IIFL Capital Services Limited has informed the Exchange about revised Transcript
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IIFL Capital Services filed a revised Q1 FY26 earnings call transcript, correcting the new wealth management revenue figure from ₹8 crores (stated for one month) to ₹28 crores for the full quarter. Consolidated Q1 FY26 revenue was ₹680 crores, up 19% QoQ and 6% YoY, while PAT stood at ₹176 crores (up 37% QoQ, down 4% YoY). The company has added about 50 wealth management relationship managers and plans to grow this headcount by 50–60% during the year, alongside building its own PMS/AIF manufacturing capability. Management guided that the non-institutional cost-to-income ratio will stay elevated at around 75% this year, with scale benefits only expected from next year. Investment banking pipeline was described as 'quite strong' with optimism on full-year deal closures, though retail brokerage remains under pressure from the December 2024 regulatory changes.
The revision highlights a faster ramp-up in the new wealth business than originally conveyed, which is a positive signal. However, shareholders should expect margin pressure in FY26 due to elevated wealth build-out costs, partially offset by a strong investment banking pipeline and stable institutional equities revenues.