Indian Railway Finance Corporation Ltd

Q2 FY24Finance

Indian Railway Finance Corporation Q2 FY24 earnings call: Revenue & Margins

Q2 FY24 investor presentation: what the company reported on revenue, margins and projects.

Price₹80

Market cap₹1.1L Cr

P/E14.8

Updated24 Sept 2026

Read5 min read

Based on Indian Railway Finance Corporation Ltd's Q2 FY24 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Revenue from Operations for HY ended 30th Sept 2023: INR 13,445.50 crore - Revenue from Operations for HY ended 30th Sept 2022: INR 11,437.24 crore - Year-on-year revenue growth: 17.56% (HY1 FY24 vs HY1 FY23) - Profit Before Tax for HY1 FY24: INR 3,106.45 crore (down 7.98% YoY) - No explicit outlook or guidance for future revenue or volume growth is stated in the presentation. EBITDA and Operating Margin: Not explicitly stated in the presentation; operating expenses are minimal (e.g., Operating Expenses as % of Total Income around 0.09% in HY1 FY24, Page 7), indicating high operating efficiency but no direct EBITDA or operating margin figures provided. - Profit (PAT) for the half year ended 30th Sept.

From Indian Railway Finance Corporation Ltd's Q2 FY24 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

Revenue from Operations for HY ended 30th Sept 2023: INR 13,445.50 crore
Revenue from Operations for HY ended 30th Sept 2022: INR 11,437.24 crore
Year-on-year revenue growth: 17.56% (HY1 FY24 vs HY1 FY23)
Profit Before Tax for HY1 FY24: INR 3,106.45 crore (down 7.98% YoY)

2 more points management made on revenue & sales performance

Profitability & Margins

EBITDA and Operating Margin: Not explicitly stated in the presentation; operating expenses are minimal (e.g., Operating Expenses as % of Total Income around 0.09% in HY1 FY24, Page 7), indicating high operating efficiency but no direct EBITDA or operating margin figures provided.
Profit (PAT) for the half year ended 30th Sept. 2023: INR 3,106.45 crore, a decrease of 7.98% year-on-year from INR 3,375.86 crore (Page 14 and Page 10).
Revenue from Operations grew by 17.56% year-on-year to INR 13,445.50 crore for HY1 FY24 (Page 10).

2 more points management made on profitability & margins

See what Indian Railway Finance Corporation Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

IRFC can fund any entity with backward or forward linkage to Indian Railways, including leasing of rolling stock other than MoR, funding railway infrastructure via State JVs, upcoming Dedicated Freight Lines, Semi/High-Speed Railway Corridors & High-speed train, Multi-Modal Logistics Parks, and renewable energy for railway network. (Page 11)
In-principle approval obtained for:
Finance lease of rolling stock for NTPC under General Purpose Wagon Investment Scheme (GPWIS) of MoR.

2 more points management made on capital expenditure plans

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Fundraising & Capital Structure

The presentation does not mention any new fundraising through equity; Equity Share Capital remains stable at INR 13,068.51 crore across periods.
Borrowings (other than debt securities) increased slightly from INR 1,88,696.65 crore (HY Sept 2022) to INR 1,92,577.23 crore (HY Sept 2023).
Debt Securities also increased from INR 1,98,019.23 crore (HY Sept 2022) to INR 2,13,855.41 crore (HY Sept 2023).
Total Financial Liabilities rose from INR 4,21,012.14 crore (HY Sept 2022) to INR 4,46,499.26 crore (HY Sept 2023).

2 more points management made on fundraising & capital structure

See what Indian Railway Finance Corporation Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation does not explicitly report any figures for order book, order inflow, or pending orders. The presentation primarily focuses on: - Assets Under Management (AUM), which as of 30th September 2023 stands at INR 4,66,171.88 crore. - Disbursements over fiscal years and half years, showing increasing trends. - Breakdown of AUM into categories such as Lease Receivables (Rolling Stock Asset 37.29%, Project Assets 13.16%), Advances against Railway Infrastructure Assets (48.49%), and Loans to RVNL (1.06%). No specific data or terminology regarding order book, order inflow, or pending orders is provided in the slides.

What Indian Railway Finance Corporation Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Indian Railway Finance Corporation Ltd Q2 FY24 results?

What is Indian Railway Finance Corporation Ltd share price analysis?

Indian Railway Finance Corporation Ltd currently shows a neutral. The stock trades at a P/E of 14.8 with a market cap of ₹106,508 Cr. Investors should review the full earnings analysis for detailed insights.

Is Indian Railway Finance Corporation Ltd planning capital expenditure?

IRFC can fund any entity with backward or forward linkage to Indian Railways, including leasing of rolling stock other than MoR, funding railway infrastructure via State JVs, upcoming Dedicated Freight Lines, Semi/High-Speed Railway Corridors & High-speed train, Multi-Modal Logistics Parks, and renewable energy for railway network.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.