NSE/IRFC

IRFCIndian Railway Finance Corporation

Financial Services · NSE

₹104.84+1.55%

52-wk low52-WEEK RANGE52-wk high

₹87.23+20.2% from low ·-28.7% from high₹146.96

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

IRFC-14.81% · 1Y

Range high ₹148.95Range low ₹87Latest ₹104.84252 bars · daily-close · NSE bhavcopy + 10Y history

Financial ServicesCredit ServicesLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite38/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -20.2% — underperformer
· Below 200-DMA (-12.3%) — downtrend

Valuation

Medium

Valuation close to the sector median.

· P/E 19.2 close to sector median 18.5

Growth

Medium

Steady but not standout growth.

· Revenue YoY +10.6%
· Profit YoY +10.4%

Profitability

Medium

Average profitability vs peers.

· ROE 12.9%
· Net margin 98.9% — strong pricing power

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeD(43/100)

Durability

33/100

Durability concerns flagged across multiple health inputs.

Show 4 drivers

Piotroski F-score6/9 (67pt)
Altman Z" score0.27 (7pt)
Debt/Equity7.45 (0pt)
ROE12.9% (52pt)

Valuation

54/100

Trading at a premium — growth must keep delivering to justify.

Show 3 drivers

P/E vs sector (19.2 / 18.5)104% (58pt)
P/B2.38 (40pt)
Dividend yield2.77% (69pt)

Momentum

41/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change-20.2% (0pt)
DMA-trend alignmentsideways (50pt)
RSI (14)61.4 (94pt)
Price vs 200-DMA-12.0% (36pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)19.22

FAIR

CheapestP/E 19.2 near sector median.Most expensive

P/B2.38

FAIR

CheapestP/B 2.38 at 55th %ile of sector.Most expensive

Monthly seasonality

Avg monthly return over 5 years · historical — not a forecast

Best: Jan +15.53% · Worst: Feb -13.68%

Jan

+15.5%

80% win

Feb

-13.7%

0% win

Mar

-2.9%

17% win

Apr

+7.8%

83% win

May

+6.5%

80% win

Jun

-0.3%

Monthly return distribution

Distribution of 63 monthly returns

Mean

+3.39%

Median

-0.20%

Std dev

16.17%

Best

+76.3%

Worst

-25.5%

% positive

48%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 1

Strong net margin (98.9%)
High margin indicates pricing power + operating efficiency

WEAKNESSES · 2

Leveraged balance sheet (D/E 7.45)
High debt amplifies earnings volatility in downturns
Distress-zone Altman Z″ (0.27)
Historically associated with elevated bankruptcy probability

OPPORTUNITIES · 1

Attractive income yield (2.77%)
Payout ratio 35% leaves room for dividend growth

THREATS · 1

Net debt is 312% of market cap
Financing costs become material in rising-rate regimes

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+1.5%

+4.6%

+7.9%

-15.6%

-16.5%

-15.7%

+55.8%

+32.5%

10Y

+31.9%

Fundamentals

VALUATION

Market cap

₹1,34,632 Cr

P/E (TTM)

19.2

P/E (fwd)

14.9

next 12m

P/B

2.38

EV/EBITDA

—

Book value

₹43.36

per share

PROFITABILITY · QUALITY

ROE

12.9%

ROCE

—

Net margin

98.9%

Op margin

97.5%

Gross margin

100.0%

D/E

7.45

GROWTH · MARKET

Rev YoY

+10.6%

Profit YoY

+10.4%

Div yield

2.77%

Payout

34.5%

52w change

-20.2%

Beta

0.31

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 2

+Forward P/E materially below trailing (14.9x vs 19.2x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Strong operating margin (97.5%)Meaningful pricing power or cost discipline — above most Indian companies

CONS · 2

−Leveraged balance sheet (D/E 7.45)High debt amplifies earnings volatility and refinancing risk
−Down -20.2% over the last yearSignificant underperformance — could be opportunity or warning depending on fundamentals

Sector-relative context

Financial Services · 58 peers

P/E (TTM)

This stock

19.22

Sector median

18.51

Rank 29/58 (52th %ile)

ROE

This stock

12.9%

Sector median

13.6%

Rank 31/58 (48th %ile)

P/B

This stock

2.38

Sector median

2.13

Rank 32/58 (47th %ile)

Quality score · Piotroski F-score

6 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✗Positive operating cash flow· Profits are backed by real cash, not accruals
✗Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

DISTRESS0.27

Z″ = 0.27 — DISTRESS zone. Historical Altman-Z models have associated this range with elevated 2-year bankruptcy probability. Treat as a flag for deeper diligence, not a verdict.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.003	×6.56	0.017
Retained Earnings / Total Assets (B)	0.011	×3.26	0.034
EBIT / Total Assets (C)	0.026	×6.72	0.173
Book Equity / Total Liabilities (D)	0.041	×1.05	0.043

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

1 analysts · NONE

Target mean

₹64.00

Target high

₹64.00

Target low

₹64.00

Upside vs today

-37.9%

Street consensus target is -37.9% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Credit Services

Employees

Shares out

1,306.9

Revenue (TTM)

₹7,200 Cr

Total debt

₹4,21,629 Cr

Cash

₹1,163 Cr

Net debt

₹4,20,466 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	6,899	6,763	6,636	6,901	6,657
Operating profit	1,612	1,628	9,637	1,743	1,803
OPM %	23.4%	24.1%	145.2%	25.3%	27.1%
Depreciation	1

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	20,280	23,651	26,530	27,065
Operating profit	11,578	11,186	12,064	14,453
OPM %	57.1%	47.3%	45.5%	53.4%
Interest	5,460	5,114	5,723	7,991

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
IRFCTHIS Indian Railway Finance Corporation Limited	₹104.84	-20.2%	1,34,632	19.2	2.38	12.9%	7.45	+10.6%
HDFCBANK HDFC Bank Limited	₹799.9	-58.5%	12,24,457	17.8	2.17	13.8%	—	-1.8%
SBIN State Bank of India	₹1,080.25	+32.3%	10,22,614	12.1	1.73	14.3%	—	+14.5%
ICICIBANK ICICI Bank Limited	₹1,346.8	-4.5%	9,71,609	18.5	2.78	16.4%	—	+66.9%
BAJFINANCE Bajaj Finance Limited	₹908.25	-90.2%	5,70,505	31.7	5.52	17.4%	3.10	+6.4%
AXISBANK Axis Bank Limited	₹1,359.1	+11.1%	4,21,100	16.1	2.03	13.6%	—	+5.7%
KOTAKBANK Kotak Mahindra Bank Limited	₹383.6	-82.9%	3,77,170	20.1	2.24	11.2%	—	+24.2%
BAJAJFINSV Bajaj Finserv Limited	₹1,838.9	-12.6%	2,92,438	30.5	3.81	12.5%	2.38	+24.8%
SHRIRAMFIN Shriram Finance Limited	₹1,036.95	+47.5%	2,45,891	21.5	3.24	15.1%	2.79	+21.4%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Date	Amount
2026-03-13	₹1.05
2025-10-24	₹1.05
2025-03-21	₹0.80
2024-11-12	₹0.80
2024-08-22	₹0.70
2023-11-10	₹0.80
2023-09-15	₹0.70
2022-11-17	₹0.80
2022-09-15	₹0.63
2021-11-10	₹0.77
2021-02-17	₹1.05

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	13,069	13,069	13,069	13,069
Reserves	4,744	7,775	10,945	13,141
Borrowings	3,88,440	4,18,935	4,12,039	4,12,133
Other liabilities	474	85	383	-0
Total liabilities	4,49,360	4,90,359	4,85,082	4,88,835
Fixed assets	36	18	21	14
Investments	2,24,042	2,24,777	2,06,731	1,77,813
Other assets	4	43	55	84
Total assets	4,49,360	4,90,359	4,85,082	4,88,835

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	-64,412	-28,588	7,914	8,230
CF Investing	-5	0	-8	-0
CF Financing	64,266	28,644	-8,046	-2,572
Net cash flow	-151	56	-140	5,658
Free cash flow	-64,419	-28,589	7,906	8,229

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	53.4%	45.5%	47.3%	57.1%
Net margin %	24.0%	24.2%	26.1%	30.0%
ROE %	25.9%	28.6%	31.9%	34.2%
ROCE %	3.3%	2.8%	2.7%	2.8%
Debt / Equity	15.72	17.16	20.10	21.81
Dividend payout %	46%	31%	30%	17%
Interest coverage	1.8×	2.1×	2.2×	2.1×
Revenue growth YoY	+2.0%	+12.2%	+16.6%	—
Profit growth YoY	+1.4%	+4.0%	+1.3%	—

IRFCIndian Railway Finance Corporation

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Financial Services

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Recent news

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Technical snapshot

Dividends + splits history

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Financial Services