Key Metrics of Ifci Limited
Revenue₹898 Cr▲ 31.9% YoYFY 2025-26
EBITDA₹486 Cr▼ 47.9% YoY
Net profit₹51.7 Cr▲ 18.1% YoY
Net worth₹1,786 Cr▲ 2.9% YoY
Competitors10identified
About Ifci Limited
Sectors
Company details
- Website
- ifciltd.com
- Founded
- 1948
- Registered office
- Ifci Tower 61 Nehru Place, New Delhi, In-dl, 110019
- Listed
- NSE: IFCI · ₹59.05
Operational Areas of Ifci Limited
Banking & Financial Services›NBFC, Lending & Housing Finance
Company summary
Entity details
CINL74899DL1993GOI053677
LEI code3358007NRXJW5PA61H06
State codeDL
PIN code110019
Current legal nameIFCI LIMITED
Classification—
Listing statusListed (NSE: IFCI)
Registration no.053677
Company age78 years, 3 months
PAN—
CountryIndia
CityNew Delhi
StateDelhi
Current statusActive
Date of incorporation01 Jul 1948
Registrar of companies—
Authorised capital—
Paid-up capital—
Employee count—
Compliance
Last AGM date—
Last balance sheet—
Next filing dueAOC-4 for FY 2025-26 · 30 Oct 2026
Industry classification
NIC code74899
Description of main activityOther business activities (consultancy, engineering, advertising, staffing)
Description of business activityOther business activities (consultancy, engineering, advertising, staffing)
SectorOther Industries · Discovered Companies
Premium
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
AGM for FY 2025-2630 Sep 2026
Statutory due date passed
AOC-4 for FY 2025-2630 Oct 2026
Statutory due date · 3 days left
MGT-7 for FY 2025-2629 Nov 2026
Statutory due date · 33 days left
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
ICRA · 14 Sep 2026
ICRA B+
Short term A4 · Watch
CARE · 17 Aug 2026
CARE BB
Developing outlook · Watch
Change in last 12 months▼ 2 notches
Change since first rating on record▼ 5 notchessince Feb 2019
Rating actions140 up · 0 down
Liquidity (ICRA)Stretched
NoteRating watch (ICRA, 14 Sep 2026)
WatchLiquidity assessed as Stretched
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 14 Sep 2026 | ICRA | Watch | B+ | A4 | — | ₹1,245 Cr | View |
| 17 Aug 2026 | CARE | Watch | BB | — | Developing | ₹1,466 Cr | View |
| 18 Aug 2025 | CARE | Watch | BB | — | Developing | ₹1,935 Cr | View |
| 03 Dec 2024 | CARE | Watch | BB | — | Developing | ₹1,935 Cr | View |
| 04 Jul 2024 | CARE | Reaffirmed | BB | — | Negative | ₹1,935 Cr | View |
| 05 Jul 2023 | CARE | Reaffirmed | BB | — | Negative | ₹2,185 Cr | View |
| 06 Jul 2022 | CARE | Reaffirmed | BB | — | Negative | ₹700 Cr | View |
| 17 Aug 2021 | CARE | Revised (from BBB-) | BB | — | Negative | ₹2,000 Cr | View |
| 24 Nov 2020 | CARE | Reaffirmed | BBB- | — | Negative | ₹9,052 Cr | View |
| 10 Aug 2020 | CARE | Reaffirmed | BBB- | — | Negative | ₹9,052 Cr | View |
| 24 Jan 2020 | CARE | Reaffirmed | BBB- | — | Negative | ₹7,432 Cr | View |
| 14 Sep 2019 | CARE | Other | — | — | — | — | View |
| 05 Jul 2019 | CARE | Reaffirmed | BBB- | — | Negative | ₹11,525 Cr | View |
| 25 Feb 2019 | CARE | Revised (from BBB+) | BBB | — | Negative | ₹11,525 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Not applicable
Credit challenges
—
Could lead to an upgrade
The rating watch may be resolved once there is clarity on the transaction structure, operational profile, financial metrics, and the GoI’s stake in the merged entity. Further, given the current significantly weak capital position,
Could lead to a downgrade
The ratings could be downgraded on further weakening of the
Agency-reported financials (ICRA, 14 Sep 2026)
| Metric | FY2025 | FY2026 | Q1FY2027 |
|---|---|---|---|
| Total income | ₹842 Cr | ₹924 Cr | ₹125 Cr |
| PAT | ₹44.00 Cr | ₹52.00 Cr | ₹9.00 Cr |
| Total managed assets | ₹9,386 Cr | ₹10,064 Cr | ₹7,312 Cr |
| Return on managed assets 0.45% 0.53% 0.47%^ | 0.5% | 0.5% | — |
| Reported gearing (Debt*/Net worth; times) | 2.51× | 2.34× | 2.34× |
| Gross stage | 98.2% | 98.3% | 98.2% |
| Revenue growth (YoY) | — | 9.7% | — |
| PAT margin | 5.2% | 5.6% | 7.2% |
Borrowings & rated debt
Rated borrowing limits (latest)₹1,466 Cr
Peak rated limits₹11,525 CrFeb 2019 · CARE
Limits raised0 times0 new facilities rated
Weighted average coupon9.90%
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| crore) Continues to be on Infrastructure bonds (RWD) | Debentures & bonds | — | ₹73.4 Cr | — | BB | Watch | CARE |
| Continues to be on Long-term bank facilities (RWD) | Working capital & bank lines | — | ₹200 Cr | — | BB | Watch | CARE |
| Non-convertible Continues to be on (RWD) | Other | — | ₹145 Cr | — | BB | Watch | CARE |
| debentures Continues to be on Subordinated bonds (RWD) 571.04) Continues to be on | Subordinated debt | — | ₹102 Cr | — | BB | Watch | CARE |
| Unsecured redeemable (RWD) | Other | — | ₹945 Cr | — | BB | Other | CARE |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE039A09NZ3 | — | Debentures & bonds | 8.75% | — | — | ₹7.70 Cr | — | Not stated |
| INE039A09OA4 | — | Debentures & bonds | 8.75% | — | — | ₹2.60 Cr | — | Not stated |
| INE039A09OG1 | — | Debentures & bonds | 9.16% | — | — | ₹31.0 Cr | — | Not stated |
| INE039A09OH9 | — | Debentures & bonds | 9.16% | — | — | ₹9.03 Cr | B+ | Not stated |
| INE039A09OW8 | — | Debentures & bonds | 8.72% | — | — | ₹17.3 Cr | — | Not stated |
| INE039A09OX6 | — | Debentures & bonds | 8.72% | — | — | ₹5.83 Cr | — | Not stated |
| INE039A09NW0 | — | Debentures & bonds | 10.75% | — | — | ₹102 Cr | — | Not stated |
| INE039A09OM9 | — | Debentures & bonds | 10.70% | — | — | ₹124 Cr | — | Not stated |
| INE039A09PU9 | Tax Free Bonds I OP B | Debentures & bonds | 8.76% | — | — | ₹145 Cr | — | Not stated |
| INE039A09NL3 | Watch with | Debentures & bonds | 10.75% | — | — | — | B+ | Not stated |
| INE039A09MC4 | — | Debentures & bonds | 9.75% | — | — | ₹250 Cr | BB | Not stated |
| INE039A09PI4 | — | Debentures & bonds | 10.12% | — | — | ₹19.6 Cr | BB | Not stated |
| INE039A09PJ2 | — | Other | 10.10% | — | — | ₹5.15 Cr | BB | Not stated |
| INE039A09PN4 | — | Other | 9.90% | — | — | ₹107 Cr | BB | Not stated |
| INE039A09PO2 | — | Other | 9.90% | — | — | ₹107 Cr | BB | Not stated |
| INE039A09PP9 | — | Debentures & bonds | 9.90% | — | — | ₹107 Cr | BB | Not stated |
| INE039A09PR5 | — | Debentures & bonds | 9.75% | — | — | ₹350 Cr | BB | Not stated |
| INE039A09PF0 | Oct Oct | Debentures & bonds | 9.95% | — | — | ₹5.41 Cr | BB | Not stated |
| INE039A09PA1 | Jun Jun | Other | 10.15% | — | — | ₹2.80 Cr | BB | Not stated |
| INE039A09PE3 | Sep Sep | Other | 10.05% | — | — | ₹8.20 Cr | BB | Not stated |
| INE039A09PM6 | non convertible bonds Nov Nov | Debentures & bonds | 9.90% | — | — | ₹107 Cr | BB | Not stated |
| INE039A09NP4 | Aug Aug | Other | 10.55% | — | — | ₹200 Cr | BB | Not stated |
| INE039A09NM1 | — | Debentures & bonds | 10.75% | — | — | ₹65.0 Cr | — | Withdrawn |
| INE039A09OU2 | Mar Mar | Other | 8.50% | — | — | ₹0 | BB | Withdrawn |
| INE039A09OV0 | Mar Mar | Other | 8.50% | — | — | ₹0 | BB | Withdrawn |
| INE039A09PT1 | Tax free bonds Mar Mar | Debentures & bonds | 8.39% | — | — | ₹0 | BB | Withdrawn |
| INE039A09NX8 | Dec Dec * | Other | 8.50% | — | — | ₹0 | BB | Withdrawn |
| INE039A09NY6 | Dec Dec * | Other | 8.50% | — | — | ₹0 | BB | Withdrawn |
| INE039A09OE6 | Feb Feb * | Other | 9.99% | — | — | ₹0 | BB | Withdrawn |
| INE039A09OF3 | Feb Feb * | Other | 9.09% | — | — | ₹0 | BB | Withdrawn |
| INE039A09OT4 | Mar Mar * | Other | 10.25% | — | — | ₹0 | BB | Withdrawn |
| INE039A09OK3 | Dec Dec * | Other | 10.60% | — | — | ₹0 | — | Withdrawn |
| INE039A09NS8 | Aug Aug * | Other | 10.50% | — | — | ₹0 | — | Withdrawn |
| INE039A09OR8 | Feb Feb * | Other | 10.25% | — | — | ₹0 | — | Withdrawn |
| INE039A09OD8 | Nov Nov * | Other | 10.60% | — | — | ₹0 | BB | Withdrawn |
| INE039A07868 | Structured secured NCD May Nov * | Debentures & bonds | 8.55% | — | — | ₹0 | BB | Withdrawn |
| INE039A09NJ7 | Aug Aug * | Debentures & bonds | 10.50% | — | — | ₹0 | — | Withdrawn |
| INE039A09NK5 | Aug Aug * | Other | 10.50% | — | — | ₹0 | BB | Withdrawn |
| INE039A08197 | Subordinated Bonds Aug Aug Rolled over | Subordinated debt | 10.55% | — | — | — | BB | Withdrawn |
| INE039A09NT6 | Oct Oct * | Subordinated debt | 10.60% | — | — | ₹0 | — | Withdrawn |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Bonds | — | Withdrawn |
| Commercial Paper | — | Withdrawn |
| Infrastructure Bonds | ₹73.4 Cr | CARE BB (Rating Watch with Developing Implications) |
| Long Term | — | Withdrawn |
| Non Convertible Debentures | ₹145 Cr | CARE BB (Rating Watch with Developing Implications) |
| Subordinated | ₹102 Cr | CARE BB (Rating Watch with Developing Implications) |
| Term Loan | — | Withdrawn |
| Term Loan | ₹200 Cr | CARE BB (Rating Watch with Developing Implications) |
| Unsecured Reedemable | ₹945 Cr | CARE BB (Rating Watch with Developing Implications) |
Lenders
| Fund-based - LT | Term Loan | Proposed |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Indicative long-term—
Indicative short-term—
Score—
LiquidityStretchedAgency: Stretched
DirectionStableAgency outlook: Developing
CARE rating · Aug 2026BB8 notches below indicative
Ratios, pillar scores and the indicative rating are part of Premium.
Instrument ratings
| Instrument | Type | Rated | Per criteria | Basis |
|---|---|---|---|---|
| crore) Continues to be on Infrastructure bonds (RWD) | Infrastructure bonds | BB CARE | BB | senior |
| debentures Continues to be on Subordinated bonds (RWD) 571.04) Continues to be o | Subordinated debt | BB CARE | BB | senior − 0 |
| (RWD) Continues to be on Subordinated | Subordinated debt | BB CARE | BB | senior − 0 |
| Tax free bonds Mar Mar RWD | Subordinated debt | BB CARE | BB | senior − 0 |
| Subordinated Bonds Aug Aug RWD | Subordinated debt | BB CARE | BB | senior − 0 |
| Aug Aug RWD | Subordinated debt | BB CARE | BB | senior − 0 |
| (RWD) Subordinated | Subordinated debt | BB CARE | BB | senior − 0 |
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 53% |
| Information on file | 67% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
Can it borrow more?Further bank funding difficult
Next rating action stable or better: 36% (Downgrade likely) · ML model on 4072 rating histories, AUC 0.666
Rated limits₹1,245 Cr
Not yet allocated—
Extra debt within 2.5× EBITDA—
Interest coverage—
Limit utilisation—
Open bank charges0 · —
- Credit outlook model: 36% chance the next rating action is stable or better
- Current rating B+ (below investment grade)
Rated limits by facility
Timeline
14 Sep 2026
₹2,000 cr raised
ICRA rationale
From the report
The GoI has infused capital of Rs. 2,000 crore over FY2020-FY2025, while no capital infusion was needed in FY2026 as the company was able to manage repayments through its cash flow.
14 Sep 2026
Cash & liquid funds ₹540 cr
ICRA rationale
From the report
Liquidity position: Stretched The company maintains sufficient liquidity to meet its near-term debt servicing obligations in FY2027, with cash and cash equivalents of ~Rs. 540 crore as on August 3, 2026 against debt repayments of ~Rs. 550 crore due during the remainder of the fiscal.
17 Aug 2026
New borrowing arranged (term loans)
CARE rationale
From the report
The company has not disbursed new loans in the last five fiscals ending March 31, 2026.
18 Aug 2025
New borrowing arranged (term loans)
CARE rationale
From the report
The company has not disbursed new loans in the last four fiscals ending March 31, 2025.
18 Aug 2025
₹1,000 cr raised through equity
CARE rationale
From the report
This improvement was driven by internal accruals of ₹44 crore and an equity infusion of ₹1,000 crore by the GoI in FY25.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Registered officeIFCI TOWER 61 NEHRU PLACE, NEW DELHI, IN-DL, 110019
GSTIN—
Email—
Websitehttps://www.ifciltd.com
Members / shareholders—
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Ifci Limited
Competitors10identified
Locations6most in India
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Bajaj Finserv |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | bajajfinserv.in | 2007 | Pune, India |
 Power Finance Corporation |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | pfc.gov.in | 1986 | New Delhi, India |
| Bajaj Finance |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | bajajfinserv.in | — | Pune, India |
 REC Limited |
Maharatna & Navratna PSUs · Public Sector (PSU) & Government | recindia.nic.in | 1997 | New Delhi, India |
 SHRI RAM FINANCE CORPORATION PRIVATE LIMITED |
NBFC, Lending & Housing Finance · Finance | shriramfinance.in | — | Raipur, Chhattisgarh, India |
 ADITYA BIRLA CAPITAL LIMITED |
General Insurance · Insurance | adityabirlacapital.com | — | Gujarat, India |
| CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED | · Finance | — | — | Chennai, Tamil Nadu, India |
 Muthoot Finance |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | muthootfinance.com | — | Ernakulam, India |
| NBFC, Lending & Housing Finance · Banking & Financial Services | irfc.co.in | — | Delhi, India | |
| ABANS FINANCIAL SERVICES LIMITED | Fintech, Broking & Market Infrastructure · Banking & Financial Services | — | — | Mumbai, Maharashtra, India |
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.