IIFL Finance Ltd Q4 FY26 Earnings Analysis

- Overall AUM growth expected at 20%-25% for FY '27 across segments (Page 22). - Home loan segment growth anticipated at 15%-18% (Pages 22, 26). - Disbursements in home loans planned at 24%-25% growth (Page 21). - Gold loan business expected to see strong growth if gold prices remain stable or consolidate (Page 11). - Microfinance segment showing significant asset quality improvement with collection efficiency peaking at 99.56%, aiding growth (Page 22). - Focus on affordable and emerging segments in housing finance expected to drive future growth (Page 10). - The company plans growth with a clear strategy and portfolio realignment visible from the recent quarter results (Pages 10, 26).

- AUM (Assets Under Management) growth expected around 20%-25% in FY '27 across segments. - Home loan segment growth targeted at 15%-18% AUM growth with disbursement growth of 24%-25%. - Credit cost expected to decline further by 50-60 basis points next financial year, targeting below 2%. - ROE internal target set at 18%-20% to be achieved in the next 2-3 years. - Operating expenses normalized after a one-time INR 22.5 crore labor code charge. - Improvement in asset quality and strong collections expected to contribute to better profitability. - Overall, consistent execution of strategy, portfolio realignment, and diversification should drive steady improvement in earnings and profits.

- No capital raising plan has been announced at this stage; the company is monitoring the situation carefully. (Page 7) - The company remains open to raising capital when appropriate; no current urgency for equity issuance. (Page 7) - The company aims to maintain leverage around 4-4.5x and capital adequacy closer to 20%. (Page 7) - Growth in gold loans depends on the ability to do co-lending and direct assignments; otherwise, equity may need to be raised. (Page 19) - No immediate capital raising is planned, but the company is evaluating based on growth and regulatory environment. (Page 7)

- Currently, IIFL Finance Limited has **no announced plans for capital raising** (equity) as of the call date. - The company is **monitoring the situation carefully** and remains open to raising capital when appropriate. - Their strategy includes managing leverage around 4-4.5 times and targeting capital adequacy close to 20%; currently, the capital adequacy is slightly lower. - For growth in the gold loan segment, the company intends to rely on **co-lending and direct assignment (DA) with banks** to sustain growth without immediate equity raise. - If co-lending/DA does not provide sufficient capital relief, raising equity may become necessary. - No immediate urgency for equity raising is indicated; they might manage without it for another 2-3 quarters depending on conditions.

The provided transcript and document pages do not mention or provide details about the current or expected order book or pending orders for IIFL Finance Limited. The discussion primarily revolves around: - Asset Under Management (AUM) growth expectations (15% for housing loans). - Segment-wise growth including home finance and gold loans. - Capital adequacy and borrowing strategies. - Income tax special audit update. - Changes in gold loan tonnage and book growth. - Asset quality and NPA levels. - Operational expenses and labor code impact. - No specific information on orders, order book, or pending contracts is provided. Therefore, no data on current or expected order book or pending orders can be extracted from the document.