Debt to equity ration was at 9.21 times as on 31 March 2023 as against 9.47 times as on 31 March 2022. Capital-to-risk-weighted assets ration stood at 512.02%.

On full year basis, the finance company's increased 4.06% to Rs 6,337.01 crore on 17.89% rise in total income to Rs 23,932.62 crore in FY23 over FY22.

Meanwhile, the board recommended final dividend of Rs 0.70 per equity share for the financial year 2022-23, subject to approval of shareholders.

Further, board of directors of IRFC approved the authorisation of market borrowing during the year 2023-24 up to Rs 50,000 crore through a prudent mix from the domestic markets / offshore markets, funds through ECBs /ECAs / funding facility from multilateral / bilateral agencies, taxable bonds on private placement basis, including capital gain bonds.

Funds under the proposed borrowing programme for FY24 shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions. It is further informed that to meet the borrowed target, the company will raise the funds at regular intervals.

Lastly, the board has designated Sunil Kumar Goel, group general manager (Finance) as the chief financial officer (CFO) and key managerial personnel (KMP) of the company effective from 25 May 2023 in place of Shelly Verma who is chairman & managing director (addl. charge), CEO and Director Finance of the company.

IRFC is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets. The Government of India held 86.36% stake in the company as on 31 March 2023.