Indian Railway Finance Corporation Limited
Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets. IRFC is a Schedule ‘A’ Public Sector Enterprise ...
Key Metrics
EPS
4.91
Current ratio
3.27
Debt/Equity
8.86
Debt/EBITDA
67.88
Interest coverage ratio
-
Operating Cashflow to total debt
0.02
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Majority GoI ownership marked with demonstrated government support and strong integration with the parent
Strategic role in providing financial assistance to meet planned outlay of IR
Strong asset quality considering entire exposure to MoR / MoR-owned entities
Healthy capitalisation profile
Diversified borrowings profile
Liquidity: Adequate
Cons
Moderate profitability metrics
High concentration risk
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About Indian Railway Finance Corporation Limited bond.
This comprehensive profile covers key factual information about Indian Railway Finance Corporation Limited. Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets. IRFC is a Schedule ‘A’ Public Sector Enterprise under the administrative control of the Ministry of Railways, Govt. of India. It is also registered as Systemically Important Non–Deposit taking Non Banking Financial Company (NBFC – ND-SI) and Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI). In more than 30 years of existence, IRFC has played a significant role in supporting the expansion of the Indian Railways and related entities by financing a significant proportion of its annual plan outlay. EPS in Mar-2024 was 4.91. Current ratio in Mar-2024 was 3.27. Debt/Equity in Mar-2024 was 8.86. Debt/EBITDA in Mar-2024 was 67.88. Interest coverage ratio in Mar-2024 was . Operating Cashflow to total debt in Mar-2024 was 0.02. Total revenue for Mar-2025 (E) was ₹27495.97. Net income for Mar-2025 (E) stood at ₹7189.15. Total assets as of Mar-2024 were ₹485082.42. Total liabilities as of Mar-2024 were ₹435903.85. Operating cash flow for Mar-2024 was ₹7914.10. The company’s borrowing relationships include Axis Bank Limited. (₹N/A Cr), Bank of Baroda (₹N/A Cr), Bank of India (₹N/A Cr), Canara Bank (₹N/A Cr), Central Bank of India (₹N/A Cr), Deutsche Bank (₹N/A Cr), External Commercial Borrowings (₹N/A Cr), HDFC Bank Limited. (₹N/A Cr), ICICI Bank Limited. (₹N/A Cr), India Infrastructure Finance Company Limited. (₹N/A Cr), Indian Overseas Bank (₹N/A Cr), Jammu and Kashmir Bank Limited (₹N/A Cr), National Bank for Financing Infrastructure and Dev (₹N/A Cr), Proposed (₹N/A Cr), Punjab & Sind Bank (₹N/A Cr), Punjab National Bank (₹N/A Cr), South Indian Bank Limited. (₹N/A Cr), State Bank of India (₹N/A Cr), State Bank of India,Bahrain (₹N/A Cr), State Bank of India,Hong Kong (₹N/A Cr), UCO Bank (₹N/A Cr), Union Bank of India (₹N/A Cr), Axis Bank Limited. (₹N/A Cr), HDFC Bank Limited. (₹N/A Cr), ICICI Bank Limited. (₹N/A Cr), IDBI Bank Limited. (₹N/A Cr), IDFC First Bank Limited. (₹N/A Cr), Indian Bank (₹N/A Cr), Induslnd Bank Limited. (₹N/A Cr), Karnataka Bank Limited. (₹N/A Cr), Proposed (₹N/A Cr), RBL Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), Union Bank of India (₹N/A Cr), Yes Bank Limited. (₹N/A Cr), (₹N/A Cr). Peers and comparison entities consist of Indian Railway Finance Corp Limited, Power Finance Corporation Limited, REC Limited, Rail Vikas Nigam Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Majority GoI ownership marked with demonstrated government support and strong integration with the parent; Strategic role in providing financial assistance to meet planned outlay of IR; Strong asset quality considering entire exposure to MoR / MoR-owned entities; Healthy capitalisation profile; Diversified borrowings profile; Liquidity: Adequate. Key risks include: Moderate profitability metrics; High concentration risk. Leadership team details include Abhishek Kumar (Government Nominee Director), Baldeo Purushartha (Government Nominee Director), Pranav Kumar Mallick (Chief Vigilance Officer), Sheela Pandit (Non Official Independent Director), Shelly Verma (Director - Finance), Sunil Kumar Goel (Chief Financial Officer), Usha Venugopal (Chairman & Managing Director), Vallabhbhai Maneklal Patel (Non Official Independent Director), Vijay Babulal Shirode (Company Secretary & Compliance Officer). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.