NSE:IRFCNSEFinancial Services
Indian Railway Finance Corporation Limited
📊 Credit Services
Day ₹105
₹106 Neutral
52W ₹87
₹149 Oversold
₹105.49
▲ ₹0.35 (+0.33%)
Vol: 4,937,925 · Avg: 18,690,635
As of April 29, 2026 · 06:43 IST
COMPOSITE RISK SCORE
58 MODERATE
VAL:12/25 · FIN:14/25 · GRO:16/25 · TECH:16/25
📈 P/E RATIO
19.7x
Trailing
📖 P/B RATIO
2.4x
Price to Book
💰 EPS
₹5.36
TTM
🏛 MARKET CAP
₹137,860Cr
Large Cap
📊 ROE
12.9%
Return on Equity
📈 REV GROWTH
10.6%
YoY
🏢 Company Analysis · Indian Railway Finance Corporation Limited
💼 BUSINESS MODEL
  • Indian Railway Finance Corporation Limited engages in leasing of rolling stock and railway infrastructure assets in India..
  • The company also engages in lending business; and borrowing funds from commercial markets, financial markets to finance the acquisition/creation of assets that are leased out to the Indian Railways..
  • Indian Railway Finance Corporation Limited was incorporated in 1986 and is based in New Delhi, India..
  • Operates in Credit Services within the Financial Services sector.
  • Workforce of 45 employees.
🏰 MOAT & COMPETITION
  • Mega-cap (₹137,860 Cr) — dominant market position with significant scale advantages.
  • ROE of 12.9% — decent but not exceptional capital efficiency.
  • Profit margin of 97.3% suggests pricing power / cost moat.
  • Key competitors: Power Fin.Corpn., REC Ltd, I R F C, H U D C O.
🚀 CATALYSTS
  • No specific near-term catalysts identified from available data.
⚖️ ASYMMETRY CHECK
  • Analyst target range: ₹64 — ₹64 (mean ₹64, 1 analysts).
  • P/E of 19.7x — fair value territory; catalysts needed for re-rating.
🔭 FUTURE OUTLOOK
  • Analyst consensus: None (1 analysts).
  • Latest quarter earnings grew 10% YoY — positive trajectory.
✅ PROS
  • None identified
❌ CONS
  • None identified
VALUATION
12/25
25% WEIGHT
  • P/E at 20x
  • P/B at 2.4x
  • Analyst target: ₹64 (-39.3%)
  • 1Y return: -15.3%
FINANCIAL HEALTH
14/25
25% WEIGHT
  • ROE: 12.9%
  • Profit margin: 97.3%
  • Revenue growth: 10.6%
  • Debt/Equity: 745%
GROWTH
16/25
25% WEIGHT
  • Revenue growth: 10.6%
  • Earnings growth: 10.4%
  • Beta: 0.31
  • Sector: Financial Services
TECHNICAL
16/25
25% WEIGHT
  • RSI, MACD, MA crossovers
  • 200 DMA & 50 EMA position
  • Volume trend analysis
  • Price momentum signals
📈 Price Movement
🕯 Candlestick Chart
🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗
💎 Valuation & Financial Metrics
P/E RATIO
19.7x
Trailing twelve months
P/B RATIO
2.4x
Price to Book value
ROE
12.9%
Return on Equity
PROFIT MARGIN
97.3%
Net profit margin
OPM
97.5%
Operating profit margin
ANALYST TARGET
₹64
Range: ₹64 - ₹64
Yahoo Finance ↗
PEG RATIO
N/A
Price/Earnings to Growth
EV/EBITDA
N/A
Enterprise value ratio
CURRENT RATIO
10.59
Liquidity measure
DIVIDEND YIELD
2.76%
Annual yield
ROA
1.4%
Return on Assets
GROSS MARGIN
100.0%
Gross profit margin
INDUSTRY AVERAGES — FINANCIAL INSTITUTION
P/E 20.1x (below avg)
P/B 3.0x (sector fair)
ROCE 9.5%
ROE 18% (sector good)
OPM 30% (sector good)
Div Yield 2.06%
D/E <200 (sector comfort)
📋 Quarterly Performance Trend
QuarterRevenueQoQ %Net ProfitQoQ %Op. Cash FlowEBITDA Margin
Q2 FY25 ₹6,899 Cr— ₹1,613 Cr— ₹17,332 Cr 23.4%
Q3 FY25 ₹6,763 Cr-2.0% ₹1,631 Cr+1.1% ₹-14,880 Cr 24.1%
Q4 FY25 ₹6,636 Cr-1.9% ₹1,682 Cr+3.1% ₹1,136 Cr 145.9%
Q1 FY26 ₹6,901 Cr+4.0% ₹1,746 Cr+3.8% ₹1,468 Cr 25.3%
Q3 FY26 ₹6,657 Cr-3.5% ₹1,802 Cr+3.2% ₹-28,435 Cr 27.1%
📊 Year-on-Year Trend
FYRevenueYoY %Net ProfitYoY %Op. Cash FlowYoY %
FY22 ₹20,280 Cr— ₹6,090 Cr— ₹-64,412 Cr—
FY23 ₹23,651 Cr+16.6% ₹6,167 Cr+1.3% ₹-28,588 Cr+55.6%
FY24 ₹26,530 Cr+12.2% ₹6,412 Cr+4.0% ₹7,914 Cr+127.7%
FY25 ₹27,065 Cr+2.0% ₹6,502 Cr+1.4% ₹8,230 Cr+4.0%
📈 Revenue vs Earnings
🎯 EPS: Estimate vs Actual
💰 How Indian Railway Finance Corporation Limited Makes Its Money
Revenue ₹6.7K Cr Cost of Revenue ₹4.8K Cr Gross Profit ₹1.8K Cr Op. Expenses ₹37 Cr Operating Inc. ₹1.8K Cr Other ₹58 Cr Net Income ₹1.8K Cr (27.1% margin) Dec 2025 · All values in ₹ Crores
🏦 Snapshot of Indian Railway Finance Corporation Limited's Balance Sheet
Total Assets ₹5.0L Cr Cash & Equiv.: ₹253 Cr (0.1%) Other Current: ₹2.5L Cr (49.7%) PP&E: ₹15 Cr (0.0%) Other Non-Curr.: ₹2.5L Cr (50.3%) Liab. + Equity ₹5.0L Cr Current Liab.: ₹13 Cr (0.0%) Long-Term Debt: ₹4.2L Cr (83.9%) Other Liab.: ₹23.7K Cr (4.8%) Equity: ₹56.6K Cr (11.4%) As of Dec 2025 · All values in ₹ Crores
💸 Looking into Indian Railway Finance Corporation Limited's Cash Flow
Operating CF ₹1.5K Cr Free Cash Flow ₹1.5K Cr Retained / Other ₹1.5K Cr FY2025 · All values in ₹ Crores
📅 Quarterly Results Source: Screener ↗
Revenue +
Interest
Expenses +
Financing Profit
Financing Margin %
Other Income +
Depreciation
Profit before tax
Tax %
Net Profit +
EPS in Rs
Gross NPA %
Net NPA %
Raw PDF
📊 Profit & Loss Statement Source: Screener ↗
Revenue +
Interest
Expenses +
Financing Profit
Financing Margin %
Other Income +
Depreciation
Profit before tax
Tax %
Net Profit +
EPS in Rs
Dividend Payout %
🏦 Balance Sheet Source: Screener ↗
Equity Capital
Reserves
Borrowing
Other Liabilities +
Total Liabilities
Fixed Assets +
CWIP
Investments
Other Assets +
Total Assets
💰 Cash Flow Statement Source: Screener ↗
Cash from Operating Activity +
Cash from Investing Activity +
Cash from Financing Activity +
Net Cash Flow
Free Cash Flow
CFO/OP
📈 Key Financial Ratios
ROE %
🏭 Industry Peers — Financial Institution
#CompanyCMPP/EMkt CapROCEQtr ProfitScore
1Power Fin.Corpn. ★₹4646.1₹153,2579.7%+8.1%79
2REC Ltd₹3645.9₹95,7579.7%-21.7%71
3I R F C₹10519.7₹137,8475.8%+10.5%64
4H U D C O₹21715.6₹43,4419.6%-3.0%62
5Indian Renewable₹13820.6₹38,8389.4%+37.5%61
6Tour. Fin. Corp.₹7327.7₹3,36710.7%+40.6%58
7IFCI₹5986.5₹15,9675.0%-93.5%32
8Guj. State Fin.₹11—₹97—+3.6%31
9Haryana Fin. Co.₹63162.7₹1,318-1.2%+1550.8%20
★ Power Fin.Corpn. ranks higher on combined P/E, ROCE, and growth metrics in Financial Institution
🏛 Shareholding Pattern
Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters86.36%86.36%86.36%86.36%86.36%84.65%
FIIs1.01%0.98%0.93%0.97%0.98%1.16%
DIIs1.24%1.34%1.45%1.48%1.54%2.89%
Public11.40%11.32%11.24%11.17%11.10%11.29%
No. of Shareholders55,40,76756,35,77554,51,17253,17,98151,69,33151,13,569
🟢 CATALYSTS
🏆Positive Revenue Growth: Revenue growing at 10.6% YoY.
💹Healthy Margins (97.3%): Above sector norm of 30%.
🔀Low Beta (0.31): Less volatile than market — defensive play.
🇮Earnings Growth (10%): Above sector norm — strong profit expansion.
🔴 RISKS
📜High Debt/Equity (745%): Above sector threshold of 500% — leverage risk.
💰Below Analyst Target: CMP above mean target — limited upside consensus.
🔓Market Risk: Broader market correction or sentiment shift could impact stock.
🕸 Factor Analysis · Radar
Momentum 6/10: 1M +20.9%, 6M -14.8%, RSI 60, MACD bullish, Below 200DMA Sentiment 3/10: Analyst upside -39.3%, Rec: none Value 6/10: P/E 19.7, P/B 2.4 Quality 6/10: ROE 12.9%, Margin 97.3%, D/E 745, CR 10.59 Low Volatility 9/10: Beta 0.31, Ann. vol 31% Momentum 6 Sentiment 3 Value 6 Quality 6 Low Vol 9
Momentum 6/10
1M +20.9%, 6M -14.8%, RSI 60, MACD bullish, Below 200DMA
Sentiment 3/10
Analyst upside -39.3%, Rec: none
Value 6/10
P/E 19.7, P/B 2.4
Quality 6/10
ROE 12.9%, Margin 97.3%, D/E 745, CR 10.59
Low Volatility 9/10
Beta 0.31, Ann. vol 31%
🎯 Decision Matrix
ActionIf Stock RisesIf Stock Falls
BUYBenefit from potential re-ratingOPM of 98% provides margin buffer
HOLDRetain existing position; wait for better entry; FII stake rising (+0.18%)Miss further upside if momentum continues; 1M return of +20.9% shows momentum
SELLLock in -15.3% 1Y return; redeploy into Power Fin.Corpn. at lower P/EAvoid further drawdown
REASONS TO BUY
  • FII stake rising (+0.18%) — signals institutional confidence
  • Revenue growing at 10.6% YoY (sector norm: 6%)
  • Operating margin of 98% shows pricing power (sector norm: 30%)
REASONS TO SELL / AVOID
  • Power Fin.Corpn. offers lower P/E (6.1) with ROCE of 9.7% in the same sector
  • Trading above analyst target — consensus sees -39.3% downside
  • Debt/Equity at 745% exceeds sector comfort zone
📰 Latest News
India skips oversubscription option in Indian Railway Finance stake sale
Reuters · 2026-02-25T15:14
India to sell up to 4% stake in Indian Railway Finance Corp
Reuters · 2026-02-24T15:16
Indian Railway Finance Corp Ltd (BOM:543257) Q3 2026 Earnings Call Highlights: Strong Growth in ...
GuruFocus.com · 2026-01-23T01:00
Indian Railway Finance Corp Ltd (BOM:543257) Q2 2026 Earnings Call Highlights: Record Profits ...
GuruFocus.com · 2025-11-05T01:01
RECOMMENDATION
HOLD
COMPOSITE SCORE
58/100
Indian Railway Finance Corporation Limited trades at ₹105.49 with a composite risk score of 58/100. The stock scores 12/25 on valuation, 14/25 on financial health, 16/25 on growth, and 16/25 on technicals. The company is currently profitable with moderate return on equity.

The stock is trading near or above analyst consensus targets. Revenue growth is at 10.6%.

Within Financial Institution, Power Fin.Corpn. (P/E 6.1, ROCE 9.7%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Neutral for Financial Services — wait for better entry or catalyst. The current recommendation is HOLD.
PROFITABLE CHEAP HIGH DEBT
RISK SCORE REPORT · NSE:IRFC · GENERATED APR 29, 2026 06:43 IST · DATA VIA YAHOO FINANCE + SCREENER.IN
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DATA MAY BE DELAYED. ALWAYS VERIFY WITH OFFICIAL SOURCES BEFORE INVESTING.