IFCI Ltd share price today (on 30 September 2023).

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BSE: 500106 | NSE: IFCI | ISIN: INE039A01010 Market Cap: [Rs.Cr.] 1,988 | Face Value: [Rs.] 10 Industry: Finance - Term-Lending Institutions

The government established The Industrial Finance Corporation of India (IFCI) on July 1, 1948, as the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector.
IFCI Ltd is engaged in project financing, infrastructure development, debt and equity underwriting and syndication, venture capital, stock broking and merchant banking, factoring, asset reconstruction, tourism finance, micro finance, corporate and infrastructure advisory, technical consultancy and management education. Financial products include Short-term Loans, Long-term Loans, Lease Financing and structured products: acquisition finance, pre-initial public offering (IPO) investment, IPO finance and promoter funding. The company is a Nodal Agency for monitoring of Sugar Development Fund (SDF) loans for projects related to modernization and expansion, co-generation of power and production of alcohol/ethanol in the private sector. Their corporate advisory services include corporate advisory and infrastructure services, infrastructure advisory, monitoring agency for public issues, restructuring advisory services and bid process management. IFCI was established in the year 1948 by an Act of Parliament to provide institutional finance for industrial development in the country.
The company was subsequently corporatized in July 1993 after passing of the Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993 by the parliament of India. The company was registered as a non-banking financial company with RBI during the year 1998, but was exempted from most of the regulatory guidelines for non-banking financial companies, being regulated as a financial institution. The name of the company was changed from The Industrial Finance Corporation of India Ltd to IFCI Ltd with effect from October 27, 1999. During the year 1999-2000, the IFCI Investors Services Ltd and IFCI Custodial Services Ltd, wholly owned subsidiaries of the company were amalgamated with IFCI Financial Services Ltd (another wholly owned subsidiary company). In the year 2000, IFCI and the Dubai-based Mashreq Bank Group signed an agreement for the first trance of a million syndicated loans. In the year 2003, the company took over Arihant Industries Export Oriented Unit (EOU) under the securitization Act. In the year 2004, the company merged with Punjab National Bank (PNB) would help each other. During the period 2005-06, the company was conferred an award for 'Corporate Excellence' instituted by the Amity Business School and presented every year to select corporate for outstanding performance in various areas.
From August 2007 onwards, the company is being regulated as a non-banking financial company. During the year 2007-08, the company promoted IFCI Infrastructure Development Ltd (IIDL) as a wholly owned subsidiary. During the year 2008-09, the company forayed into factoring business by acquiring an additional stake in Foremost Factors Ltd. In April, 2008, the company rechristened Foremost Factors Ltd as 'IFCI Factors Ltd'. The company subscribed Rs 25 lakh to the rights issue of MPCON, one of the Technical Consultancy Organizations promoted by IFCI in the year 1979, with a view to expanding our business outlook and reaping business opportunities in the highly lucrative consulting sector. With this infusion of capital, MPCON is now a subsidiary of the company. During the year 2010-11, the company accelerated their operations and re-established their presence in the financial market by enlarging and retaining high value customer base.
According to the Individual - Audited financial statement for the Year of 2012, total net operating revenues increased with 20.22%, from INR 2,486.37 tens of millions to INR 2,989.2 tens of millions. Operating result increased from INR 1,698.96 tens of millions to INR 2,840.49 tens of millions which means 67.19% change. The results of the period reached INR 663.62 tens of millions at the end of the period against INR -26.87 tens of millions last year. Return on equity (Net income/Total equity) went from -0.54% to 14.50%, the Return On Asset (Net income / Total Asset) went from -0.11% to 2.86% and the Net Profit Margin (Net Income/Net Sales) went from -1.08% to 22.20% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 507.38% compared to 485.03% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 9.52 to 1.10 when compared to the previous year.

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