IIFL Finance – Q4 FY26 Results

key financial highlights

• Revenue from Operations:
  • Revenue (Q4 FY26): ₹3,699.67 Cr
    • QoQ Change: +7.78%
    • YoY Change: +42.58%
  • Previous Quarter (Q3 FY26): ₹3,432.79 Cr
  • Previous Year (Q4 FY25): ₹2,594.35 Cr
• Profit After Tax (PAT):
  • PAT (Q4 FY26): ₹623.26 Cr
    • QoQ Change: +24.32%
    • YoY Change: +147.92%
  • Previous Quarter (Q3 FY26): ₹501.35 Cr
  • Previous Year (Q4 FY25): ₹251.36 Cr
• QoQ Performance
  • Revenue Trend: Stable growth
  • Profit Trend: Strong expansion

Margin Analysis

Key Drivers:

• Strong growth in interest income
• Significant fair value gains (FVTPL / FVTOCI adjustments)
• Increase in finance costs (due to higher borrowing base)
• Controlled operating expenses

Key Signal: Margins improved but are partly influenced by treasury / fair value gains, not purely operating

Segment performance

Available: Limited (Primarily consolidated NBFC operations)

Revenue Mix:

• Interest Income: ₹3,330.04 Cr (core driver)
• Fees & Commission: ₹157.08 Cr
• Fair Value Gains + Others: meaningful contributor

Segment insight

Characteristics:

• Business remains lending-focused NBFC model
• Revenue diversification improving via:
  • Fee income
  • Investment/treasury activities

Earning quality check

Drivers:

• Core lending income strong
• Significant contribution from:
  • Fair value changes
  • Financial instrument gains
• Impairment cost remains elevated

Interpretation:

• Strong profits but partially non-operational / market-linked

balance sheet Analysis

• Total Assets: ₹89,059.04 Cr
• Total Liabilities: ₹73,439.95 Cr (approx incl. financial + non-financial)
• Equity: ₹15,619.09 Cr

Insight:

• Loan book: ₹70,911.07 Cr (major asset driver)
• Investments: ₹6,092.45 Cr
• Strong YoY expansion in assets
• Borrowings increased significantly:
  • Debt securities: ₹20,747.97 Cr
  • Borrowings: ₹43,098.95 Cr

key risks

• High leverage typical of NBFC model
• Dependence on market-linked gains (fair value)
• Credit risk from large loan book
• Interest rate sensitivity
• Liquidity / funding risk

management strategy signals

Focus Area:

• Aggressive loan book expansion
• Diversified funding sources
• Increasing fee-based income
• Leveraging treasury operations

Financial Metrics

Quarterly Performance Context