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I R F C share price & results

I R F C· Financial Services

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Government-owned dedicated financing arm of Indian Railways, funding rolling stock and rail infrastructure.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue7,866 ₹ crore+23.4% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating marginUnavailable—Operating profit / revenueQuarter to Sept 2026Not in the filed figures for the quarter to sept 2026. No older figure is substituted.
Net profit1,958 ₹ crore+10.2% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity12.17 %+0.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow marginUnavailable—Fiscal yearFY ending Mar 2026Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)12.52 %−1.4 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

4 of 9 judged targets kept · 12 open · verdicts reflect calls analysed to Q2 FY27.

I R F C management guidance track record on Inve: 21 targets tracked across analysed earnings calls (4 achieved, 5 missed, 12 open).

TargetOriginal wordingSaidLatest callVerdict
Diversification ExecutionWe have a period of about two years to get that thing in place... to make sure that we diversify our businesses.Q4 FY24Q2 FY27:Target remains achieved. IRFC 2.0 execution continues in H2 FY27 with pipeline disbursements ready across metros, ports, renewable energy, thermal power, Gencos, and road linkages.
Call transcript, Q2 FY27 · 16 Oct 2026		Achieved
New Business NIMIt could be higher. Yes, definitely, it could be higher. [than 35-40 bps]Q4 FY24Q2 FY27:Management states that its strategy on non-railway lending is to earn a minimum margin of 85-90 bps (INR 0.85-0.90), or 2 to 3.5x traditional railway margins, confirming spreads remain below the earlier >2% target.
Call transcript, Q2 FY27 · 16 Oct 2026		Missed
AUMSometime in FY '27, we should cross INR5 lakh mark of our asset under management.
Call transcript, Q1 FY26 · 23 Jul 2025		Q1 FY26Q2 FY27:Management stands firmly by the ₹5 lakh crore AUM target for FY27 end and indicates it could potentially be reached by the end of Q3 FY27 as H2 disbursements materialize.
Call transcript, Q2 FY27 · 16 Oct 2026		On Track

Source: Inve Guidance Tracker for I R F C · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

5 of I R F C's 21 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 18 more targets are in the full ledger.

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Price

₹74.56 +0.22% · +₹0.16

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −39.7% 1Y

₹80₹100₹120Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q3 FY26 — 20 Jan 2026Q4 FY26 — 15 May 2026Q1 FY27 — 31 Jul 2026Q2 FY27 — 16 Oct 2026

1Y: ₹123.73 on 24 Oct 2025 → ₹74.56. High ₹133.64 (26 Dec 2025), low ₹74.3 (8 Oct 2026).

Previous close
₹74.4
Market cap
₹1.0L Cr
52-week range
₹74.3 – ₹133.64
One year
−39.60%
Price to earnings (TTM to Sept 2026)
13.65×
Return on equity (TTM to Sept 2026)
12.17%

Overview

Symbol
NSE:IRFC
Exchange
NSE
Currency
INR

What I R F C does

Based on the company's own presentations, annual report and earnings calls.

Indian Railway Finance Corporation (IRFC), established in 1986, is the dedicated market-borrowing arm of Indian Railways and an RBI-registered systemically important NBFC-ND-IFC. It raises funds from domestic and international capital markets and channels them to the Ministry of Railways (MoR) by financing the acquisition of rolling stock and leasing railway infrastructure and national projects under long-term cost-plus standard lease agreements. It earns the spread between its borrowing cost and lease/lending income, and under its 'IRFC 2.0' strategy is diversifying into lending to other CPSEs, state entities and the wider railway-linked infrastructure ecosystem.

Segments

  • Lease receivables - project assets
  • Rolling stock lease receivables
  • Advance against railway infrastructure assets
  • Loans to companies
Role in Indian Railways
Sole dedicated market-borrowing / financing arm of Indian Railways
Regulatory status
RBI-registered systemically important NBFC-ND-IFC
Government status
Navratna CPSE, majority-owned by Government of India via the Ministry of Railways
Credit rating
AAA (highest for an Indian issuer) from CRISIL, ICRA and CARE
Assets financed
Rolling stock (wagons, locomotives, coaches), railway project assets and national projects
Diversified borrowers
NTPC, NTPC Renewable Energy and RVNL; MoUs with DMRC, RITES, IIFCL, MMRDA, JNPT, VOCPA, SFCL and REMCL
Founded 1986Headquarters Lodhi Road, New Delhi Company website

How the price took the results

close before → close after

Q2 FY27
+1.7%
16 Oct
Q1 FY27
+0.3%
31 Jul
Q4 FY26
−1.3%
15 May
Q3 FY26
−3.9%
20 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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