| Market Cap | ₹249.97 CrAsset Management |
|---|---|
| P/E TTM | 50.76xSector 19.45x |
| RSI | 54.57Neutral Zone |
| Promoter Holding | 50.42%No pledge |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 14.6 | 8.2 | 7.2 |
| Other Income | 1.4 | 2.0 | 3.9 |
| Total Income | 16.0 | 10.1 | 11.0 |
| Profit Before Tax | 7.0 | 2.9 | 4.9 |
| Exceptional Items | 0.0 | 2.5 | 0.0 |
| Net Profit | 5.3 | 1.2 | 3.5 |
| Operating Margin | 43.8% | 28.7% | 44.5% |
| Net Profit QoQ | +341.7% | ||
| Net Profit YoY | +51.4% | ||
| Adj. Profit QoQ | +450.0% | ||
| Adj. Profit YoY | +460.0% | ||
Key highlights
- Consolidated Net Profit rose to ₹5.3 Cr in Q2-27, representing a 51.4% increase compared to the same quarter last year
- Revenue from Operations reached ₹14.6 Cr, supported by management fee recoveries in the infrastructure debt fund subsidiary
- Operating Margin improved to 43.8% in the current quarter from 28.7% in Q1-27
- The company continues to hold liquid assets to meet obligations for the next 12 months despite no new fund mandates
- Promoter entity IL&FS is progressing with its resolution plan to divest its entire 50.42% stake in the company
Asset Recovery Drives Operational Revenue
IL&FS Investment Managers reported a substantial sequential increase in revenue from operations, which rose to ₹14.6 crore in Q2 FY27 compared to ₹8.2 crore in the previous quarter. This growth is largely attributed to the subsidiary IL&FS Infra Asset Management Limited, which earned management fees including ₹3.76 crore pertaining to earlier periods. These fees were recovered from non-performing asset accounts within the IL&FS Mutual Fund Infrastructure Debt Fund through enforcement of security and legal remedies.
This recovery-led revenue model remains critical as the company is currently not generating regular fee income from new fund management activities due to the expiration of existing mandates.
Operational Status and SFIO Investigations
- The company is managing 6 subsidiaries and 1 jointly controlled entity as of September 30, 2026
- Serious Fraud Investigation Office (SFIO) investigations against the IL&FS group and its subsidiaries remain ongoing
- The joint venture IL&FS Milestone Realty Advisors has ceased operations and is consolidated on a realizable value basis
- Management has confirmed that no new management fees were earned during the half-year ended September 2026
- The IL&FS Board is currently evaluating interest from prospective bidders for the sale of its promoter stake
- Unbilled revenue of ₹7.37 crore has remained outstanding for more than one year at the APUIAML subsidiary
Management Assessment on Continuity
Management expects that its liquid assets held by the Company as at September 30, 2026 will be adequately sufficient to meet the Company's existing and future obligations arising over the next 12 months.
Valuation and Market Standing
With a market capitalization of ₹249.97 crore, IL&FS Investment Managers is classified as a mid-range performer in the asset management space. The stock is currently trading at ₹7.96, which is approximately 32% above its 1-year low of ₹6.02. While the Price-to-Earnings ratio of 50.76 is elevated compared to the sector average of 19.45, the company maintains a Piotroski score of 6, indicating moderate financial strength.
Total consolidated assets stood at ₹223.68 crore at the end of the quarter, as the group continues to navigate a complex resolution framework under the National Company Law Tribunal mandate.
| Date | Announcement | Amount |
|---|---|---|
| 13 Aug 2026 | Q1 FY27 consolidated net profitSource: scanx.trade | ₹1.22 Cr |
| 30 May 2026 | Q4 FY26 consolidated net profitSource: NSE filing | ₹2.22 Cr |
| 13 Feb 2026 | Q3 FY26 consolidated net profitSource: ilfsindia.com | ₹-1.92 Cr |
| 13 Nov 2025 | Q1 FY26 consolidated net profitSource: BSE filing | ₹0.23 Cr |
| 29 May 2025 | Q4 FY25 standalone net profitSource: ilfsindia.com | ₹0.65 Cr |
| 13 Feb 2025 | Q3 FY25 consolidated net profitSource: ilfsindia.com | ₹3.23 Cr |
What to watch next
- Resolution of the promoter stake sale process initiated by the IL&FS Board
- Final outcome of the SFIO investigation and its impact on group financial results
- Next quarterly results announcement expected in February 2027
- Recovery of outstanding unbilled revenue balances exceeding one year in subsidiary accounts
“The IL&FS Board had on December 21, 2023 invited a public Expression of Interest (Eol) for sale of its entire stake in the Company. In response to the EOI, few prospective bidders have shown interest and the process is underway.”
| Share price | ₹7.96 |
|---|---|
| Market capitalisation | ₹249.97 Cr |
| Revenue (annual) | ₹54.91 Cr |
| Net profit (annual) | ₹3.86 Cr |
| Revenue (latest quarter) | ₹8.17 Cr-76.79% vs previous quarter |
| Net profit (latest quarter) | ₹1.94 Cr-12.40% vs previous quarter |
| P/E (TTM) | 50.76×Sector 19.45× |
| Promoter holding | 50.42%0.00% QoQ |
| FII holding | 0%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by IL&FS Investment Managers Ltd announcing the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
