Key Strengths

• Established Track Record and Experienced Leadership: With nearly three decades of experience in vehicle financing, IKF boasts a robust track record and a highly qualified board and management team.
• Strong Investor Backing: The company has attracted investments from prominent investors, including funds managed by Motilal Oswal Private Equity (AUM: $2 billion), British International Investment (BII) (AUM: $9.2 billion), and Teachers Insurance and Annuity Association of America (TIAA) (AUM: $1.3 trillion).
• Demonstrated Ability to Raise Capital: IKF successfully raised ₹255 crore in equity during FY23 from Accion (managed by BII) and other investors, followed by an additional ₹120 crore from TIAA in FY24.
• Credit Rating Upgrade: CARE Ratings recently upgraded IKF’s rating from A/Stable to A+/Stable, recognizing the company’s consistent financial performance, expanding scale of operations, and comfortable capitalization levels, bolstered by regular equity infusions.
• Expanding Scale and Consistent Profitability: IKF’s AUM has grown significantly, increasing by 72% from ₹2,452 crore in March 2023 to ₹4,224 crore in September 2024. The company has also maintained strong profitability, generating a PAT of ₹77 crore in FY24 and ₹53 crore in H1 FY25. ROTA has also improved, rising from 2.4% in FY24 to 2.9% in H1 FY25.
• Improving Asset Quality: IKF’s asset quality continues to improve, with Gross Non-Performing Assets (GNPA) decreasing from 2.8% in March 2023 to 2.4% in March 2024 and further to 2.3% in September 2024.