IFB Agro Industries Ltd

About [ edit ]

IFB Agro Industries is engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as processed marine foods both for domestic and export markets.

  • Market Cap 398 Cr.
  • Current Price 425
  • High / Low 625 / 144
  • Stock P/E 12.4
  • Book Value 435
  • Dividend Yield 0.00 %
  • ROCE 5.10 %
  • ROE 6.19 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.98 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.51% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 8.30% for last 3 years.
  • Earnings include an other income of Rs.15.75 Cr.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
179 274 271 206 174 217 298 251 195 95 208 200
166 255 251 198 174 212 278 247 199 97 187 180
Operating Profit 13 19 21 8 -0 5 21 4 -4 -2 20 21
OPM % 7% 7% 8% 4% -0% 2% 7% 2% -2% -2% 10% 10%
Other Income 4 3 1 5 4 3 2 3 3 4 3 6
Interest 1 1 1 1 0 0 1 0 0 0 0 0
Depreciation 6 4 5 5 5 4 4 5 4 4 4 4
Profit before tax 10 16 16 7 -2 4 18 2 -6 -2 20 23
Tax % 27% 27% 30% 44% 427% 18% 18% -147% 91% 10% 14% 26%
Net Profit 7 12 12 4 6 3 14 6 -1 -1 17 17
EPS in Rs 8.00 12.62 12.29 4.26 6.28 3.62 15.42 6.59 -0.58 -1.53 18.07 18.23
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
276 271 450 585 462 507 584 621 840 889 925 963 699
256 278 415 536 415 462 555 569 789 831 878 936 663
Operating Profit 20 -7 35 49 48 45 30 52 51 58 47 26 35
OPM % 7% -3% 8% 8% 10% 9% 5% 8% 6% 7% 5% 3% 5%
Other Income 8 24 1 2 3 25 15 7 12 10 13 11 16
Interest 2 2 2 0 0 0 0 1 2 3 3 2 0
Depreciation 7 9 8 13 11 9 19 22 20 21 19 18 16
Profit before tax 20 6 26 38 39 60 26 36 41 44 38 18 35
Tax % 34% 32% 32% 30% 33% 31% 40% 19% 21% 28% 12% -30%
Net Profit 13 4 18 27 26 42 16 29 33 32 33 23 32
EPS in Rs 16.30 5.52 22.26 33.16 29.09 44.50 16.62 31.31 34.89 33.70 35.45 25.06 34.19
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:14%
5 Years:11%
3 Years:5%
TTM:-26%
Compounded Profit Growth
10 Years:18%
5 Years:10%
3 Years:-10%
TTM:7%
Stock Price CAGR
10 Years:21%
5 Years:1%
3 Years:-9%
1 Year:64%
Return on Equity
10 Years:11%
5 Years:9%
3 Years:8%
Last Year:6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
8 8 8 8 9 9 9 9 9 9 9 9 9
Reserves 56 61 79 105 149 197 212 242 294 335 365 378 398
Borrowings 12 31 2 0 0 4 0 50 43 31 20 1 1
41 46 49 51 28 46 54 66 68 81 66 59 60
Total Liabilities 118 147 138 164 186 256 276 367 414 457 461 447 468
71 67 71 78 72 97 118 145 141 135 135 123 118
CWIP 1 1 0 1 2 21 1 0 2 6 2 4 3
Investments 3 3 3 3 3 8 3 91 146 135 118 106 108
42 76 64 83 109 130 154 131 126 181 206 214 240
Total Assets 118 147 138 164 186 256 276 367 414 457 461 447 468

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
26 -1 34 26 20 42 29 36 49 7 46 1
-24 -4 -11 -18 -6 -49 -16 -129 -47 13 -0 -6
-19 17 -29 -2 18 11 -4 49 -8 -15 -15 -22
Net Cash Flow -17 12 -6 5 31 4 9 -44 -5 5 30 -27

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 28% 9% 30% 37% 29% 20% 11% 13% 13% 13% 11% 5%
Debtor Days 13 14 9 12 5 7 17 23 18 26 21 25
Inventory Turnover 10.20 7.75 9.08 9.52 9.93 14.44 14.07 10.73 14.02 12.74 11.06 9.78

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
65.00 65.00 65.00 65.00 65.00 65.00 65.00 65.00 65.00 65.00 65.00 65.00
0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.00
1.13 1.12 1.12 1.12 1.13 1.14 1.16 1.15 1.15 1.12 1.12 1.28
33.71 33.72 33.72 33.72 33.71 33.70 33.68 33.69 33.69 33.72 33.72 33.72

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