Arthneeti

IIFL Capital Services Q2 FY27 Share Price & Earnings Call Analysis

₹347.75+0.45% today
Market cap
₹10,966 Cr
P/E
19.25
ROE
16.20%
PEG
0.86
Price to sales
4.51
Debt to equity
0.59
52W high / low
₹396 / ₹244
Sales growth (5Y)
24.44%
EBITDA margin
35.04%
Net profit margin
18.07%
Promoter holding
30.67%
Sales (last year)
₹2,434 Cr

Incorporated in 1996 as a broking arm of the IIFL Group, IIFL Securities Limited provides retail and institutional equities, financial products distribution, commodity broking, currency broking, investment banking, financial planning and wealth management services to retail and institutional customers across India. [1]

Guidance scorecard · Q2 FY27 call

What IIFL Capital's management guided
and where it ranks in Capital Markets

#22of 22 in
Capital Markets
Revenue0–10%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

0–10%
  • AUM growth expected to rebound next quarter after a relatively slower quarter, supported by net collections of about INR3,600 crores in financial product distribution (FPD).
  • Institutional broking and investment banking income showed a 27% quarter-on-quarter increase, indicating potential growth in these segments.
  • Retail broking revenue remained flat quarter-on-quarter, suggesting stability rather than growth in this segment.
  • SEBI margin regulations currently showing marginal impact on broking volumes; no significant volume decline expected in the near term.
  • Financial product distribution income declined due to seasonal and transactional factors but product-wise yield remains stable, indicating steady long-term prospects.

2 more points from IIFL Capital's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what IIFL Capital said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The company is in the process of a strategic investment by Fairfax India Holdings Corporation, which plans to increase its stake to at least 51% through a preferential equity investment of INR 2,000 crores and a mandatory open offer. This awaits…
  • The expected infusion from Fairfax will strengthen IIFL Capital’s capital base, supporting growth across capital markets, wealth management, asset management, and institutional equity.
  • The company is focused on growing its asset management business with product manufacturing plans including launching AIFs, PMS, a credit fund, and a late-stage fund, aiming for strategic expansion without losing open architecture.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what IIFL Capital said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what IIFL Capital said on the order book →

Full Q1 FY27 analysis
Full Capital Markets ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Capital Markets
on management's own guidance

  1. Nippon Life Ind.Good growth
    2
  2. BSEGood growth
    1
  3. Motil.Oswal.Fin.Good growth
    3
See all potential multibaggersWhere does IIFL Capital rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Capital Markets companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1BSE20–40%Flat₹1.37L Cr48.4
2Nippon Life Ind.20–40%Flat₹68,184 Cr41.6
3Motil.Oswal.Fin.20–40%Flat₹63,771 Cr32.2
420–40%Flat₹31,481 Cr29.1
520–40%Flat₹15,334 Cr43.8
620–40%Flat₹12,638 Cr51.6

Sign up free to see every company in the sector ranking and track IIFL Capital.

Pro shows every company guiding 40%+ revenue growth →Full Capital Markets ranking

IIFL Capital announcements

All announcements →

Financials of IIFL Capital

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

IIFL Capital

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +30.97%30.91%30.88%30.79%30.72%30.70%31.02%30.98%30.93%30.87%30.67%30.49%
FIIs +15.54%15.18%17.51%19.00%19.12%18.98%17.24%16.93%16.51%16.33%15.34%15.37%
DIIs +3.29%3.37%3.18%3.70%3.99%4.31%4.92%5.04%5.39%5.56%4.72%4.88%
Public +50.20%50.55%48.43%46.52%46.18%46.02%46.84%47.07%47.17%47.24%49.28%49.27%
No. of Shareholders64,30770,00368,06168,26879,29977,53874,62274,00667,86566,51170,55867,976

Financials of IIFL Capital

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +507559686640645583537617572586644631714
Expenses +348318350340379337351396359396421406424
Operating Profit159240337300266245186221213190224226291
OPM %31%43%49%47%41%42%35%36%37%32%35%36%41%
Other Income +272318458643663-251341090-24
Interest30435444484543405353636075
Depreciation16186312131416161517171718
Profit before tax140203237248264250163228120254155239174
Tax %23%26%24%26%22%21%22%23%29%26%26%23%27%
Net Profit +10815118118220519712817685188115184127
EPS in Rs3.524.885.845.916.646.364.135.662.726.013.685.874.02

Financials of IIFL Capital

Profit & Loss

Annual income statement trend

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +9338707588411,2951,3612,2172,5202,5082,576
Expenses +4914614324877498861,2841,4051,5691,646
Operating Profit4414093263545464759331,115940930
OPM %47%47%43%42%42%35%42%44%37%36%
Other Income +146134272210144795210
Interest1451151035010277150183213251
Depreciation374255466367114556568
Profit before tax274258301285402341683925756822
Tax %34%34%22%23%24%27%25%23%25%
Net Profit +181171234220306250513713564614
EPS in Rs96.4791.587.327.2710.078.1916.6422.9818.0219.58
Dividend Payout %0%0%27%14%30%37%18%13%17%

Financials of IIFL Capital

Balance Sheet

Capital structure and asset base

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital0.000.006461616162626263
Reserves5606678169071,1211,2891,7252,4453,0033,400
Borrowings +1,0977594592926074861,1549371,8212,251
Other Liabilities +1,2051,6241,0952,2854,2523,4014,9344,5114,6716,416
Total Liabilities2,8623,0502,4343,5446,0415,2377,8757,9569,55812,131
Fixed Assets +512393402403482440379388295282
CWIP8486130132311211
Investments1591402317422890159486390799
Other Assets +2,1072,4311,6712,9365,3294,7077,3357,0808,87211,049
Total Assets2,8623,0502,4343,5446,0415,2377,8757,9569,55812,131

Financials of IIFL Capital

Cash Flows

Operating, investing and financing cash movement

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-110587352152795-793-118871-1,070
Cash from Investing Activity +-118021148-86163-74-177314
Cash from Financing Activity +462-494-514-361108-296430-490568
Net Cash Flow23493-141-62817-925239204-187
Free Cash Flow-20852742389822-798-138922-936
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-0%166%122%59%161%-146%7%96%-92%

Financials of IIFL Capital

Ratios

Working capital efficiency and return ratios

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1010161586879
Inventory Days
Days Payable
Cash Conversion Cycle1010161586879
Working Capital Days-409-522-239-498-891-551-497-346-339
ROCE %24%22%25%32%23%35%33%21%

Guidance history

How IIFL Capital's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →0–10%FlatPlannedPlanned—
Q4 FY26 call →20–40%FlatPlanned——
Q3 FY26 call →—Flat———
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

33out of 100

Momentum score · price trend

33 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+3.2%63%
Last 6 months+11.3%68%
Last 3 months+3.6%70%

The price is 21.8% below its all-time high of ₹444.55 (18 Oct 2024). Stocks more than 20% below their peak have their score halved, so 66 became 33.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For IIFL Capital: 0.4 × 63 + 0.4 × 68 + 0.2 × 70 = 66, halved to 33 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What IIFL Capital's management said in earlier quarters

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