Indian Railway Finance Corp (IRFC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+3.83%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 1.2%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 12.8%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹83.67

200-Day DMA ● Overlay

₹77.60

14-Day RSI ● Overlay

65.4 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.01 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

14.0x

Price / EPS

Book Value (₹) Assets

₹43.4

P/B: 1.8x

ROE (%) Quality

12.8%

Net Profit / Equity

ROCE (%) Efficiency

5.6%

EBIT / Capital

Dividend Yield Yield

2.73%

Face Value: ₹10

Debt / Equity Solvency

0.00x

Low Debt

EPS (TTM) Per Share

₹5.50

Trailing 12M

OPM (%) Spread

97.8%

EBITDA Margin

Free Cash Flow Cash

-₹27,030 Cr

CFO - Capex

About Indian Railway Finance Corp

INDIAN RAILWAY FIN CORP L (IRFC) is an Indian publicly traded enterprise listed on the National Stock Exchange (NSE).

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 70.4% × Turnover: 0.85x × Leverage: 1x = ROE: 12.8%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Stock is trading at an attractive price-to-book multiple of 1.8x.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹7,333 Cr

Latest PAT

₹7,191 Cr

EPS (TTM)

₹5.50

OPM %

97.8%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Operating Profit (EBITDA)	-₹29.00 Cr	-₹34.00 Cr	-₹35.00 Cr	-₹34.00 Cr	-₹33.00 Cr	-₹38.00 Cr	-₹39.00 Cr	-₹44.00 Cr	-₹47.00 Cr	-₹49.00 Cr	-₹104.00 Cr	-₹118.00 Cr	-₹42.00 Cr
OPM %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest Expense	₹5,091 Cr	₹5,181 Cr	₹5,104 Cr	₹4,725 Cr	₹5,155 Cr	₹5,249 Cr	₹5,095 Cr	₹4,996 Cr	₹5,124 Cr	₹4,544 Cr	₹4,812 Cr	₹5,524 Cr	₹6,421 Cr
Depreciation	₹4.00 Cr	₹2.00 Cr	₹1.00 Cr	₹2.00 Cr	₹2.00 Cr	₹1.00 Cr	₹1.00 Cr	₹1.00 Cr	₹1.00 Cr	₹1.00 Cr	₹1.00 Cr	₹2.00 Cr	₹1.00 Cr
Profit before Tax (PBT)	₹1,557 Cr	₹1,545 Cr	₹1,599 Cr	₹1,717 Cr	₹1,577 Cr	₹1,613 Cr	₹1,631 Cr	₹1,682 Cr	₹1,746 Cr	₹1,777 Cr	₹1,802 Cr	₹1,684 Cr	₹1,927 Cr
Net Profit (PAT)	₹1,557 Cr	₹1,545 Cr	₹1,599 Cr	₹1,717 Cr	₹1,577 Cr	₹1,613 Cr	₹1,631 Cr	₹1,682 Cr	₹1,746 Cr	₹1,777 Cr	₹1,802 Cr	₹1,684 Cr	₹1,927 Cr
EPS in ₹	₹1.19	₹1.18	₹1.22	₹1.31	₹1.21	₹1.23	₹1.25	₹1.29	₹1.34	₹1.36	₹1.38	₹1.29	₹1.47

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Expenses	₹34.00 Cr	₹38.00 Cr	₹26.00 Cr	₹38.00 Cr	₹48.00 Cr	₹66.00 Cr	₹113.00 Cr	₹123.00 Cr	₹134.00 Cr	₹133.00 Cr	₹154.00 Cr	₹318.00 Cr	₹313.00 Cr
Operating Profit	-₹34.00 Cr	-₹38.00 Cr	-₹26.00 Cr	-₹38.00 Cr	-₹48.00 Cr	-₹66.00 Cr	-₹113.00 Cr	-₹123.00 Cr	-₹134.00 Cr	-₹133.00 Cr	-₹154.00 Cr	-₹318.00 Cr	-₹313.00 Cr
OPM %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Interest	₹4,992 Cr	₹5,519 Cr	₹6,888 Cr	₹6,638 Cr	₹8,183 Cr	₹10,163 Cr	₹11,237 Cr	₹14,075 Cr	₹17,447 Cr	₹20,101 Cr	₹20,495 Cr	₹20,005 Cr	₹21,302 Cr
Depreciation	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹4.00 Cr	₹14.00 Cr	₹14.00 Cr	₹9.00 Cr	₹5.00 Cr	₹6.00 Cr	₹6.00 Cr
Profit before Tax	₹1,914 Cr	₹1,950 Cr	₹2,133 Cr	₹2,592 Cr	₹2,902 Cr	₹3,192 Cr	₹4,416 Cr	₹6,090 Cr	₹6,337 Cr	₹6,412 Cr	₹6,502 Cr	₹7,009 Cr	₹7,191 Cr
Net Profit	₹758.00 Cr	₹849.00 Cr	₹934.00 Cr	₹2,055 Cr	₹2,255 Cr	₹3,192 Cr	₹4,416 Cr	₹6,090 Cr	₹6,337 Cr	₹6,412 Cr	₹6,502 Cr	₹7,009 Cr	₹7,191 Cr
EPS in Rs	211.58	187.50	143.08	3.15	2.40	2.69	3.38	4.66	4.85	4.91	4.98	5.36	5.50

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹3,584 Cr	₹4,526 Cr	₹6,526 Cr	₹6,526 Cr	₹9,380 Cr	₹11,880 Cr	₹13,069 Cr	₹13,069 Cr	₹13,069 Cr	₹13,069 Cr	₹13,069 Cr	₹13,069 Cr
Reserves & Surplus	₹5,098 Cr	₹6,999 Cr	₹5,483 Cr	₹7,402 Cr	₹15,648 Cr	₹18,419 Cr	₹22,845 Cr	₹27,928 Cr	₹32,402 Cr	₹36,110 Cr	₹39,599 Cr	₹43,680 Cr
Borrowings (Debt)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Total Liabilities	₹87,647 Cr	₹1.08 Lakh Cr	₹1.30 Lakh Cr	₹1.61 Lakh Cr	₹2.07 Lakh Cr	₹2.76 Lakh Cr	₹3.80 Lakh Cr	₹4.50 Lakh Cr	₹4.91 Lakh Cr	₹4.85 Lakh Cr	₹4.89 Lakh Cr	₹5.17 Lakh Cr
Fixed Assets	₹12.00 Cr	₹12.00 Cr	₹12.00 Cr	₹11.00 Cr	₹11.00 Cr	₹11.00 Cr	₹45.00 Cr	₹38.00 Cr	₹19.00 Cr	₹22.00 Cr	₹18.00 Cr	₹18.00 Cr
Total Assets	₹87,647 Cr	₹1.08 Lakh Cr	₹1.30 Lakh Cr	₹1.61 Lakh Cr	₹2.07 Lakh Cr	₹2.76 Lakh Cr	₹3.80 Lakh Cr	₹4.50 Lakh Cr	₹4.91 Lakh Cr	₹4.85 Lakh Cr	₹4.89 Lakh Cr	₹5.17 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹0 Cr	-₹16,378 Cr	-₹19,455 Cr	-₹28,076 Cr	-₹41,748 Cr	-₹62,701 Cr	-₹89,907 Cr	-₹64,412 Cr	-₹28,584 Cr	₹7,914 Cr	₹8,230 Cr	-₹27,026 Cr
Cash from Investing (CFI)	₹0 Cr	₹2.00 Cr	₹2.00 Cr	₹2.00 Cr	₹1.00 Cr	₹1.00 Cr	₹0 Cr	-₹5.00 Cr	₹0 Cr	-₹8.00 Cr	₹0 Cr	-₹3.00 Cr
Cash from Financing (CFF)	₹0 Cr	₹17,582 Cr	₹18,250 Cr	₹28,075 Cr	₹41,749 Cr	₹62,697 Cr	₹90,202 Cr	₹64,266 Cr	₹28,643 Cr	-₹8,046 Cr	-₹2,572 Cr	₹21,560 Cr
Free Cash Flow (FCF)	₹0 Cr	-₹16,378 Cr	-₹19,455 Cr	-₹28,076 Cr	-₹41,749 Cr	-₹62,701 Cr	-₹89,907 Cr	-₹64,419 Cr	-₹28,585 Cr	₹7,906 Cr	₹8,229 Cr	-₹27,030 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	30	30	30	30	30	30	30	30	30	30	30	30
Inventory Days	45	45	45	45	45	45	45	45	45	45	45	45
Cash Conversion Cycle (Days)	25	25	25	25	25	25	25	25	25	25	25	25
ROCE %	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%	5.64%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹84.00 • Fairly Valued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹86.70

DCF Fair Value

₹84.00

Graham Number

₹73.29

Margin of Safety

-8.7%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹84.00

Fairly Valued (Margin: -8.7%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹82	₹81	₹80	₹80
10%	₹83	₹83	₹82	₹81
12%	₹85	₹84	₹83	₹83
14%	₹86	₹86	₹85	₹84

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹84	Fairly Valued
Benjamin Graham Number	₹73	Market Priced
Historical Sector P/E	₹121	Discounted
EV / EBITDA Multiplier	₹91	In-Line
Free Cash Flow Yield Model	₹85	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 7/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

7 / 9 Pass

Altman Z-Score

5.62 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.00x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 97.8%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

82.90%

FIIs (Foreign)

1.17%

DIIs (Domestic)

3.98%

Government

0.15%

Public / Retail

11.94%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	86.36%	86.36%	86.36%	86.36%	86.36%	86.36%	86.36%	86.36%	86.36%	86.36%	84.65%	82.90%
+ FIIs (Foreign Portfolio)	1.14%	1.15%	1.08%	1.11%	1.09%	1.01%	0.98%	0.93%	0.97%	0.98%	1.16%	1.17%
+ DIIs (Mutual Funds / Insurance)	1.63%	1.15%	0.89%	1.08%	1.08%	1.24%	1.34%	1.45%	1.48%	1.54%	2.89%	3.98%
+ Public (Retail & HNIs)	10.88%	11.34%	11.68%	11.45%	11.48%	11.40%	11.32%	11.24%	11.17%	11.10%	11.29%	11.94%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Financial Services.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

IRFC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

IRFC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

IRFC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹110.98

Accelerated market share capture in Financial Services, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹97.10

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 14x P/E.

🐻 Bear Case (15%) -12.0%

₹76.30

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Financial Services)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:48 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	Market Cap
★ Indian Railway Finance Corp (IRFC)	Target Stock	₹86.70	+3.83%	14.0x	12.8%	5.6%	₹1.01 Lakh Cr
HDFC Bank Ltd (HDFCBANK)	Private Sector Bank	₹806.60	+1.06%	14.1x	13.6%	7.0%	₹11.12 Lakh Cr
ICICI Bank Ltd (ICICIBANK)	Private Sector Bank	₹1,571.60	-1.10%	16.8x	15.9%	7.2%	₹9.41 Lakh Cr
State Bank of India (SBIN)	Public Sector Bank	₹1,061.20	+1.84%	10.5x	15.4%	6.1%	₹8.81 Lakh Cr
Bajaj Finance Ltd (BAJFINANCE)	Non-Banking Financial Company (NBFC)	₹1,078.80	+1.31%	28.8x	18.2%	10.9%	₹5.90 Lakh Cr
Kotak Mahindra Bank Ltd (KOTAKBANK)	Private Sector Bank	₹487.70	+1.71%	20.7x	11.4%	7.0%	₹4.14 Lakh Cr
Axis Bank Ltd (AXISBANK)	Private Sector Bank	₹1,336.40	+1.96%	13.6x	13.1%	6.2%	₹3.79 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:48:10 IST	✓ Live Sync
Financial Statements (10Y)	Indian Railway Finance Corp Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Indian Railway Finance Corp

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Indian Railway Finance Corp

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Financial Services)

Metric Explainer

Stock DNA Methodology

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