Financial Performance Summary

Quarterly Performance (Q2FY27 vs Q1FY27 vs Q2FY26)

| Metric (₹ Crore) | Q2FY27 | Q1FY27 | Q-o-Q Change | Q2FY26 | Y-o-Y Change |

| Revenue From Operations | 722 | 631 | +14% | 592 | +22% |

| Operating Profit Before Tax | 206 | 149 | +38% | 164 | +25% |

| Profit Before Tax | 174 | 239 | -27% | 120 | +45% |

| Profit After Tax | 127 | 184 | -31% | 85 | +49% |

Half-Yearly Performance (H1FY27 vs H1FY26)

| Metric (₹ Crore) | H1FY27 | H1FY26 | Y-o-Y Change |

| Revenue from operations | 1,353 | 1,209 | +12% |

| Operating Profit Before Tax | 355 | 329 | +8% |

| Profit Before Tax | 414 | 347 | +19% |

| Profit After Tax | 311 | 261 | +19% |

Key Business Metrics

  • Total Assets Under Management: ₹2,64,154 crores as at September 30, 2026
  • Financial Product Distribution AUM: ₹60,772 crores, up 6% Q-o-Q
  • Average Daily Market Turnover (including F&O): ₹3,05,073 Crores (BSE + NSE), down 3% Q-o-Q but up 16% Y-o-Y
  • Branch Network: 90+ branches across India
  • Partnership Network: 2,600+ partners

Business Segment Performance

Non-Institutional Business

IIFL Capital maintains a significant presence in capital markets with extensive branch and partner network serving clients across India.

Investment Banking

Completed 28 deals across capital markets and private placement/advisory in Q2FY27. Key transactions include:

  • IPOs: National Stock Exchange of India, Horizon Industrial Parks, Leap India, MilkyMist Dairy, RentoMojo, Money View, Kanohar Electricals, Molbio Diagnostics, Manipal Payments, Laser Power & Infra
  • QIPs: Adani Enterprises Limited, Adani Energy Solutions, Aditya Infotech, Netweb Technologies
  • OFS: Life Insurance Corporation of India, Knowledge Realty trust
  • The deal pipeline remains robust with multiple transactions at various stages of execution

Strategic Developments

Fairfax Investment Update

The Company has received all requisite regulatory and shareholder approvals for Fairfax (FIH Mauritius Investments Ltd and its affiliate) acquiring up to 51% stake through:

  • Preferential allotment
  • Open offer
  • Arrangements with existing promoters

The preferential allotment and open offer are under implementation and will be completed within prescribed statutory timelines. Promoter arrangements are subject to open offer outcome.

Upon completion, Fairfax will join the Promoter Group alongside existing promoters and have the right to nominate up to two directors to the Board (shareholder approval already received).

NBFC Subsidiary Initiative

The Company proposes to incorporate a wholly owned subsidiary that will apply for an NBFC license. This aligns with the strategy to:

  • Expand financial services offerings
  • Develop dedicated lending and credit capabilities
  • Focus on HNI and UHNI clients

Subject to regulatory approvals, the subsidiary will offer structured lending solutions including:

  • Financing against financial assets
  • Promoter funding
  • Bespoke credit products for investment and liquidity needs

Leadership Succession Planning

The Board has approved the appointment of Mr. Vasudev Jagannath as Additional Director and Whole-time Director for three years (subject to approvals). With nearly two decades of Company experience, he will be re-designated as Managing Director effective January 1, 2027. Mr. R. Venkataraman will continue to serve on the Board.

Management Commentary

Mr. R. Venkataraman, Managing Director, stated: "In Q2FY27, we maintained strong operating momentum, with operating revenues growing 22% y-o-y. This performance was supported by growth witnessed in institutional equities, underscoring the resilience of our diversified platform amid market volatility."