New Delhi | 28 October 2026: The Indian Railway Finance Corporation (IRFC) has received a favourable order from the Assistant Commissioner of State Tax, Delhi Zonal Unit, resulting in a nil demand against an earlier GST show-cause notice of ₹549.32 crore.
The order was passed on 23 October 2026, and IRFC disclosed the development under Regulation 30 of the SEBI Listing Regulations. As a result, the earlier show-cause notice amounting to ₹549.32 crore has been dropped.
Financial Performance Remains Strong
The development comes shortly after IRFC announced its H1 FY27 financial results. For the half year ended September 30, 2026, IRFC reported revenue from operations of ₹16,127.53 crore and net profit of ₹3,885.69 crore.
The company’s Board also declared a second interim dividend of ₹1.15 per equity share, with 23 October 2026 fixed as the record date.
₹4,200 Crore Renewable-Energy Financing
In another important development, IRFC signed a ₹4,200 crore loan agreement with Damodar Valley Corporation (DVC) in September to finance renewable-energy projects in Jharkhand and West Bengal. The financing will support floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System projects.
The Worldonomics Times Insight
The GST order removes a significant tax-proceeding overhang for IRFC, while the company’s strong H1 performance and growing financing activities demonstrate its expanding role in India’s railway and infrastructure ecosystem.
IRFC’s increasing involvement in renewable-energy financing also reflects its broader diversification beyond traditional railway asset financing.
