MORGAN STANLEY INDIA INVESTMENT FUND, INC. (IIF)
The Morgan Stanley India Investment Fund, Inc. is a U.S.-domiciled, closed-end equity mutual fund that began operations on December 22, 1993. It was initially established and is primarily managed by Morgan Stanley Investment Management Inc., with co-management responsibilities shared with Morgan Stanley Investment Management Company. The fund's strategy involves investing in the public equity markets of India, specifically targeting shares of companies spanning a wide array of diversified sectors. Its financial performance is benchmarked against the U.S. dollar-adjusted BSE National Index.
Industry: Asset Management
Morgan Stanley India Investment Fund, Inc.
NYSE:IIFFinancial Services · Asset Management
-0.89%$21.21
AH Close$21.21+0.00%vs close
AH Close$21.21+0.00%vs close
Mkt Cap$200.29M
Float9.09M
O/S9.44M
Inst Own43.9%
Div Yield9.36%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$20.56M
Net Income-$6.12M
Total Assets$300.97M
Free Cash Flow$0
Debt & Equity
Debt 0%
Equity 100%
Total Debt$106K
Total Equity$263.56M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in IIF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$300.97M
Liabilities$37.41M
Accounts Receivable$23K
Accounts Payable$18.75M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $20.56M | $1.97M | $2.14M | $34.78M | $82.42M | $13.55M | -$1.86M | -$109.67M | $187.33M | $4.93M | $3.91M | $4.35M | $3.68M | $5.02M |
| YoY Growth | 941.4% | -7.8% | -93.8% | -57.8% | 508.4% | -827.9% | -98.3% | -158.5% | 3702.8% | 25.9% | -10.0% | 18.1% | -26.7% | - |
| Cost of Revenue | $3.5M | $0 | $47.75M | $3.91M | $3.99M | $3.31M | $3.78M | $5.33M | $6.56M | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $17.05M | $1.97M | -$45.61M | $30.86M | $78.42M | -$3.94M | -$5.64M | -$114.99M | $180.76M | $4.93M | $3.91M | $4.35M | $3.68M | $5.02M |
| Gross Margin | 82.9% | 100.0% | -2131.3% | 88.8% | 95.2% | -29.1% | 303.1% | 104.9% | 96.5% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | -$21 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $829K | $3.98M | $716K | $821K | $727K | $779K | $692K | $1.1M | $1.79M | $6.13M | $6.32M | $5.56M | $4.95M | $5.27M |
| Other | $22.19M | $0 | -$114K | $3.31M | -$144K | $2.69M | -$138K | -$215K | -$265K | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $23.02M | $3.98M | $602K | $4.13M | $583K | $3.47M | $554K | $889K | $1.52M | $14.44M | $6.59M | $136.59M | $22.18M | $94.5M |
| Operating Income (EBIT) | -$5.97M | -$2M | $49.29M | -$35.9M | $81.83M | $12.87M | -$2.42M | -$110.56M | $185.81M | -$1.2M | -$2.4M | -$1.21M | -$1.27M | -$247K |
| Operating Margin | -29.0% | -101.5% | 2303.2% | -103.2% | 99.3% | 95.0% | 129.8% | 100.8% | 99.2% | -24.4% | -61.4% | -27.8% | -34.4% | -4.9% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $1.78M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$151K | $64.43M | $50.66M | -$348K | -$287K | -$38K | $0 | $0 | $1.87M | $20.57M | -$276K | $142.15M | -$17.23M | $99.77M |
| Income Before Tax (EBT) | -$6.12M | $62.42M | $49.29M | -$36.24M | $81.83M | $12.87M | -$2.42M | -$110.56M | $185.81M | $19.36M | -$2.68M | $140.94M | -$18.5M | $99.52M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $471K | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$6.12M | $62.42M | $49.29M | -$36.24M | $81.83M | $12.87M | -$2.42M | -$110.56M | $185.81M | $19.36M | -$2.68M | $140.94M | -$18.5M | $99.52M |
| Net Income Margin | -29.8% | 3162.4% | 2303.2% | -104.2% | 99.3% | 95.0% | 129.8% | 100.8% | 99.2% | 393.1% | -68.4% | 3241.5% | -502.3% | 1981.3% |
| Supplementary Data | ||||||||||||||
| EPS | -0.65 | 6.34 | 4.91 | -3.30 | 7.29 | 1.14 | -0.18 | -8.11 | 12.96 | 1.34 | -0.18 | 9.15 | -1.16 | 5.35 |
| Diluted EPS | -0.65 | 6.34 | 4.91 | -3.30 | 7.29 | 1.14 | -0.18 | -7.87 | 12.96 | 1.34 | -0.18 | 9.15 | -1.16 | 5.35 |
| Weighted Average OS | 9.44M | 9.66M | 9.95M | 10.98M | 11.23M | 22.52M | 13.40M | 13.63M | 14.34M | 14.42M | 14.95M | 15.40M | 15.99M | 18.62M |
| EBITDA | -$6.12M | $0 | $0 | -$33.77M | $84.51M | $13.92M | -$2.03M | -$109.58M | $185.33M | $0 | $0 | $0 | $0 | $247K |
| EBITDA Margin | -29.8% | - | - | -97.1% | 102.5% | 102.7% | 109.3% | 99.9% | 98.9% | - | - | - | - | 4.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $783K | $1.33M | $8.68M | $2.96M | $10.55M | $6M | $16.29M | $33.88M | $29.57M | $31.39M | $8.24M | $16.06M | $3.53M | $10.81M |
| Short-Term Investments | $18.31M | $27.26M | $0 | $0 | $0 | $1.97M | $2.46M | $2.83M | $2.01M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $19.09M | $28.6M | $8.68M | $2.96M | $10.55M | $7.97M | $18.75M | $36.72M | $31.58M | $31.39M | $8.24M | $16.06M | $3.53M | $10.81M |
| Accounts Receivable | $23K | $44K | $44K | $25K | $114K | $383K | $1.08M | $4.94M | $506K | $1.14M | $124K | $147K | $150K | $170K |
| Inventory | $0 | $0 | $0 | $42.23M | $12.52M | $0 | $2.1M | $0 | $687K | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | -$44K | $0 | -$42.23M | -$12.52M | -$8.36M | -$20.48M | $1.08M | $183K | $122K | $1K | $0 | $0 | $0 |
| Total Current Assets | $19.11M | $28.6M | $8.73M | $2.98M | $10.67M | $0 | $1.45M | $4.94M | $506K | $32.66M | $8.37M | $16.21M | $3.68M | $10.98M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $281.84M | $340.22M | $298.12M | $305.23M | $372.81M | $282.05M | $314.7M | $368.39M | $599.74M | $401.42M | $427.58M | $434.56M | $318.36M | $376.74M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $12K | $340.28M | $12K | $19K | -$10.43M | -$282.05M | $0 | -$368.39M | -$599.74M | $40K | $44K | $6K | $57K | -$376.74M |
| Total Long-Term Assets | $281.86M | $340.22M | $298.13M | $305.25M | $362.39M | $0 | $314.7M | $368.39M | $599.74M | $401.46M | $427.62M | $434.56M | $318.42M | $376.74M |
| Other Assets | $0 | -$27.2M | $306.86M | $19K | -$10.43M | $288.69M | $656K | $192K | $238K | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $300.97M | $341.61M | $306.86M | $308.23M | $372.94M | $288.69M | $316.81M | $373.53M | $600.48M | $434.12M | $435.99M | $450.77M | $322.1M | $387.72M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $18.75M | $26.05M | $31.19M | $41.85M | $11.06M | $43K | $413K | $52.12M | $61.53M | $0 | $0 | $0 | $0 | $0 |
| Short-Term Debt | $106K | $85K | $56K | $68K | $157K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $41.79M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$19.14M | -$479K | -$31.54M | -$41.85M | -$157K | $0 | $374K | -$52.92M | -$62.78M | $10.01M | $606K | $0 | $0 | $618K |
| Total Current Liabilities | $106K | $26.05M | $56K | $41.85M | $11.06M | $455K | $1.32M | $52.12M | $61.53M | $10.77M | $1.33M | $753K | $522K | $618K |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $37.3M | $21.23M | $10.43M | $7.47M | $11.85M | $2.46M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $37.3M | $21.23M | $10.43M | $7.47M | $11.85M | $2.46M | $3.43M | $53.01M | $69.07M | $0 | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $47.67M | $0 | -$33.97M | -$23.3M | -$2.91M | -$1.32M | -$52.12M | -$61.53M | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $37.41M | $47.67M | $41.97M | $49.74M | $23.45M | $2.91M | $3.43M | $53.01M | $69.07M | $10.77M | $1.33M | $753K | $522K | $618K |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $94K | $97K | $99K | $105K | $110K | $113K | $134K | $136K | $142K | $144K | $150K | $154K | $160K | $186K |
| Retained Earnings | $85.75M | $110.43M | $74.06M | $55.96M | $134.06M | $63.29M | $48.73M | $51.51M | $223K | $130.29M | $126.38M | $126.98M | -$14.39M | $962K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $243.94M | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $177.72M | $183.41M | $190.73M | $202.42M | $215.32M | $222.38M | $264.52M | $268.87M | $531.04M | $292.89M | $308.11M | $322.85M | $335.37M | $385.92M |
| Total Equity | $263.56M | $293.94M | $264.89M | $258.49M | $349.49M | $285.78M | $313.38M | $320.52M | $531.41M | $423.33M | $434.64M | $449.99M | $321.14M | $387.07M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $300.97M | $341.61M | $306.86M | $308.23M | $372.94M | $288.69M | $316.81M | $373.53M | $600.48M | $434.1M | $435.97M | $450.74M | $321.66M | $387.69M |
| Supplementary Data | ||||||||||||||
| Total Debt | $106K | $85K | $56K | $68K | $157K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$677K | -$1.33M | -$8.63M | -$2.89M | -$10.39M | -$6M | -$16.29M | -$33.88M | -$29.57M | -$31.39M | -$8.24M | -$16.06M | -$3.53M | -$10.81M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | -$6.12M | $62.42M | $49.29M | -$36.24M | $81.83M | $12.87M | -$2.42M | -$110.56M | $185.81M | $19.36M | -$2.68M | $140.94M | -$18.5M | $99.52M |
| Depreciation & Amortization | $0 | $2M | $1.37M | $2.13M | $2.39M | $1.01M | $0 | $556K | $1.4M | $1.2M | $2.4M | $1.21M | $1.27M | $247K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Non-Cash Items | $6.12M | -$64.43M | -$50.66M | $34.12M | -$84.22M | -$13.88M | $2.42M | $110M | -$187.2M | -$20.57M | $276K | -$142.15M | $17.23M | -$99.77M |
| Net Cash from Operating | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $0 | $0 | -$7.6M | $4.55M | -$10.29M | -$17.59M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at Beginning | $0 | $0 | $0 | $10.55M | $6M | $16.29M | $33.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at End | $0 | $0 | $0 | $2.96M | $10.55M | $6M | $16.29M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |