Performance Highlights: Q2 FY27

Financial Results Summary

IIFL Capital Services Limited reported unaudited financial results for Q2 FY27 (quarter ended September 30, 2026) showing strong growth across key metrics:

Revenue Performance:

  • Total Revenue from Operations: ₹7,219 Mn in Q2FY27, representing 14% QoQ growth from ₹6,315 Mn in Q1FY27 and 22% YoY growth from ₹5,916 Mn in Q2FY26
  • H1FY27 Total Revenue: ₹13,534 Mn, up 12% from ₹12,089 Mn in H1FY26

Revenue Breakdown Q2FY27:

  • Retail Equities: ₹3,160 Mn (17% YoY growth)
  • Institutional Equities and Investment Banking: ₹2,445 Mn (31% YoY growth)
  • Financial Product Distribution: ₹1,594 Mn (23% YoY growth)
  • Rental Income: ₹21 Mn

Profitability:

  • Operating Profit Before Tax: ₹2,059 Mn in Q2FY27, up 38% QoQ and 25% YoY
  • Profit Before Tax: ₹1,743 Mn in Q2FY27, down 27% QoQ but up 45% YoY
  • Profit After Tax: ₹1,266 Mn in Q2FY27, down 31% QoQ but up 49% YoY from ₹851 Mn
  • H1FY27 PAT: ₹3,108 Mn, up 19% from ₹2,607 Mn in H1FY26

Expense Management:

  • Employee cost: ₹1,939 Mn (26% YoY increase)
  • Finance cost: ₹748 Mn (40% YoY increase)
  • Fees and Commission expense: ₹1,338 Mn (13% YoY increase)

Business Segment Performance

Institutional Equities & Investment Banking:

  • Successfully completed 28 transactions in Q2 FY27 across Capital Markets and Advisory
  • Completed 19 IPOs, 6 QIPs, 2 OFSs, and 1 advisory transaction
  • Filed 13 Draft Red Herring Prospectuses (DRHPs) during the quarter
  • Ranked #1 in Equity IPOs for CY26
  • Notable transactions included:
  • LIC OFS: ₹3,14,130 Mn (August 2026)
  • NSE IPO: ₹2,25,616 Mn (September 2026) as BRLM
  • Adani Enterprises QIP: ₹1,50,000 Mn (July 2026) as BRLM
  • Knowledge Realty Trust OFS: ₹1,19,880 Mn (September 2026)

Non-Institutional Segment Business:

  • Assets Under Management and Custody: ₹2,642 Bn
  • Net worth: ₹34.6 Bn
  • Distribution network: 2,600+ partners and 90+ branches across India
  • Institutional sales presence across Mumbai, Singapore, London, and New York
  • Research team of 48 professionals covering 328+ stocks across 20+ sectors (69% of India's market capitalization)
  • Serving 1,150+ domestic and global institutional clients

Fairfax Investment Update

  • Received all requisite regulatory and shareholder approvals for proposed change in control
  • FIH Mauritius Investments Ltd and its affiliate ("Fairfax") acquiring up to 51% stake in the Company
  • Acquisition through preferential allotment, open offer and arrangements with existing promoters
  • Preferential allotment and open offer under implementation, to be completed within statutory timelines
  • Capital infusion of approximately ₹20 billion expected to support growth across broking, wealth and asset management, institutional equities, investment banking
  • Fairfax will join Promoter Group alongside existing promoters upon completion
  • FIH Mauritius Investments Ltd will have right to nominate up to two directors to the Board

Corporate Governance

  • Board with 50% independent directors
  • Clear separation of roles between Chairman and Managing Director
  • Board members include:
  • Ms. Rekha Warrier (Chairperson and Independent Director)
  • R Venkataraman (Managing Director)
  • V. Krishnan (Independent Director)
  • Narendra Jain (Wholetime Director)
  • Anand Bathiya (Independent Director)
  • Shamik Das Sharma (Independent Director)

CSR Initiatives

Sakhiyon Ki Baadi:

  • Provides foundational literacy and numeracy education to out-of-school children aged 4-14 years
  • 715 community-owned centers operational, benefiting 18,706 children
  • 2,564 children mainstreamed into formal schooling
  • 116 new centers added

Vocational Training in Assam:

  • 2-year NEP 2020-aligned vocational program for Class 11-12 students in rural government schools
  • Courses in Tailoring, Mobile Repairing, Beautician Skills, and Electrical Work
  • Currently benefiting 240 students

Miyawaki Plantation in Udaipur:

  • Planted 11,000 mixed native tree species using Miyawaki methodology
  • Expected to sequester approximately 275 tons of carbon annually

Classroom Construction Support in Kanchipuram:

  • Supporting construction of classroom at Ramakrishna Mission Vivekananda Jnanapitham
  • CBSE-affiliated school in Thirumukkudal, Kanchipuram District, Tamil Nadu