Concern
Less profitable than peers
ROE of 3.8% is below the private sector bank median of 11.4%.
Importance 55 / 95 · profitability
IDFC FIRST BANK LIMITED · Research view
IDFC FIRST BANK LIMITED
NSE: IDFCFIRSTBBSE: 539437ISIN INE092T01019Face value ₹10consolidated
₹80.32
−1.39% · 2026-10-01 · 52-wk ₹59–₹88
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
Watch
Credit cost running high
Provisions ran at 2.1% of advances this year — above a through-cycle norm of roughly 0.8–1.2%.
Importance 38 / 95 · financial health
Concern
Net interest margin compressing
Net interest margin fell from 6.0% to 5.7% year on year.
Importance 38 / 95 · profitability
Section 03 · The company
Who is this company?
Classified by the exchange under Financial Services › Financial Services › Banks › Private Sector Bank.
- Market cap
- ₹69,089 cr
- FY2026 total income
- ₹48,422 cr
- FY2026 net profit
- ₹1,611 cr
- Net worth
- ₹47,404 cr
- Advances
- ₹2,80,391 cr
- EPS (basic)
- ₹1.89
- Listed
- NSE · BSE
- Reporting
- Banking (Sch. III)Apr–Mar
Peer set used on this page: 8 private sector bank.
Section 04 · Business performance
Is the business growing?
Total incomeNet profit
Advances (loans)Deposits
Strength
Advances grew 20.3% year on year (FY2025 → FY2026).
Rule BANK_LOAN_GROWTH_STRONG
- Advances growth per year
- +18.3%over 7 years
- Advances growth
- +20.3%vs last year
- Deposits growth
- +16.8%vs last year
- Net profit growth
- +8.1%vs last year
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 net profit was ₹1,148 cr, up 153.1% from ₹453 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Strength
Q1 FY27 net profit grew 153.1% while total income grew 12.6% vs the same quarter last year — a gap of 140.6 percentage points.
Rule QTR_PROFIT_VS_REVENUE_GROWTH
Strength
Q1 FY27 net margin was 8.6%, up 4.77 percentage points from 3.8% a year earlier.
Rule QTR_MARGIN_CHANGED_YOY
A. Quarterly results
Total incomeNet profit
| Quarter | Total income | YoY | Net profit | YoY |
|---|---|---|---|---|
| Q2 FY25 | 10,684 | — | 212 | — |
| Q3 FY25 | 11,123 | +18.4% | 340 | −53.5% |
| Q4 FY25 | 11,308 | +14.7% | 296 | −59.6% |
| Q1 FY26 | 11,869 | +14.5% | 453 | −29.4% |
| Q2 FY26 | 11,828 | +10.7% | 348 | +64.1% |
| Q3 FY26 | 12,542 | +12.8% | 479 | +40.7% |
| Q4 FY26 | 12,183 | +7.7% | 331 | +11.9% |
| Q1 FY27 | 13,361 | +12.6% | 1,148 | +153.1% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Total income
- ₹49,914 crTTM
- PBT
- ₹2,717 crTTM
- Net profit
- ₹2,305 crTTM
C. Corporate actions
7 Aug 2026DividendFinal Dividend - Rs. - 0.2500 — ₹0.25/share
11 Jul 2025DividendDividend - Rs. - 0.2500 — ₹0.25/share
23 Jul 2018DividendFinal Dividend - Rs. - 0.7500 — ₹0.75/share
20 Jul 2017DividendDividend - Rs. - 0.7500 — ₹0.75/share
19 Jul 2016DividendDividend - Rs. - 0.2500 — ₹0.25/share
Section 06 · Business performance
Is it becoming more profitable?
Net interest margin (left)Return on equity (right)
Concern
ROE of 3.8% is below the private sector bank median of 11.4%.
Rule ROE_BELOW_PEER_MEDIAN
- NIM FY2026
- 5.71%
- Cost-to-income
- 75.3%
- ROE FY2026
- 3.8%
- ROA FY2026
- 0.43%
Net interest margin fell from 6.0% to 5.7% year on year.
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Watch
Provisions ran at 2.1% of advances this year — above a through-cycle norm of roughly 0.8–1.2%.
Rule BANK_CREDIT_COST_ELEVATED
Net worth (capital + reserves)
- Gross NPA FY2026
- —
- Net NPA
- —
- Credit cost
- 2.09%of advances
- Credit / deposit
- 95%
Section 08 · Relative position
How does it compare with peers?
Ranked against 8 private sector bank (FY2026, consolidated). No peer-relative rule fired for this company.
Return on equity
IDFCFIRSTB · 7th of 8 · set median 11.4%
P/E ratio
IDFCFIRSTB · 7th of 8 · set median 16.9×
- P / E
- 30.0×TTM to Jun 26
- P / B
- 1.5×latest book
- P / S
- 1.4×TTM sales
- Earnings yield
- 3.3%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 42.9× · P/S 1.4× · ROE 3.8%. TTM and full-year profit differ by more than 15% — a one-off in a recent quarter is moving the trailing figure; weigh it against the full year.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- +16.4%
- 3-year return
- −15.9%
- 5-year return
- +69.6%
- From 52-wk high
- −8.6%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹85
- vs 200-day avg
- Above₹78
- RSI (14)
- 38.5neutral
- MACD histogram
- -0.7
- From 52-wk high
- −8.6%
- From 52-wk low
- +36.5%
- 30-day volatility
- 27.8%ann.
- 6-month return
- +36.5%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- ConcernLess profitable than peersROE of 3.8% is below the private sector bank median of 11.4%.ROE_BELOW_PEER_MEDIAN · conviction 55
- WatchCredit cost running highProvisions ran at 2.1% of advances this year — above a through-cycle norm of roughly 0.8–1.2%.BANK_CREDIT_COST_ELEVATED · conviction 38
- ConcernNet interest margin compressingNet interest margin fell from 6.0% to 5.7% year on year.BANK_NIM_COMPRESSED_YOY · conviction 38
- Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Total income | 13,143 | 17,963 | 18,222 | 20,345 | 27,195 | 36,257 | 43,478 | 48,422 |
| Interest earned | 12,204 | 16,240 | 15,968 | 17,173 | 22,728 | 30,325 | 36,502 | 40,549 |
| Interest expended | 8,743 | 10,228 | 8,585 | 7,465 | 10,091 | 13,870 | 17,208 | 19,333 |
| Net interest income | 3,461 | 6,012 | 7,383 | 9,708 | 12,637 | 16,455 | 19,294 | 21,216 |
| Pre-provision operating profit | 908 | 1,970 | 2,584 | 3,284 | 4,996 | 6,239 | 7,379 | 7,186 |
| Provisions & contingencies | 1,518 | 4,316 | 2,065 | 3,109 | 1,665 | 2,382 | 5,515 | 5,379 |
| Profit before tax | −3,210 | −2,346 | 519 | 175 | 3,331 | 3,857 | 1,864 | 1,807 |
| Net profit | −1,908 | −2,843 | 483 | 132 | 2,485 | 2,942 | 1,490 | 1,611 |
| EPS (₹) | −4.7 | −5.9 | 0.9 | 0.2 | 4.0 | 4.3 | 2.0 | 1.9 |
| Net worth | 18,199 | 15,404 | 17,900 | 21,082 | 25,848 | 32,274 | 38,156 | 47,404 |
| Total debt | 69,983 | 57,397 | 45,786 | 52,963 | 57,212 | 50,936 | 38,984 | 36,633 |
| Advances | 86,302 | 85,595 | 1,00,550 | 1,17,858 | 1,51,795 | 1,94,592 | 2,33,113 | 2,80,391 |
| Deposits | 70,354 | 65,079 | 88,536 | 1,05,540 | 1,44,470 | 2,00,570 | 2,52,010 | 2,94,312 |
| Borrowings | 69,983 | 57,397 | 45,786 | 52,963 | 57,212 | 50,936 | 38,984 | 36,633 |
| Investments | 58,245 | 45,174 | 45,182 | 45,935 | 60,913 | 74,500 | 80,505 | 85,646 |
| Gross NPAs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net NPAs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating cash flow | — | — | 14,042 | 2,679 | 3,563 | 11,543 | 14,465 | 6,817 |
| Ratio | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Growth | ||||||||
| Advances growth YoY | — | -0.8 | 17.5 | 17.2 | 28.8 | 28.2 | 19.8 | 20.3 |
| Deposits growth YoY | — | -7.5 | 36.0 | 19.2 | 36.9 | 38.8 | 25.6 | 16.8 |
| Profit growth YoY | — | — | — | — | — | 18.4 | -49.3 | 8.1 |
| Profitability | ||||||||
| Net interest margin % | 2.1 | 3.8 | 4.7 | 5.5 | 5.9 | 6.1 | 6.0 | 5.7 |
| Cost-to-income % | 79.4 | 74.5 | 73.2 | 74.5 | 70.8 | 72.1 | 71.9 | 75.3 |
| Return on equity % | -10.5 | -16.9 | 2.9 | 0.7 | 10.6 | 10.1 | 4.2 | 3.8 |
| Return on assets % | -1.1 | -1.8 | 0.3 | 0.1 | 1.2 | 1.1 | 0.5 | 0.4 |
| Asset quality | ||||||||
| Gross NPA % | — | — | — | — | — | — | — | — |
| Net NPA % | — | — | — | — | — | — | — | — |
| Credit cost % | 1.8 | 5.0 | 2.2 | 2.8 | 1.2 | 1.4 | 2.6 | 2.1 |
| Credit / deposit % | 122.7 | 131.5 | 113.6 | 111.7 | 105.1 | 97.0 | 92.5 | 95.3 |