āagmanLoginNot investment advice. Data and computed figures, for information only.
Indian Railway Finance Corporation Ltd
₹78.90
−₹0.85 (−1.07%)
NSE · 15 Oct 2026, close
Market Cap
₹97,622 Cr
CMP
₹78.90
52-wk High / Low
₹137 / 74
P/E
13.6
P/B
1.7
Book Value
₹43.4
Div Yield
2.81%
ROCE
5.6%
ROE
13.0%
Face Value
₹10
D/E
7.69
Price−37.6% over 1Y
āagman read
Computed by āagmanPiotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹72
√(22.5 × EPS × book value per share)
Cash flow to profit
−3.86
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
8.0%
ROE × earnings retention ratio
ROE stability
1.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −1.75FII −0.01DII +1.07
Latest quarter vs the previous one
Cash-accrual divergence
6.8%
of assets
Low = accruals track cash flow
Strengths
+PE of 13.6x is below the sector median of 20.4x
Watch-outs
−Latest ROCE of 5.6% trails the sector median of 9.4%
−Borrowings are up 398.8% since FY2016 (87503 to 436471)
−Price trades below its 200-day moving average (0.8x)
−Price is 42.5% below its 52-week high
−Promoter holding fell by 3.5pp over the last year
−Piotroski F-Score of 3/9 is in the weak band (≤3)
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,679 | 6,761 | 6,737 | 6,475 | 6,766 | 6,900 | 6,763 | 6,723 | 6,915 | 6,372 | 6,661 | 7,336 | 8,261 |
| Expenses | 29 | 34 | 35 | 34 | 33 | 38 | 39 | 44 | 47 | 49 | 104 | 118 | 42 |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 2 | 1 | 3 | 3 | 0 | 1 | 3 | 1 | 3 | 0 | 58 | −7 | 130 |
| Interest | 5,091 | 5,181 | 5,104 | 4,725 | 5,155 | 5,249 | 5,095 | 4,996 | 5,124 | 4,544 | 4,812 | 5,524 | 6,421 |
| Depreciation | 4 | 2 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Profit before tax | 1,557 | 1,545 | 1,599 | 1,717 | 1,577 | 1,613 | 1,631 | 1,682 | 1,746 | 1,777 | 1,802 | 1,684 | 1,927 |
| Net Profit | 1,557 | 1,545 | 1,599 | 1,717 | 1,577 | 1,613 | 1,631 | 1,682 | 1,746 | 1,777 | 1,802 | 1,684 | 1,927 |
| EPS (₹) | 1.19 | 1.18 | 1.22 | 1.31 | 1.21 | 1.23 | 1.25 | 1.29 | 1.34 | 1.36 | 1.38 | 1.29 | 1.47 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,939 | 7,507 | 9,047 | 9,267 | 11,134 | 13,421 | 15,771 | 20,299 | 23,892 | 26,650 | 27,153 | 27,285 | 28,630 |
| Expenses | 34 | 38 | 26 | 38 | 48 | 66 | 113 | 123 | 134 | 133 | 154 | 318 | 313 |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 2 | 41 | 6 | 4 | 53 | 181 |
| Interest | 4,992 | 5,519 | 6,888 | 6,638 | 8,183 | 10,163 | 11,237 | 14,075 | 17,447 | 20,101 | 20,495 | 20,005 | 21,302 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 14 | 14 | 9 | 5 | 6 | 6 |
| Profit before tax | 1,914 | 1,950 | 2,133 | 2,592 | 2,902 | 3,192 | 4,416 | 6,090 | 6,337 | 6,412 | 6,502 | 7,009 | 7,191 |
| Net Profit | 758 | 849 | 934 | 2,055 | 2,255 | 3,192 | 4,416 | 6,090 | 6,337 | 6,412 | 6,502 | 7,009 | 7,191 |
| EPS (₹) | 211.58 | 187.50 | 143.08 | 3.15 | 2.40 | 2.69 | 3.38 | 4.66 | 4.85 | 4.91 | 4.98 | 5.36 | 5.50 |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3,584 | 4,526 | 6,526 | 6,526 | 9,380 | 11,880 | 13,069 | 13,069 | 13,069 | 13,069 | 13,069 | 13,069 | — |
| Reserves | 5,098 | 6,999 | 5,483 | 7,402 | 15,648 | 18,419 | 22,845 | 27,928 | 32,402 | 36,110 | 39,599 | 43,680 | — |
| Other Liabilities | 7,696 | 9,372 | 11,245 | 13,534 | 7,642 | 10,828 | 21,423 | 20,544 | 26,742 | 23,865 | 24,034 | 23,457 | — |
| Total Liabilities | 87,647 | 1,08,400 | 1,29,650 | 1,61,468 | 2,06,604 | 2,75,504 | 3,80,482 | 4,49,980 | 4,91,147 | 4,85,082 | 4,88,835 | 5,16,676 | — |
| Fixed Assets | 12 | 12 | 12 | 11 | 11 | 11 | 45 | 38 | 19 | 22 | 18 | 18 | — |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 4 | 10 | — |
| Investments | 9 | 8 | 8 | 14 | 13 | 12 | 12 | 10 | 14 | 54 | 38 | 28 | — |
| Other Assets | 87,626 | 1,08,381 | 1,29,630 | 1,61,443 | 2,06,579 | 2,75,482 | 3,80,424 | 4,49,932 | 4,91,114 | 4,85,003 | 4,88,775 | 5,16,620 | — |
| Total Assets | 87,647 | 1,08,400 | 1,29,650 | 1,61,468 | 2,06,604 | 2,75,504 | 3,80,482 | 4,49,980 | 4,91,147 | 4,85,082 | 4,88,835 | 5,16,676 | — |
| Borrowing | 71,270 | 87,503 | 1,06,395 | 1,34,006 | 1,73,933 | 2,34,377 | 3,23,145 | 3,88,440 | 4,18,935 | 4,12,039 | 4,12,133 | 4,36,471 | — |
Cash Flows
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | — | −16,378 | −19,455 | −28,076 | −41,748 | −62,701 | −89,907 | −64,412 | −28,584 | 7,914 | 8,230 | −27,026 |
| Cash from Investing Activity | — | 2 | 2 | 2 | 1 | 1 | 0 | −5 | 0 | −8 | 0 | −3 |
| Cash from Financing Activity | — | 17,582 | 18,250 | 28,075 | 41,749 | 62,697 | 90,202 | 64,266 | 28,643 | −8,046 | −2,572 | 21,560 |
| Net Cash Flow | — | 1,206 | −1,204 | 0 | 3 | −2 | 296 | −151 | 60 | −140 | 5,658 | −5,469 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | — | — | — | — | — | — | — | — | — | — | 5.6 |
| ROE % | 9.0 | 8.0 | 8.0 | 16.0 | 12.0 | 12.0 | 13.0 | 16.0 | 15.0 | 14.0 | 13.0 | 13.0 |
| EPS (₹) | 211.58 | 187.50 | 143.08 | 3.15 | 2.40 | 2.69 | 3.38 | 4.66 | 4.85 | 4.91 | 4.98 | 5.36 |
| Book Value (₹) | — | — | — | — | — | — | — | — | — | — | — | 43.4 |
| Face Value (₹) | — | — | — | — | — | — | — | — | — | — | — | 10 |
| P/E | — | — | — | — | — | — | — | — | — | — | — | 13.6 |
| Div Yield % | — | — | — | — | — | — | — | — | — | — | — | 2.81 |
| NPM % | 10.9 | 11.3 | 10.3 | 22.2 | 20.3 | 23.8 | 28.0 | 30.0 | 26.5 | 24.1 | 23.9 | 25.6 |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — |
| D/E | 8.21 | 7.59 | 8.86 | 9.62 | 6.95 | 7.74 | 9.00 | 9.47 | 9.21 | 8.38 | 7.83 | 7.69 |
| P/B | — | — | — | — | — | — | — | — | — | — | — | 1.7 |
Growth
Compounded sales growth
10 years+14.0%
5 years+12.0%
3 years+5.0%
TTM+5.0%
Compounded profit growth
10 years+24.0%
5 years+10.0%
3 years+3.0%
TTM+8.0%
Stock price CAGR
5 years+26.0%
3 years+0.0%
Last year−41.0%
Return on equity
10 years13.0%
5 years14.0%
3 years13.0%
Last year13.0%
Documents
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationCorporate Action-Board to consider DividendBoard Meeting Intimation for Intimation Of Board Meeting To Be Held On Thursday, 15Th October 2026Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Thursday, 15Th October 2026Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Corporate actions
13 Mar 2026DIVIDENDInterim Dividend - Rs 1.05 Per Share—
24 Oct 2025DIVIDENDInterim Dividend - Rs 1.05 Per Share—
21 Mar 2025DIVIDENDInterim Dividend - Re 0.80 Per Share—
12 Nov 2024DIVIDENDInterim Dividend - Re 0.80 Per Share—
22 Aug 2024DIVIDENDDividend - Rs 0.70 Per Share—
10 Nov 2023DIVIDENDInterim Dividend - Re 0.80 Per Share—
15 Sep 2023DIVIDENDDividend - Re 0.70 Per Share—
17 Nov 2022DIVIDENDInterim Dividend - Re 0.80 Per Share—
15 Sep 2022DIVIDENDDividend - Re 0.63 Per Share—
10 Nov 2021DIVIDEND Interim Dividend - Rs 0.77 Per Share—
17 Feb 2021DIVIDEND Interim Dividend - Rs 1.05 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman