IFB Agro Industries Ltd

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

  • Market Cap: 270.32 Cr.
  • Current Price: 288.50
  • 52 weeks High / Low 478.35 / 144.00
  • Book Value: 413.63
  • Stock P/E: 14.50
  • Dividend Yield: 0.00 %
  • ROCE: 10.63 %
  • ROE: 9.25 %
  • Sales Growth (3Yrs): 14.18 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Edit ratios
Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.70 times its book value
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
Company has a low return on equity of 10.14% for last 3 years.
Earnings include an other income of Rs.11.73 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer comparison Sector: Alcoholic Beverages // Industry: Breweries & Distilleries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
293.51 188.68 179.30 273.54 271.49 205.69 173.85 217.43 298.42 251.46 195.45 94.93
273.64 176.25 166.40 254.63 250.96 197.98 174.20 212.09 277.82 247.06 199.49 96.76
Operating Profit 19.87 12.43 12.90 18.91 20.53 7.71 -0.35 5.34 20.60 4.40 -4.04 -1.83
OPM % 6.77% 6.59% 7.19% 6.91% 7.56% 3.75% -0.20% 2.46% 6.90% 1.75% -2.07% -1.93%
Other Income 1.72 1.41 4.39 2.66 1.39 4.92 3.81 3.40 2.18 2.87 2.78 3.90
Interest 0.98 0.06 1.09 0.86 0.96 0.65 0.48 0.30 0.82 0.26 0.40 0.02
Depreciation 5.14 5.37 5.95 4.47 4.61 4.83 4.78 4.29 4.41 4.51 4.49 3.62
Profit before tax 15.47 8.41 10.25 16.24 16.35 7.15 -1.80 4.15 17.55 2.50 -6.15 -1.57
Tax % 25.73% 36.74% 26.93% 27.22% 29.60% 44.20% 427.22% 18.31% 17.72% -147.20% 91.22% 9.55%
Net Profit 11.48 5.32 7.49 11.82 11.51 3.99 5.88 3.39 14.44 6.17 -0.54 -1.43
EPS in Rs 12.26 5.68 8.00 12.62 12.29 4.26 6.28 3.62 15.42 6.59 -0.58 -1.52
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
198 276 271 450 585 462 507 584 621 840 889 925 840
185 256 278 415 536 415 462 555 569 789 831 878 821
Operating Profit 13 20 -7 35 49 48 45 30 52 51 58 47 19
OPM % 7% 7% -3% 8% 8% 10% 9% 5% 8% 6% 7% 5% 2%
Other Income 5 8 24 1 2 3 25 15 7 12 10 13 12
Interest 1 2 2 2 0 0 0 0 1 2 3 3 2
Depreciation 5 7 9 8 13 11 9 19 22 20 21 19 17
Profit before tax 11 20 6 26 38 39 60 26 36 41 44 38 12
Tax % 28% 34% 32% 32% 30% 33% 31% 40% 19% 21% 28% 12%
Net Profit 8 13 4 18 27 26 42 16 29 33 32 33 19
EPS in Rs 10.21 16.29 5.52 22.25 33.15 29.09 44.49 16.63 31.31 34.89 33.70 35.45 19.91
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.85%
5 Years:12.78%
3 Years:14.18%
TTM:-3.25%
Compounded Profit Growth
10 Years:9.83%
5 Years:5.51%
3 Years:7.14%
TTM:-24.75%
Stock Price CAGR
10 Years:12.07%
5 Years:-4.43%
3 Years:-10.57%
1 Year:-13.76%
Return on Equity
10 Years:12.10%
5 Years:9.84%
3 Years:10.14%
Last Year:9.25%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
8 8 8 8 8 9 9 9 9 9 9 9 9
Reserves 42 56 61 79 105 149 197 212 242 294 335 365 378
Borrowings 31 12 31 2 0 0 4 0 50 43 31 20 1
30 41 46 49 51 28 46 54 66 68 81 66 59
Total Liabilities 110 118 147 138 164 186 256 276 367 414 457 461 447
51 71 67 71 78 72 97 118 145 141 135 135 123
CWIP 2 1 1 0 1 2 21 1 0 2 6 2 4
Investments 3 3 3 3 3 3 8 3 91 146 135 118 106
53 42 76 64 83 109 130 154 131 126 181 206 214
Total Assets 110 118 147 138 164 186 256 276 367 414 457 461 447

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
17 26 -1 34 26 20 42 29 36 49 7 46
-10 -24 -4 -11 -18 -6 -49 -16 -129 -47 13 -0
10 -19 17 -29 -2 18 11 -4 49 -8 -15 -15
Net Cash Flow 17 -17 12 -6 5 31 4 9 -44 -5 5 30

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 18% 28% 9% 30% 37% 29% 20% 11% 13% 13% 13% 11%
Debtor Days 19 13 14 9 12 5 7 17 23 18 26 21
Inventory Turnover 6.84 10.20 7.75 9.08 9.52 9.93 14.44 14.07 10.73 14.02 12.74 11.06

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 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
0.27 0.27 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16
1.12 1.12 1.13 1.12 1.12 1.12 1.13 1.14 1.16 1.15 1.15 1.12
33.61 33.61 33.71 33.72 33.72 33.72 33.71 33.70 33.68 33.69 33.69 33.72