Indian Railway Finance Corporation Limited Earnings Summary — Q1 FY2027

• IRFC reported a full-year Profit After Tax of ₹7,009.17 crore for FY 2025-26, an increase of 7.80% YoY.
• The corporation is aggressively diversifying its portfolio, executing agreements worth ₹72,949 crore and disbursements of ₹35,067 crore in non-MoR business.
• Significant entry into power generation, renewable energy, and transmission sectors, with 75% of new business acquired through competitive bidding.
• Capital Adequacy Ratio remains extremely healthy at 110.91%, far exceeding regulatory requirements.
• Asset quality remains pristine with zero NPAs reported, largely due to the 92.56% AUM exposure to the Ministry of Railways.
• Executed twelve financing agreements beyond conventional railway financing to build a diversified infrastructure lending pipeline.
• Net Interest Margin (NIM) for the period stood at 1.50% on an annualized basis.
• The company maintained its 'AAA' domestic and sovereign-equivalent international credit ratings.

Management is shifting focus toward becoming a diversified infrastructure financier, supporting both backward and forward linkages to the Railway ecosystem, including metros, dedicated freight lines, and renewable energy.

Improving

The transition from a pure-play railway financier to a diversified infrastructure lender is scaling rapidly, evidenced by the high volume of non-MoR agreements.

IRFC expects to see continued growth in its loan book through participation in various state JVs and diversification into non-conventional power and warehousing linked to the railway network.