IFCI, established in 1948 and listed on BSE and NSE, is a Systematically Important Non Deposit Taking Non Banking Finance Company (NBFC-ND-SI) in the public sector. With six subsidiaries and one associate, IFCI supports diversified industrial growth by financing projects across various sectors, including airports, roads, telecom, power, and real estate. Over its 75-year history, IFCI has played a pivotal role in setting up significant projects like Adani Mundra Ports and GMR Goa International Airport. The company also provides Government and Corporate Advisory services, acting as a Project Management Agency for Production Linked Incentive schemes and monitoring various capital subsidy schemes under the “Atmanirbhar Bharat” initiative. Additionally, IFCI has been the nodal agency for monitoring Sugar Development Fund loans since 1984.
IFCI’s contributions extend to promoting entrepreneurship through a Rs. 200 crore Venture Capital Fund for Scheduled Castes, with IFCI Venture Capital Funds Ltd. as the fund manager. The company has committed Rs. 50 crore as the lead investor and sponsor of this fund, operational since FY 2014-15, to support SC entrepreneurs. Further, the Ministry of Social Justice and Empowerment designated IFCI in March 2015 as the nodal agency for the “Credit Enhancement Guarantee Scheme for Scheduled Castes,” which provides credit enhancement guarantees to banks offering financial assistance to SC entrepreneurs. Beyond financing, IFCI has been instrumental in establishing market intermediaries, entrepreneurship development organizations, consultancy firms, and educational and skill development institutes across India, reinforcing its commitment to industrial and entrepreneurial development.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 70.32% | 70.32% | 70.32% | 70.32% | 71.72% |
| FIIs + | 1.51% | 1.87% | 2.08% | 2.29% | 2.40% |
| DIIs + | 2.00% | 2.01% | 2.02% | 2.03% | 1.93% |
| Government + | 4.13% | 4.03% | 4.02% | 3.99% | 3.34% |
| Public + | 22.03% | 21.76% | 21.57% | 21.37% | 20.61% |
| No. of Shareholders | 5,05,969 | 5,41,937 | 5,85,670 | 8,26,079 | 8,76,318 |
The shareholding patterns of IFCI from June 2023 to June 2024 reveal a notable evolution in the composition of its investor base. The promoters have maintained a stable stake of 70.32% throughout the period until June 2024, with a slight increase to 71.72% by then. Foreign Institutional Investors (FIIs) have shown a gradual rise in their holdings, starting at 1.51% in June 2023 and increasing to 2.40% by June 2024, indicating growing confidence among international investors. Domestic Institutional Investors (DIIs) have had a minimal fluctuation, with their stake slightly decreasing from 2.00% in June 2023 to 1.93% by June 2024.
The Government’s shareholding has seen a decline from 4.13% in June 2023 to 3.34% in June 2024, reflecting a reduction in its direct involvement. Public shareholding has also experienced a downward trend, decreasing from 22.03% in June 2023 to 20.61% by June 2024. Additionally, the number of shareholders has significantly increased, rising from 5,05,969 in June 2023 to 8,76,318 by June 2024, showcasing a growing retail investor interest and participation in IFCI’s stock.
Below are the trading platforms that you can use to purchase IFCI Ltd shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| August 2024 | 89.80 | 78.09 |
| September 2024 | 93.40 | 81.21 |
| October 2024 | 91.56 | 79.62 |
| November 2024 | 95.23 | 82.81 |
| December 2024 | 96.18 | 83.63 |
For 2024, IFCI Ltd’s share price is expected to reach a maximum of ₹89.80 and a minimum of ₹78.09 in August. By December 2024, the share price is projected to peak at ₹96.18 and dip to ₹83.63.
| When | Maximum Price | Minimum Price |
| January 2025 | 97.14 | 74.72 |
| February 2025 | 98.12 | 75.48 |
| March 2025 | 100.18 | 77.06 |
| April 2025 | 99.19 | 76.30 |
| May 2025 | 96.30 | 74.08 |
| June 2025 | 100.64 | 77.41 |
| July 2025 | 98.66 | 75.89 |
| August 2025 | 101.71 | 78.24 |
| September 2025 | 102.93 | 79.18 |
| October 2025 | 105.61 | 81.24 |
| November 2025 | 108.25 | 83.27 |
| December 2025 | 113.12 | 87.02 |
For 2025, IFCI Ltd is expected to reach a maximum price of ₹97.14 and a minimum of ₹74.72 in January. By December 2025, the share price is anticipated to peak at ₹113.12 and reach a minimum of ₹87.02.
| When | Maximum Price | Minimum Price |
| January 2026 | 116.52 | 89.63 |
| February 2026 | 113.60 | 87.39 |
| March 2026 | 115.88 | 89.13 |
| April 2026 | 118.24 | 90.95 |
| May 2026 | 117.07 | 90.05 |
| June 2026 | 120.00 | 92.30 |
| July 2026 | 117.64 | 90.49 |
| August 2026 | 121.28 | 93.29 |
| September 2026 | 123.71 | 95.16 |
| October 2026 | 126.92 | 97.63 |
| November 2026 | 130.10 | 100.07 |
| December 2026 | 133.35 | 102.58 |
| When | Maximum Price | Minimum Price |
| January 2027 | 134.68 | 103.60 |
| February 2027 | 138.14 | 106.26 |
| March 2027 | 143.52 | 110.40 |
| April 2027 | 140.71 | 108.24 |
| May 2027 | 136.61 | 105.09 |
| June 2027 | 142.76 | 109.81 |
| July 2027 | 139.96 | 107.66 |
| August 2027 | 144.29 | 110.99 |
| September 2027 | 149.34 | 114.88 |
| October 2027 | 153.22 | 117.86 |
| November 2027 | 157.05 | 120.81 |
| December 2027 | 160.98 | 123.83 |
| When | Maximum Price | Minimum Price |
| January 2028 | 164.20 | 126.31 |
| February 2028 | 168.41 | 129.54 |
| March 2028 | 174.98 | 134.60 |
| April 2028 | 171.54 | 131.96 |
| May 2028 | 166.55 | 128.11 |
| June 2028 | 174.04 | 133.88 |
| July 2028 | 170.63 | 131.25 |
| August 2028 | 175.91 | 135.31 |
| September 2028 | 182.06 | 140.05 |
| October 2028 | 186.80 | 143.69 |
| November 2028 | 191.47 | 147.28 |
| December 2028 | 196.25 | 150.96 |
| When | Maximum Price | Minimum Price |
| January 2029 | 200.18 | 153.98 |
| February 2029 | 205.31 | 157.93 |
| March 2029 | 213.32 | 164.09 |
| April 2029 | 209.14 | 160.87 |
| May 2029 | 203.05 | 156.19 |
| June 2029 | 212.18 | 163.22 |
| July 2029 | 208.02 | 160.02 |
| August 2029 | 214.46 | 164.97 |
| September 2029 | 221.96 | 170.74 |
| October 2029 | 227.73 | 175.18 |
| November 2029 | 233.43 | 179.56 |
| December 2029 | 239.26 | 184.05 |
| When | Maximum Price | Minimum Price |
| January 2030 | 244.05 | 187.73 |
| February 2030 | 250.30 | 192.54 |
| March 2030 | 260.07 | 200.05 |
| April 2030 | 254.97 | 196.13 |
| May 2030 | 247.54 | 190.42 |
| June 2030 | 258.68 | 198.98 |
| July 2030 | 253.61 | 195.08 |
| August 2030 | 261.45 | 201.12 |
| September 2030 | 270.60 | 208.16 |
| October 2030 | 277.64 | 213.57 |
| November 2030 | 284.58 | 218.91 |
| December 2030 | 291.69 | 224.38 |
In 2030, IFCI Ltd is anticipated to see its share price rise to a maximum of ₹244.05 and dip to a minimum of ₹187.73 in January. By December, the price is expected to reach a high of ₹291.69 and a low of ₹224.38.
Financial Condition of IFCI Ltd: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 2,880 | 2,082 | 1,556 | 1,490 | 1,987 |
| Expenses + | 1,463 | 2,961 | 2,108 | 776 | 715 |
| Operating Profit | 1,417 | -879 | -553 | 714 | 1,272 |
| OPM % | 49% | -42% | -36% | 48% | 64% |
| Other Income + | 21 | 14 | 39 | 28 | 131 |
| Interest | 1,451 | 1,147 | 943 | 642 | 571 |
| Depreciation | 81 | 72 | 66 | 74 | 81 |
| Profit before tax | -94 | -2,085 | -1,523 | 26 | 751 |
| Tax % | 137% | -8% | 16% | 559% | 68% |
| Net Profit + | -223 | -1,912 | -1,761 | -120 | 241 |
| EPS in Rs | -1.36 | -10.24 | -8.71 | -0.95 | 0.47 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Over the past five years, IFCI’s financial performance has shown significant fluctuations, reflecting both challenges and improvements. Sales figures decreased initially from ₹2,880 crore in March 2020 to a low of ₹1,490 crore in March 2023, before rebounding to ₹1,987 crore in March 2024. Correspondingly, expenses exhibited volatility, peaking at ₹2,961 crore in March 2021 and then sharply decreasing to ₹715 crore in March 2024.
Operating profit experienced considerable variability, with a high of ₹1,417 crore in March 2020, dropping to negative figures in 2021 and 2022, and recovering to ₹1,272 crore in March 2024. This volatility is mirrored in the Operating Profit Margin (OPM), which reached a high of 64% in March 2024 after a negative low of -42% in March 2021.
Other income remained relatively modest but showed an increase to ₹131 crore in March 2024. Interest expenses consistently decreased from ₹1,451 crore in March 2020 to ₹571 crore in March 2024, indicating a reduction in debt servicing costs. Depreciation remained relatively stable around ₹70-81 crore annually.
The company’s profit before tax (PBT) also reflected a turnaround, improving from a loss of ₹-94 crore in March 2020 to a profit of ₹751 crore in March 2024. Net profit followed a similar trend, moving from a loss of ₹-223 crore in March 2020 to a profit of ₹241 crore in March 2024, with corresponding changes in the Earnings Per Share (EPS) from a negative ₹-1.36 to a positive ₹0.47. Despite these improvements, the dividend payout remained at 0% throughout the period, likely reflecting a focus on reinvestment and debt reduction. Overall, IFCI has shown resilience and a path to recovery, highlighted by its return to profitability and improved operating margins.
FAQS
As of July 26th, 2024, the current share price of IFCI Ltd is ₹83.9.
According to market analysts and financial experts, the share price target for IFCI Ltd for 2025 is estimated to be between ₹74.08 to ₹113.12.
As per our analysis, IFCI Ltd share price target for 2030 would be somewhere between ₹187.73 and ₹291.69.
IFCI Ltd has the potential to reach a share price target of INR200 sometime in 2029.
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Conclusion
In summary, IFCI Ltd has shown impressive resilience and recovery in recent years, with a positive outlook for the future. The company’s focus on financing major infrastructure projects, providing government and corporate advisory services, and fostering inclusive entrepreneurship has reinforced its role as a key player in the financial sector. The growing confidence from international investors, stable promoter ownership, and increasing retail investor interest suggest a favorable view of IFCI’s stock. Financial performance has markedly improved, with notable rebounds in sales and operating profits and healthy operating margins. The projected share prices for 2025 and 2030 further underscore the company’s growth potential, signaling a strong upward trajectory. Overall, IFCI Ltd is well-positioned for continued growth and value creation, making it a compelling investment opportunity for the future.
Please note: The article “IFCI Ltd price target 2024 to 2030′ is not a recommendation. Please use it for educational purposes only and consult a financial advisor before investing in IFCI Ltd.
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