NSE: IDFCFIRSTB · BSE: 539437
IDFC FIRST BANK LIMITED
Operates as a private sector commercial bank earning revenue from four reporting segments — Retail Banking (56.8% of segment revenue), Treasury (31.0%), Wholesale Banking (10.8%) and Other Banking Business (1.2%) — through interest earned on loans and investments, transaction fees and allied charges. Retail Banking houses the bank's mass-retail deposits and lending products such as home loans, vehicle finance, personal loans and microfinance; Treasury books government securities and other fixed-income investments; Wholesale Banking serves corporate and commercial clients; and Other Banking Business captures the remaining fee-based and ancillary lines. The running loan book stands at Rs 3.05 lakh crore (up 20.6% YoY), customer deposits at Rs 3 lakh crore (up 16.6% YoY) and total deposits at Rs 3.12 lakh crore, with a CASA ratio of 50.8% — CASA deposits alone at Rs 1.59 lakh crore. Net interest margin is 5.96% (5.90% adjusted) and the credit-deposit ratio sits at 95.5%. Asset quality has improved, with gross NPA at 1.51%, net NPA at 0.44% and a slippage ratio of 2.49%; credit cost for the quarter was 153 bps. Funding cost — the interest paid on deposits and borrowings — is the principal input cost, alongside operating expenses and provisioning for bad loans; the bank carried a voluntary Rs 515 crore contingency provision in the quarter against macro and geopolitical risks. Capital adequacy (CRAR) is 15.05% with CET1 at 13.33%, and average LCR around 116%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail Banking (57%), Treasury (31%), Wholesale Banking (11%), Other Banking Business (1%), Unallocated (0%). Retail-heavy private sector bank in a growth and turnaround phase, with an improving asset quality profile and a stated ROA target of ~1% for FY27.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | 132 | 2,485 | 2,942 | 1,490 | 1,611 |
| EPS, as reported (₹) | 0.21 | 3.98 | 4.30 | 2.04 | 1.89 |
| ROE % · ROCE % | — · — | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 2,679 | 3,563 | 11,543 | 14,465 | 6,817 |
| Capex | — | — | — | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Profit before tax | 245 | 422 | 344 | 571 | 424 | 611 | 201 | 1,482 |
| Net profit | 212 | 340 | 296 | 453 | 348 | 479 | 331 | 1,148 |
| EPS (₹) | 0.28 | 0.46 | 0.40 | 0.62 | 0.35 | 0.54 | 0.38 | 1.33 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HDFC BANK LTD | 10,55,451 | 13.3 | — | — | — | — | — | — |
| ICICI BANK LTD. | 9,88,387 | 17.6 | — | — | — | — | — | — |
| KOTAK MAHINDRA BANK LTD | 4,39,694 | 11.5 | — | — | — | — | — | — |
| AXIS BANK LIMITED | 3,78,522 | 13.6 | — | — | — | — | — | — |
| FEDERAL BANK LTD | 85,395 | 18.2 | — | — | — | — | — | — |
| IDBI BANK LIMITED | 83,342 | 8.9 | — | — | — | — | — | — |
| INDUSIND BANK LIMITED | 66,304 | 50.1 | — | — | — | — | — | — |
| IDFC FIRST BANK LIMITED ◆ | 63,344 | 28.3 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.3 | 12.3 | 19 of 20 | 5% |
| Profit growth | 153.1 | 29.5 | 1 of 20 | 100% |
| Market cap | 63344 | 41392 | 8 of 20 | 63% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 25 Oct 2026 · IDFC FIRST Bank publishes Q2 FY27 earnings call recording | investor communications | low | — | — |
| 24 Oct 2026 · Board plans chair succession, executive re-appointment and director exit | management changes | medium | — | — |
| 24 Oct 2026 · Q2 FY27 profit after tax rises 196.5% despite lower net interest margin | investor communications | medium | — | — |
| 24 Oct 2026 · IDFC FIRST Bank Q2 FY27 profit rises 196.5% to Rs 1,045 crore | compliance | low | — | — |
| 24 Oct 2026 · IDFC FIRST Bank Q2 FY27 profit jumps 196% as asset quality improves | results | high | — | — |
| 24 Oct 2026 · Q2 FY27 net profit up 196% as income rises 20% and GNPA improves to 1.32% | results | high | — | — |
| 23 Oct 2026 · Bank allots 1.42 million shares under employee stock option plan | capital market events | low | — | — |
| 21 Oct 2026 · Bank approves 9.8 million employee stock options | general | low | — | — |
| 17 Oct 2026 · Crisil reaffirms ratings on IDFC FIRST Bank debt instruments and FDs | credit debt | medium | — | — |
| 12 Oct 2026 · IDFC First Bank schedules Q2 FY27 earnings call on October 24, 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.