Income tax special audit outcome
A special audit under Section 142(2A) for a 6-year block period could result in tax demands, though management considers it procedural.
IIFL / bear-case history
Track the concerns that keep returning.
IIFL Finance · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Capital adequacy pressure from gold loan growth
Rapid gold loan growth may strain standalone capital (Tier 1 ~12.8%), requiring co-lending or equity raise if not managed.
Elevated credit costs from legacy unsecured portfolio
Provisions for discontinued unsecured MSME and personal loans remain elevated (~₹300 Cr/quarter), though expected to decline.
Housing finance turnaround execution risk
New strategy focusing on affordable/emerging segments may take 2-3 quarters to improve yields and growth.