# IFCI (IFCI) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/ifci

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹61.29
- Change: -0.10%
- As of: 2026-11-06
- 1D return: -0.10%
- 5D return: +12.11%
- 1M return: -7.74%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

IFCI closed at ₹61.29 on 2026-11-06, following an extreme downward gap that erased the previous day’s +3.2% gain. The daily trend is bearish and established (ADX 26.73), with price trading below all key moving averages and the Supertrend. Despite this near-term weakness, the monthly structure remains bullish, supported by a Supertrend signal and an active monthly Inside Bar pattern. IFCI sits in the lower-middle of its 20-day range (+38.1%) and near the bottom of its 52-week range (+24.6%), amid high volatility (annualized 54.2%) and a significant current drawdown of -40.2%.

- Daily bearish structure: Price below all MAs and Supertrend; ADX 26.73 confirms established trend.
- Monthly bullish context: Supertrend remains bullish; active monthly Inside Bar suggests potential consolidation or breakout.
- Key levels: Immediate resistance at ₹61.38 (pivot) and ₹61.92 (high); support at ₹60.62 (low) and ₹59.89 (low).
- Risk profile: High volatility (ATR 5.09%) and deep drawdown (-40.2%) require careful position sizing.

- Inside Bar
- Bullish Engulfing Reversal
- Outside Bar
- Doji
- Harami
- Evening Star

### News Context

IFCI Limited has filed two key updates with the National Stock Exchange this week. On November 5, Brickwork Ratings reaffirmed its credit ratings for existing Non-Convertible Debentures/Bonds and proposed NCDs at 'BWR B+' with a Negative outlook, while maintaining the rating for proposed Commercial Papers at 'BWR A4'. These ratings remain valid until November 3, 2027. Additionally, the company announced that its Board of Directors will meet on November 12, 2026, to consider and approve the unaudited financial results for the quarter and half-year ended September 30, 2026. A trading window closure is in effect through November 14, 2026.

Market data as of November 6 shows the stock closing at ₹61.29, with a market capitalization of approximately ₹16,529.6 crore. Technical indicators present a mixed picture: daily and weekly trends are bearish, with the price trading below key moving averages (EMA 20 slope -1.72%, SMA 20 slope -1.4%). However, the monthly trend remains bullish. The stock has experienced significant volatility over the past year (+13.2% return) but is down 18.2% over three months and 6.4% over one month. Current drawdown stands at -40.2% from its peak.

- Credit Rating: Brickwork Ratings affirmed 'BWR B+' (Negative outlook) for NCDs/Bonds and 'BWR A4' for Commercial Papers, valid until November 3, 2027.
- Upcoming Catalyst: Board meeting scheduled for November 12, 2026, to approve Q2/H1 FY2027 financial results; trading window closed until November 14.
- Price Action: Stock closed at ₹61.29 on November 6, down 6.4% over the last month and 18.2% over three months, despite a YTD gain of +15.5%.
- Technical Outlook: Daily and weekly trends are bearish with negative momentum slopes, though the monthly trend remains bullish; current drawdown is -40.2%.

- Credit rating |SUBJECT: Credit rating
- IFCI Limited has informed the Exchange about Credit Rating- Others |SUBJECT: Credit Rating- Others
- Financial Results |Meeting Date: 12-Nov-2026
- Board Meeting Intimation |Meeting Date: 12-Nov-2026
- IFCI Limited has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation

### Official Filings

IFCI Limited has disclosed a credit rating reaffirmation by Brickwork Ratings, maintaining its Non-Convertible Debenture/Bond ratings at 'BWR B+' with a Negative outlook and Commercial Paper rating at 'BWR A4', valid until November 03, 2027. This rating action is a key indicator of the company's debt servicing capacity and borrowing costs for retail investors holding or considering fixed-income instruments. Concurrently, the Board of Directors is scheduled to meet on November 12, 2026, to approve financial results for the quarter and half-year ended September 30, 2026. To ensure compliance with insider trading regulations, the trading window for designated persons and their immediate relatives remains closed from September 30, 2026, through November 14, 2026. Shareholding data as of September 30, 2026, indicates that promoters and promoter group hold 72.57% of the equity, while the public holds 27.43%, reflecting a concentrated ownership structure. Additionally, IFCI has published a notice regarding a SEBI special window for the transfer and dematerialization of physical securities, open from February 5, 2026, to February 4, 2027, allowing shareholders to regularize holdings acquired before April 1, 2019.

- Brickwork Ratings reaffirmed IFCI’s NCD/Bond rating at 'BWR B+' with a Negative outlook and CP rating at 'BWR A4', valid until November 03, 2027.
- Board meeting on November 12, 2026, will consider standalone and consolidated financial results for Q2 and H1 FY2027; trading window closed until November 14, 2026.
- Promoter and promoter group shareholding stands at 72.57% as of September 30, 2026, with public holding at 27.43%.
- SEBI special window for dematerialization of physical securities (acquired before April 1, 2019) is active until February 4, 2027.

- [Credit rating |SUBJECT: Credit rating](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_05112026122532_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [IFCI Limited has informed the Exchange about Credit Rating- Others |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/IFCI_05112026122946_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/IFCI_26102026110441_STX_REG29_BM.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [IFCI Limited has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 72.57 | PUBLIC_VAL: 27.43 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738784_15102026031334_WEB.xml)
- [IFCI Limited has informed the Exchange about Copy of Newspaper Publication - Special Window for transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/IFCI_14102026165507_STX_SPCLWINDOW_OCT.pdf)
- [IFCI Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/IFCI_13102026150808_STX_REG74_5__DP.pdf)
- [IFCI Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_673_WebXMLFile_20260930_153149510.xml)
- [Trading Window |SUBJECT: Trading Window](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_30092026152924_STX_TW_SEPT26.pdf)

### Fundamentals

IFCI’s financial trajectory for FY2026 shows a divergence between top-line growth and bottom-line quality. Revenue expanded to ₹2,077 crore in FY2026 from ₹2,021 crore in FY2025, supported by a strong sequential recovery in Q1 FY2026-27 where revenue fell only modestly to ₹327.06 crore despite lower interest earned (₹113.28 crore). However, earnings quality remains fragile; while net profit rose to ₹435 crore in FY2026 from ₹349 crore in FY2025, the TTM compounded profit growth is -44%, indicating recent volatility. Return on Equity has stagnated at 2% in FY2026 after peaking at 3% in FY2025. The balance sheet shows deleveraging, with borrowings declining to ₹3,523 crore and CWIP reaching zero, but cash generation is inconsistent, with operating cash flow swinging from negative ₹984 crore in FY2025 to positive ₹280 crore in FY2026. Promoter holding remains stable at 72.57%, while FIIs increased their stake to 3.42%.

- FY2026 Net Profit grew to ₹435 crore (from ₹349 crore in FY2025), yet TTM profit growth is -44%, highlighting earnings volatility.
- Revenue reached ₹2,077 crore in FY2026 (+2.8% YoY); Q1 FY2026-27 saw sequential revenue decline to ₹327.06 crore as interest earned dropped to ₹113.28 crore.
- ROE remained flat at 2% in FY2026, down from 3% in FY2025, signaling limited efficiency gains despite asset optimization.
- Borrowings decreased to ₹3,523 crore and CWIP hit zero, improving balance sheet structure, but Operating Cash Flow swung sharply from -₹984 crore (FY2025) to +₹280 crore (FY2026).

### Bull Case

IFCI presents a conditional upside case driven by divergent momentum signals across timeframes. While the daily trend is bearish with a -18.2% return over three months and a current price of ₹61.29, the monthly timeframe remains bullish. The monthly ADX stands at 27.76, with the Plus DI (31.8) significantly outpacing the Minus DI (14.82), indicating sustained upward pressure on longer horizons despite short-term weakness. This structural divergence suggests that the recent pullback may be a consolidation phase within a broader positive trend rather than a trend reversal. Furthermore, the stock has maintained a Year-to-Date return of +15.5% and a one-year return of +13.2%, demonstrating resilience against its current -40.2% drawdown from peak levels. The constructive interpretation holds provided the monthly bullish structure persists; investors should monitor whether the price can stabilize above key support levels like ₹60.62 to confirm that short-term volatility does not erode the longer-term momentum.

- Monthly technicals remain bullish: Monthly ADX is 27.76, with Plus DI (31.8) leading Minus DI (14.82), contrasting with daily bearishness.
- Longer-term returns are positive: YTD return is +15.5% and 1-year return is +13.2%, offsetting the recent -18.2% quarterly decline.
- Price action near pivot resistance: Current close of ₹61.29 is just 0.15% below the nearest pivot resistance at ₹61.38, suggesting potential for immediate retest if momentum shifts.
- Drawdown context: Current drawdown is -40.2% from maximum drawdown of -46.7%, indicating the stock is recovering from significant lows while maintaining higher timeframe strength.

- [Credit rating |SUBJECT: Credit rating](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_05112026122532_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [IFCI Limited has informed the Exchange about Credit Rating- Others |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/IFCI_05112026122946_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/IFCI_26102026110441_STX_REG29_BM.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [IFCI Limited has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 72.57 | PUBLIC_VAL: 27.43 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738784_15102026031334_WEB.xml)
- [IFCI Limited has informed the Exchange about Copy of Newspaper Publication - Special Window for transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/IFCI_14102026165507_STX_SPCLWINDOW_OCT.pdf)
- [IFCI Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/IFCI_13102026150808_STX_REG74_5__DP.pdf)
- [IFCI Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_673_WebXMLFile_20260930_153149510.xml)
- [Trading Window |SUBJECT: Trading Window](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_30092026152924_STX_TW_SEPT26.pdf)

### Bear Case

IFCI’s technical setup on November 6, 2026, presents a near-term bearish bias despite a positive monthly trend. The stock closed at ₹61.29, trading below its 20-day Exponential Moving Average (EMA) and Simple Moving Average (SMA), with both indicators showing negative slopes over the last five periods (-1.72% and -1.40%, respectively). The daily SuperTrend is confirmed as bearish, and the Directional Movement Index shows selling pressure dominating, with the Minus DI (33.0) significantly higher than the Plus DI (18.32). Momentum has deteriorated sharply in recent weeks; the stock has fallen 18.2% over three months and 7.7% over the past 20 days, eroding year-to-date gains of 15.5%. Volatility remains elevated, with an annualized volatility of 54.2% and an Average True Range (ATR) of 5.09%, indicating significant price swings. The stock is currently in a deep correction, sitting 40.2% below its recent peak, with a maximum historical drawdown of 46.7%. Immediate resistance is tight at ₹61.38 (pivot) and ₹61.92, while support lies at ₹60.62.

- Daily trend is bearish: Price  EMA-20 & SMA-20; SuperTrend signals sell; Minus DI (33.0)  Plus DI (18.32).
- Short-term momentum weakening: -18.2% return over 3 months; -7.7% return over 20 days.
- High volatility and drawdown: Annualized volatility 54.2%; current drawdown -40.2% from peak.
- Near-term levels: Resistance at ₹61.38 (pivot) and ₹61.92; Support at ₹60.62.

- [Credit rating |SUBJECT: Credit rating](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_05112026122532_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [IFCI Limited has informed the Exchange about Credit Rating- Others |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/IFCI_05112026122946_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/IFCI_26102026110441_STX_REG29_BM.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [IFCI Limited has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 72.57 | PUBLIC_VAL: 27.43 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738784_15102026031334_WEB.xml)
- [IFCI Limited has informed the Exchange about Copy of Newspaper Publication - Special Window for transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/IFCI_14102026165507_STX_SPCLWINDOW_OCT.pdf)
- [IFCI Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/IFCI_13102026150808_STX_REG74_5__DP.pdf)
- [IFCI Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_673_WebXMLFile_20260930_153149510.xml)
- [Trading Window |SUBJECT: Trading Window](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_30092026152924_STX_TW_SEPT26.pdf)

### FAQs

**What credit rating actions has IFCI recently received, and what is the outlook?**

On November 5, 2026, Brickwork Ratings reaffirmed IFCI’s credit ratings for existing Non-Convertible Debentures/Bonds and proposed NCDs at 'BWR B+' with a Negative outlook. The rating for proposed Commercial Papers was also reaffirmed at 'BWR A4'. These ratings are valid for twelve months until November 3, 2027.

**When will IFCI release its financial results for the quarter ended September 30, 2026?**

IFCI’s Board of Directors is scheduled to meet on November 12, 2026, to consider and approve the standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The trading window for insiders will remain closed through November 14, 2026.

**How has IFCI's stock price performed over different time periods as of November 6, 2026?**

As of November 6, 2026, IFCI's stock closed at ₹61.29. Period returns show a Year-to-Date gain of +15.5% and a one-year return of +13.2%. However, shorter-term performance has been negative, with a one-month return of -6.4% and a three-month return of -18.2%.

**What are the key technical support and resistance levels for IFCI around the current price?**

With the stock closing at ₹61.29, immediate resistance is noted at ₹61.38 (pivot) and ₹61.92 (high). Key support levels are located at ₹60.62 (low), ₹59.89 (low), and ₹59.13 (low). The daily trend indicates bearish momentum, while the monthly trend remains bullish.

- [Credit rating |SUBJECT: Credit rating](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_05112026122532_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [IFCI Limited has informed the Exchange about Credit Rating- Others |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/IFCI_05112026122946_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- [Financial Results |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/IFCI_26102026110441_STX_REG29_BM.pdf)
- [Board Meeting Intimation |Meeting Date: 12-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [IFCI Limited has informed the Exchange about Board Meeting to be held on 12-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 72.57 | PUBLIC_VAL: 27.43 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 15-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738784_15102026031334_WEB.xml)
- [IFCI Limited has informed the Exchange about Copy of Newspaper Publication - Special Window for transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/IFCI_14102026165507_STX_SPCLWINDOW_OCT.pdf)
- [IFCI Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/IFCI_13102026150808_STX_REG74_5__DP.pdf)
- [IFCI Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_673_WebXMLFile_20260930_153149510.xml)
- [Trading Window |SUBJECT: Trading Window](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_30092026152924_STX_TW_SEPT26.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Moderate Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹61.38
- Risk regime: Higher Price Risk

### Support levels
- 55.225
- 52.72
- 51.465625

### Resistance levels
- 61.92
- 63.1675
- 66.2325

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.10% |
| return_10 | +3.39% |
| return_1m | -6.44% |
| return_1y | +13.16% |
| return_20 | -7.74% |
| return_3m | -18.18% |
| return_5 | +12.11% |
| return_6m | +0.33% |
| return_since_start | -1.19% |
| return_ytd | +15.49% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -46.67% |
| annualized_volatility | +54.18% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Impairment Reversal Drives Sequential Profit Recovery as Revenue Slides

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 and Interest Income

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.

## Expenses and Impairment

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.

## Profitability

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.

## Management Commentary

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.

## Key Takeaway

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.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +72.57%
- FII holding: +3.42%
- DII holding: +1.66%
- Mutual fund holding: +0.15%
- Retail holding: +13.13%
- Promoter pledged: +0.00%

### Major reported shareholders

- President of India — +72.57%
- Life Insurance Corporation of India — +1.48%

## Official filings

- 2026-11-05 — Credit Rating Update: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_05112026122532_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- 2026-11-05 — Credit Rating Update: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_05112026122946_STX_Credit_Rating_BWR_Nov04_2026.pdf)
- 2026-10-26 — Board Meeting Notice: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_26102026110441_STX_REG29_BM.pdf)
- 2026-10-26 — Board Meeting Notice: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- 2026-10-26 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_673_WebXMLFile_20261026_110719273.xml)
- 2026-10-15 — Shareholding Disclosure: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738784_15102026031334_WEB.xml)
- 2026-10-14 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_14102026165507_STX_SPCLWINDOW_OCT.pdf)
- 2026-10-13 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_13102026150808_STX_REG74_5__DP.pdf)
- 2026-09-30 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_673_WebXMLFile_20260930_153149510.xml)
- 2026-09-30 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IFCI_30092026152924_STX_TW_SEPT26.pdf)
- 2026-09-30 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_30092026153534_STX_TW_SEPT26.pdf)
- 2026-09-25 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_25092026162117_STX_PROCEEDINGS_AGM.pdf)
- 2026-09-25 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_25092026192408_STX_SCRUTINIZER_VOTING.pdf)
- 2026-09-25 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_25092026193247_STX_CESSATION_PROFBALKI.pdf)
- 2026-09-25 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_673_WebXMLFile_20260925_193459730.xml)
- 2026-09-17 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_17092026141943_STX_ADDENDUM_NP.pdf)
- 2026-09-16 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_16092026183551_STX_ADDENDUM_AGM.pdf)
- 2026-09-16 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_673_WebXMLFile_20260916_183933043.xml)
- 2026-09-15 — Management Change: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_15092026164513_STX_APPT_ID.pdf)
- 2026-09-15 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_673_WebXMLFile_20260915_164726589.xml)
- 2026-09-14 — Credit Rating Update: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_14092026172429_STX_ICRA_CREDITRATING.pdf)
- 2026-09-08 — Management Change: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_08092026165716_STX_AUDITORS.pdf)
- 2026-09-08 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_673_WebXMLFile_20260908_170042382.xml)
- 2026-09-03 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_03092026171300_STX_AGM_NEWSPAPER.pdf)
- 2026-09-02 — Generic Announcement: IFCI Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IFCI_02092026193527_STX_NOTICE_AGM.pdf)

## News and market events

- 2026-09-28 — MONEYCONTROL: **IFCI, NIACL fall up to 4% as NSE stock slips below IPO price: Here's why** — NSE share price, IFCI, NIACL — [Source](https://www.moneycontrol.com/news/business/markets/ifci-niacl-fall-up-to-4-as-nse-stock-slips-below-ipo-price-here-s-why-14040059.html)
- 2026-09-24 — BUSINESS: **IFCI, NIACL witness a 2-month roller-coaster ride amid NSE IPO; what next?** — Shares of IFCI and New India Assurance surged up to 53% in the last two months, only to erase gains amid the NSE IPO launch. Tech analysts decode strategy in these two stocks. — [Source](https://www.business-standard.com/markets/news/ifci-niacl-witness-a-2-month-roller-coaster-ride-amid-nse-ipo-what-next-126092400347_1.html)
- 2026-09-24 — BUSINESSTODAY: **NSE stock rises 5% on market debut: How shares of IFCI, SBI, Bank of Baroda, GIC Re are trading today** — NSE stock listing, NSE stock price today, NSE stock price, SBI, Bank of Baroda, GIC Re , New India Assurance, NSE upcoming IPO, NSE IPO price range, New India Assurance stock — [Source](https://www.businesstoday.in/markets/stocks/story/nse-stock-rises-on-market-debut-how-shares-of-ifci-sbi-bank-of-baroda-gic-re-are-trading-today-557466-2026-09-24)
- 2026-09-18 — BUSINESSTODAY: **Soach Global set for nearly 25x gains in partial exit from NSE; to sell 20% stake in IPO** — NSE IPO, National Stock Exchange IPO, NSE shares, Soach Global, Soach Global Opportunities Fund, NSE IPO price band, NSE offer for sale, NSE stake sale, Anubhav Dayal, NSE investment, NSE listing, stock market, IPO news — [Source](https://www.businesstoday.in/markets/ipo-corner/story/soach-global-set-for-nearly-25x-gains-in-partial-exit-from-nse-to-sell-20-stake-in-ipo-556407-2026-09-18)
- 2026-09-17 — Mint: **NSE IPO buzz lifts New India Assurance, IFCI up to 9% | What do technical experts say?** — 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. — [Source](https://www.livemint.com/market/stock-market-news/nse-ipo-buzz-lifts-new-india-assurance-ifci-up-to-9-what-do-technical-experts-say-11789623090580.html)
- 2026-09-10 — BUSINESSTODAY: **SBI, IFCI, NIACL: Check fresh target prices for selling beneficiaries in NSE's mega IPO** — Stocks to buy, Stock picks, Stocks to trade, trading views, New India Assurance Company, State Bank of India, IFCI, NIACL shares, SBI shares, IFCI shares, NIACL share price, SBI share price, IFCI share price, NIACL stock price, SBI stock price, IFCI stock price, NIACL target price, SBI target price, IFCI target price — [Source](https://www.businesstoday.in/markets/stocks/story/sbi-ifci-niacl-check-fresh-target-prices-for-selling-beneficiaries-in-nses-mega-ipo-554446-2026-09-10)
- 2026-09-09 — Mint: **IFCI share price down today- drops 14% in 2 days- Why is the stock falling?** — 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. — [Source](https://www.livemint.com/market/stock-market-news/ifci-share-price-down-today-drops-14-in-2-days-why-is-the-stock-falling-11788926060995.html)
- 2026-09-08 — Mint: **IFCI share price tumbles over 8% amid ongoing NSE IPO buzz** — 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. — [Source](https://www.livemint.com/market/stock-market-news/ifci-share-price-tumbles-over-8-amid-ongoing-nse-ipo-buzz-11788846861811.html)
- 2026-09-08 — BUSINESSTODAY: **NIACL, IFCI shares tumble after recent gains amid NSE IPO buzz; check technical outlook** — NIACL shares, IFCI shares, New India Assurance Company, IFCI, NSE IPO, NSE stake, National Stock Exchange IPO, NSE IPO buzz, NSE exposure, stock market, technical outlook, share price, technical analysis, NSE stakeholding, Indian stock market — [Source](https://www.businesstoday.in/markets/stocks/story/niacl-ifci-shares-tumble-after-recent-gains-amid-nse-ipo-buzz-check-technical-outlook-553863-2026-09-08)
- 2026-09-08 — MONEYCONTROL: **NIACL, IFCI shares fall up to 12% amid profit booking as NSE IPO GMP declines** — NSE IPO, NIACL, IFCI — [Source](https://www.moneycontrol.com/news/business/markets/niacl-ifci-shares-fall-up-to-12-amid-profit-booking-as-nse-ipo-gmp-declines-14025009.html)
- 2026-09-08 — Economic Times: **IFCI shares slide 7% after stellar 30% monthly surge amid NSE IPO buzz** — 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. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ifci-shares-slide-7-after-stellar-30-monthly-surge-amid-nse-ipo-buzz/articleshow/133908130.cms)
- 2026-09-07 — Economic Times: **IFCI shares rally 6%, turn multibagger as NSE IPO gets SEBI nod. More upside ahead?** — IFCI shares rallied 6% after Sebi approved NSEs much-awaited IPO, clearing a key hurdle for the exchanges listing. IFCI has indirect exposure to NSE through its majority stake in Stock Holding Corporation of India. The stock has surged over 500% in three years, with analysts seeing further upside. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ifci-shares-rally-6-turn-multibagger-as-nse-ipo-gets-sebi-nod-more-upside-ahead/articleshow/133865991.cms)
- 2026-09-07 — MONEYCONTROL: **Trade Spotlight: How should you trade IFCI, Balaji Amines, ACME Solar Holdings, Indraprastha Gas, Tata Communications, and others on September 7?** — Trade Spotlight — [Source](https://www.moneycontrol.com/news/business/markets/trade-spotlight-how-should-you-trade-ifci-balaji-amines-acme-solar-holdings-indraprastha-gas-tata-communications-and-others-on-september-7-14023879.html)
- 2026-09-06 — Economic Times: **Ahead of Market: 10 things that will decide stock market action on Monday** — Indian benchmark indices ended slightly higher on Friday, with the Sensex rising 363 points and Nifty closing below 23,898. Investors monitored global market cues, US economic data, and inflation reports, while stock-specific action drove intraday activity across major sectors in a sideways-moving market environment. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-stock-market-action-on-monday/articleshow/133834844.cms)
- 2026-09-04 — The Hindu: **NSE IPO bet sends New India Assurance, IFCI to new highs** — The rally was driven by anticipation that the long-awaited NSE IPO may soon receive SEBI approval — [Source](https://www.thehindubusinessline.com/markets/stock-markets/nse-ipo-bet-sends-new-india-assurance-ifci-to-new-highs/article71428148.ece)
- 2026-09-04 — CNBC-TV18: **Sensex rises 363 points, Nifty gains 24 points: 3 reasons why stocks ended mixed** — Broader markets underperformed, with the Nifty Midcap index falling 156 points to 63,079, while several stocks moved sharply on company-specific developments. — [Source](https://www.cnbctv18.com/market/sensex-rises-363-points-nifty-gains-24-points-3-reasons-why-stocks-ended-mixed-19984343.htm)
- 2026-09-04 — CNBC-TV18: **New India Assurance, IFCI shares extend weekly gains ahead of NSE IPO** — With the moves seen this week, shares of New India Assurance have doubled in value so far in 2026, having gained 101%, while New India Assurance has extended its year-to-date advance to 46%. — [Source](https://www.cnbctv18.com/market/nse-ipo-timeline-selling-shareholders-new-india-assurance-stock-holding-parent-ifci-share-price-extend-gains-19984046.htm)
- 2026-09-04 — Economic Times: **IFCI shares rally 6% as NSE IPO buzz lifts sentiment; stock gains 35% in a month** — IFCI Share Price: IFCI shares surged over 6% as optimism around the long-awaited NSE IPO boosted investor interest in the state-owned financial services company, which indirectly holds more than 4% of NSE through SHCIL. The stock has rallied nearly 35% in a month, while NSEs potential IPO valuation and regulatory risks remain key factors for investors. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ifci-shares-rally-6-as-nse-ipo-buzz-lifts-sentiment-stock-gains-35-in-a-month/articleshow/133753028.cms)
- 2026-09-04 — MONEYCONTROL: **NSE targets listing on Sep 25, reports CNBC-TV18; IFCI, NIACL shares rise up to 11%** — nse ipo — [Source](https://www.moneycontrol.com/news/business/markets/nse-targets-listing-on-sep-25-reports-cnbc-tv18-ifci-niacl-shares-rise-up-to-8-14022646.html)
- 2026-09-03 — BUSINESSTODAY: **IFCI shares cross Rs 100 mark after 19 years; here's why** — IFCI shares,  IFCI shares hit record high, IFCI shares hit 52 week high, Stock Holding Corporation of India, IFCI Stock price today — [Source](https://www.businesstoday.in/markets/stocks/story/ifci-shares-cross-rs-100-mark-after-19-years-heres-why-553141-2026-09-03)
- 2026-09-03 — MONEYCONTROL: **NSE IPO effect: NIACL, IFCI extend gains on buzz of issue launch this month** — NIACL, IFCI — [Source](https://www.moneycontrol.com/news/business/markets/nse-ipo-effect-niacl-ifci-extend-gains-on-buzz-of-issue-launch-this-month-14021592.html)
- 2026-09-03 — BUSINESSTODAY: **Ola share price in focus as board to consider fundraise on September 5** — Ola share, Ola share price, Ola target, Ola target price, Ola news, Ola Electric Mobility, Ola Electric, Ola Electric news, Ola Electric share price today — [Source](https://www.businesstoday.in/markets/stocks/story/ola-share-price-in-focus-as-board-to-consider-fundraise-on-september-5-553014-2026-09-03)
- 2026-09-02 — BUSINESSTODAY: **IFCI, NIACL stocks jump up to 14%; NSE IPO buzz lifts focus: Analysts share outlook** — IFCI, NIACL, IFCI share price, NIACL share price, NSE IPO, NSE IPO buzz, NSE listing, Stock Holding Corporation of India, SHCIL, PSU stocks, government stocks, stock market, NSE DRHP, NSE IPO outlook, technical outlook, share market news — [Source](https://www.businesstoday.in/markets/stocks/story/ifci-niacl-stocks-jump-up-to-14-nse-ipo-buzz-lifts-focus-analysts-share-outlook-552837-2026-09-02)
- 2026-09-02 — CNBC-TV18: **IFCI shares surge to a 52-week high after a 10% jump on Wednesday** — Among public shareholders, over 86,000 small retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 12.92% stake in the company, while those with authorized share capital in excess of ₹2 lakh also had a 12.65% stake in the company. Investor Ashish Dhawan's name also appears in the shareholding, with a 2.17% stake. The International Finance Corporation has a 6.07% stake. — [Source](https://www.cnbctv18.com/market/ifci-share-price-surge-52-week-ahead-ahead-of-nse-ipo-stockholding-promoter-entity-shareholding-19982108.htm)
- 2026-09-02 — News18: **Market Crash Today: 10 Stocks Defy Selloff, Rally Up To 8% on September 2** — IFCI is among the biggest gainers, surging 8.02% to Rs 94.26, followed by The New India Assurance Company, up 5.67% at Rs 196.3, and Poly Medicure, which gains 5.48% to Rs 1,852.6. — [Source](https://www.news18.com/business/markets/market-crash-today-10-stocks-defy-selloff-rally-up-to-8-on-september-2-ws-l-10305500.html)

## Business profile

**Strategic vision:** Provides finance and advisory services across infrastructure and corporate sectors.

### Business segments
- **Project Finance:** 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.
- **Corporate Finance:** 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.
- **Syndication and Advisory 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.
- **Other Financial Services:** The company is involved in sales and resolution services for non-performing assets, real estate and infrastructure services, and risk capital schemes.

### Competitive strengths
- 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.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/ifci
Markdown representation: https://faxioms.com/stocks/ifci?render=md