IFCI LTD

Sanctions and disburses loan facilities to borrowers as a Government of India financial institution, operating as a public sector undertaking established in 1948. In FY26, it reported consolidated revenue of Rs 2,068.84 crore and net profit of Rs 434.71 crore on total assets of Rs 26,570.37 crore. The cost shape reflects a lending model: materials at 0.1% of revenue, employee costs at 17.2%, other operating expenses at 17.8%, and depreciation at 4.1%. Asset quality on a FY26 standalone basis is severely stressed, with gross non-performing assets at 95.79% and a Capital to Risk-Weighted Assets Ratio (CRAR) of -18.78%, alongside negative other equity of Rs -908.80 crore. A Serious Fraud Investigation Office (SFIO) report has been filed as a petition before the NCLT relating to facilities disbursed before end-FY17; the net book value of the impacted loans and investments stood at Rs 157.26 crore as of 31 December 2025, with the company stating necessary provisioning has already been done. Audit emphasis-of-matter notes flag a planned IFCI Group consolidation.