Indian Railway Finance Corp Ltd

The key equity indices traded with moderate losses in mid-morning trade as the rupee weakened against US dollar. Investors' focus now shifts to ongoing IPO activity and the RBI's monetary policy meeting scheduled later this week. The Nifty traded below the 25,950 mark. IT shares rebounded after declining in the past trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex declined 343.36 points or 0.40% to 84,8794.91. The Nifty 50 index fell 130.80 points or 0.50% to 25,901.55. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.16% and the S&P BSE Small-Cap index fell 0.79%. The market breadth was weak. On the BSE, 1,182 shares rose and 2,583 shares fell. A total of 213 shares were unchanged. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1800 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark. Economy: The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.9 in October to 59.8 in November, indicating a historically strong expansion in output and a faster pace of growth than the previous month. Meanwhile, the HSBC India Composite PMI Output Index stood at 59.7 in November, pointing to robust growth. However, the decline from October's 60.4 reading signalled the slowest expansion since May IPO Update: Meesho received bids for 10,06,89,210 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (3 December 2025). The issue was subscribed 0.36 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share. Aequs received bids for 3,63,87,480 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (3 December 2025). The issue was subscribed 0.87 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share. Vidya Wires received bids for 3,50,48,448 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (3 December 2025). The issue was subscribed 0.81 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share. Buzzing Index: The Nifty IT index advanced 0.85% to 37,859.25. The index fell 0.02% in the past trading session. Wipro (up 2.36%), Tata Consultancy Services (up 1.73%), Infosys (up 0.95%), Mphasis (up 0.75%) and Tech Mahindra (up 0.72%), LTIMindtree (up 0.24%), HCL Technologies (up 0.02%) advanced. Stock in Spotlight: Indian Railway Finance Corporation (IRFC) declined 1.29%. The company announced that it has signed a loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise an External Commercial Borrowing (ECB) loan valued at the Japanese Yen (JPY) equivalent of $300 million. Global Market: Asia-Pacific markets were mostly higher Wednesday, after Wall Street saw a tech-fueled recovery and a cryptocurrency rally. South Korea's revised third-quarter GDP numbers indicated that country's economy grew at 1.8% year on year, compared to 1.7% in the initial estimate, data from the central bank showed Wednesday. Australia's GDP expanded 2.1% year on year, marking its strongest expansion since the third quarter of 2023, but fell short of the widely reported 2.2% expected growth rate. Overnight in the U.S., the Dow Jones Industrial Average gained 0.39%, while the S&P 500 climbed 0.25% and the Nasdaq Composite advanced 0.59%. Powered by Capital Market - Live

According to the company, the five-year ECB facility is benchmarked to the Tokyo Overnight Average Rate (TONAR). Although the loan amount is yet to be drawn, the facility agreement, covering an aggregated amount equivalent to USD 300 million in JPY, was formally executed on 2 December 2025. IRFC stated that this development marks its first entry into the ECB market under the IRFC 2.0 framework, following the company's strategic diversification into infrastructure projects with backward and forward linkages. The company added that proceeds from the loan will be used to finance projects connected to the railway sector or other approved initiatives, in line with the External Commercial Borrowing guidelines. Manoj Kumar Dubey, Chairman and Managing Director & CEO, IRFC, said, At IRFC, our priority is to mobilise resources from various available avenues at the most competitive rates, thereby supporting projects that are closely integrated with Indian Railways and delivering enduring benefits. By tapping the external commercial borrowing market after more than 3 years, we are not only intending to reduce our weighted average borrowing cost but also reviving our presence in the international market, which shall play a crucial role in further strengthening of the railway infrastructure that is vital for nation building. Indian Railway Finance Corp.'s principal business is to borrow funds from the financial markets to finance. The Government of India held an 86.36% stake in the company as of 30 September 2025. Indian Railway Finance Corporation (IRFC)'s standalone net profit jumped 10.19% to Rs 1,776.98 crore in Q2 FY26 as against Rs 1,612.65 crore posted in Q2 FY25. However, total revenue from operations declined 7.64% year-on-year (YoY) to Rs 6,371.89 crore in the quarter ended 30 September 2025. The counter shed 0.52% to Rs 115 on the BSE. Powered by Capital Market - Live

Indian Railway Finance Corp. announced that the Board of Directors of the Company at its meeting held on 15 October 2025, inter alia, have recommended the interim dividend of Rs 1.05 per equity Share (i.e. 10.5%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Indian Railway Finance Corporation rose 10.19% to Rs 1776.98 crore in the quarter ended September 2025 as against Rs 1612.65 crore during the previous quarter ended September 2024. Sales declined 7.65% to Rs 6371.89 crore in the quarter ended September 2025 as against Rs 6899.66 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales6371.896899.66 -8 OPM %99.2399.45 - PBDT1778.331613.74 10 PBT1776.981612.65 10 NP1776.981612.65 10 Powered by Capital Market - Live

However, total revenue from operations declined 7.64% year-on-year (YoY) to Rs 6,371.89 crore in the quarter ended 30 September 2025. Profit before tax stood at Rs 1,776.98 crore in Q2 FY26, up 10.19% from Rs 1,612.65 crore recorded in the same period a year ago. On a half year basis, the company's standalone net profit jumped 10.44% to Rs 3,522.67 crore despite 2.62% to Rs 13,287.27 crore in H1 FY26 over H1 FY25. The company's strong performance highlights the success of its strategic diversification efforts, with newly developed business segments significantly contributing to improved margins and overall profitability. Assets Under Management (AUM) have shown a continued upward trajectory, reaching Rs 4.62 lakh crore. Notably, this growth was achieved despite the absence of new mandates from Indian Railways and no existing project pipeline in recent years'underscoring the effectiveness of proactive business development initiatives executed during the first half of the year. The corporation also reported its highest-ever net worth of Rs 56,193.85 crore and an annualised earnings per share (EPS) of Rs 5.39 per share marking key financial milestones and reinforcing the strength of its operational strategy. During the first half of the year, IRFC sanctioned and executed new business agreements totaling Rs 3,45,382 crore across a range of railway-linked sectors, including power generation (with a strong emphasis on renewable energy), energy transmission, coal mining, and industrial infrastructure. This marks a ninefold increase compared to Rs 5,250 crore executed in the previous financial year'highlighting a significant scale-up in business development and diversification. These transactions were concluded at competitive yet value-accretive spreads, resulting in a notable improvement in Net Interest Margins (NIMs), which now stand at 1.55% (annualized). This positive margin trend is already reflected in double-digit growth in Profit After Tax (PAT) and is expected to further strengthen in the coming quarters as the diversified asset portfolio continues to mature and yield returns. The Board of Directors has declared the highest-ever interim dividend of Rs 1.05 per share, reaffirming the company's commitment to delivering sustained value to its shareholders and reflecting strong financial performance and confidence in future growth. The company stated that with strategic diversification gaining traction, IRFC is poised to expand its asset base in the second half of FY26. The newly added business lines are expected to drive sustained growth, improve Net interest margins (NIMS), and enhance profitability. As these segments mature, they are likely to strengthen IRFC's position as a leading infrastructure financier in the country. Indian Railway Finance Corp.'s principal business is to borrow funds from the financial markets to finance. The Government of India held an 86.36% stake in the company as of 30 June 2025. The scrip rose 0.08% to Rs 124.60 on the BSE. Powered by Capital Market - Live

Indian Railway Finance Corp. will hold a meeting of the Board of Directors of the Company on 15 October 2025.Powered by Capital Market - Live

Indian Railway Finance Corporation (IRFC) has joined hands with Talcher Fertilizers (TFL) as part of the Government of India's fertilizer revival programme, by extending consortium funding support for India's first coal gasification-based urea production facility. The loan agreement was signed today at TFL's office, whrein IRFC is extending loan assistance of Rs 4,000 crore towards the project as part of the sanctioned debt package, in consortium with other lenders, with the total debt component amounting to Rs 12,250 crore. TFL, a joint venture of Coal India, GAIL, Rashtriya Chemicals & Fertilizers (RCF) and Fertilizer Corporation of India  (FCIL), is setting up a state-of-the-art facility to utilize indigenous coal for producing 1.27 million metric tonnes of neem-coated urea annually. This strategic project will not only reduce dependence on imported natural gas but also enhance domestic self-sufficiency in fertilizer production in line with the Government's vision of Atmanirbhar Bharat. The project forms a vital part of the fertilizer sector revival plan, wherein five closed urea plants were identified by the Government for revival and the Talcher unit will be the first to deploy coal gasification technology for urea production. The project has a strong railway linkage, with a dedicated siding being developed under the Indian Railways' Gati Shakti Multi-Modal Cargo Terminal (GCT) policy. The project enjoys a strong railway linkage with a dedicated railway siding is being developed as part of the project's logistics infrastructure. ensuring seamless connectivity for both inbound movement of coal, pet coke, and limestone, and outward dispatch of urea. The facility is expected to handle nearly five rakes per day. The siding is being developed under the Indian Railways' Gati Shakti Multi-Modal Cargo Terminal (GCT) policy, highlighting the strong forward and backward linkages of this project with the railway sector.Powered by Capital Market - Live

Indian Railway Finance Corporation (IRFC) has sanctioned a Rupee Term Loan (RTL) of Rs 12,640 crore to Chhattisgarh State Power Generation Company (CSPGCL), a wholly owned entity of the Government of Chhattisgarh, for financing its upcoming 2x660 MW Super Critical Thermal Power Project at HTPS, Korba West. Powered by Capital Market - Live

Indian Railway Finance Corporation (IRFC) has executed a refinancing facility of up to Rs 1,125 crore for Bhartiya Rail Bijlee Company (BRBCL), a joint venture of NTPC (74%) and Ministry of Railways (26%). The refinancing support extended by IRFC will help reduce BRBCL's financing costs, thereby strengthening its financial position while also lowering the cost of electricity supplied to Indian Railways. This creates a win-win outcome - improving BRBCL's bottom line and directly benefiting the Ministry of Railways both as an equity holder and as the ultimate customer. BRBCL, incorporated in 2007, operates the 1,000 MW Nabinagar Thermal Power Project (4x250 MW) in Bihar. The plant supplies power under a long-term PPA, with 90% of its capacity dedicated to Indian Railways and 10% to Bihar State Electricity Board, under cost-plus tariff regulated by CERC.Powered by Capital Market - Live

The Surat MMTH, being developed by SITCO'a joint venture between the Ministry of Railways and the Government of Gujarat'is designed to integrate multiple modes of transport and improve passenger connectivity in the city. IRFC's funding will support construction components, strengthen the project's financial viability, and ensure long-term sustainability. Indian Railway Finance Corp.'s principal business is to borrow funds from the financial markets to finance. The Government of India held an 86.36% stake in the company as of 30 June 2025. The company's standalone net profit rose by 10.70% to Rs 1,745.69 crore in Q1 FY26 as against Rs 1,576.83 crore posted in Q1 FY25. Total revenue from operations increased by 2.21% year-on-year (YoY) to Rs 6,915.38 crore in the quarter ended 30 June 2025. The scrip rose 0.16% to Rs 127 on the BSE.Powered by Capital Market - Live