Indian Railway Finance

    IRFC
    Defence
    ₹74.45
    Price as of 25 Oct 2026, 10:28 pm IST

    Market cap ₹97,295 Cr

    P/E
    13.20
    Day range
    ₹73.76 – ₹76.47
    52-week range
    ₹73.76 – ₹137.17
    Volume
    91.21 L
    Open
    ₹76.46
    Prev close
    ₹77.00

    Latest results · Q2 FY27(standalone)Revenue ₹7,866 Cr-40.8%Profit ₹1,958 Cr-44.4%Margin 24.9%YoY vs the same quarter last year

    1 red flag to read up on

    • medium

      Promoter holding falling

      82.90%, down 3.46 pts since 2025-09-30 · 30 Sept 2026

    From NSE and BSE filings. A flag is a reason to read the filing, not a rating.

    IRFC in NSE indices and F&O

    F&O margin for one lot of IRFC (5,425 shares)

    Research profile

    Composite 39 / 100

    Factor percentiles

    Value84
    Quality16
    Momentum15
    Low volatility42

    Derived metrics

    Earn. yield
    7.6%
    Graham no.
    ₹76.74
    vs Graham
    +3.1%
    ROE ÷ P/B
    8.0%
    12-1 mom.
    -35.8%
    Return / vol
    -1.43
    Magic Formula
    #358

    Appears in 12 scans

    Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.

    Peer comparison

    All 12 in Defence
    Largest Defence companies tracked, with sector medians
    CompanyM-capP/EP/BROEROCEOPMD/ESales YoY
    Hindustan AeronauticsHAL₹3.16 L Cr33.907.9424.0%32.0%28.0%0.00+14.4%
    Bharat ElectronicsBEL₹2.65 L Cr43.1011.1027.6%36.0%25.0%0.00+24.9%
    Bharat Heavy ElectricalsBHEL₹1.35 L Cr55.445.206.3%9.0%11.0%0.22+23.8%
    Power Finance CorpPFC₹1.04 L Cr4.000.7326.8%9.7%—7.62-0.0%
    Indian Railway FinanceIRFC₹97,295 Cr13.201.6012.8%5.6%—7.12+23.4%
    REC LtdRECLTD₹77,404 Cr4.840.9220.1%9.7%—6.10-2.0%
    Mazagon Dock ShipbuildersMAZDOCK₹75,029 Cr26.257.6929.1%36.0%15.0%0.05+12.1%
    Rail Vikas NigamRVNL₹37,804 Cr42.363.849.0%11.0%4.3%0.49+10.5%
    Sector median₹76,217 Cr30.084.5212.7%12.0%15.0%0.25+11.3%

    Sector as classified in the tracked universe; medians use every tracked Defence company, and P/E only profitable ones. Tinted figures beat the median.

    Latest news

    Updated 7d ago

    Headlines about Indian Railway Finance from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.

    Key metrics

    P/E (TTM)
    13.2
    EPS (TTM)
    ₹5.50
    Price / Book
    1.60
    ROE (FY26)
    12.8%
    Dividend yield
    2.82%

    Moving averages (NSE)

    20-day
    ₹77.82
    Price below
    50-day
    ₹81.21
    Price below
    200-day
    ₹96.5
    Price below

    Charts & trends

    From company filings. Amounts in ₹ crore.

    Revenue 3Y CAGR
    +4.5%
    Profit 3Y CAGR
    +3.4%
    Revenue YoY (Sep 2026)
    +23.4%
    Profit YoY (Sep 2026)
    +10.2%
    Net margin
    24.9%

    Revenue, profit & margin - quarterly

    ₹ crore; a loss shows red. Operating margin below, same periods.

    0 Cr2.5K Cr5K Cr7.5K Cr10K Cr
    • Revenue
    • Net profit

    Operating margin

    Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Sep 2026

    Who owns the company

    % of equity by quarter, latest Sept 2026

    Dec '24Mar '25Jun '25Sept '25Dec '25Mar '26Jun '26Sept '260%25%50%75%100%
    • Promoter
    • Public
    • DII
    • FII

    Cash flows

    Where cash came from and went, by fiscal year (₹ crore)

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-1L Cr-50K Cr0 Cr50K Cr1L Cr
    • Operating
    • Investing
    • Financing
    • Free cash flow

    Return on equity

    Net profit over shareholders' equity, by fiscal year

    FY17FY18FY19FY20FY21FY22FY23FY24FY25FY260%5%10%15%20%15% screen

    Equity vs debt

    Shareholders' equity against borrowings (₹ crore); the ratio below, same years.

    0 Cr2L Cr4L Cr6L Cr
    • Equity
    • Debt

    Debt to equity

    Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 20260x5x10x

    Dividends per share

    ₹ by fiscal year of the ex-date; the latest year runs to date.

    FY22FY23FY24FY25FY26FY27₹0₹1₹2₹3

    Financial statements

    ₹ Crore
    Quarterly results, oldest period first, figures in rupees crore
    Line itemDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
    Revenue6,7376,4756,7666,9006,7636,7236,9156,3726,6617,3368,2617,866
    Interest5,1044,7255,1555,2495,0954,9965,1244,5444,8125,5246,4215,917
    Expenses35343338394447491041184247
    Financing Profit1,5971,7161,5781,6131,6291,6831,7441,7781,7461,6941,7981,902
    Financing Margin %24%26%23%23%24%25%25%28%26%23%22%24%
    Other Income3301313058-713058
    Depreciation122111111212
    Profit before tax1,5991,7171,5771,6131,6311,6821,7461,7771,8021,6841,9271,958
    Tax %0%0%0%0%0%0%0%0%0%0%0%0%
    Net Profit1,5991,7171,5771,6131,6311,6821,7461,7771,8021,6841,9271,958
    EPS in Rs₹1.22₹1.31₹1.21₹1.23₹1.25₹1.29₹1.34₹1.36₹1.38₹1.29₹1.47₹1.50

    From company filings, updated 24 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.

    Strengths, risks & growth

    Incorporated in 1986, Indian Railway Finance Corporation borrows funds from the financial markets to finance the acquisition / creation of assets which are then leased out to the Indian Railways as finance lease [1]

    Strengths

    • Company has been maintaining a healthy dividend payout of 34.0%

    Risks

    • Company has low interest coverage ratio.
    • The company has delivered a poor sales growth of 11.6% over past five years.
    • Tax rate seems low
    • Company has a low return on equity of 13.0% over last 3 years.
    • Company might be capitalizing the interest cost
    • Company has high debtors of 5,136 days.

    Compounded Sales Growth

    10 Years
    +14%
    5 Years
    +12%
    3 Years
    +5%
    TTM
    +13%

    Compounded Profit Growth

    10 Years
    +24%
    5 Years
    +10%
    3 Years
    +3%
    TTM
    +8%

    Stock Price CAGR

    10 Years
    —
    5 Years
    +24%
    3 Years
    +2%
    1 Year
    -40%

    Return on Equity

    10 Years
    +13%
    5 Years
    +14%
    3 Years
    +13%
    Last Year
    +13%

    Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.

    Shareholding pattern

    Percentage of shares held by each category at each quarter end
    HolderDec 2025Mar 2026Jun 2026Sept 2026Change
    Promoter86.36%84.65%82.90%82.90%0.00 pp
    FII0.98%1.16%1.17%1.15%-0.02 pp
    DII1.54%2.89%3.98%3.96%-0.02 pp
    Public11.10%11.29%11.94%11.99%+0.05 pp

    Filed with NSE for Sept 2026: promoters 82.90%, public 17.10% · XBRL filing

    Analysts & fund holdings

    0%
    0% recommend buy
    1 analysts cover the stock
    Valuation vs Diversified Financial Services
    P/E13.2 vs 16.4
    Sector P/B2.12
    Beta1.45

    Who holds the shares, quarter by quarter

    Mutual funds 0.34% (+0.04 pp)
    Jun 25
    Sept 25
    Dec 25
    Mar 26
    Jun 26
    Sept 26
    • Promoters82.9%
    • Foreign institutions1.1%
    • Mutual funds0.3%
    • Insurance3.6%
    • Other domestic institutions0.1%
    • Retail10.2%
    • Others1.8%
    Mutual funds holding the most
    Fund% of company% of fund3-month change
    ICICI Pru Nifty Next 50 Index Fund0.07%0.73%-0.02 pp
    UTI Nifty Next 50 Index Fund0.06%0.79%+0.04 pp
    HDFC NIFTY Next 50 Index Fund0.02%0.73%-0.02 pp
    SBI Nifty Next 50 Index Fund0.02%0.73%-0.01 pp
    Groww Nifty India Railways PSU Index Fund0.01%20.05%+0.14 pp

    Scorecard

    Performance
    Low
    Valuation
    High
    Growth
    Low
    Profitability
    Avg
    Entry point
    Avg
    Red flags
    Low

    Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.

    Risk & trend

    From 275 daily sessions to 23 Oct 2026.

    Computed

    Risk

    Volatility (1Y)
    28.2%
    Downside volatility
    27.6%
    Worst 5% of days
    3.0%
    Average of that tail
    4.4%
    Max drawdown (1Y)
    44.4%
    Below its peak
    44.3%

    Against the market

    Beta vs Nifty 50
    1.28
    Correlation
    0.60
    Relative strength (3M)
    -9.1%
    ATR (14)
    2.9%

    Return

    Return 1M
    -6.9%
    Return 3M
    -14.5%
    Return 6M
    -29.6%
    Return 1Y
    -40.2%
    vs 200-day average
    -22.9%

    Momentum

    RSI (14)
    36.1
    MACD histogram
    0.04
    Stochastic %K
    9.4
    ADX (14)
    31.9
    +DI / −DI
    14.5 / 31.4
    Money flow index
    47.4

    Participation

    Delivery (20d avg)
    34.0%
    vs its 60-day baseline
    -4.7 pts
    Volume vs 20-day
    -0.3σ
    Close vs day's VWAP
    -0.2%
    52-week position
    0 / 100

    These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.

    Financial quality

    From consolidated statements to 31 Mar 2023.

    Computed

    Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.

    Insider trades

    Last 12 months, market trades
    Net selling ₹4416 Cr
    0 buys · ₹0
    2 sells · ₹4416 Cr
    Latest insider trades disclosed to NSE
    PersonTypeSharesValueDisclosed
    The President of India, acting through and represented by the Ministry of Railways, Government of India
    Promoter · Others
    		Sell22,87,44,407₹2084 Cr30 Jun 2026
    President of India acting through and represented by the Ministry of Railways Government of India
    Promoters · Others
    		Sell22,40,40,829₹2333 Cr2 Mar 2026

    Disclosures filed with NSE under SEBI (Prohibition of Insider Trading) Regulations. Pledges and releases are not trades and are not counted above.

    Corporate actions

    • dividend
      ₹1.15

      Interim Dividend - Rs 1.15 Per Share

      23 Oct 2026
      ex-date
    • dividend
      ₹1.05

      Interim Dividend - Rs 1.05 Per Share

      13 Mar 2026
      ex-date
    • dividend
      ₹1.05

      Interim Dividend - Rs 1.05 Per Share

      24 Oct 2025
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend - Re 0.80 Per Share

      21 Mar 2025
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend - Re 0.80 Per Share

      12 Nov 2024
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting

      23 Aug 2024
      ex-date
    • dividend
      ₹0.70

      Dividend - Rs 0.70 Per Share

      22 Aug 2024
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend - Re 0.80 Per Share

      10 Nov 2023
      ex-date
    • dividend
      Not available — not reported in this filing

      Dividend - Re 0.70 Per Share

      15 Sept 2023
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting

      15 Sept 2023
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend - Re 0.80 Per Share

      17 Nov 2022
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting

      15 Sept 2022
      ex-date
    • dividend
      Not available — not reported in this filing

      Dividend - Re 0.63 Per Share

      15 Sept 2022
      ex-date
    • dividend
      ₹0.77

      Interim Dividend - Rs 0.77 Per Share

      10 Nov 2021
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting

      23 Sept 2021
      ex-date
    • dividend
      ₹1.05

      Interim Dividend - Rs 1.05 Per Share

      17 Feb 2021
      ex-date

    Company announcements

    Corp. Action
    Board Announced Record Date For Interim Dividend I.E., 23Rd October 2026

    Board announced record date for Interim Dividend i.e., 23rd October 2026

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Press Release - Unaudited financial results for quarter and half year ended 30.09.2026

    Corp. ActionPrice-sensitive
    Corporate Action-Board approves Dividend

    Board approved interim dividend FY 2026-27 in its meeting held on 15.10.2026

    Result
    Unaudited Financial Results For The Quarter And Half Year Ended 30.09.2026

    Unaudited financial results for the quarter and half year ended 30.09.2026

    Board Meeting
    Board Meeting Outcome for Outcome Of Meeting Of Board Of Directors Held On Thursday, 15Th October 2026

    Outcome of Meeting of Board of Directors held on Thursday, 15th October 2026

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Announcement under Regulation 30 of SEBI LODR, 2015

    Corp. ActionPrice-sensitive
    Corporate Action-Board to consider Dividend

    Corporate Action - Board to consider Dividend

    Board MeetingPrice-sensitive
    Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Thursday, 15Th October 2026

    Indian Railway Finance Corporation Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 15/10/2026 ,inter alia, to consider and approve the Unaudited ....

    Board MeetingPrice-sensitive
    Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Thursday, 15Th October 2026

    Indian Railway Finance Corporation Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 15/10/2026 ,inter alia, to consider and approve the Unaudited ....

    Company Update
    Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

    Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018

    Others
    Disclosure under Regulation 30A of LODR

    Discloser under Regulation 30A of SEBI (LODR), Regulations, 2015- Show cause Notice received from GST Authority

    Company Update
    Board Comments On Fine Levied By The Exchanges

    Board Comments on Fine levied by the Exchanges

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Press Release - IRFC signs Rs. 4,200 crore Loan Agreement with DVC for Renewable Energy Projects

    Insider Trading / SAST
    Closure of Trading Window

    Closure of Trading window for quarter and half year ended on 30th September 2026

    Company Update
    Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

    Announcement under Regulation 30 of SEBI (LODR), 2015- Appointment of Statutory Auditors

    Filed with BSE (scrip 543257); the last 45 days. Documents open at bseindia.com.

    Documents

    Annual reports

    Earnings calls

    Credit ratings

    Documents open at BSE or the rating agency that issued them.

    Sourced from the company's NSE XBRL filing dated 15 Oct 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.

    FAQ

    Indian Railway Finance: common questions

    Answered from the figures on this page.

    Indian Railway Finance last traded at ₹74.45 (NSE, as of 25 Oct 2026). The last session moved it down 3.31%.

    Indian Railway Finance is valued at about ₹97,295 crore (NSE, as of 25 Oct 2026).

    Indian Railway Finance trades at a price-to-earnings ratio of 13.20 (NSE, as of 25 Oct 2026). The P/E compares the share price with earnings per share, so it is only comparable between companies in the same industry.

    Indian Railway Finance has traded between ₹73.76 and ₹137.17 over the past 52 weeks, to 25 Oct 2026. It is currently 1% of the way up that range.

    Indian Railway Finance (IRFC) is classified under Defence on this site's screener.