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India
As of 18 Sept 2026, 03:30 pm
IFCI Limited announced an addendum to its 33rd Annual General Meeting (AGM) notice on September 16, 2026, for the AGM scheduled on September 25, 2026. A key item is the proposed appointment of Shri Dilip Singh Punia as an Independent Director, effective September 11, 2026. This appointment was also noted in filings on September 15, 2026, and September 17, 2026. The AGM will also consider adopting financial statements for the year ended March 31, 2026, and the appointment of Shri Manikumar Sivaramakrishnan as Deputy Managing Director.
As of September 18, 2026, IFCI's stock has shown varied returns across different timeframes. It has returned 0.44 year-to-date (YTD) and 0.36 over the last six months. However, it has seen negative returns over shorter periods, including -0.01 in the last month and -0.07 over the last three months. The stock's annualized volatility is 0.55, with a current drawdown of -0.25 and a maximum drawdown of -0.37.
Based on technical analysis as of September 18, 2026, IFCI's stock has several key levels to monitor. Nearest support levels are identified at ₹74.54 (2.57% below current price), ₹73.01 (4.57% below), and ₹72.00 (5.90% below). On the upside, resistance is noted at ₹77.76 (1.63% above current price), ₹78.56 (2.68% above), and ₹80.30 (4.96% above).
Technical indicators suggest mixed trends for IFCI. On a daily timeframe, the Supertrend indicator is 'bearish' with a value of 92.92, and the 20-day Exponential Moving Average (EMA) slope is negative (-4.2). However, on a monthly timeframe, the Supertrend indicator is 'bullish' at 40.38, with a positive 20-day EMA slope. The weekly trend also shows a 'bullish' Supertrend at 69.29 and a positive 20-day EMA slope.
As of 18 Sept 2026, 03:30 pm
Showing 3 of 14 candles
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Interest Earned | ₹113.28 crore | PEAK₹153.40 crore | ₹113.11 crore | ₹89.36 crore | ₹104.48 crore |
| Revenue From Operations | ₹327.06 crore | ₹470.43 crore | ₹455.86 crore | PEAK₹732.28 crore | ₹407.18 crore |
| Income | ₹357.73 crore | ₹470.55 crore | ₹466.65 crore | PEAK₹752.21 crore | ₹444.86 crore |
| Expenses | ₹262.44 crore | ₹439.04 crore | PEAK₹449.16 crore | ₹370.74 crore | ₹340.40 crore |
| Finance Costs | ₹103.75 crore | ₹102.15 crore | ₹102.75 crore | PEAK₹107.01 crore | ₹104.38 crore |
| Other Expenses | ₹77.48 crore | ₹79.13 crore | ₹86.71 crore | PEAK₹104.99 crore | ₹97.97 crore |
IFCI’s first‑quarter results show a sequential improvement in net profit, driven primarily by an impairment reversal rather than an expansion of core operating activity. Revenue from operations contracted significantly compared with the previous quarter and the same quarter a year earlier, underscoring ongoing pressure on income generation. While the impairment reversal lifted the bottom line, the top‑line decline highlights the challenges the business faces.
Exchange disclosures and regulatory announcements for IFCI.
IFCI Limited received a member's notice proposing Shri Dilip Singh Punia (DIN: 11943788) as an Independent Director for consideration at the 33rd Annual General Meeting scheduled for September 25, 2026, at 11:30 A.M. IST via video conference. An addendum to the AGM notice was published on September 17, 2026, and remote e-voting for this special business (Item No. 5) runs from September 22, 2026, at 9:00 A.M. IST to September 24, 2026, at 5:00 P.M. IST.
IFCI Limited issued an addendum dated September 15, 2026, to the notice of its 33rd Annual General Meeting (AGM) scheduled for September 25, 2026, to add Item No. 5 for the appointment of Shri Dilip Singh Punia (DIN: 11943788) as an Independent Director. The Government of India, Ministry of Finance, Department of Financial Services, appointed him via letter dated September 10, 2026, for three years, and the Board appointed him as an Additional and Independent Director effective September 11, 2026. Shareholders are asked to pass a special resolution for his appointment, and he holds no shares in the company and is not related to other directors or KMPs.
IFCI Limited issued an addendum to its 33rd Annual General Meeting notice on September 16, 2026, adding a special resolution for the appointment of Shri Dilip Singh Punia as an Independent Director effective September 11, 2026. The meeting scheduled for September 25, 2026, will also consider adopting audited financial statements for the year ended March 31, 2026, fixing statutory auditor remuneration, and appointing Shri Manikumar Sivaramakrishnan as Deputy Managing Director. Additionally, shareholders will vote not to fill the vacancy caused by the rotational retirement of Non-Executive Non-Independent Director Prof. Narayanaswamy Balakrishnan.
On September 15, 2026, IFCI Limited notified the National Stock Exchange and BSE that Shri Dilip Singh Punia (DIN: 11943788) was appointed as an Additional and Independent Director effective September 11, 2026. This appointment follows a Government of India letter dated September 10, 2026, and is valid for a period of three years or until further orders, whichever is earlier. Shri Punia will receive no remuneration other than applicable sitting fees and has no existing relationships with current directors on the board.
On 11 September 2026, IFCI Limited appointed Shri Dilip Singh Punia as a Non-Executive Independent Director for a 36-month term. Shri Punia holds an M.Phil. and M.Com. from the University of Rajasthan and has over 38 years of experience in higher education and public service, having served as Principal of Government Lohia College, Churu. He is not related to any existing board director and is not debarred by SEBI or other authorities.
On September 14, 2026, ICRA Limited reaffirmed IFCI Limited's credit ratings for its fund-based and non-fund-based bank limits and long-term bonds at 'B+' and its commercial paper at 'A4'. The rating action remains under a watch with developing implications. This disclosure was issued by IFCI Limited to the National Stock Exchange of India and BSE Limited.
The Comptroller and Auditor General of India, on September 7, 2026, appointed Dhawan & Co. as the statutory auditor of IFCI Limited for the financial year 2026-2027. The appointment is effective for the company's statutory and consolidated financial statements under the Companies Act, 2013. The audit fee is to be fixed by the company in accordance with Section 142 of the Act, with terms detailed in the C&AG's letter.
IFCI Limited appointed M/s. Dhawan & Co. as its Statutory Auditor effective September 8, 2026, for a term of 12 months. The firm, established in 1981, holds a valid Peer Review Board certificate and possesses experience in auditing NBFCs and asset management companies.
Recent market and company developments associated with IFCI.
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New India Assurance's shares rose 9.4% and IFCI's by 7.8% amid the NSE IPO. Both stocks experienced volatility, influenced by market developments. Technical analysts suggest potential support and resistance levels, indicating ongoing fluctuations in their trends.
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A day after crashing almost 10%, IFCI shares crashed more than 4.5% to an intraday low of ₹88.40 on Wednesday. Overall, the stock has lost nearly 14% in just two consecutive sessions.
IFCI shares opened at ₹103.40 apiece on NSE today, as compared to previous close of ₹102.51. The stock hit an intraday low of ₹92.75 apiece.
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IFCI shares fell 7% after a sharp recent rally, after the stock rallied nearly 30% in a month amid Sebis approval of the NSE IPO. IFCI has indirect exposure to NSE through its stake in Stock Holding Corporation of India.
Comprehensive Section Breakdown for IFCI
Strategic Vision: Provides finance and advisory services across infrastructure and corporate sectors.
• Established history as a public non-banking financial company.
• Registered with the Reserve Bank of India as a Systemically Important Non-Deposit taking NBFC.
• Recognized as a Public Financial Institution under the Companies Act, 2013.
IFCI Limited reported a sharp sequential improvement in net profit for the quarter ended June 30, 2026 (FY2026‑27 Q1), rising to ₹60.27 crore from ₹34.06 crore in the previous quarter. The improvement was largely due to a sizable reversal of impairment on financial instruments. However, revenue from operations fell both from the preceding quarter and the same quarter a year ago, indicating continued pressure on income generation.
Revenue from operations for the quarter was ₹327.06 crore, a decline of 30.5% from ₹470.43 crore in the preceding March 2026 quarter (Q4 FY2025‑26) and a 19.7% drop from ₹407.18 crore in the same quarter a year earlier.
Within revenue, interest earned stood at ₹113.28 crore. This was 26.2% lower than the ₹153.40 crore recorded in Q4, but 8.4% higher than the ₹104.48 crore earned in the year‑ago quarter. Fees and commission income contributed ₹157.95 crore to the top line during the quarter.
Total expenses fell sharply to ₹262.44 crore, down 40.2% sequentially from ₹439.04 crore and down 22.9% from ₹340.40 crore in the year‑ago quarter. The decline was driven mainly by a significant swing in impairment on financial instruments.
In the current quarter, impairment on financial instruments reversed by ₹44.62 crore (a negative expense), compared with a charge of ₹83.50 crore in Q4 and a charge of ₹16.86 crore a year earlier. This reversal was the single largest factor lifting pre‑tax profitability.
Other expenses amounted to ₹77.48 crore, modestly lower than ₹79.13 crore in Q4 and meaningfully below ₹97.97 crore a year ago. Finance costs were stable at ₹103.75 crore, staying within the ₹102–104 crore range seen in recent quarters, suggesting no material change in borrowing costs or debt levels.
Profit before tax rose to ₹95.93 crore, a meaningful increase from ₹27.36 crore in Q4, though it was 6.7% below the ₹102.83 crore recorded in the year‑ago quarter. After a tax expense of ₹35.66 crore (an effective rate of about 37%), net profit stood at ₹60.27 crore. This compares with ₹34.06 crore in Q4 and ₹62.43 crore a year earlier. Basic earnings per share was ₹0.12, up from ₹0.05 in the preceding quarter but down from ₹0.15 in the prior‑year quarter.
Other income at ₹30.67 crore recovered sharply from just ₹12 lakh in the March 2026 quarter, though it remained below the ₹37.68 crore seen in the same quarter last year. The sequential profit improvement is almost entirely attributable to the impairment reversal, as revenue from operations shrank over the same period.
In its Q1 FY2027 results, IFCI Limited disclosed strategic plans for group consolidation via merger/amalgamation, with in-principle approval from DFS. The company continues to face significant asset quality challenges, with Gross NPAs at 95.68% and no fresh loan exposure. Capital adequacy remains a critical risk, as CRAR stood at -17.58%, well below the regulatory minimum of 15%. Additionally, management recognized interest income on stage 3 assets but fully provided for it, resulting in no net profit impact. The company maintains an impairment reserve to cover excess provisioning requirements.
Category: Financial Services
IFCI provides project financing solutions to a wide array of sectors, including power, telecommunications, roads, oil and gas, ports, airports, basic metals, chemicals, pharmaceuticals, electronics, textiles, real estate, smart cities, and urban infrastructure.
Category: Financial Services
The company offers corporate finance services, which encompass balance sheet funding, loans against shares, lease rental discounting, promoter funding, and financing for long-term working capital requirements, capital expenditures, and regular maintenance capital expenditures.
Category: Financial Services
IFCI provides syndication services and a range of advisory services, including financial advisory, ESG advisory, and other project advisory for government and corporate clients.
Category: Financial Services
The company is involved in sales and resolution services for non-performing assets, real estate and infrastructure services, and risk capital schemes.
Core Thesis: IFCI leverages its diverse financial services to support industrial and infrastructure development through project finance, corporate finance, and specialized advisory.
• Project Finance: Provides financing solutions across a broad spectrum of infrastructure and industrial sectors. • Corporate Finance: Offers a range of services including balance sheet funding, loans, and financing for capital expenditures and working capital. • Syndication and Advisory: Delivers syndication services and expert advisory for financial, ESG, and project-related matters. • Ancillary Financial Services: Engages in asset resolution, real estate services, risk capital schemes, and other financial support functions.