Indian Railway Finance Corporation543257Dividend news update

Board approves Interim Dividend of Rs. 1.15, Q2 FY27 results and NBFC upper layer transition policy

IRFC's Board met on 15 October 2026 and approved the un-audited financial results for the quarter and half year ended 30 September 2026.

By ScoutQuest · Thu 15 Oct 2026, 3:19 PM IST · 4 min read

82.9%Shares held by Government of India

Shares held by Government of India: 82.90%.

Interim Dividend: Rs. 1.15 per equity share of Rs. 10/- each for FY 2026-27
Revenue from Operations (Q2): Rs. 7,866.41 crore
Profit for the Period (Q2): Rs. 1,958.48 crore

Board meeting outcome for 15th October 2026

The Board of Directors of Indian Railway Finance Corporation met on Thursday, 15th October 2026 and approved the un-audited financial results for the quarter and half year ended 30th September 2026, an Interim Dividend, and the Policy for Transition to the NBFC Upper Layer Regulatory Framework. The meeting commenced at 1:50 p.m. and concluded at 3:10 p.m.

What the Board approved

Un-audited Financial Results of the Company for the quarter and half year ended 30th September 2026, along with the Cash Flow Statement and the Statement of Assets and Liabilities as on that date, and the Joint Statutory Auditors' Limited Review Report.
An Interim Dividend of Rs. 1.15 per equity share of Rs. 10/- each for the financial year 2026-27.
The Policy for Transition to the NBFC Upper Layer Regulatory Framework.

The financial results were reviewed by the Audit Committee at its meeting on 15th October 2026 and approved and taken on record by the Board at its meeting on 15th October 2026.

Dividend details

Interim Dividend of Rs. 1.15 per equity share of face value Rs. 10/- each for FY 2026-27.
Record date for determining eligibility: Friday, 23rd October 2026.
Payment: within 30 days from the date of declaration.
Eligibility is based on names appearing as beneficial owners in the statements furnished by the depositories, or as members in the register of members, as on the close of business hours on Friday, 23rd October 2026.
Dividend income is taxable in the hands of shareholders and the company deducts tax at source at the rates prescribed in the Income Tax Act, 2025. Credit of TDS can be seen in Form 168, downloadable from the shareholder's e-update account at the Income Tax Portal.
Details or documents needed for TDS at lower rates must reach the Registrar and Transfer Agent at irfcinvestors@beetalmail.com on or before Friday, 23rd October 2026.
Dividend will be paid exclusively through electronic mode; the facility for payment by physical instruments such as cheques or warrants has been discontinued. Bank and KYC details should be updated through the depository participant for demat shares, or through the Company/RTA for physical shares.

Quarterly performance (quarter ended 30th September 2026)

Revenue from operations: Rs. 7,866.41 crore (quarter ended 30th June 2026: Rs. 8,261.11 crore; quarter ended 30th September 2025: Rs. 6,371.89 crore).
Profit before tax: Rs. 1,958.48 crore.
Profit for the period: Rs. 1,958.48 crore (30th June 2026: Rs. 1,927.21 crore; 30th September 2025: Rs. 1,776.98 crore).
Total income: Rs. 7,924.46 crore.
Basic and diluted earnings per share: Rs. 1.50 each.

Half year and balance sheet

Revenue from operations for the half year ended 30th September 2026: Rs. 16,127.52 crore (half year ended 30th September 2025: Rs. 13,287.27 crore).
Profit for the half year: Rs. 3,885.69 crore (Rs. 3,522.67 crore in the corresponding half year).
Basic and diluted earnings per share for the half year: Rs. 2.97 each.
Total comprehensive income for the half year: Rs. 3,824.59 crore.
Total assets as on 30th September 2026: Rs. 5,27,976.59 crore.
Net worth: Rs. 60,573.35 crore (as on 31st March 2026: Rs. 56,748.76 crore).
Debt equity ratio: 7.12 as on 30th September 2026, against 7.69 as on 31st March 2026.

Government shareholding

The President of India, acting through and represented by the Ministry of Railways, disinvested 1.75% of its holdings through an Offer For Sale to non-retail and retail investors in June 2026. The total holding of the Government of India as on 30th September 2026 is 82.90%, compared to 84.65% as on 31st March 2026.

Other disclosures in the outcome

Investor complaints: nil pending at the beginning and at the end of the quarter ended 30th September 2026. During the quarter, 114 equity complaints and 173 bond complaints were received through correspondence and 1 equity complaint was received from SEBI; 115 equity complaints and 173 bond complaints were resolved or replied to.
The company states that 100% security cover was maintained, by way of charge on present and future rolling stock assets and/or lease receivables, for the secured non-convertible debt securities and other secured borrowings outstanding as on 30th September 2026, and that it maintains an asset cover of 1x for these.
The composition of the Board was not as per the provisions of the SEBI (LODR) Regulations due to insufficient number of Independent Directors appointed by the Government of India; the company states it is regularly writing to the administrative ministry, the Ministry of Railways, for the appointment of the requisite number of Independent Directors on the Board.
The company has no subsidiary, associate or joint venture company as on 30th September 2026, and accordingly is not required to prepare consolidated financial results.
The company's main business is to provide leasing and financing to the Railway Sector in India.

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