IIFL Capital Services Limited — Investor Meet, 11-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

IIFL Capital's FY26 operational revenue stood at INR 2,439 Cr, flat YoY. Retail revenues declined 9% to INR 1,121 Cr due to regulatory changes, but Institutional & IB revenues grew 11% to INR 712 Cr, and Financial Product Distribution (FPD) income increased 16% to INR 590 Cr. Full-year operational PBT was down 22%, largely due to higher employee costs. Q4 FY26 operational revenue climbed 20% YoY to INR 644 Cr, with Q4 PBT up 14%.

Management noted India's market resilience amidst FPI outflows. FPD AUM expanded significantly from INR 31,000 Cr to INR 52,000 Cr, with a focus on growing wealth RMs. The MTF book saw a sequential decline in Q4 due to market volatility. The company launched a INR 500 Cr credit opportunities fund and is well-capitalized with INR 3,000 Cr net worth. Despite expected short-term regulatory impacts on broking, management expressed confidence in its capital strength and ability to grow the profitable franchise by 20% in the coming years.