Financial Performance: Q1 FY27 (Quarter Ended June 30, 2026)

Revenue Breakdown (₹ Mn)

| Segment | Q1FY27 | Q4FY26 | Q-o-Q | Q1FY26 | Y-o-Y | FY26 |

| Retail Equities | 2,972 | 2,981 | (0%) | 2,636 | 13% | 11,212 |

| Institutional Equities and Investment Banking | 2,068 | 1,623 | 27% | 2,037 | 2% | 7,119 |

| Financial Product Distribution | 1,252 | 1,816 | (31%) | 1,451 | (14%) | 5,904 |

| Rental Income | 22 | 23 | (3%) | 51 | (56%) | 153 |

| Total Revenue from Operations | 6,315 | 6,443 | (2%) | 6,174 | 2% | 24,388 |

Expense Breakdown (₹ Mn)

| Expense Category | Q1FY27 | Q4FY26 | Q-o-Q | Q1FY26 | Y-o-Y | FY26 |

| Employee cost | 1,788 | 1,826 | (2%) | 1,763 | 1% | 6,875 |

| Finance Cost | 599 | 627 | (5%) | 403 | 48% | 2,097 |

| Depreciation amortisation and expense | 165 | 168 | (2%) | 162 | 2% | 651 |

| Fees and Commission expense | 1,388 | 1,516 | (8%) | 1,340 | 4% | 5,341 |

| Administration and other expense | 880 | 864 | 2% | 860 | 2% | 3,504 |

| Total Expenses | 4,820 | 5,002 | (4%) | 4,529 | 6% | 18,468 |

Profitability Metrics (₹ Mn)

| Metric | Q1FY27 | Q4FY26 | Q-o-Q | Q1FY26 | Y-o-Y | FY26 |

| Operating Profit Before Tax | 1,495 | 1,441 | 4% | 1,645 | (9%) | 5,920 |

| MTM Investments & Others | 898 | 105 | 756% | 630 | 43% | 1,643 |

| Profit Before Tax | 2,393 | 1,546 | 55% | 2,275 | 5% | 7,563 |

| Provision For Tax | 551 | 395 | 40% | 520 | 6% | 1,927 |

| Profit After Tax | 1,842 | 1,151 | 60% | 1,755 | 5% | 5,636 |

| Other Comprehensive Income | (44) | 1 | (3,139%) | (10) | 330% | (16) |

| Total Comprehensive Income | 1,797 | 1,153 | 56% | 1,745 | 3% | 5,620 |

Notes:

  • Employee cost includes one-time statutory impact of new labour code amounting to ₹71 Mn in FY26
  • MTM Investments & Others includes gain on sale of property amounting to ₹897 Mn in FY26

Business Segment Performance

Investment Banking Division (Q1 FY27)

  • Successfully completed 11 transactions across Capital Markets and Advisory
  • Transactions included: 3 QIPs, 1 IPO, and 1 Open Offer, along with private placement and advisory mandates
  • Filed 5 Draft Red Herring Prospectuses (DRHPs) during the quarter
  • Deal pipeline remains robust, expected to be executed over next 4-6 quarters subject to market conditions

Selected Transactions (Q1 FY27)

  • ₹28,000 Mn - Acme Solar Holdings (Jun 2026 BRLM)
  • ₹15,000 Mn - Krishna Institute of Medical Sciences (Jun 2026 BRLM)
  • ₹3,500 Mn - KRN Heat Exchanger (Jun 2026 BRLM)
  • ₹40,150 Mn - Bagmane Prime Office REIT (May 2026 BRLM)
  • Yes Madam Technologies (May 2026 Sole Advisor)
  • SSF Plastics India (Apr 2026 Sole Advisor)
  • Zenrock Chemicals - Indo Borax and Chemicals (May 2026 Manager to Offer)

Business Metrics

  • Assets Under Management and Custody: ₹2,571 Bn (2,571,000 Mn)
  • Net worth: ₹33.1 Bn
  • Research team: 48 professionals covering 317+ stocks across 20+ sectors (68% of India's market capitalization)
  • Distribution network: 2,600+ partners and 100+ branches across India
  • Institutional sales presence: Mumbai, Singapore, London, and New York
  • Serving 1,100+ domestic and global institutional clients

In-House Investment Engine

  • PMS & AIF Total AUM: ₹4,402 Cr

Corporate Updates

Fairfax Acquisition

  • Fairfax Financial Holdings subscribed to 2.62 crore shares on June 01, 2026
  • Upon completion, Fairfax will join Promoter Group alongside existing promoters
  • Subject to shareholder and regulatory approval, FIH Mauritius Investment Ltd. will have right to nominate two Directors
  • Preferential issue expected to support scale-up across broking, wealth management, asset management, institutional equities, investment banking

Board of Directors

  • Ms. Rekha Warrier - Chairperson and Independent Director (Masters - Applied Mathematics & Public Policy, ex-RBI)
  • R Venkataraman - Managing Director (PGDM-IIM Bangalore, BE - IIT Kharagpur, Co-Promoter of IIFL Group)
  • V. Krishnan - Independent Director (Cost Accountant, LLB, ex-Barclays, Deutsche Bank, JP Morgan)
  • Narendra Jain - Wholetime Director (Chartered Accountant, ex-ICICI Brokerage Services Ltd. and HPCL)
  • Anand Bathiya - Independent Director (Chartered Accountant, Company Secretary, LLB)
  • Shamik Das Sharma - Independent Director (M.S., University of Maryland, B. Tech, IIT Kharagpur)

ESG and CSR Initiatives

CSR Programs

  • Sakhiyon Ki Baadi: 715 community-owned centers benefiting 18,342 children across 14 districts of Rajasthan
  • IIT Bombay Scholarship: Four-year full academic scholarships to 75 first-year undergraduate students (2025-29 batch)
  • Tattva University: Supporting establishment of multidisciplinary, research-oriented deemed-to-be university in Navi Mumbai
  • Vocational Training: 2-year NEP 2020-aligned program for Class 11-12 students in rural government schools of Assam, benefiting 240 students