Financial Services · NIFTY 500

Indian Railway Finance Corporation Limited

NSEIRFC BSE543257 ISININE053F01010 SeriesEQ Listed on NSE · BSE · MSEI

₹85.29 -1.41 (-1.63%) Updated 12 Nov, 6:16 pm IST

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Price, daily close-34.20% in a year

Today

Open: ₹86.96
Prev close: ₹86.70
Day high: ₹87.33
Day low: ₹84.90
Volume: 1.90 Cr
Value traded: ₹162.88 Cr
Upper circuit: ₹87.74
Lower circuit: ₹82.64
52W high: ₹137.17
52W low: ₹73.05
1 month: +8.25%
6 months: -21.97%

52W low52W high

Ratios

Key numbers

Worked out from the latest filings (Standalone) and today's price. TTM = last four quarters.

Market cap₹111,461 Cr

P/E (TTM)15.12

P/B1.84

Book value / share₹46.35

EPS (TTM)₹5.64

ROE12.2%

Dividend yield2.58%

Dividend (12m)₹2.20 / share

Net margin (TTM)24.5%

Operating margin99.4%

Debt / equity2.84

Current ratio—

EV / EBITDA8.51

Sales growth (YoY qtr)+23.45%

Profit growth (YoY qtr)+10.21%

Sales CAGR 3Y+4.53%

Profit CAGR 3Y+3.42%

Shares1,306.85 Cr

Quarterly results

Results for each quarter

Last 12 quarters, standalone, ₹ crore. Hover a bar to see the number.

Revenue and net profit

6,7451,604

Dec 23

6,4741,717

Mar 24

6,7661,577

Jun 24

6,9001,613

Sep 24

6,7631,631

Dec 24

6,7231,682

Mar 25

6,9151,746

Jun 25

6,3721,777

Sep 25

6,6611,802

Dec 25

7,3361,684

Mar 26

8,2611,927

Jun 26

7,8661,958

Sep 26

Revenue · QoQ (vs last quarter)

—-4.0%+4.5%+2.0%-2.0%-0.6%+2.9%-7.9%+4.5%+10%+13%-4.8%

Revenue · YoY (vs a year ago)

————+0.3%+3.9%+2.2%-7.6%-1.5%+9.1%+19%+23%

Net profit · QoQ (vs last quarter)

—+7.0%-8.2%+2.3%+1.1%+3.1%+3.8%+1.8%+1.4%-6.5%+14%+1.6%

Net profit · YoY (vs a year ago)

————+1.6%-2.1%+11%+10%+11%+0.1%+10%+10%

RevenueNet profitLine = trend

1.23

Dec 23

1.32

Mar 24

1.21

Jun 24

1.23

Sep 24

1.25

Dec 24

1.29

Mar 25

1.34

Jun 25

1.36

Sep 25

1.38

Dec 25

1.29

Mar 26

1.47

Jun 26

1.50

Sep 26

EPS (₹) · YoY (vs a year ago)

————+1.6%-2.3%+11%+11%+10%0.0%+9.7%+10%

EPS (₹)Line = trend

₹ Cr	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	6,745	6,474	6,766	6,900	6,763	6,723	6,915	6,372	6,661	7,336	8,261	7,866
Other income	0.0	4.4	0.4	0.5	3.0	1.0	2.9	0.0	57.9	-7.4	130	58.1
Total income	6,745	6,478	6,766	6,900	6,766	6,724	6,918	6,372	6,719	7,329	8,391	7,924
Raw material	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Purchases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Employee cost	3.1	2.6	2.6	2.9	3.6	4.3	3.7	5.6	5.3	6.7	5.1	7.3
Other expenses	31.8	31.1	33.7	34.3	35.2	36.6	37.0	39.6	39.2	56.5	38.0	40.0
Total expenses	5,141	4,761	5,189	5,288	5,136	5,042	5,173	4,595	4,917	5,644	6,464	5,966
Operating profit	6,710	6,439	6,733	6,862	6,724	6,679	6,869	6,323	6,558	7,218	8,219	7,820
OPM %	99.5%	99.5%	99.5%	99.5%	99.4%	99.3%	99.3%	99.2%	98.4%	98.4%	99.5%	99.4%
Finance cost	5,104	4,725	5,155	5,249	5,095	4,996	5,124	4,544	4,812	5,524	6,421	5,917
Depreciation	1.3	1.7	1.6	1.1	1.3	1.3	1.3	1.4	1.4	1.9	1.2	2.1
Profit before tax	1,604	1,717	1,577	1,613	1,631	1,682	1,746	1,777	1,802	1,684	1,927	1,958
Tax	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net profit	1,604	1,717	1,577	1,613	1,631	1,682	1,746	1,777	1,802	1,684	1,927	1,958
EPS (₹)	1.23	1.32	1.21	1.23	1.25	1.29	1.34	1.36	1.38	1.29	1.47	1.50

Profit & loss

Results for each year

6 financial years (April to March), standalone, ₹ crore.

Sales, operating profit and net profit

15,77015,6574,416

FY21

20,29920,1776,090

FY22

23,89223,7576,337

FY23

26,64526,5126,412

FY24

27,15226,9986,502

FY25

27,28526,9677,009

FY26

Revenue · YoY (vs a year ago)

—+29%+18%+12%+1.9%+0.5%

Net profit · YoY (vs a year ago)

—+38%+4.1%+1.2%+1.4%+7.8%

RevenueOperating profitNet profitLine = trend

₹ Cr	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	15,770	20,299	23,892	26,645	27,152	27,285
Other income	0.4	2.3	40.8	10.6	4.3	53.4
Total expenses	11,355	14,211	17,596	20,244	20,654	20,329
Employee cost	7.8	10.7	13.1	11.2	13.5	21.3
Operating profit	15,657	20,177	23,757	26,512	26,998	26,967
OPM %	99.3%	99.4%	99.4%	99.5%	99.4%	98.8%
Finance cost	11,237	14,075	17,447	20,101	20,495	20,005
Depreciation	4.4	14.0	14.1	9.4	5.3	6.1
Profit before tax	4,416	6,090	6,337	6,412	6,502	7,009
Tax	0.0	0.3	0.0	0.0	0.0	0.0
Tax rate %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net profit	4,416	6,090	6,337	6,412	6,502	7,009
Net margin %	28.0%	30.0%	26.5%	24.1%	23.9%	25.7%
EPS (₹)	3.66	4.66	4.85	4.91	4.98	5.36

Balance sheet

Assets and debt

At each year end (and the latest half year), ₹ crore.

Equity, debt and assets

45,4702.03L206

Mar 23

49,1791.87L22.8

Mar 24

52,6681.63L5,680

Mar 25

56,7491.74L211

Mar 26

60,5731.72L29,946

Sep 26

Shareholders' equity · YoY (vs a year ago)

—+8.2%+7.1%+7.7%—

Shareholders' equityBorrowingsCashLine = trend

₹ Cr	Mar 23	Mar 24	Mar 25	Mar 26	Sep 26
Shareholders' equity	45,470	49,179	52,668	56,749	60,573
Deposits	0.0	0.0	0.0	0.0	—
Total borrowings	202,835	186,938	163,298	173,767	172,258
Fixed assets (PPE)	17.9	21.1	13.8	18.0	16.5
Investments	13.7	53.6	38.2	28.1	28.6
Inventories	0.0	0.0	0.0	0.0	0.0
Cash & equivalents	206	22.8	5,680	211	29,946
Total assets	491,147	485,082	488,835	516,676	527,977
Debt / equity	4.46	3.80	3.10	3.06	2.84

Cash flow

Cash coming in and going out

For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.

Operating, investing and financing cash

-64,412-4.764,266

FY22

-28,5840.128,643

FY23

7,914-7.5-8,046

FY24

8,230-0.1-2,572

FY25

-27,026-2.621,560

FY26

Operations · YoY (vs a year ago)

—+56%+128%+4.0%-428%

OperationsInvestingFinancingLine = trend

₹ Cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	-64,412	-28,584	7,914	8,230	-27,026
Cash from investing	-4.7	0.1	-7.5	-0.1	-2.6
Cash from financing	64,266	28,643	-8,046	-2,572	21,560
Spent on fixed assets	-6.6	-0.8	-8.3	-0.8	-13.4
Free cash flow	-64,419	-28,585	7,906	8,229	-27,040
Net cash flow	-151	59.5	-140	5,658	-5,469

Shareholding

Who holds the shares

Promoter and public holding at each quarter end, as filed with NSE.

Holding over time

86.4%Dec 23

86.4%Mar 24

86.4%Jun 24

86.4%Sep 24

86.4%Dec 24

86.4%Mar 25

86.4%Jun 25

86.4%Sep 25

86.4%Dec 25

84.7%Mar 26

82.9%Jun 26

82.9%Sep 26

Promoter & groupPublic

Latest (30 Sep 2026)

82.9%promoter

Promoter & group: 82.90%
Public (FIIs, mutual funds, retail…): 17.10%
Promoter change, last quarter: 0.00 pts

Dividends & news

Latest dividends and announcements

Dividends & corporate actions

Interim Dividend - Rs 1.15 Per ShareEx 23-Oct-2026
Interim Dividend - Rs 1.05 Per ShareEx 13-Mar-2026
Interim Dividend - Rs 1.05 Per ShareEx 24-Oct-2025
Interim Dividend - Re 0.80 Per ShareEx 21-Mar-2025
Interim Dividend - Re 0.80 Per ShareEx 12-Nov-2024
Annual General MeetingEx 23-Aug-2024
Dividend - Rs 0.70 Per ShareEx 22-Aug-2024
Interim Dividend - Re 0.80 Per ShareEx 10-Nov-2023

Board meetings

the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Dividend/Other business.15-Oct-2026
the financial results for the period ended September 30, 2026 and dividend15-Oct-2026
the financial results for the period ended Jun 30, 2026 and other business matters30-Jul-2026
the Quarterly Unaudited Financial results of the Company for the period ended June 2026 and Other business.30-Jul-2026
the Yearly Audited Financial results of the Company for the period ended March 2026 and Other business.14-May-2026

Filings with NSE

Analysts/Institutional Investor Meet/Con. Call Updates22 Oct
Copy of Newspaper Publication16 Oct
Analysts/Institutional Investor Meet/Con. Call Updates16 Oct
Press Release15 Oct
Record Date15 Oct
Dividend15 Oct
Outcome of Board Meeting15 Oct

Latest news

Where Could IRFC Share Price Potentially be in the Next 5 Years?Equitymaster · 12 Nov, 4:29 pm IRFC shares gain nearly 8% for their best day of 2026; Railway PSU Stock extends November advance - CNBC TV18LinkedIn · 11 Nov, 1:19 pm RVNL, IRFC, BEML, IRCON, Texmaco shares zoom; what's driving the surge in railway stocks?Business Today · 11 Nov, 12:13 pm Most Active Stocks Today, 11 November 2026 at 12:00 PM ISTHDFC Sky · 11 Nov, 12:22 pm IRFC to announce interim dividend in Q2 results on Oct 15; stock rises 4%Business Standard · 12 Oct, 12:30 pm Railway stocks rise: Titagarh Rail shares jump 5% post-strong Q2 results; Jupiter Wagons, RVNL, others...Moneycontrol.com · 11 Nov, 12:57 pm Indian Railway Finance Corporation LtdEquitypandit · 7 Sep, 8:45 pm BEML, RVNL, IRCTC, IRFC and other railway PSU stocks jump up to 8%; what's driving the rally?Upstox · 11 Nov, 1:26 pm

About

About Indian Railway Finance Corporation Limited

Indian Railway Finance Corporation Limited is listed on the NSE under the symbol IRFC and belongs to the Financial Services sector.

Company details

Company name: Indian Railway Finance Corporation Limited
NSE symbol: IRFC
BSE scrip code: 543257
ISIN: INE053F01010
Listed on: NSE, BSE, MSEI
Series: EQ (normal equity)
Listed on NSE since: 29 Jan 2021
Face value: ₹10 per share
Market lot: 1 share
Shares issued: 1,306.85 crore
Index: NIFTY 500
Sector (NSE): Financial Services
Industry: Finance/Rental/Leasing
Managing director / CEO: Manoj Kumar Dubey
Chair: Manoj Kumar Dubey
Headquarters: New Delhi, Delhi, India
Registered address: UG Floor, East Tower, NBCC Place, Bhisham Pitamah Marg, Pragati Vihar, Lodhi Road, New Delhi-110003
Founded: 1986
Employees: 67
Financial year: April to March
Results basis: Standalone
Website: irfc.co.in

Peers

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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.

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Indian Railway Finance Corporation Limited

Today

Ratios

Quarterly results

Revenue and net profit

Profit & loss

Sales, operating profit and net profit

Balance sheet

Equity, debt and assets

Cash flow

Operating, investing and financing cash

Shareholding

Holding over time

Latest (30 Sep 2026)

Dividends & news

Dividends & corporate actions

Board meetings

Filings with NSE

Latest news

About

Company details

Peers