IFGL Refractories Limited IFGLEXPOR NSEINFRA

Basic Materials · Building Materials · India

https://www.ifglgroup.com

IFGL Refractories Limited manufactures, trades in, and sells refractory items and related equipment and accessories used in steel plants in India and internationally. The company provides specialized refractories and total refractory solutions primarily for iron and steel. It offers iron and steel solutions, such as raker plate, granshot tundish, desulphurisation lances, torpedo, basic oxygen furnance, electric arc furnance, electric steel making, ladle, tundish, and fluxes. The company also provides ceramics products, including round hole filters, hipercast, EXHOF feeder heads, and SiC-DC casting. In addition, it offers continuous casting refractories, slide gate refractories, monolithics, precast shapes, zircon and zirconia nozzles, casting flux, and mechanism section. The company was formerly known as IFGL Exports Limited and changed its name to IFGL Refractories Limited in October 2017. IFGL Refractories Limited was founded in 1979 and is headquartered in Kolkata, India. IFGL Refractories Limited is a subsidiary of Bajoria Financial Services Private Limited.

Market & Price

Market Cap

₹1,259.14 Cr

Current Price

₹174.69

High / Low (52W)

₹303.00 / ₹123.00

Beta

1.06

Valuation

Stock P/E

43.67

Industry PE

23.81

Forward P/E

10.65

PEG Ratio

Book Value

₹157.80

Price to Book

1.11

P/S

0.68

EV/EBITDA

10.16

Dividend Yield

4.01%

Profitability & Returns

ROCE

6.10%

ROE

ROA

Profit Margin

1.55%

Op Margin

0.66%

EPS (Latest Qtr)

₹-0.43

EPS (TTM)

₹4.00

Balance Sheet & Liquidity

Debt/Equity

0.19

Quick Ratio

Current Ratio

Debt

₹216.79 Cr

Total Assets

₹1,618.50 Cr

Current Assets

₹951.12 Cr

Working Capital

₹534.71 Cr

Ownership

Promoter Holding

75.94%

Chg in Prom Hold

FII / Inst Holding

13.17%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹1,349.42 Cr

Total Revenue (TTM)

₹1,859.81 Cr

EBITDA

₹132.83 Cr

Free Cash Flow

Operating Cash Flow

Shares Outstanding

₹7.21 Cr

Gross Margin

46.90%

Payout Ratio

87.61%

Growth (CAGR)

Revenue 5Y

9.84%

Profit 5Y

-17.84%

Revenue (YoY)

23.70%

Earnings (YoY)

PROS

Attractive dividend yield of 4.01%.

CONS

Earnings shrank at -17.8% CAGR over 5 years.
Trading 42.4% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	IFGLEXPOR IFGL Refractories Limited NSEINFRA	174.69	43.67	₹1,259.14 Cr	4.01%	6.10%	-	9.84%	-17.84%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	378.84 Cr	437.61 Cr	454.01 Cr	488.63 Cr	468.64 Cr
Cost of Revenue	-	192.50 Cr	230.64 Cr	237.41 Cr	252.04 Cr	244.17 Cr
Gross Profit	-	186.34 Cr	206.96 Cr	216.60 Cr	236.59 Cr	224.47 Cr
Operating Expenses	-	187.66 Cr	201.41 Cr	199.80 Cr	218.35 Cr	221.38 Cr
Operating Income	-	-1.32 Cr	5.55 Cr	16.80 Cr	18.24 Cr	3.09 Cr
EBITDA	-	19.57 Cr	36.91 Cr	39.00 Cr	40.00 Cr	20.13 Cr
Interest Expense	-	3.53 Cr	4.16 Cr	4.63 Cr	3.55 Cr	3.88 Cr
Pretax Income	-	-1.96 Cr	12.79 Cr	15.17 Cr	16.70 Cr	-3.74 Cr
Tax Provision	-	22.00 L	4.36 Cr	4.36 Cr	4.01 Cr	-66.00 L
Net Income	-	-2.18 Cr	8.43 Cr	10.81 Cr	12.69 Cr	-3.08 Cr
Diluted EPS	1.68	-0.30	-	0.75	1.76	-0.43

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	1,239.18 Cr	1,372.19 Cr	1,630.98 Cr	1,642.11 Cr
Cost of Revenue	614.57 Cr	722.75 Cr	831.47 Cr	827.08 Cr
Gross Profit	624.62 Cr	649.44 Cr	799.50 Cr	815.02 Cr
Operating Expenses	531.10 Cr	562.15 Cr	714.03 Cr	766.86 Cr
Operating Income	93.51 Cr	87.30 Cr	85.47 Cr	48.16 Cr
EBITDA	158.49 Cr	166.09 Cr	173.14 Cr	146.03 Cr
Interest Expense	3.41 Cr	4.84 Cr	11.04 Cr	13.75 Cr
Pretax Income	103.94 Cr	105.70 Cr	97.83 Cr	59.54 Cr
Tax Provision	26.46 Cr	26.49 Cr	16.16 Cr	16.56 Cr
Net Income	77.48 Cr	79.21 Cr	81.67 Cr	42.98 Cr
Diluted EPS	10.75	10.99	11.33	5.96

Compounded Sales Growth

5 Years:	9.84%
1 Year:	23.70%

Compounded Profit Growth

5 Years:	-17.84%
1 Year:	-

Stock Price Performance

1 Year:	-32.97%
6 Months:	-19.20%
3 Months:	+4.35%
1 Month:	-7.98%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	1,286.08 Cr	1,425.93 Cr	1,490.36 Cr	1,618.50 Cr
Current Assets	805.18 Cr	836.11 Cr	838.20 Cr	951.12 Cr
Cash & Equivalents	119.04 Cr	56.80 Cr	69.65 Cr	60.52 Cr
Inventory	259.40 Cr	302.04 Cr	300.71 Cr	404.71 Cr
Receivables	272.03 Cr	349.84 Cr	325.00 Cr	359.38 Cr
Total Liabilities	352.05 Cr	420.89 Cr	418.31 Cr	511.49 Cr
Current Liabilities	285.43 Cr	309.03 Cr	312.99 Cr	416.42 Cr
Long Term Debt	8.66 Cr	49.60 Cr	58.68 Cr	46.94 Cr
Total Debt	99.05 Cr	160.14 Cr	174.09 Cr	213.27 Cr
Total Equity	934.03 Cr	1,005.05 Cr	1,072.05 Cr	1,107.01 Cr
Shares Outstanding	7.21 Cr	7.21 Cr	7.21 Cr	7.21 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	4.37 Cr	6.30 Cr	152.19 Cr	28.28 Cr
Investing Cash Flow	-24.03 Cr	-122.71 Cr	-117.15 Cr	-37.16 Cr
Financing Cash Flow	-6.96 Cr	49.80 Cr	-24.28 Cr	-3.84 Cr
Capital Expenditure	-66.10 Cr	-136.58 Cr	-134.74 Cr	-72.92 Cr
Free Cash Flow	-61.73 Cr	-130.29 Cr	17.45 Cr	-44.64 Cr
Net Change in Cash	-26.62 Cr	-66.61 Cr	10.77 Cr	-12.72 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	50.4%	47.3%	49.0%	49.6%
Operating Margin %	7.5%	6.4%	5.2%	2.9%
Net Margin %	6.3%	5.8%	5.0%	2.6%
ROE %	8.3%	7.9%	7.6%	3.9%
ROCE %	9.3%	7.8%	7.3%	4.0%

Shareholding Pattern

Insiders

75.94%

Institutions

13.17%

Public Float

54.73%

Analyst View

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IFGLEXPOR · Basic Materials