Pick of the Week: IIFL Capital Services Limited

IIFL Capital Services Limited (formerly IIFL Securities Limited) was incorporated in 1996 as the broking arm of the IIFL Group. It provides retail and institutional equities, financial products distribution, commodity and currency broking, investment banking, financial planning and wealth management services to retail and institutional clients across India. It reported FY26 revenue of around ₹2,508 Cr (TTM 2,434 Cr), with FY26 consolidated PAT of ₹564 Cr, down about 21% YoY as institutional and investment-banking income softened. 5-year sales CAGR is 24% and profit CAGR 16%. Key catalyst: Fairfax’s FIH Mauritius is investing 2,000 Cr via preferential issue and has launched a 26% open offer at ₹350 per share to take the Fairfax group to at least 51%; CCI approved it on 22 Sep 2026, with SEBI/exchange approvals pending.