IFGL Refractories
IFGLEXPOR NSE
IFGL Refractories
Industrial ProductsNSE: IFGLEXPOR BSE: 540774 Electrodes & Refractories
Key Fundamentals
MicrocapElectrodes & RefractoriesIndustrial ProductsMarket Cap
₹1,488 Cr
Volatility
Moderate
P/E Ratio
36.28
EBITDA
₹146 Cr
Return on Equity
2.95%
Debt to Equity
0.18
Book Value
₹163
EPS
₹21.29
52W High
₹338
52W Low
₹119.68
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 44.8%
Weaknesses
1- Company has a low return on equity of 4.92% over last 3 years.
Growth Rate
Revenue Growth
13.98% higher than
3Y
Net Income Growth
-19.3% higher than
3Y
Cash Flow Change
124% higher than
3Y
ROE
-23.97% lower than
3Y
ROCE
-20% higher than
3Y
EBITDA Margin (Avg.)
-12.36% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 424 | 456 | 366 | 394 | 415 | 411 | 379 | 449 | 454 | 489 | 469 | 483 | 512 |
| Expenses | 368 | 388 | 370 | 359 | 368 | 379 | 362 | 415 | 418 | 451 | 446 | 444 | 475 |
| Operating Profit | 56 | 68 | -4 | 35 | 46 | 33 | 17 | 33 | 36 | 38 | 23 | 39 | 37 |
| OPM % | 13% | 15% | -1.1% | 9% | 11% | 8% | 4.4% | 7% | 8% | 8% | 4.9% | 8% | 7% |
| Other Income | 3 | 4 | 4 | 7 | 7 | 4 | 3 | 4 | 3 | 2 | -3 | 2 | 3 |
| Interest | 3 | 2 | 3 | 3 | 3 | 3 | 4 | 4 | 5 | 4 | 4 | 4 | 3 |
| Depreciation | 16 | 16 | 16 | 17 | 17 | 18 | 18 | 20 | 19 | 20 | 20 | 21 | 14 |
| PBT | 41 | 54 | -18 | 21 | 33 | 15 | -2 | 13 | 15 | 17 | -4 | 17 | 23 |
| Tax % | 28% | 29% | -108% | 41% | 26% | 21% | 11% | 34% | 29% | 24% | -18% | 16% | 26% |
| Net Profit | 30 | 38 | 2 | 13 | 25 | 12 | -2 | 8 | 11 | 13 | -3 | 14 | 17 |
| EPS in Rs | 4.11 | 5.27 | 0.21 | 1.74 | 3.42 | 1.68 | -0.3 | 1.17 | 1.5 | 1.76 | -0.43 | 1.98 | 2.37 |
Profit & Loss
| Particulars | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 766 | 835 | 950 | 917 | 1,022 | 1,260 | 1,386 | 1,639 | 1,653 | 1,894 | 1,953 |
| Expenses | 667 | 729 | 841 | 825 | 865 | 1,117 | 1,233 | 1,485 | 1,523 | 1,757 | 1,816 |
| Operating Profit | 99 | 106 | 109 | 92 | 157 | 143 | 153 | 155 | 130 | 137 | 137 |
| OPM % | 13% | 13% | 12% | 10% | 15% | 11% | 11% | 9% | 8% | 7% | 7% |
| Other Income | 4 | 4 | 4 | -10 | 19 | 16 | 13 | 18 | 17 | 4 | 4 |
| Interest | 5 | 4 | 4 | 4 | 3 | 3 | 5 | 11 | 15 | 17 | 14 |
| Depreciation | 44 | 44 | 46 | 48 | 49 | 51 | 56 | 64 | 73 | 80 | 74 |
| PBT | 55 | 63 | 64 | 30 | 124 | 104 | 106 | 98 | 60 | 45 | 53 |
| Tax % | 8% | 25% | 21% | 35% | 47% | 25% | 25% | 17% | 28% | 23% | — |
| Net Profit | 50 | 47 | 50 | 19 | 66 | 77 | 79 | 82 | 43 | 35 | 41 |
| EPS in Rs | 86.16 | 6.54 | 7 | 2.7 | 9.1 | 10.75 | 10.99 | 11.33 | 5.96 | 4.81 | 5.68 |
| Div. Payout % | 1% | 15% | 18% | 46% | 55% | 33% | 32% | 31% | 59% | 45% | — |
Balance Sheet
| Particulars | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 72 |
| Reserves | 650 | 716 | 759 | 773 | 854 | 898 | 969 | 1,036 | 1,071 | 1,103 |
| Borrowings | 84 | 112 | 89 | 65 | 64 | 99 | 160 | 174 | 213 | 209 |
| Other Liabilities | 158 | 134 | 135 | 150 | 230 | 253 | 261 | 244 | 298 | 284 |
| Total Liabilities | 894 | 999 | 1,019 | 1,024 | 1,184 | 1,286 | 1,426 | 1,490 | 1,618 | 1,667 |
| Fixed Assets | 471 | 461 | 454 | 440 | 416 | 422 | 500 | 517 | 593 | 610 |
| CWIP | 2 | 8 | 6 | 7 | 22 | 25 | 46 | 104 | 27 | 41 |
| Investments | 12 | 13 | 46 | 94 | 128 | 135 | 132 | 126 | 105 | 68 |
| Other Assets | 409 | 516 | 513 | 483 | 618 | 704 | 748 | 743 | 893 | 949 |
| Total Assets | 894 | 999 | 1,019 | 1,024 | 1,184 | 1,286 | 1,426 | 1,490 | 1,618 | 1,667 |
Cash Flow
| Particulars | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 28 | 41 | 109 | 150 | 139 | 4 | 6 | 152 | 28 | 63 |
| Investing | -9 | -40 | -70 | -50 | -97 | -26 | -118 | -115 | -34 | -13 |
| Financing | -4 | 18 | -37 | -66 | -5 | -7 | 50 | -24 | -4 | -58 |
| Net Cash Flow | 14 | 19 | 3 | 33 | 38 | -29 | -62 | 13 | -9 | -8 |
| Free Cash Flow | 15 | -2 | 72 | 126 | 108 | -61 | -130 | 18 | -44 | 0 |
| CFO/OP | 48 | 53 | 114 | 163 | 101 | 21 | 23 | 113 | 42 | 66 |
Ratios
| Particulars | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 109 | 124 | 88 | 84 | 82 | 79 | 92 | 72 | 79 | 82 |
| Inventory Days | 94 | 94 | 120 | 113 | 129 | 154 | 153 | 132 | 179 | 152 |
| Days Payable | 118 | 109 | 95 | 99 | 119 | 111 | 94 | 79 | 104 | 86 |
| Cash Conversion Cycle | 85 | 110 | 112 | 98 | 91 | 122 | 151 | 126 | 154 | 148 |
| Working Capital Days | 68 | 83 | 75 | 72 | 68 | 80 | 94 | 75 | 83 | 86 |
| ROCE % | — | 8% | 8% | 6% | 14% | 11% | 10% | 9% | 6% | 5% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view IFGL Refractories insights
64 extracted metrics + investor summaries across FY09–FY26.
Documents
1
Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Sep - Following provisions of Section 201(2) of the Companies Act, 2013, the Company has published Notice in English Newspaper, Business Standard - Bhubaneswar Edition and Pratidin … 11 Sep - Following provisions of Section 201(2) of the Companies Act, 2013, the Company has published Notice in English Newspaper, Business Standard - Bhubaneswar Edition and Pratidin …
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Pursuant to Regulation 30 read with sub-para 15 of Para A of Part A of Schedule III of the SEBI (LODR) Regulations, 2015 ('SEBI LODR, … 2d - Pursuant to Regulation 30 read with sub-para 15 of Para A of Part A of Schedule III of the SEBI (LODR) Regulations, 2015 ('SEBI LODR, …
3
Announcement under Regulation 30 (LODR)-Change in Management
1d - Vice President (Vizag Works) resigned; C Natarajan appointed effective 10 May 2026. 1d - Vice President (Vizag Works) resigned; C Natarajan appointed effective 10 May 2026.
4
Announcement under Regulation 30 (LODR)-Change in Management
1d - Mr K Selva Muthu Kumar resigned; Mr C Natarajan appointed Vice President, Vizag Works, effective 10 May 2026. 1d - Mr K Selva Muthu Kumar resigned; Mr C Natarajan appointed Vice President, Vizag Works, effective 10 May 2026.
5
Announcement under Regulation 30 (LODR)-Change in Management
7 May - Chief Research Officer Narendra Kumar Mishra resigned effective close of business on 7 May 2026. 7 May - Chief Research Officer Narendra Kumar Mishra resigned effective close of business on 7 May 2026.
Frequently Asked Questions about IFGL Refractories
What does IFGL Refractories Ltd do?
IFGL Refractories Ltd is a manufacturer of Specialized refractories and requisite operating systems for Iron and Steel Industry.[1]
It is promoted by the S.K. Bajoria Group of India and Krosaki Harima Corporation of Japan, a global leader in the refractories business.[2]
Where is IFGL Refractories Ltd (IFGLEXPOR) listed?
IFGL Refractories Ltd trades as IFGLEXPOR on the NSE and under code 540774 on the BSE.
Which sector does IFGL Refractories Ltd belong to?
IFGL Refractories Ltd is classified under the Industrial Products sector, in the Electrodes & Refractories industry.
What is the market capitalisation of IFGL Refractories Ltd?
IFGL Refractories Ltd has a market capitalisation of ₹1,488 Cr, which places it in the Small Cap band.
What is the PE ratio of IFGL Refractories Ltd?
IFGL Refractories Ltd trades at a PE ratio of 36.28, on earnings per share of ₹21.29, against a book value of ₹163 per share.
What is the 52-week high and low of IFGL Refractories Ltd?
Over the last 52 weeks IFGL Refractories Ltd has traded between ₹119.68 and ₹338.
Does IFGL Refractories Ltd pay dividends?
IFGL Refractories Ltd has a dividend yield of 1.01%.
What is the Return on Equity (ROE) of IFGL Refractories Ltd?
IFGL Refractories Ltd reported a return on equity of 2.95%. Its debt-to-equity ratio is 0.18.
Company Information
IFGL Refractories Ltd is a manufacturer of Specialized refractories and requisite operating systems for Iron and Steel Industry.[1] It is promoted by the S.K. Bajoria Group of India and Krosaki Harima Corporation of Japan, a global leader in the refractories business.[2]
Website ifglgroup.com
CEO Mr. Shishir Kumar Bajoria
Employees 1,181
Listed 2017-11-14
Face Value ₹ 10
Issued Size 7,20,78,624
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