In 2023, the company strengthened its operations by merging KKR India Financial Services Limited (KIFSL) with IFSL. Post-merger, the unified entity continued under the name InCred Financial Services Limited and became a wholly owned subsidiary of IHL, resulting in a more streamlined corporate structure.

Business Segments

Personal Loans:
Offers fast and flexible funding solutions for needs such as medical emergencies, travel, or debt consolidation.

Education Loans:
Provides financial assistance to students for tuition, accommodation, and other academic expenses.

Home Loans:
Delivers attractive mortgage options designed to support homebuyers.

Small Business Loans:
Tailored financing solutions aimed at supporting entrepreneurs and MSMEs in their growth journey.

Key Financial Highlights

1. Revenue Growth:
Interest income increased significantly from ₹488 crore in 2022 to ₹1,194 crore in 2024, indicating strong expansion in the lending portfolio.

2. Profitability Growth:
Profit After Tax (PAT) witnessed a sharp rise from ₹31 crore in 2022 to ₹309 crore in 2024, reflecting improved operational performance.

3. Earnings Per Share (EPS):
EPS grew from 1.61 in 2022 to 4.81 in 2024, demonstrating enhanced returns for shareholders.

4. Asset Growth:
Total assets expanded from ₹4,035 crore in 2022 to ₹8,768 crore in 2024, highlighting rapid business scaling.

5. Loan Book Expansion:
Advances increased from ₹3,733 crore in 2022 to ₹7,259 crore in 2024, reinforcing the company’s lending capabilities.

6. Asset Quality Stability:
Gross and Net NPAs remained steady at 2.1% in 2024, reflecting disciplined risk management.

7. Capital Strength:
Share capital rose from ₹192.75 crore in 2022 to ₹641.81 crore in 2024, strengthening the company’s financial base.

Pros
Strong financial growth driven by rising revenue and profitability
Stable asset quality with controlled NPAs
Technology-driven approach improving efficiency and customer experience
Cons
Increasing borrowings, leading to higher financial leverage
Volatility in other income, including a loss reported in 2023
Decline in cash reserves, which may impact liquidity position