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- 🌟 Stock of the Week: IIFL Capital Services Ltd. (NSE: IIFLCAPS)
🌟 Stock of the Week: IIFL Capital Services Ltd. (NSE: IIFLCAPS)
🗓️ GoalFi Stock of the Week | 19 October 2025
GoalFi Social
October 19, 2025
Hello ,
IIFL Capital Services Ltd. (formerly IIFL Securities Ltd.) has emerged as a diversified player in India’s financial services space, integrating wealth management, broking, and investment banking under one umbrella. Backed by strong execution and high profitability, the company is steadily expanding its retail and institutional presence.
🌟 Stock of the Week: IIFL Capital Services Ltd. (NSE: IIFLCAPS)
📅 Featured in: GoalFi India Wealth & Financials & many other GoalFi baskets
🏢 Company Overview
Incorporated in 1996, IIFL Capital Services is part of the IIFL Group, providing retail and institutional equities, financial product distribution, commodity and currency broking, investment banking, and wealth management services. The company caters to over 30 lakh customers through a wide partner and branch network, with offices in Mumbai, Singapore, London, and New York.
🧭 Business Segments
Retail Broking (29% of FY24 revenue)
Offers trading and investment solutions across equities, commodities, currencies, and derivatives. The segment’s brokerage income grew 57% between FY22–FY24.Financial Product Distribution (17%)
Distributes third-party financial products like mutual funds, PMS, AIFs, and insurance. Revenue grew 83% between FY22–FY24.Institutional Broking (17%)
Provides research and corporate access to 930+ domestic and foreign clients, with a team of 43 analysts covering 281 stocks.Investment Banking (10%)
Offers IPO, QIP, M&A, and private equity advisory. Completed 59 capital market transactions in FY24, including the ₹6,560 Cr IPO of Bajaj Housing Finance and a ₹500 Cr QIP for PNB.Others (27%)
Includes real estate advisory, insurance broking, and subsidiary income.
⚙️ 📊 Financial Snapshot
Quarterly Performance (₹ Cr)
Quarter | Sales | Operating Profit | OPM % | Net Profit | EPS (₹) |
|---|---|---|---|---|---|
Jun 2025 | 617 | 221 | 36 | 176 | 5.66 |
Mar 2025 | 537 | 186 | 35 | 128 | 4.13 |
Jun 2024 | 640 | 300 | 47 | 182 | 5.91 |
YoY Growth | -3.6% | -26.3% | -11 pts | -3.3% | -4.2% |
Annual Snapshot (₹ Cr)
Metric | FY23 | FY24 | FY25 | YoY Growth |
|---|---|---|---|---|
Revenue | 1,361 | 2,217 | 2,520 | +13.7% |
Operating Profit | 475 | 933 | 1,115 | +19.5% |
Net Profit | 250 | 513 | 713 | +38.9% |
OPM % | 35 | 42 | 44 | +2 pts |
Dividend Payout % | 37 | 18 | 13 | -5 pts |
Key Valuation Metrics (as of Oct 17, 2025)
Metric | Value |
|---|---|
Market Cap | ₹10,580 Cr |
CMP | ₹341 |
P/E Ratio | 15.0x |
ROCE | 33.3% |
ROE | 31.6% |
OPM | 38.6% |
Debt | ₹937 Cr |
Debt-to-Equity | 0.37x |
Dividend Yield | 0.88% |
Book Value | ₹80.9 |
P/B Ratio | 4.21x |
EV/EBITDA | 6.58x |
Category | Holding % |
|---|---|
Promoters | 30.98 |
FIIs | 16.93 |
DIIs | 5.04 |
Public | 47.07 |
💡 Key Operational Highlights
Metric | FY22 | FY24 | H1FY25 |
|---|---|---|---|
AUM (₹ Bn) | 1,305 | 1,883 | 2,463 |
Avg. Daily Turnover (₹ Bn) | 788 | 2,631 | 2,598 |
Gross MTF Book (₹ Bn) | 5.38 | 10.95 | 12.63 |
Mutual Fund AUM (₹ Bn) | 71.3 | 108 | 154.7 |
⚖️ Pros & Cons
Pros:
Strong profit CAGR of 34.7% over 5 years
High and improving ROE (3-year avg: 28.8%)
Consistent dividend payout (~22.6%)
Cons:
Slight revenue degrowth YoY in Q1FY26
Moderate debt on the balance sheet