Average Daily Turnover (F&O + Cash)
₹3,22,886 crore
+3% QoQ
Q4 FY26 average daily turnover was ₹3,22,886 crore, virtually flat sequentially.
IIFLCAPITAL
Financial Services
2026-04-??
IIFL Capital Services Ltd — Q4 FY26
IIFL Capital Services reported flat full-year operational revenue of ₹2,439 crore for FY26, with retail equities revenue down 9% due to regulatory changes, while institutional/IB revenue grew 11% and financial distribution income rose 16% to ₹590 crore.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
IIFL Capital Services reported flat full-year operational revenue of ₹2,439 crore for FY26, with retail equities revenue down 9% due to regulatory changes, while institutional/IB revenue grew 11% and financial distribution income rose 16% to ₹590 crore. Q4 revenue grew 20% YoY to ₹644 crore, driven by retail (+22%) and institutional/IB (+67%). Employee costs rose sharply, impacting operational PBT which fell 22% for the year. The MTF book declined sequentially due to market volatility. Management highlighted resilience in domestic flows but flagged near-term headwinds from RBI margin regulations and geopolitical uncertainty. The company is well-capitalized with net worth of ₹3,000 crore and is exploring opportunities in alternative asset management. Key risk: sustained market volatility could further pressure broking volumes and MTF income.
Key Numbers
Financial Distribution AUM
₹52,000 crore
+68% YoY
AUM grew from ₹31,000 crore to ₹52,000 crore, driven by mutual funds, AIF, PMS, and fixed income.
Wealth Management AUM (High Net Worth Channel)
₹12,000 crore
new channel
The newly set up high net worth channel contributes roughly ₹12,000 crore of AUM.
MTF Book Interest Income
₹173 crore
flat YoY
MTF interest income was about ₹173 crore in FY26, similar to the prior year.
Management Guidance
Wealth RM headcount increase targeted
Management aims to increase the number of wealth relationship managers from the current ~300, though no specific number was provided.
Management guidance growthCapital allocation for growth
The company believes it has sufficient capital (net worth ~₹3,000 crore) to grow 20% in the next couple of years without needing additional capital.
Management guidance growthKey Risks
RBI margin regulation impact
New RBI regulations effective July 2026 will increase working capital and margin requirements, likely causing a short-term impact on broking volumes and costs.
medium · analyst_questionIncome tax notice of ₹56 crore
The company received an income tax demand of ~₹56 crore for a block period; management believes no material impact but appeals are pending.
medium · management_commentaryMarket volatility and FII outflows
Geopolitical tensions and rising oil prices have triggered FII outflows and market volatility, which could pressure broking revenues and MTF book.
high · management_commentaryNotable Quotes
The new definition of EBITDA seems to be earnings before interest, earnings before Ian and Trump's daily announcement.
We think that we are well capitalized and we have enough dry power to grow.
There will be a short-term impact for sure because of increased working capital requirements and margin requirements.
Frequently Asked Questions
What was IIFL Capital Services's revenue in Q4 FY26?
IIFL Capital Services reported revenue of ₹644 Cr in Q4 FY26, representing a 0% change compared to the same quarter last year.
What guidance did IIFL Capital Services management give for FY27?
Wealth RM headcount increase targeted: Management aims to increase the number of wealth relationship managers from the current ~300, though no specific number was provided. Capital allocation for growth: The company believes it has sufficient capital (net worth ~₹3,000 crore) to grow 20% in the next couple of years without needing additional capital.
What are the key risks for IIFL Capital Services in FY27?
Key risks include RBI margin regulation impact — New RBI regulations effective July 2026 will increase working capital and margin requirements, likely causing a short-term impact on broking volumes and costs.; Income tax notice of ₹56 crore — The company received an income tax demand of ~₹56 crore for a block period; management believes no material impact but appeals are pending.; Market volatility and FII outflows — Geopolitical tensions and rising oil prices have triggered FII outflows and market volatility, which could pressure broking revenues and MTF book..
Did IIFL Capital Services meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full IIFL Capital Services Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.