08:20:36.198Z
Management commentary snapshot
IIFL Finance reports strong Q1FY27 with PAT (pre-NCI) up 160% YoY to 713.1 Cr and AUM growing 38% YoY to 1,15,523 Cr, driven by secured lending focus. PPOP rose 50% YoY, reflecting operating leverage and improved asset quality.
Strong Q1FY27 performance with robust AUM and PAT growth, driven by secured lending and improved operating efficiency. Management's strategic focus on capital-light growth via co-lending and AI-led operations supports future targets. Asset quality metrics show a slight QoQ uptick but are significantly better YoY.
Current business mix
AUM Mix by Product (Q1FY27)
Latest issuer-disclosed distribution across 5 reported categories.
Gold Loan51.0%
Home Loan29.0%
MSME loan9.0%
Microfinance8.0%
Others3.0%
Growth engines
Gold Loans
Gold loans have powered growth and remain a core engine, with AUM surging 114% YoY and 11% QoQ to 58,406 Cr.
Mortgages (Home Finance)
Mortgages are expected to gain momentum, aligning with the strategic focus on secured lending.
Secured MSME Lending
Continued shift towards secured MSME lending, with MSME AUM growing 9% QoQ to 10,808 Cr, improving risk profile.
Co-lending Partnerships
Co-lending partnerships enable capital-light growth, with 1.55 lakh Cr cumulative DA + co-lending originations since FY14 and zero losses reported.
Capacity and execution
New Branch Openings
IIFL Finance Standalone opened 113 new branches in Q1FY27.
Tailwinds
Strategic Focus on Secured Lending
Company delivered robust growth driven by a strategic focus on secured lending and disciplined portfolio rebalancing.
AI-Led Operating Model
AI-led operating model is driving productivity and risk management across underwriting, collections, and customer engagement.
Deepening Bank Partnerships
Deepening bank partnerships support resilient, capital-efficient growth, with 15 active co-lending partners and 14,630 Cr sanctioned limits.
Strong Liquidity Position
Company maintains a strong liquidity position of 7,148 Cr and successfully raised US$500 mn through Social Bonds issuance.
Risk radar
Asset Quality Trends
Gross NPA and Net NPA both increased by 9 bps QoQ, indicating a need for continued monitoring despite YoY improvements.
Execution of AI Transformation
Ambitious targets for AI projects over 2-3 years, aiming for 15-25% people productivity and 10-40% loss prevention, carry execution risk.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
For NBFCs, both sequential (QoQ) and annual (YoY) comparisons are crucial. QoQ shows immediate momentum in disbursements, asset quality trends, and operational efficiency, while YoY provides a broader view of growth and profitability trends, especially for a business with potential seasonality or longer-term strategic shifts.
Sector KPIs management disclosed
Consolidated AUM Growth
Consolidated AUM grew to 1,15,523 Cr, up 7% QoQ and 38% YoY.
Gold Loans AUM Growth
Gold loan AUM surged to 58,406 Cr, up 11% QoQ and 114% YoY, emerging as the primary growth driver.
Consolidated Interest Spread
Interest Spread at 7.48% in Q1FY27, up from 7.32% QoQ and 6.66% YoY.
Consolidated Cost of Borrowing
Total Cost of Borrowing was 9.05% in Q1FY27, up from 8.97% QoQ but down from 9.50% YoY.
Management forward view
Transformation Showing Results
Mr. Nirmal Jain states Q1FY27 demonstrates the company's transformation is now showing results, with a decisive return to best-in-class profitability.
Confidence in FY27 Growth
Mr. Nirmal Jain expresses confidence in delivering resilient, capital-efficient growth through FY27, leveraging a robust balance sheet, AI-led model, and bank partnerships.
Disciplined Cost Management
Mr. Vikas Jain (CFO) highlights disciplined cost management and improving operating leverage, even while investing in growth.
Focus on Capital Planning
Mr. Vikas Jain (CFO) looks forward to bringing continued rigor to cost discipline and capital planning through FY27.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Consolidated AUM Growth | 7% QoQ, 38% YoY ( 1,15,523 Cr) | Achievement of ~25% AUM growth target for FY27. |
| Consolidated Asset Quality (GNPA/NNPA) | GNPA 1.6% (up 9 bps QoQ), NNPA 0.8% (up 9 bps QoQ) | Stabilization or improvement in QoQ asset quality trends, particularly in Gold and Home Loans. |
| Off-Book Loan Assets Mix | 35% of AUM | Progress towards the 35-40% off-book mix target for FY27, indicating capital-light growth. |
| Return on Assets (ROA) / Return on Equity (ROE) | ROA 3.1%, ROE 19.5% | Sustaining ROA of 3.1-3.3% and ROE of 16-20% for FY27. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
52Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 10th percentile of the scored universe and 15th percentile within Financial Services. Main check: balance sheet trust is weak at 22/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
142 docs text-extracted · 57 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
10th percentile
overall median 67 · Financial Services: 15th pctile, median 62 · Small: 12th pctile, median 66
Evidence depth
Financial-only
142 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
66
acceptable · holding, pledge, alignment
Cash flow
40
weak · profit to cash conversion
Balance sheet
22
weak · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
82
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸3/4 latest quarters had positive YoY PAT growth.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-13976 Cr.
- ▸Debt/equity is 5.47.
- ▸Altman Z is 0.44.
- ▸Promoter holding is only 24.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching IIFL Finance Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Acquisition 15 Oct - Board approved Q2/H1FY27 results, re-designated R Venkataraman, and disclosed ₹475.56 crore and ₹963.39 crore tax demands.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment 21 Sep - Allotted 13,000 NCDs worth ₹130 crore at 9.25% for two years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 10 Sep - IIFL Finance Limited has informed regarding allotment of equity shares upon exercise of ESOPs.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment 9 Sep - Allotted 2,500 secured NCDs worth ₹25 crore at 9.10% for 2 years.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 21 Aug - Infomerics reaffirmed IVR AA/Stable for ₹850 crore PDIs, rated proposed ₹5,000 crore CP and ₹300 crore PDIs.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 20 Aug - BWR reaffirmed AA+/Stable on Rs 3,022.04 crore NCDs, AA/Stable on Rs 850 crore PDI, assigned AA/Stable for Rs 300 crore proposed PDI.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 17 Aug - Fitch upgraded IIFL Finance’s long-term IDR to BB- from B+, outlook stable.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 6 Aug - India Ratings assigns IND AA/Stable to ₹5,000 million subordinated debt and affirms other IIFL ratings.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 15 Jul - Crisil ESG assigned IIFL Finance ESG 66 and Core ESG 69 for FY26.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 15 Jul - IIFL Finance Limited has informed regarding Allotment of Equity Shares upon exercise of ESOPs
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment 10 Jul - IIFL Finance allotted USD 300 million 7.60% senior secured notes due 2030.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.