IIFL Finance Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹427.88Overvalued by 32.40%vs CMP ₹633.00

P/E (12.9) × ROE (12.6%) × BV (₹327.00) × DY (0.63%)

₹379.53Overvalued by 40.04%vs CMP ₹633.00

MoS: -66.8% (Negative)Confidence: 59/100 (Moderate)Models: 1 Fair, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹433.80	24%	Over (-31.5%)
Graham Number	Earnings	₹471.06	17%	Over (-25.6%)
Earnings Power	Earnings	₹292.21	11%	Over (-53.8%)
DCF	Cash Flow	₹394.09	14%	Over (-37.7%)
Net Asset Value	Assets	₹325.98	8%	Over (-48.5%)
EV/EBITDA	Enterprise	₹44.26	9%	Over (-93%)
Earnings Yield	Earnings	₹301.60	8%	Over (-52.4%)
ROCE Capital	Returns	₹602.53	9%	Fair (-4.8%)
Consensus (8 models)		₹379.53	100%	Overvalued

Key Drivers: Wide model spread (₹44–₹603) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.4%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 2:35 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹10,234.00 Cr, versus ₹10,472.00 Cr in Mar 2024 (-2.3% year on year). Net profit for Mar 2025 was ₹578.00 Cr, versus ₹1,974.00 Cr in Mar 2024 (-70.7% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹-4,781.00 Cr against net profit of ₹578.00 Cr. Cash flow covered -8.27 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement. For financial businesses, lending and investment movements can dominate operating cash flow; also examine asset quality, capital adequacy and the business mix.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

IIFL Finance Ltd scores 51/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health54/100 · Moderate

ROCE 10.9% AverageROE 12.6% GoodD/E 4.11 High debtInterest Coverage 1.4x RiskyProfitable 5/5 available years Reported history

Smart Money20/100 · Weak

FII holding down -2.91% (6mo) SellingDII holding down 1.63% MF sellingPromoter holding at 24.8% Stable

Earnings Quality35/100 · Weak

CFO/NP ratio: -4.50x Poor cash conversion

Quarterly Momentum70/100 · Strong

Profit (4Q): +91% YoY Strong

Industry Rank65/100 · Strong

P/E 12.9 vs industry 58.8 Lower P/EROCE 10.9% vs industry 10.5% Average

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 2:35 am

Market Cap	27,030 Cr.
Current Price	633
Intrinsic Value	₹379.53
High / Low	705/409
Stock P/E	12.9
Book Value	327
Dividend Yield	0.63 %
ROCE	10.9 %
ROE	12.6 %
Face Value	2.00
PEG Ratio	9.34

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for IIFL Finance Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
IIFL Finance Ltd	27,030 Cr.	633	705/409	12.9	327	0.63 %	10.9 %	12.6 %	2.00
Angel One Ltd	27,403 Cr.	300	360/209	26.6	67.2	1.35 %	14.8 %	15.6 %	1.00
Cholamandalam Financial Holdings Ltd	27,619 Cr.	1,472	2,064/1,305	10.4	823	0.09 %	9.75 %	17.5 %	1.00
Piramal Enterprises Ltd	25,483 Cr.	1,124	/	49.0	1,202	0.98 %	6.78 %	1.63 %	2.00
ICICI Securities Ltd	29,149 Cr.	896	/	16.7	194	0.00 %	13.8 %	29.2 %	5.00
Industry Average	10,472.65 Cr	1,159.09		58.78	3,572.45	0.49%	10.48%	14.03%	7.06

All Competitor Stocks of IIFL Finance Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	2,121	2,187	2,301	2,478	2,649	2,854	2,621	2,556	2,443	2,591	2,953	3,305	3,427
Interest	809	861	888	932	985	1,063	1,042	963	996	1,169	1,289	1,382	1,437
Expenses	740	779	822	877	948	1,255	1,109	1,105	1,307	1,065	1,267	1,323	1,280
Financing Profit	571	547	591	670	715	536	470	488	140	357	397	600	710
Financing Margin %	27%	25%	26%	27%	27%	19%	18%	19%	6%	14%	13%	18%	21%
Other Income	24	89	69	57	46	68	12	-582	6	3	6	4	5
Depreciation	39	42	42	43	45	50	46	46	46	51	47	47	53
Profit before tax	555	594	618	684	716	554	436	-140	101	309	356	557	663
Tax %	24%	23%	24%	23%	24%	22%	22%	-33%	19%	19%	23%	25%	24%
Net Profit	423	458	473	526	545	431	338	-93	82	251	274	418	501
EPS in Rs	8.96	9.76	10.06	11.20	11.58	8.81	6.79	-3.72	0.96	4.89	5.49	8.86	10.92
Gross NPA %	2.08%	1.84%	1.84%	1.84%	1.71%	2.32%	2.25%	2.35%	2.42%	2.23%	2.34%	2.14%	1.60%
Net NPA %	1.06%	1.08%	1.06%	1.02%	0.87%	1.20%	1.11%	1.06%	1.01%	1.05%	1.13%	1.02%	0.75%

Last Updated: March 4, 2026, 9:09 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:46 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	2,822	3,551	3,952	3,163	6,405	4,978	4,847	5,968	6,991	8,444	10,472	10,234	12,277
Interest	1,169	1,445	1,690	1,786	2,730	2,593	2,413	2,638	3,011	3,245	3,896	4,196	5,277
Expenses	1,178	1,319	1,362	689	2,221	1,435	1,682	2,239	2,355	2,936	3,842	4,559	4,935
Financing Profit	475	787	900	689	1,454	950	752	1,090	1,625	2,263	2,734	1,479	2,064
Financing Margin %	17%	22%	23%	22%	23%	19%	16%	18%	23%	27%	26%	14%	17%
Other Income	13	-4	8	375	61	212	79	20	32	2	18	-584	19
Depreciation	68	59	66	16	67	32	106	106	122	153	181	189	198
Profit before tax	420	724	843	1,048	1,448	1,130	725	1,005	1,536	2,113	2,572	707	1,885
Tax %	31%	34%	34%	22%	30%	30%	31%	24%	23%	24%	23%	18%
Net Profit	291	476	555	822	1,021	796	503	761	1,188	1,608	1,974	578	1,445
EPS in Rs	8.45	12.98	14.53	19.42	22.42	22.40	11.94	18.06	28.16	35.49	41.60	8.92	30.16
Dividend Payout %	32%	21%	26%	21%	20%	20%	17%	15%	11%	10%	9%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	63.57%	16.60%	48.11%	24.21%	-22.04%	-36.81%	51.29%	56.11%	35.35%	22.76%	-70.72%
Change in YoY Net Profit Growth (%)	0.00%	-46.98%	31.51%	-23.90%	-46.25%	-14.77%	88.10%	4.82%	-20.76%	-12.59%	-93.48%

IIFL Finance Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	11%
5 Years:	16%
3 Years:	14%
TTM:	-1%

Compounded Profit Growth
10 Years:	2%
5 Years:	2%
3 Years:	-22%
TTM:	-52%

Stock Price CAGR
10 Years:	18%
5 Years:	39%
3 Years:	10%
1 Year:	-8%

Return on Equity
10 Years:	15%
5 Years:	14%
3 Years:	13%
Last Year:	5%

Last Updated: September 5, 2025, 6:55 am

Balance Sheet

Last Updated: September 8, 2026, 3:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	62	63	64	64	64	76	76	76	76	76	85	85
Reserves	2,496	3,289	4,318	4,679	4,290	4,684	5,312	6,388	8,916	10,561	12,327	13,835
Borrowing	14,639	15,948	24,330	34,326	26,517	27,996	32,583	36,086	40,017	47,136	51,068	69,176
Other Liabilities	2,221	3,566	5,049	5,426	2,368	1,617	2,696	3,360	3,993	4,630	4,164	5,891
Total Liabilities	19,418	22,866	33,761	44,495	33,239	34,373	40,667	45,910	53,002	62,403	67,644	88,987
Fixed Assets	500	533	656	871	369	607	675	775	862	905	1,487	1,514
CWIP	10	6	71	110	7	2	7	6	28	52	23	6
Investments	1,283	1,867	4,153	2,150	212	770	32	1,192	3,511	4,059	4,438	6,092
Other Assets	17,624	20,461	28,881	41,365	32,651	32,994	39,954	43,937	48,602	57,387	61,696	81,375
Total Assets	19,418	22,866	33,761	44,495	33,239	34,373	40,667	45,910	53,002	62,403	67,644	88,987

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	-2,126	-54	-4,329	-10,483	422	1,101	-3,587	1,784	-5,225	-8,716	-4,781	-13,976
Cash from Investing Activity +	-361	-671	-2,602	-374	562	-919	236	-996	-2,716	468	-1,149	-2,606
Cash from Financing Activity +	2,904	525	9,094	8,468	20	109	4,428	2,781	5,361	7,088	5,526	17,843
Net Cash Flow	417	-200	2,162	-2,389	1,004	290	1,077	3,569	-2,580	-1,160	-403	1,262
Free Cash Flow	-2,211	-131	-4,343	-10,654	355	1,052	-3,621	1,684	-5,484	-8,804	-4,839	-14,056
CFO/OP	-83%	8%	-165%	-237%	20%	42%	-88%	45%	-90%	-121%	-77%	-162%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	-2,211.00	-131.00	-4,343.00	-10,654.00	355.00	1,052.00	-3,621.00	1,684.00	-5,484.00	-8,804.00	-4,839.00	-14,056.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
ROE %	14%	19%	17%	18%	17%	16%	11%	15%	20%	19%	18%	5%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	24.81%	24.80%	24.78%	24.92%	24.91%	24.90%	24.90%	24.86%	24.86%	24.85%	24.84%	24.84%
FIIs	28.31%	31.27%	29.14%	30.31%	29.64%	27.78%	28.03%	26.62%	26.77%	27.77%	28.16%	23.86%
DIIs	7.30%	8.27%	8.59%	7.43%	6.25%	4.50%	5.54%	8.09%	9.13%	9.16%	7.09%	7.50%
Public	39.59%	35.67%	37.47%	37.35%	39.19%	42.84%	41.54%	40.41%	39.23%	38.20%	39.92%	43.80%
No. of Shareholders	67,660	83,676	1,49,309	1,45,073	1,58,133	1,73,530	1,69,374	1,49,247	1,42,808	1,34,274	1,24,543	1,27,688

Shareholding Pattern Chart

No. of Shareholders

IIFL Finance Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HSBC Small Cap Fund	3,046,147	1.07	161.05	3,822,687	2026-02-23 01:16:55	-20.31%
Franklin India Small Cap Fund	2,215,407	0.92	117.13	N/A	N/A	N/A
Mahindra Manulife Small Cap Fund	1,887,971	2.5	99.82	N/A	N/A	N/A
Mahindra Manulife Multi Cap Fund	1,520,000	1.33	80.36	N/A	N/A	N/A
Franklin India Opportunities Fund	1,276,510	0.82	67.49	N/A	N/A	N/A
HDFC Large and Mid Cap Fund	707,385	0.13	37.4	N/A	N/A	N/A
Mahindra Manulife Large & Mid Cap Fund	575,000	1.11	30.4	N/A	N/A	N/A
ITI Small Cap Fund	514,352	1.02	27.19	737,522	2026-02-23 00:40:58	-30.26%
DSP Multicap Fund	472,372	0.97	24.97	N/A	N/A	N/A
HSBC ELSS Tax saver Fund	433,000	0.58	22.89	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	9.07	46.29	39.49	31.33	20.09
Diluted EPS (Rs.)	8.73	45.71	39.18	31.14	20.04
Cash EPS (Rs.)	18.06	56.48	46.26	34.51	22.86
Book Value[Excl.RevalReserv]/Share (Rs.)	292.39	315.97	268.16	170.44	142.37
Book Value[Incl.RevalReserv]/Share (Rs.)	292.39	315.97	268.16	170.44	142.37
Revenue From Operations / Share (Rs.)	240.54	268.63	217.08	180.09	154.15
PBDIT / Share (Rs.)	133.14	173.91	144.22	122.46	98.62
PBIT / Share (Rs.)	128.69	169.17	140.21	119.26	95.83
PBT / Share (Rs.)	16.66	67.41	55.53	40.46	26.52
Net Profit / Share (Rs.)	13.62	51.74	42.25	31.30	20.08
NP After MI And SOA / Share (Rs.)	8.92	46.22	39.43	31.29	20.06
PBDIT Margin (%)	55.34	64.74	66.43	67.99	63.97
PBIT Margin (%)	53.50	62.97	64.58	66.21	62.17
PBT Margin (%)	6.92	25.09	25.57	22.46	17.20
Net Profit Margin (%)	5.66	19.26	19.46	17.38	13.02
NP After MI And SOA Margin (%)	3.70	17.20	18.16	17.37	13.01
Return on Networth / Equity (%)	3.05	16.58	16.68	18.37	14.10
Return on Capital Employeed (%)	38.16	52.09	24.42	26.48	22.18
Return On Assets (%)	0.55	2.82	2.83	2.58	1.86
Long Term Debt / Equity (X)	0.00	0.00	1.24	1.61	1.97
Total Debt / Equity (X)	4.11	4.39	4.40	5.53	5.99
Asset Turnover Ratio (%)	0.15	0.17	0.11	0.12	0.12
Current Ratio (X)	1.22	1.22	1.65	1.54	1.61
Quick Ratio (X)	1.22	1.22	1.65	1.54	1.61
Dividend Payout Ratio (NP) (%)	0.00	10.33	11.57	11.18	14.93
Dividend Payout Ratio (CP) (%)	0.00	9.37	10.50	10.14	13.11
Earning Retention Ratio (%)	0.00	89.67	88.43	88.82	85.07
Cash Earning Retention Ratio (%)	0.00	90.63	89.50	89.86	86.89
Interest Coverage Ratio (X)	1.36	1.71	1.70	1.55	1.42
Interest Coverage Ratio (Post Tax) (X)	1.28	1.51	1.50	1.40	1.29
Enterprise Value (Cr.)	62310.79	56843.72	53544.80	38394.62	38123.89
EV / Net Operating Revenue (X)	6.10	5.55	6.48	5.62	6.53
EV / EBITDA (X)	11.03	8.57	9.76	8.26	10.20
MarketCap / Net Operating Revenue (X)	1.36	1.27	2.25	1.58	1.82
Retention Ratios (%)	0.00	89.66	88.42	88.81	85.06
Price / BV (X)	1.12	1.22	2.07	1.67	1.98
Price / Net Operating Revenue (X)	1.36	1.27	2.25	1.58	1.82
EarningsYield	0.02	0.13	0.08	0.10	0.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of IIFL Finance Ltd and is it undervalued?

IIFL Finance Ltd: the stored intrinsic value estimate is ₹379.53, compared with a stored share price of ₹633.00. The model value is 40.0% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for IIFL Finance Ltd?

The stored share price is ₹633.00. Price-data record updated: 24 September 2026, 2:35 am +05:30. This is not a live quote. The stored 52-week high / low is 705/409; this is a rolling range, not a financial-year range.

How have IIFL Finance Ltd's revenue and profit changed?

Does IIFL Finance Ltd's profit convert into cash?

How should I compare IIFL Finance Ltd's P/E with other stocks?

The stored P/E is 12.90. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change IIFL Finance Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.