IFCI Limited , a Government of India Undertaking, has notified the stock exchanges of a change in its board of directors pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed that Shri Umesh Kumar Garg ceased to be an Independent Director with effect from May 10, 2026, upon the completion of his tenure on May 09, 2026.

Board Change Details

The disclosure was made in continuation of the company's earlier letter referenced as IFCI/CS/2023-277 and IFCI/CS/2023-278 (BSE and NSE respectively), dated May 25, 2023. The key details of the director cessation are summarised below:

Regulatory Compliance

The intimation was submitted in accordance with the applicable disclosure norms under SEBI regulations. The communication was digitally signed by Priyanka Sharma, Company Secretary and Compliance Officer of IFCI Limited, on May 10, 2026. The company's registered office is located at IFCI Tower, 61 Nehru Place, New Delhi – 110 019.

IFCI Limited has announced its audited consolidated financial results for the quarter and year ended March 31, 2026. The company reported total revenue from operations of ₹470.43 crore for Q4 FY26, compared to ₹413.61 crore in the corresponding quarter of the previous year. Net profit for the quarter stood at ₹34.06 crore, while profit before tax was ₹27.36 crore.

Annual Performance FY26

For the full year ended March 31, 2026, IFCI recorded total revenue from operations of ₹2,068.84 crore, up from ₹2,018.52 crore in the previous year. Net profit for the year increased to ₹434.71 crore from ₹348.61 crore in FY25. Total comprehensive income for the year reached ₹573.95 crore.

Asset Quality and Capital Adequacy

The Gross NPAs as on March 31, 2026 stood at ₹3,569.97 crore with a Gross NPA ratio of 95.79%, compared to ₹3,693.90 crore and 95.98% respectively in the previous year. The Capital Risk Adequacy Ratio (CRAR) was recorded at (-) 18.78% as on March 31, 2026, which is below the RBI notification requirements. The Net credit impaired Assets Ratio stood at 78.44%.

Key Developments

The Board of Directors at its meeting held on April 28, 2026, reviewed and approved the financial results. The Department of Financial Services has accorded in-principle approval for the consolidation of IFCI Group, which entails merger or amalgamation of certain group companies at the holding and subsidiary levels. The Board has commenced the process for the same in accordance with applicable laws and regulations.

The company received ₹500 crore from GoI in January 2025 towards subscription to share capital, with 8,07,23,280 equity shares allotted at ₹61.94 per share on preferential basis. The issue proceeds were fully utilised during the quarter ended June 30, 2025.

Source: None/Company/INE039A01010/854904bd7876439b.pdf