Board Meeting Details

The Board of Directors meeting was held on October 15, 2026, commencing at 11:15 AM IST and concluding at 03:35 PM IST.

Key Matters Approved

1. Financial Results Approval

The Board approved the Consolidated and Standalone Unaudited Financial Results for the quarter and half-year ended September 30, 2026. The following documents were enclosed:

  • Unaudited Financial Results with Limited Review Report (Annexure A)
  • Disclosures under Regulation 52(4) of Listing Regulations
  • Security Cover Certificate pursuant to Regulations 54 and 56 (Annexure B)
  • Statement of Utilization of Issue Proceeds & Deviation Statement for Non-Convertible Securities (Annexure C)

2. Management Re-designation

Based on Nomination and Remuneration Committee recommendation, Mr. R Venkataraman (DIN: 00011919) was re-designated from Joint Managing Director to Non-Executive Non-Independent Director effective October 15, 2026, subject to members' approval. He will cease to be a Key Managerial Personnel. Mr. Venkataraman's executive role is with IIFL Capital Services Limited and he has never drawn compensation from IIFL Finance Limited. Required disclosures are in Annexure D.

3. Acquisition Proposal

Board approved proposal to acquire India Infoline Foundation (a Section 8 company) from IIFL Capital Services Limited, subject to statutory and regulatory approvals. Disclosures are in Annexure E.

Financial Results Summary

Consolidated Financials (₹ in crore)

Quarter Ended September 30, 2026:

  • Total Income: ₹4,248.21
  • Profit Before Tax: ₹1,073.67
  • Net Profit After Tax: ₹805.01
  • EPS (Basic): ₹18.00; EPS (Diluted): ₹17.90

Half-Year Ended September 30, 2026:

  • Total Income: ₹8,170.09
  • Profit Before Tax: ₹2,002.31
  • Net Profit After Tax: ₹1,518.14
  • EPS (Basic): ₹33.88; EPS (Diluted): ₹33.67

Standalone Financials (₹ in crore)

Quarter Ended September 30, 2026:

  • Total Income: ₹2,614.33
  • Profit Before Tax: ₹742.97
  • Net Profit After Tax: ₹548.53
  • EPS (Basic): ₹12.89; EPS (Diluted): ₹12.81

Half-Year Ended September 30, 2026:

  • Total Income: ₹4,958.88
  • Profit Before Tax: ₹1,347.86
  • Net Profit After Tax: ₹1,015.64
  • EPS (Basic): ₹23.87; EPS (Diluted): ₹23.73

Key Financial Metrics

Consolidated Ratios (Half-Year Ended September 30, 2026):

  • Debt-Equity Ratio: 4.87
  • Net Gearing Ratio: 4.08
  • Net Worth: ₹15,002.36 crore
  • GNPA: 1.48%
  • NNPA: 0.87%
  • Specific Provision Coverage: 41.28%

Standalone Ratios (Half-Year Ended September 30, 2026):

  • Debt-Equity Ratio: 5.97
  • Net Gearing Ratio: 4.65
  • Net Worth: ₹8,384.29 crore
  • GNPA: 1.30%
  • NNPA: 0.88%
  • Specific Provision Coverage: 32.60%
  • CRAR: 17.03% (Tier I: 12.45%, Tier II: 4.58%)
  • Liquidity Coverage Ratio: 286.24%

Significant Events

Income Tax Search and Demands

The Income-tax Department conducted a search under Section 132 in January 2025 at IIFL Finance Limited and IIFL Home Finance Limited.

IIFL Finance Limited:

  • Filed return for block period April 1, 2018 to February 3, 2025, disclosing additional income of ₹2.35 crore
  • Received assessment order dated May 12, 2026 with tax demand of ₹475.56 crore
  • Appeal filed with appellate authority
  • Stay granted subject to payment of 5% of demand in installments
  • Company has complied with stay conditions

IIFL Home Finance Limited:

  • Filed nil return for same block period
  • Received assessment order dated August 23, 2026 with tax demand of ₹963.39 crore
  • Appeal filed with relevant authority
  • Management believes adequate grounds exist for favorable outcome

Fund Raising Activity

During the quarter, the Company issued USD 300,000,000 aggregate principal amount of 7.60% p.a. Fixed Rate, Senior, Secured Notes due 2030 under its USD 1,500,000,000 Global Medium Term Note Programme. Notes were issued on July 10, 2026 and are listed on India International Exchange (IFSC) Limited and NSE IFSC Limited.

Share Allotment

During the quarter, the Company allotted 14,86,903 equity shares (face value ₹2 each) on exercise of stock options under Employee Stock Option Schemes.

Subsidiary Information

The consolidated financial results include:

1. IIFL Home Finance Limited (including subsidiary IIHFL Sales Limited)

2. IIFL Samasta Finance Limited

3. IIFL Fintech Private Limited (including subsidiary Xtracap Fintech Private Limited w.e.f. June 11, 2026)

The auditors' review report notes that they did not review two subsidiaries and one subsidiary's standalone results, which represent significant amounts:

  • Total assets: ₹43,837.91 crore as at September 30, 2026
  • Total revenues: ₹1,633.62 crore (Q2) and ₹3,215.45 crore (H1)
  • Net profit after tax: ₹255.75 crore (Q2) and ₹502.12 crore (H1)
  • Net cash outflows: ₹1,356.28 crore (H1)

Business Segment Information

The Group's main business is financing and investing activities, with all activities carried out within India. There are no separate reportable segments as per Ind AS 108.