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Indian government-owned development finance institution now focused on recovering legacy industrial loans and financial-sector investments.
Indian government-owned development finance institution now focused on recovering legacy industrial loans and financial-sector investments.
Set up in 1948 as India's first development finance institution, it now makes few new loans. Cash comes mainly from recovering old loans and from stakes in financial subsidiaries such as Stock Holding Corporation of India, and the Government of India is its controlling shareholder.
Moat: none. No longer an active growth lender; value tied to recovery of old loans and stake sales.
Headquarters: New Delhi, India · Founded: 1948 · Employees: 138
Size IFCI (IFCI.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $1.75B, the 406th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹61.31 on 6 Nov 2026.
Performance Over six months the shares fell 4.0%, against -6.2% for the median peer and 0.0% for the India market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 2.7% over the last twelve months (peer median +8.8%); the operating margin is 35.4% (peer median 11.1%).
Valuation It trades at 1.85× book value against a peer median of 1.54× (9th most expensive of 21).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹20.5B | ₹20.0B | ₹17.6B | ₹17.1B | ₹16.3B |
| Revenue growth | — | +14% | +3% | +5% | — |
| Gross profit | ₹14.3B | ₹17.8B | ₹15.6B | ₹15.3B | ₹14.5B |
| EBITDA | ₹8.09B | ₹12.3B | ₹10.9B | ₹10.8B | ₹8.79B |
| Net income | ₹1.74B | ₹1.81B | ₹1.71B | ₹1.04B | -₹2.08B |
| Free cash flow | n/a | ₹16.3B | ₹12.2B | ₹13.2B | ₹10.3B |
| Capital expenditure | n/a | ₹590M | ₹469M | ₹440M | ₹656M |
| Total debt | n/a | ₹35.2B | ₹37.1B | ₹53.7B | ₹60.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| IFCI IFCI.NS | $1.75B | -4% | -3% | 2% | 1.85× | 36.2% |
| Power Finance PFC.NS | $11.5B | -28% | +4% | 21% | 0.76× | 14.4% |
| REC RECLTD.NS | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IFCI.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.2% | -0.5% | 7th lowest of 21 |
| 6-month return | -4.0% | -6.2% | 11th highest of 21 |
| Return on equity | 2.0% | 7.4% | 3rd lowest of 21 |
| Price / book | 1.85× | 1.54× | 9th most expensive of 21 |
| Trailing P/E | 94.7× | 15.6× | most expensive of 19 |
| ROE the price implies | 36.2% | 14.1% | 4th most demanding of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| IFCI IFCI.NS | India | $1.75B | -4% | -3% | 2% | 1.85× | 36.2% | n/a |
| EZCORP EZPW | United States | $1.75B | -15% | +29% | 15% | 1.51× | 11.5% | 14.7% |
| Zip ZIP.AX | Australia | $1.74B | -17% | +24% | 17% | 3.74× | 66.6% | 16.8% |
| Greatoo Intelligent Equipment 002031.SZ | China | $1.68B | -11% | -20% | -13% | 6.07× | 54.9% | -13.5% |
| CreditAccess Grameen CREDITACC.NS | India | $1.84B | -27% | +17% | 20% | 1.95× | 20.5% | 19.7% |
| Metro Bank MTRO.L | United Kingdom | $1.63B | +22% | +1% | 4% | 0.94× | 12.1% | 4.3% |
| Federal Agricultural Mortgage AGM | United States | $1.90B | 0% | +31% | 13% | 1.56× | 14.0% | 13.5% |
| Sammaan Capital SAMMAANCAP.NS | India | $1.61B | -13% | -60% | -35% | 0.80× | 14.2% | n/a |
| AEON Financial Service 8570.T | Japan | $1.95B | -9% | +8% | 5% | 0.67× | 5.2% | 4.9% |
| LOTTE rental 089860.KS | South Korea | $1.56B | +74% | +4% | 8% | 1.34× | 6.3% | 7.7% |
| Aadhar Housing Finance AADHARHFC.NS | India | $1.99B | -14% | +18% | 16% | 2.48× | 31.1% | n/a |
| PROG PRG | United States | $1.47B | +4% | +10% | 17% | 1.82× | 23.0% | 17.3% |
| Custom Truck One Source CTOS | United States | $2.12B | -4% | +6% | 4% | 2.58× | 26.7% | 3.7% |
| Upstart UPST | United States | $2.17B | -24% | +39% | 8% | 2.44× | 37.8% | 8.0% |
| Upbound UPBD | United States | $1.41B | +29% | +3% | 16% | 1.88× | 23.5% | 15.5% |
| Zigup ZIG.L | United Kingdom | $1.41B | +14% | +3% | 7% | 0.96× | 12.8% | 7.1% |
| Duskin 4665.T | Japan | $1.40B | +20% | +3% | 7% | 1.43× | 5.4% | 6.7% |
| Atlanticus ATLC | United States | $1.38B | +8% | +84% | 23% | 1.97× | 24.5% | 22.9% |
| Haitong Unitrust International Financial Leasing 1905.HK | Hong Kong | $1.38B | +57% | -20% | 6% | 0.52× | 4.2% | 6.5% |
| Zhejiang Haikong Nanke Huatie Digital Technology 603300.SS | China | $1.34B | -31% | +12% | 5% | 1.29× | 9.8% | 5.3% |
| Walker & Dunlop WD | United States | $1.34B | -28% | +9% | 2% | 0.76× | 10.0% | 2.2% |