Indian Railway Finance Corporation Ltd.
IRFCFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
14 transcript(s)/analyst meet(s) served; 2 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 14 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20210224 | 2020-12-31 | yes | |
| TRANSCRIPT | 20210824 | 2021-06-30 | yes | |
| TRANSCRIPT | 20220218 | 2021-12-31 | yes | |
| TRANSCRIPT | 20220530 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220818 | 2022-06-30 | yes | |
| TRANSCRIPT | 20230602 | 2023-03-31 | yes | |
| TRANSCRIPT | 20240528 | 2024-03-31 | yes | |
| TRANSCRIPT | 20250730 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241112 | 2024-09-30 | yes | |
| DUPLICATE | 20241112 | 2024-09-30 | no | |
| TRANSCRIPT | 20251023 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250128 | 2024-12-31 | yes | |
| TRANSCRIPT | 20260127 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250505 | 2025-03-31 | yes | |
| TRANSCRIPT | 20260521 | 2025-03-31 | yes | |
| TRANSCRIPT | 20260806 | 2025-06-30 | yes | |
| DUPLICATE | 20260521 | 2026-03-31 | no |
IRFC
files as a non-banking financial company. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | nbfc |
| Scope served | standalone |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 79.86 |
| 52-week range | 78.95 – 133.64 |
| Return 1M | -6.54% |
| Return 3M | -12.98% |
| Return 1Y | -36.41% |
| Return 3Y | 3.98% |
| Return 5Y | 258.12% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 8,261.00 |
| Other income | 130.00 |
| Total income | 8,391.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 5.00 |
| Finance costs | 6,421.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.83 | -0.02 |
| institutions foreign | 0.01 | 0.00 |
| institutions domestic | 0.04 | 0.01 |
| mutual funds | 0.00 | 0.00 |
| public | 0.17 | 0.02 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| DUPLICATE | 2026-03-31 | 2 |
| TRANSCRIPT | 2025-06-30 | 15 |
Financial statements
Filed results, standalone, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,810.00 | 6,218.00 | 6,236.00 | 6,679.00 | 6,767.00 | 6,745.00 | 6,474.00 | 6,766.00 | 6,900.00 | 6,763.00 | 6,723.00 | 6,915.00 | 6,372.00 | 6,661.00 | 7,336.00 | 8,261.00 |
| Other income | 1.00 | 4.00 | 36.00 | 2.00 | 0.00 | 0.00 | 4.00 | 0.00 | 1.00 | 3.00 | 1.00 | 3.00 | 0.00 | 58.00 | -7.00 | 130.00 |
| Total income | 5,810.00 | 6,222.00 | 6,273.00 | 6,681.00 | 6,767.00 | 6,745.00 | 6,478.00 | 6,766.00 | 6,900.00 | 6,766.00 | 6,724.00 | 6,918.00 | 6,372.00 | 6,719.00 | 7,329.00 | 8,391.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 4.00 | 2.00 | 4.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 4.00 | 4.00 | 4.00 | 6.00 | 5.00 | 7.00 | 5.00 |
| Finance costs | 4,059.00 | 4,554.00 | 4,895.00 | 5,091.00 | 5,181.00 | 5,104.00 | 4,725.00 | 5,155.00 | 5,249.00 | 5,095.00 | 4,996.00 | 5,124.00 | 4,544.00 | 4,812.00 | 5,524.00 | 6,421.00 |
| Depreciation and amortisation | 4.00 | 4.00 | 3.00 | 4.00 | 2.00 | 1.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 2.00 | 1.00 |
| Other expenses | 30.00 | 28.00 | 42.00 | 32.00 | 31.00 | 32.00 | 31.00 | 34.00 | 34.00 | 35.00 | 37.00 | 37.00 | 40.00 | 39.00 | 57.00 | 38.00 |
| Total expenses | 4,096.00 | 4,589.00 | 4,945.00 | 5,124.00 | 5,218.00 | 5,141.00 | 4,761.00 | 5,189.00 | 5,288.00 | 5,136.00 | 5,042.00 | 5,173.00 | 4,595.00 | 4,917.00 | 5,644.00 | 6,464.00 |
| Profit before exceptional items and tax | 1,714.00 | 1,633.00 | 1,328.00 | 1,557.00 | 1,550.00 | 1,604.00 | 1,717.00 | 1,577.00 | 1,613.00 | 1,631.00 | 1,682.00 | 1,746.00 | 1,777.00 | 1,802.00 | 1,684.00 | 1,927.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1,714.00 | 1,633.00 | 1,328.00 | 1,557.00 | 1,550.00 | 1,604.00 | 1,717.00 | 1,577.00 | 1,613.00 | 1,631.00 | 1,682.00 | 1,746.00 | 1,777.00 | 1,802.00 | 1,684.00 | 1,927.00 |
| Current tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit for the period | 1,714.00 | 1,633.00 | 1,328.00 | 1,557.00 | 1,550.00 | 1,604.00 | 1,717.00 | 1,577.00 | 1,613.00 | 1,631.00 | 1,682.00 | 1,746.00 | 1,777.00 | 1,802.00 | 1,684.00 | 1,927.00 |
| Other comprehensive income | 1.00 | 5.00 | -1.00 | 7.00 | 15.00 | 7.00 | 12.00 | 12.00 | -10.00 | -3.00 | -15.00 | 11.00 | -8.00 | 2.00 | -190.00 | 116.00 |
| Total comprehensive income | 1,715.00 | 1,639.00 | 1,327.00 | 1,563.00 | 1,565.00 | 1,611.00 | 1,729.00 | 1,589.00 | 1,603.00 | 1,628.00 | 1,667.00 | 1,757.00 | 1,769.00 | 1,804.00 | 1,495.00 | 2,043.00 |
| Earnings per share, basic | 1.31 | 1.25 | 1.02 | 1.20 | 1.20 | 1.23 | 1.32 | 1.21 | 1.23 | 1.25 | 1.29 | 1.34 | 1.36 | 1.38 | 1.29 | 1.47 |
| Earnings per share, diluted | 1.31 | 1.25 | 1.02 | 1.20 | 1.20 | 1.23 | 1.32 | 1.21 | 1.23 | 1.25 | 1.29 | 1.34 | 1.36 | 1.38 | 1.29 | 1.47 |
| Interest earned | 1,724.00 | 2,126.00 | 1,998.00 | 2,131.00 | 2,217.00 | 2,335.00 | 2,141.00 | 1,819.00 | 1,921.00 | 2,011.00 | 1,970.00 | 1,497.00 | 2,829.00 | 2,311.00 | 2,902.00 | 1,148.00 |
| Fees and commission income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net gain on fair value changes | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Rental income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Annual results, as filed
| Line | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|
| Revenue from operations | 15,770.00 | 20,299.00 | 23,892.00 | 26,645.00 | 27,152.00 | 27,285.00 |
| Other income | 0.00 | 2.00 | 41.00 | 11.00 | 4.00 | 53.00 |
| Total income | 15,771.00 | 20,302.00 | 23,933.00 | 26,656.00 | 27,156.00 | 27,338.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 8.00 | 11.00 | 13.00 | 11.00 | 14.00 | 21.00 |
| Finance costs | 11,237.00 | 14,075.00 | 17,447.00 | 20,101.00 | 20,495.00 | 20,005.00 |
| Depreciation and amortisation | 4.00 | 14.00 | 14.00 | 9.00 | 5.00 | 6.00 |
| Other expenses | 103.00 | 111.00 | 124.00 | 126.00 | 140.00 | 172.00 |
| Total expenses | 11,355.00 | 14,211.00 | 17,596.00 | 20,244.00 | 20,654.00 | 20,329.00 |
| Profit before exceptional items and tax | 4,416.00 | 6,090.00 | 6,337.00 | 6,412.00 | 6,502.00 | 7,009.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 4,416.00 | 6,090.00 | 6,337.00 | 6,412.00 | 6,502.00 | 7,009.00 |
| Current tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit for the period | 4,416.00 | 6,090.00 | 6,337.00 | 6,412.00 | 6,502.00 | 7,009.00 |
| Other comprehensive income | 1.00 | -0.00 | 5.00 | 40.00 | -16.00 | -185.00 |
| Total comprehensive income | 4,418.00 | 6,089.00 | 6,342.00 | 6,452.00 | 6,486.00 | 6,824.00 |
| Earnings per share, basic | 3.66 | 4.66 | 4.85 | 4.91 | 4.98 | 5.36 |
| Earnings per share, diluted | 3.66 | 4.66 | 4.85 | 4.91 | 4.98 | 5.36 |
| Interest earned | 3,944.00 | 7,295.00 | 7,547.00 | 8,824.00 | 7,720.00 | 9,540.00 |
| Fees and commission income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net gain on fair value changes | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend income | 0.00 | 1.00 | 1.00 | 1.00 | 0.00 | 1.00 |
| Rental income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 465,198.00 | 491,147.00 | 497,014.00 | 485,082.00 | 494,348.00 | 488,835.00 | 503,996.00 | 516,676.00 |
| Property, plant and equipment | 30.00 | 18.00 | 21.00 | 21.00 | 19.00 | 14.00 | 14.00 | 18.00 |
| Capital work-in-progress | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 2.00 | 1.00 | 5.00 | 1.00 | 1.00 | 1.00 | 2.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash and cash equivalents | 8,723.00 | 206.00 | 9,702.00 | 23.00 | 12,064.00 | 5,680.00 | 18,750.00 | 211.00 |
| Total equity and liabilities | 465,198.00 | 491,147.00 | 497,014.00 | 485,082.00 | 494,348.00 | 488,835.00 | 503,996.00 | 516,676.00 |
| Equity | 43,549.00 | 45,470.00 | 47,684.00 | 49,179.00 | 51,464.00 | 52,668.00 | 56,194.00 | 56,749.00 |
| Equity share capital | 13,069.00 | 13,069.00 | 13,069.00 | 13,069.00 | 13,069.00 | 13,069.00 | 13,069.00 | 13,069.00 |
| Other equity | 30,481.00 | 32,402.00 | 34,615.00 | 36,110.00 | 38,396.00 | 39,599.00 | 43,125.00 | 43,680.00 |
| Total liabilities | 421,649.00 | — | — | — | — | 436,167.00 | 447,802.00 | 459,928.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 10,008.00 | -28,584.00 | 21,444.00 | 7,914.00 | 21,973.00 | 8,230.00 | 17,287.00 | -27,026.00 |
| Net cash from investing activities | -0.00 | 0.00 | -4.00 | -8.00 | 0.00 | -0.00 | -0.00 | -3.00 |
| Net cash from financing activities | -1,432.00 | 28,643.00 | -11,944.00 | -8,046.00 | -9,932.00 | -2,572.00 | -4,217.00 | 21,560.00 |
| Purchase of property, plant and equipment | 0.00 | 1.00 | 4.00 | 8.00 | 0.00 | 1.00 | 1.00 | 13.00 |
| Net increase in cash | 8,576.00 | 60.00 | 9,496.00 | -140.00 | 12,041.00 | 5,658.00 | 13,070.00 | -5,469.00 |
| con:CFO.BEFORE_TAX | 9,999.00 | -28,853.00 | 21,445.00 | 7,890.00 | 22,008.00 | 8,276.00 | 17,281.00 | -27,241.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | -1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1.00 |
| con:TAX_PAID.OPERATING | -10.00 | -269.00 | 1.00 | -24.00 | 35.00 | 46.00 | -7.00 | -215.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 86.36 | 86.36 | 86.36 | 86.36 | 86.36 | 86.36 | 86.36 | 86.36 | 86.36 | 86.36 | 0.86 | 0.86 | 0.85 | 0.83 |
| Domestic institutions | 2.62 | 2.03 | 1.63 | 1.16 | 0.89 | 1.07 | 1.08 | 1.24 | 1.34 | 1.46 | 0.01 | 0.02 | 0.03 | 0.04 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 0.25 | 0.00 | 0.00 | 0.00 | 0.00 |
| Insurance companies | 1.25 | 1.25 | 1.12 | 0.75 | 0.71 | 0.52 | 0.88 | 0.95 | 1.08 | 1.15 | 0.01 | 0.01 | 0.03 | 0.04 |
| Foreign institutions | 1.14 | 1.13 | 1.13 | 1.15 | 1.08 | 1.11 | 1.09 | 1.01 | 0.98 | 0.93 | 0.01 | 0.01 | 0.01 | 0.01 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 13.64 | 13.64 | 13.64 | 13.64 | 13.64 | 13.64 | 13.64 | 13.64 | 13.64 | 13.64 | 0.14 | 0.14 | 0.15 | 0.17 |
| Non-institutional | 9.87 | 10.48 | 10.87 | 11.33 | 11.67 | 11.45 | 11.46 | 11.39 | 11.32 | 11.24 | 0.11 | 0.11 | 0.11 | 0.12 |
| Shares outstanding | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 | 13068506000 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Ministry of Railways | Promotor | Any other transaction, Dividend paid | 133,975,700,000.00 | 3 |
| Rail Vikas Nigam Ltd | Entity under control of Ministry o | Any other transaction | 7,024,200,000.00 | 2 |
| RITES Ltd | Entity under control of Ministry o | Any other transaction | 68,100,000.00 | 1 |
| Mrs. Shelly Verma, Director Finance | Key Managerial Personal | Remuneration | 9,900,000.00 | 1 |
| Mr. Sunil Kumar Goel, CFO | Key Managerial Personal | Remuneration | 5,800,000.00 | 1 |
| Mr. Vijay Babulal Shirode , Company Secretary | Key Managerial Personal | Remuneration | 4,500,000.00 | 1 |
| RailTel Corporation of India Ltd | Entity under control of Ministry o | Any other transaction | 1,700,000.00 | 1 |
| Mrs. Sheela Pandit | Non- Official Independent Director | Any other transaction | 400,000.00 | 1 |
| Mr. Vallabhbhai Maneklal Patel | Non- Official Independent Director | Any other transaction | 300,000.00 | 1 |
| IRCON International Ltd. | Entity under control of Ministry o | Any other transaction | 0.00 | 1 |
| Rail Land Development Authority | Entity under control of Ministry o | Any other transaction | 0.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-05-21 | Q4FY26 | PRIVATE LIMITED | Read the call |
| 2026-01-27 | Q3FY25 | Read the call | |
| 2025-10-23 | Q2FY25 | Read the call | |
| 2025-07-30 | Q1FY25 | (IRFC), LIMITED | Read the call |
| 2025-05-05 | Q4FY25 | Read the call | |
| 2025-01-28 | Q3FY25 | Read the call | |
| 2024-11-12 | Q2FY25 | LIMITED, MANAGING DIRECTOR, IRFC | Read the call |
| 2024-05-28 | Q4FY24 | (IRFC), RAILWAY FINANCE CORPORATION (IRFC) | Read the call |
| 2023-06-02 | Q4FY23 | DIRECTOR, (ADDL CHARGE)-CHIEF EXECUTIVE, FINANCE CORPORATION LIMITED, LIMITED | Read the call |
| 2022-08-18 | Q1FY23 | Read the call | |
| 2022-05-30 | Q4FY22 | LIMITED | Read the call |
| 2022-02-18 | Q3FY22 | Read the call | |
| 2021-08-24 | Q1FY22 | INDIAN RAILWAY FINANCE CORPORATION | Read the call |
| 2021-02-24 | Q3FY21 | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY21 | Q3FY22 | Q3FY25 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | So like it is about 3,75,000 crore to end of December 2020 then it will be nearing say it will be more than 4 lakh crore in the next financial year so… | Now, with the GST collections and the economy back on track in the current financial year thankfully, the government is in a better position fiscally … | Let us see what portion of CAPEX is funded by GBS and what portion of the CAPEX they want us to fund. | So, as I mentioned in my opening statement, that this year, I mean, this year, the GST collections were much better, the revenue position, the fiscal … | So this is the reason for a lesser EBR as compared to although the capex is going up year-after-year, but at the same time, budgetary support is also … | And the kind of infrastructure development that is going on in the railways and the kind of capex expenditure that is there, the capability of the Ind… | — | Overall, despite the geopolitical situation prevailing all over the world, we feel that the capex story of India is fully intact. |
| Capital allocation | I have a few questions sir we noticed that the CRAR is 433% while the NBFC mandate is I think if I am not wrong at 15%, what was the reason to raise 3… | Sir, one question is on your dividend policy. | This year, interim dividend was quite higher than what we paid last FY, and rest be assured if the PAT is growing, so dividends should also grow. | Sir I just have one question on the dividend policy I have written that we are governed by DIPAM guidelines of 30% PAT or 5% net worth. | Every year we are declaring a dividend of 30% of our profit, for our investors. | — | — | — |
| Costs | — | — | — | — | — | — | — | Indian Railway Finance Corporation (IRFC) May 15, 2026 There is railway siding there and all evacuation of fertilizers are taking place through the ra… |
| Debt and cash | And my last question was regarding the what was the idea of raising equity when in earlier years we were only distributing around 10% to 15% of our fr… | So, why is not IRFC trying to deleverage its balance sheet by InvITizing or securitizing and taking things of the balance sheet so that we Indian Rail… | Sir, is there a long-term dividend payout policy that investors can anchor to, especially given the company's stable cash flow and nil credit costs? | — | — | — | — | And based on the Ind AS 109, we have accounted on the basis of cash flow hedge. |
| Demand | No generally the bulk of the demand over the years we have seen comes in Q4 and even in Q4 also it comes in the last couple of months and principally … | — | 700 crores ticket we have already done with NTPC, and many more are in pipelines. | — | — | And therefore, when we see that the lending to the Indian Railways in the year '23-'24 had dried up, that effect will not be perceived immediately, be… | So yes, there are many things in pipelines. | So when we started FY26, there was zero pipeline. |
| Guidance | Sir second question is that we discussed about the hedging that some portion we hedge, and some portion is not hedged based on the guidance of the pro… | We expect a very healthy growth as far as IRFC’s disbursals are concerned to Indian Railways because of the National Rail Plan which is already been t… | So, that's the guidance I want to give you, without giving any numbers. | So, first one is, can you please guide on your incremental borrowing mix for the next couple of quarters? | Are you getting any guidance that it will remain at the level at which it is in FY 23 or it's going to have some better growth? | — | What we set for ourselves in Q3 results, we are already crossed many bridges, and we are moving ahead quicker than what we expected to do. | I'm very happy to share that we promised with a guidance that would be sanctioning more than INR60,000 crores of assets, and we'll be disbursing nearl… |
| Margin | So therefore, another Indian Railway Finance Corporation Limited February 15,2021 important point is that since my margins as you said just now is onl… | As far as the NIM is concerned, yes it would have this kind of an organic growth that we are having right now, in future also and the likelihood of th… | Let us see how our product mix goes ahead every year because year by year now we are focusing on more lucrative businesses where we do more high margi… | Sir my second question is regarding, again, Q4 financials only Sir on a quarter- on-quarter basis, and in fact, also on a Y-on-Y basis, our cost of fu… | See, actually, we calculate our lease rental based on our weighted average cost of capital plus the margin. | See, if you see the -- our accounting model, see, what happens when we are -- during the moratorium period, when we make a disbursement, we just take … | And this is coming with better margin than what I used to get from the railways. | Indian Railway Finance Corporation (IRFC) May 15, 2026 The biggest indicator is the net interest margin. |
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| Pricing | — | Sure, but do you see the NIM sustaining as the MOU renewal in such a contract basis from the way we can see that if they decreased their pricing for u… | — | — | And the ROE of Indian Railway Finance Corporation Limited May 29, 2023 14% for NBFC will never get a very high pricing from the market, because you're… | — | — | And pricing, we will be aligned with the market. |
| Revenue growth | — | — | Hello Sir, from the past three quarters, the results have been, the top line and bottom line have been more the same, stagnant. | Again I mean these things are very volatile and especially, I mean, you never know that the only thing that I will be able to tell you is that the exp… | So I meant from the what are the concerns in terms of, let's say the growth of the business, okay? | So after that -- after execution of the lease agreement, there will be a increase in the top line as well as in the finance cost. | And we see that going forward, we'll be having very healthy top line and bottom line quarter after quarter. | Now when we are embarking on next FY of this new Journey 2.0, we are obviously a little relaxed in a manner that we are confident that what we propose… |