IIFL Capital Services Ltd.

•

iiflsecurities.comBSE: 542773NSE: IIFLCAPS

Market Cap₹ 10,642 Cr.

Current Price

High / Low₹ 411 / 240

Stock P/E18.7

Book Value₹ 98

Price to Book2.62

Dividend Yield0.89 %

ROCE23.3 %

ROE21.2 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Capital Market Activity: 84.0% • Insurance Broking: 10.8% • Facilities & Ancillary: 5.2%

AI Sector View

AI GENERATED

Financial Services

Buy

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.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 20.7% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 30.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
Solid return on assets for a lender - ROA of 6.5%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 25.1% CAGR over last 5 years

CONS

Valuation is stretched - P/E of 18.7 is well above its own 5-year median (9.5)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Stock Broking

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MCX	3340.05	55.24	85168.55	0.24	413.44	103.47	702.00	88.10	48.10	70.40
2.	MOTILALOFS	1023.00	31.12	61617.67	0.59	1273.71	9.53	3425.76	25.49	12.68	57.49
3.	360ONE	1096.25	35.40	44679.26	1.09	330.53	16.11	1226.09	26.85	12.28	63.01
4.	NUVAMA	1784.20	30.39	32909.41	1.56	305.64	15.83	1376.22	22.59	17.52	52.80
5.	ANGELONE	299.40	26.52	27366.25	1.35	2313.98	1921.51	14296.91	1153.53	14.87	33.92
6.	CHOICEIN	749.85	70.28	16704.90	0.00	60.61	26.37	309.79	32.46	19.43	33.83
7.	IIFLCAPS	337.65	18.67	10642.01	0.89	184.16	4.92	631.48	3.13	23.27	35.76
8.	SHAREINDIA	189.75	11.42	4152.21	0.84	124.41	47.45	448.09	31.25	21.00	44.76
9.	ARSSBL	505.70	24.57	3189.27	0.99	23.35	2.35	246.10	22.37	19.72	39.54
10.	MONARCH	370.95	16.24	2941.94	0.27	45.18	-0.15	90.89	-7.25	33.26	66.00
11.	GEOJITFSL	80.02	30.80	2233.54	1.87	19.83	-30.83	160.40	7.46	9.35	20.55
12.	ALGOQUANT	63.80	39.47	1793.39	0.00	164.80	3610.04	778.70	1328.81	33.57	33.64

Detailed Comparison with:

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
	405	503	554	680	633	639	577	532	612	568	583	642	631
	271	348	318	350	340	379	337	351	396	359	396	421	482
Operating Profit	138	159	240	337	300	266	245	186	221	213	190	224	226
OPM %	34.05%	31.66%	43.41%	49.51%	47.30%	41.67%	42.51%	34.95%	36.10%	37.52%	32.65%	34.84%	35.76%
Other Income	2	27	23	18	4	58	64	36	63	-25	134	10	90
Interest	21	30	43	54	44	48	45	43	40	53	53	63	60
Depreciation	16	16	18	63	12	13	14	16	16	15	17	17	17
	102	140	203	237	248	264	250	163	228	120	254	155	239
Tax %	27.17%	22.84%	25.92%	23.96%	26.39%	22.10%	21.14%	21.59%	22.86%	28.98%	26.11%	25.55%	23.04%
Net Profit	0	0	0	0	182	205	197	128	176	85	188	115	184
	2	4	5	6	6	7	6	4	6	3	6	4	1

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	835	835	724	791	1,232	1,352	2,161	2,405	2,420	2,424
	486	457	477	517	749	895	1,289	1,405	1,569	1,658
Operating Profit	349	378	247	274	484	457	872	1,000	851	766
OPM %	41.77%	45.25%	34.07%	34.67%	39.25%	33.83%	40.36%	41.58%	35.17%	31.61%
	112	40	213	107	84	27	75	162	183	210
Interest	145	115	103	50	102	77	150	183	213	229
Depreciation	37	42	55	46	63	67	114	55	65	65
Profit before Tax	274	258	301	285	402	341	683	925	756	768
Tax %	33.98%	33.57%	22.40%	22.63%	23.94%	26.71%	24.80%	22.90%	25.47%	25.49%
Net Profit	181	171	234	220	306	250	513	713	564	572
EPS	5.67	5.37	7.31	6.91	9.94	8.16	16.64	22.98	18.02	—
Dividend Payout %	—	—	27.32%	13.75%	29.79%	36.64%	18.03%	13.05%	16.64%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 25%
3 Years:: 21%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 21%
3 Years:: 31%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 11%

RETURN ON EQUITY

10 Years:: —
5 Years:: 27%
3 Years:: 29%
Last Year:: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	0	64	61	61	61	62	62	62
Minority Interest	0	0	-0	-0	-0	-1	2	3	5
	560	665	813	902	1,113	1,280	1,710	2,347	2,834
	1,106	860	460	297	609	487	1,209	1,032	1,907
Trade Payables	34	27	37	41	94	89	5	3	5
	1,113	1,453	1,039	2,221	4,141	3,291	4,851	4,487	4,722
Total Liabilities	2,812	3,004	2,413	3,523	6,017	5,207	7,839	7,933	9,536
	506	388	393	394	406	363	302	311	219
Capital Work in Progress	84	86	130	47	3	1	1	2	1
	159	140	231	74	228	90	159	486	390
	0	0	13	2	0	0	0	0	0
	0	0	0	0	0	0	48	45	62
Cash & Bank	855	1,065	1,027	1,678	3,740	2,837	4,464	4,009	5,043
	1,207	1,326	619	1,328	1,642	1,916	2,866	3,080	3,820
Total Assets	2,812	3,004	2,413	3,523	6,017	5,207	7,839	7,933	9,536

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-2	680	397	210	877	-695	-118	871	-1,070
Cash from Investing	-129	0	16	148	-86	163	-74	-177	314
Cash from Financing	462	-494	-514	-361	108	-296	430	-490	568
	223	93	-146	-62	817	-925	239	204	-187

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.88	30.79	30.71	30.70	31.02	30.98	30.93	30.87	30.67
	17.51	19.00	19.12	18.98	17.24	16.93	16.51	16.33	15.34
	3.18	3.69	3.98	4.30	4.91	5.03	5.39	5.56	4.72
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	48.43	46.52	46.18	46.02	46.84	47.07	47.16	47.23	49.27

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Shareholders meeting

2026-09-10 - IIFL Capital Services Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 09, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-09

Shareholders meeting

2026-09-09 - IIFL Capital Services Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 09, 2026

2026-08-31

Action(s) taken or orders passed

2026-08-31 - IIFL Capital Services Limited has informed the Exchange about Action(s) taken or orders passed

2026-08-25

ESOP/ESOS/ESPS

2026-08-25 - IIFL Capital Services Limited has informed the Exchange regarding Allotment of 372320 Shares.

2026-08-18

Copy of Newspaper Publication

2026-08-18 - IIFL Capital Services Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

General Updates

2026-08-17 - IIFL Capital Services Limited has informed the Exchange about General Updates

2026-08-17

Record Date

2026-08-17 - IIFL Capital Services Limited has informed the Exchange that Record date for the purpose of Meeting is 02-Sep-2026.

2026-08-17

Shareholders meeting

2026-08-17 - IIFL Capital Services Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 09, 2026

2026-08-17

Copy of Newspaper Publication

2026-08-17 - IIFL Capital Services Limited has informed the Exchange about Copy of Newspaper Publication regarding 31st Annual General Meeting of the Company scheduled to be held on September 9, 2026.

News

Recent coverage and analyst commentary for IIFLCAPS

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