IDFC First Bank Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 47.2% • Treasury: 30.1% • Corporate/ Wholesale Banking: 11.8%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 27.2% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 15.6%
- Asset quality is healthy - gross NPA of just 1.6%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 153.1% YoY, showing strong momentum
- Company has delivered good sales growth of 20.5% CAGR over last 5 years
CONS
- A large part of profit comes from other income (435.7% of PBT)
- Promoter holding has decreased over last 2 years: -37.4pp
- Weak return ratios for a lender: 3Y avg ROA 0.7%
- Equity base is being diluted - shares outstanding up 30.0%
- Operating margins have contracted to 17.7% from 22.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 708.00 | 13.81 | 1091323.88 | 2.19 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1379.15 | 17.65 | 989980.04 | 0.87 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 418.70 | 20.52 | 416508.36 | 0.16 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1247.50 | 13.98 | 388399.91 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 83.44 | 9.63 | 89718.04 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 344.40 | 18.18 | 85149.33 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1058.00 | 43.57 | 79454.72 | 0.09 | 7959.53 | 1270.31 | 53027.42 | 1111.10 | 14.17 | 56.24 |
| INDUSINDBK | 977.80 | 57.61 | 76184.77 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.20 | 32.24 | 74319.14 | 0.29 | 1147.82 | 153.12 | 11051.09 | 14.61 | 5.42 | 38.45 |
| YESBANK | 23.47 | 19.52 | 73668.68 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 412.80 | 71.21 | 64022.78 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| KARURVYSYA | 333.85 | 11.76 | 32273.73 | 0.78 | 755.70 | 44.92 | 3049.42 | 18.72 | 23.62 | 71.82 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6,869 | 7,356 | 7,880 | 8,220 | 8,789 | 8,957 | 9,343 | 9,413 | 9,642 | 9,937 | 10,417 | 10,553 | 11,051 | |
| Interest Expended | 3,122 | 3,406 | 3,592 | 3,750 | 4,093 | 4,169 | 4,440 | 4,505 | 4,709 | 4,824 | 4,924 | 4,876 | 5,077 |
| Net Interest Income | 3,746 | 3,951 | 4,287 | 4,470 | 4,695 | 4,788 | 4,902 | 4,908 | 4,933 | 5,113 | 5,493 | 5,677 | 5,974 |
| 1,364 | 1,410 | 1,517 | 1,642 | 1,574 | 1,727 | 1,780 | 1,895 | 2,227 | 1,891 | 2,125 | 1,630 | 2,310 | |
| Total Income | 0 | 0 | 0 | 0 | 10,363 | 10,684 | 11,123 | 11,308 | 11,869 | 11,828 | 12,542 | 12,183 | 13,361 |
| Operating Expenses | 0 | 0 | 0 | 0 | 44,224 | 45,386 | 49,223 | 50,083 | 49,298 | 51,287 | 56,081 | 62,372 | 5,658 |
| Operating Profit | 0 | 0 | 0 | 0 | 18,470 | 19,770 | 17,601 | 17,948 | 22,303 | 18,756 | 20,095 | 10,702 | 2,626 |
| Provisions & Contingencies | 0 | 0 | 0 | 0 | 9,944 | 17,319 | 13,379 | 14,505 | 16,591 | 14,519 | 13,983 | 8,692 | 1,144 |
| Profit before Tax | 996 | 983 | 930 | 948 | 853 | 245 | 422 | 344 | 571 | 424 | 611 | 201 | 1,482 |
| Tax % | 26.57% | 24.01% | 21.26% | 22.83% | 24.63% | 13.53% | 19.42% | 14.15% | 20.60% | 17.92% | 21.68% | -64.51% | 22.53% |
| Net Profit | 0 | 0 | 0 | 0 | 643 | 212 | 340 | 296 | 453 | 348 | 479 | 331 | 1,148 |
| EPS | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30,325 | 36,502 | 40,549 | — | |
| Interest Expended | 6,515 | 7,126 | 8,743 | 10,228 | 8,585 | 7,465 | 10,091 | 13,870 | 17,208 | 19,333 | 19,701 |
| Net Interest Income | -6,515 | -7,126 | -8,743 | -10,228 | -8,585 | -7,465 | -10,091 | 16,455 | 19,294 | 21,216 | — |
| 1,019 | 1,120 | 852 | 1,722 | 2,211 | 3,173 | 4,467 | 5,932 | 6,977 | 7,874 | 7,956 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,257 | 43,478 | 48,422 | 49,914 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16,148 | 18,892 | 21,904 | — | |
| Operating Profit | -6,515 | -7,126 | -8,743 | -10,228 | -8,585 | -7,465 | -10,091 | 6,239 | 7,379 | 7,186 | — |
| -1,475 | 148 | 566 | 3,190 | 2,746 | 3,252 | 2,187 | 2,382 | 5,515 | 5,379 | — | |
| Profit before Tax | 1,514 | 1,135 | -3,210 | -2,346 | 519 | 175 | 3,331 | 3,857 | 1,864 | 1,807 | 2,717 |
| Tax % | 0.00% | 0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 0.00% | 23.72% | 20.05% | 10.87% | 15.18% |
| Net Profit | 1,063 | 955 | -1,880 | -2,843 | 483 | 132 | 2,485 | 2,942 | 1,490 | 1,611 | 2,305 |
| EPS | 3 | 3 | -5 | -6 | 1 | 0 | 4 | 4 | 2 | 2 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 20%
- 3 Years:
- 21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 27%
- 3 Years:
- -13%
STOCK PRICE CAGR
- 10 Years:
- 3%
- 5 Years:
- 13%
- 3 Years:
- -3%
- 1 Year:
- 19%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 6%
- 3 Years:
- 6%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 3,399 | 3,404 | 4,782 | 4,810 | 5,676 | 6,218 | 6,618 | 7,070 | 7,322 | 8,602 |
| 11,277 | 11,870 | 13,418 | 10,594 | 12,224 | 14,848 | 19,192 | 25,145 | 30,685 | 38,514 | |
| 40,098 | 48,039 | 70,354 | 65,079 | 88,536 | 1,05,540 | 1,44,470 | 2,00,570 | 2,52,010 | 2,94,312 | |
| 50,262 | 57,287 | 69,983 | 57,397 | 45,786 | 52,963 | 57,212 | 50,936 | 38,984 | 36,633 | |
| Other Liabilities & Provisions | 7,027 | 5,781 | 8,563 | 11,279 | 10,849 | 10,561 | 12,353 | 12,430 | 14,759 | 21,426 |
| Total Liabilities | 1,12,064 | 1,26,382 | 1,67,099 | 1,49,159 | 1,63,072 | 1,90,146 | 2,39,882 | 2,96,210 | 3,43,909 | 3,99,775 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 2,995 | 3,021 | 4,101 | 3,348 | 4,670 | 11,281 | 10,562 | 10,988 | 13,985 | 11,311 | |
| Balances with Banks & Money at Call | 2,145 | 1,856 | 5,425 | 814 | 1,104 | 4,421 | 3,216 | 1,493 | 1,114 | 1,456 |
| 50,164 | 60,904 | 58,245 | 45,174 | 45,182 | 45,935 | 60,913 | 74,500 | 80,505 | 85,646 | |
| 49,402 | 52,165 | 86,302 | 85,595 | 1,00,550 | 1,17,858 | 1,51,795 | 1,94,592 | 2,33,113 | 2,80,391 | |
| 793 | 797 | 940 | 999 | 1,231 | 1,308 | 1,914 | 2,580 | 2,663 | 2,513 | |
| 6,560 | 7,636 | 12,051 | 13,153 | 10,271 | 9,264 | 11,263 | 11,962 | 12,456 | 18,346 | |
| Total Assets | 1,12,064 | 1,26,382 | 1,67,099 | 1,49,159 | 1,63,072 | 1,90,146 | 2,39,882 | 2,96,210 | 3,43,909 | 3,99,775 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14,128 | -5,978 | 17,364 | 10,966 | 14,042 | 2,679 | 3,563 | 11,543 | 14,465 | 6,817 | |
| Cash from Investing | -4,918 | -1,027 | -1,365 | -3,790 | -2,833 | -2,960 | -11,996 | -9,887 | -3,478 | -14,143 |
| Cash from Financing | -6,974 | 6,742 | -12,220 | -12,539 | -9,598 | 10,211 | 6,509 | -2,954 | -8,668 | 4,994 |
| 2,236 | -263 | 3,779 | -5,363 | 1,610 | 9,929 | -1,924 | -1,298 | 2,319 | -2,333 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 3.00 | 2.58 | -3.99 | -5.91 | 0.85 | 0.21 | 3.75 | 4.16 | 2.04 | 1.87 |
| Book Value (₹) | 43.18 | 44.87 | 38.06 | 32.02 | 31.54 | 33.88 | 39.00 | 45.57 | 51.91 | 54.78 |
| Dividend per Share (₹) | 0.75 | 0.75 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | 0.25 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.84% | 5.87% | 5.60% |
| ROA % | 0.95% | 0.80% | -1.28% | -1.80% | 0.31% | 0.07% | 1.16% | 1.10% | 0.47% | 0.43% |
| ROE % | 7.24% | 6.38% | -11.23% | -16.92% | 2.90% | 0.68% | 10.60% | 10.14% | 4.24% | 3.78% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 72.13% | 71.91% | 75.30% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 47.25% | 46.91% | 49.82% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.25% | 0.15% | 0.12% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | 0.00% | -10.09% | -296.76% | -51.24% | 116.99% | -72.62% | 1778.15% | 18.41% | -49.35% | 8.07% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.92% | 5.53% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 18.11x | 27.00x | 31.41x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.65x | 1.06x | 1.07x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.46% | 0.42% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - IDFC First Bank Limited has informed the Exchange regarding Allotment of 486713 Shares.
2026-09-03 - IDFC First Bank Limited has informed the Exchange about General Updates
2026-09-02 - IDFC First Bank Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-31 - IDFC First Bank Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026
2026-08-27 - IDFC First Bank Limited has informed the Exchange about Credit Rating- New
2026-08-25 - IDFC First Bank Limited has informed the Exchange about Schedule of Analysts/ Institutional Investors meet(s) - Intimation
2026-08-24 - IDFC First Bank Limited has informed the Exchange about General Updates
2026-08-21 - IDFC First Bank Limited has informed the Exchange regarding Allotment of 489934 Shares.
2026-08-21 - IDFC First Bank Limited has informed the Exchange about Credit Rating
News
Recent coverage and analyst commentary for IDFCFIRSTB
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