IIFL FINANCEIIFL Finance LimitedNSE:IIFLTechnicalAnalystSucritIIFL Finance Ltd. (CMP ₹545.00, NSE: IIFL) Prepared by Sucrit Patil | The SmartWay Research Desk | 10 July 2026 A Mumbai‑based diversified financial services company, incorporated in 1995. IIFL Finance operates across retail loans, gold loans, housing finance, microfinance, and wealth management, serving over 8 million customers across India. Promoter Holding (Mar 2026): Nirmal Jain & R. Venkataraman — 24.92% stake (no pledges) FY22–FY26 Snapshot Revenue Growth: FY26 revenue ₹8,842 Cr vs ₹7,912 Cr in FY25 (+11.7% YoY). → Good Net Profit: FY26 PAT ₹1,215 Cr vs ₹1,082 Cr in FY25 (+12.3% YoY). → Good Operating Margin: FY26 EBITDA ₹2,012 Cr, margin 22.7% vs 21.9% last year (+80 bps). → Good Equity Capital: Stable, face value ₹2. → Good Dividend Policy: Dividend ₹10.00/share declared for FY26. → Good Asset Building: Investments in digital lending platforms and housing finance subsidiaries. → Good Sales: Strong demand from gold loans and retail credit. → Good Expense: Credit cost pressures remain; GNPA ~2.1%. → Neutral/Good EPS: FY26 EPS ₹38.25 vs ₹34.10 last year (+12.2%). → Good Institutional Interest & Ownership Trends (Mar 2026) Promoter Holding: 24.92% (no pledges) FII Holding: 21.12% DII Holding: 28.34% Retail & Others: 25.62% Strategic Moves & Innovations Expansion in digital lending and fintech partnerships. Focus on gold loans and affordable housing finance. Partnerships with NBFCs and banks for co‑lending. Diversification into microfinance and SME lending. Cash Flow & Balance Sheet Strength Market cap ~₹20,200 Cr. Debt‑to‑equity ratio ~3.2 (high leverage typical of NBFCs). Book value per share ₹182.40; P/B ~2.99. EPS (TTM) ₹38.25; P/E ~14.2. Risk Factors Dependence on interest rate cycles and RBI regulations. Exposure to credit risk in retail and SME segments. Competition from Bajaj Finance, Muthoot Finance, and Manappuram Finance. Margin pressure if credit costs rise. Investor Takeaway IIFL Finance has delivered steady FY26 performance, with revenue and profit growth supported by gold loans, housing finance, and digital lending. With promoter backing, dividend payouts, and diversified operations, IIFL remains a mid‑cap NBFC play. At CMP ₹545.00, valuations are reasonable (P/E ~14.2, P/B ~2.99), making it attractive for investors seeking exposure to India’s retail lending and financial services growth.