IFCI Moat Analysis: Score & Risks
IFCI Ltd.
A first-pass moat teardown of IFCI Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Intangible Assets. Provisional, single-pass evidence.
IFCI Ltd. scores 4.39 on MoatSCORE 6.0 — a narrow moat in NBFC. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“after taking into account the recognition of IFCI brand in social development through ISF, `0.05 crore was earmarked by IFCI and entrusted to ISF for carrying out CSR activities during FY 2019-20”
“However, owing to decline in loan assets, due to repayments and non-recognition of income on stage 3 assets, Your Company booked a total comprehensive loss of ` 319.35 crore during the year under report.”
“However, the capital adequacy ratio reduced in current FY to -70.66 % with Tier-I capital at -71.06%.”
“During the FY 2022-23, Your Company did not sanction any new loans. There were also no disbursements towards loans/advances during FY 2022-23.”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 5 — below 6, so the band is capped narrow. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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