IFB Industries Ltd
₹ 1,042
0.70%
10 Mar
- close price
About
IFB Industries Limited originally known as Indian Fine Blanks Limited started its operations in India in 1974 in collaboration with Heinrich Schmid AG of Switzerland. [1] The company operates two businesses--manufacturing of consumer durables and producing fine blank components (part of engineering segment) and goods. It manufactures fine blanking components for two wheelers, four wheelers, heavy vehicles and electrical OEMs. The company has a diversified product portfolio, comprising front- and top-load washing machines, dryers, ACs, microwave ovens, dishwashers, modular kitchens and chimneys.[2]
Key Points
- Market Cap ₹ 4,228 Cr.
- Current Price ₹ 1,042
- High / Low ₹ 2,025 / 1,024
- Stock P/E 32.1
- Book Value ₹ 231
- Dividend Yield 0.00 %
- ROCE 19.8 %
- ROE 16.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 37.3% CAGR over last 5 years
Cons
- Stock is trading at 4.52 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.1% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,021 | 1,262 | 1,501 | 1,741 | 2,152 | 2,538 | 2,551 | 2,731 | 3,339 | 4,104 | 4,312 | 4,942 | 5,297 | |
| 975 | 1,174 | 1,431 | 1,636 | 1,991 | 2,412 | 2,431 | 2,533 | 3,295 | 3,943 | 4,101 | 4,650 | 5,008 | |
| Operating Profit | 46 | 87 | 70 | 104 | 161 | 126 | 121 | 199 | 44 | 161 | 211 | 293 | 288 |
| OPM % | 4% | 7% | 5% | 6% | 7% | 5% | 5% | 7% | 1% | 4% | 5% | 6% | 5% |
| 8 | 15 | 13 | 13 | 15 | 32 | 14 | 32 | 28 | 26 | 32 | 35 | 21 | |
| Interest | 2 | 3 | 3 | 5 | 6 | 7 | 16 | 33 | 34 | 33 | 30 | 27 | 23 |
| Depreciation | 23 | 41 | 45 | 44 | 51 | 55 | 89 | 100 | 113 | 119 | 122 | 129 | 123 |
| Profit before tax | 29 | 59 | 35 | 68 | 119 | 96 | 30 | 97 | -77 | 34 | 90 | 171 | 163 |
| Tax % | 26% | 16% | 11% | 19% | 30% | 23% | 6% | 36% | -33% | 50% | 24% | 25% | |
| 22 | 50 | 31 | 55 | 83 | 74 | 28 | 62 | -51 | 17 | 69 | 129 | 122 | |
| EPS in Rs | 5.33 | 12.27 | 7.74 | 13.61 | 20.55 | 18.25 | 6.91 | 15.36 | -12.64 | 4.25 | 17.00 | 31.79 | 30.09 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 14% |
| 3 Years: | 14% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 37% |
| 3 Years: | 65% |
| TTM: | 9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | -2% |
| 3 Years: | 7% |
| 1 Year: | -6% |
| Return on Equity | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 7% |
| 3 Years: | 10% |
| Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Reserves | 296 | 346 | 377 | 430 | 509 | 579 | 606 | 646 | 596 | 615 | 685 | 817 | 893 |
| 48 | 34 | 16 | 28 | 22 | 14 | 344 | 285 | 357 | 348 | 162 | 249 | 164 | |
| 256 | 350 | 357 | 381 | 510 | 569 | 622 | 884 | 1,004 | 1,067 | 1,275 | 1,243 | 1,327 | |
| Total Liabilities | 641 | 771 | 791 | 881 | 1,082 | 1,204 | 1,614 | 1,857 | 1,999 | 2,072 | 2,163 | 2,350 | 2,426 |
| 226 | 273 | 274 | 305 | 294 | 313 | 570 | 626 | 672 | 669 | 606 | 671 | 651 | |
| CWIP | 15 | 6 | 24 | 14 | 7 | 22 | 8 | 20 | 13 | 20 | 15 | 12 | 22 |
| Investments | 37 | 52 | 17 | 63 | 126 | 61 | 186 | 282 | 251 | 210 | 311 | 321 | 347 |
| 364 | 441 | 477 | 499 | 655 | 808 | 849 | 928 | 1,062 | 1,172 | 1,230 | 1,346 | 1,405 | |
| Total Assets | 641 | 771 | 791 | 881 | 1,082 | 1,204 | 1,614 | 1,857 | 1,999 | 2,072 | 2,163 | 2,350 | 2,426 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21 | 82 | 49 | 93 | 118 | 50 | 165 | 298 | 45 | 107 | 349 | 103 | |
| -36 | -90 | -21 | -104 | -91 | -31 | -362 | -186 | -26 | -7 | -140 | -89 | |
| 37 | -15 | -21 | 9 | -10 | -10 | 228 | -119 | -50 | -93 | -183 | -22 | |
| Net Cash Flow | 21 | -23 | 7 | -2 | 17 | 8 | 31 | -6 | -31 | 7 | 27 | -8 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 26 | 26 | 28 | 29 | 29 | 30 | 26 | 33 | 32 | 35 | 37 | 30 |
| Inventory Days | 97 | 115 | 91 | 85 | 94 | 97 | 94 | 110 | 104 | 83 | 77 | 81 |
| Days Payable | 88 | 116 | 96 | 95 | 111 | 102 | 111 | 153 | 145 | 119 | 137 | 113 |
| Cash Conversion Cycle | 34 | 24 | 23 | 19 | 12 | 25 | 10 | -10 | -9 | -1 | -23 | -1 |
| Working Capital Days | 0 | 4 | 11 | 10 | 16 | 20 | 9 | -10 | -15 | -8 | -12 | -3 |
| ROCE % | 9% | 13% | 7% | 15% | 22% | 14% | 5% | 13% | -4% | 7% | 13% | 20% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Number of Service Franchises Number |
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| Product Revenue - Air Conditioners Rs. Crore |
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| Product Revenue - Washing Machines Rs. Crore |
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| Number of IFB Points (Exclusive Stores) Number |
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| Product Revenue - Fine Blanked Components Rs. Crore |
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| Air Conditioners - Total Sales Volume (Brand + OEM) Units |
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| Market Share - Front Load Washing Machines (High-End) % |
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| Market Share - Microwave Ovens (High-End Segment) % |
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| Refrigerator Production Run-rate (IFB Refrigeration Ltd) Units per Month |
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| Washing Machines - Brand Sales Volume (IFB Brand) Units |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
20 Feb - Copies of the newspaper advertisement published on 20th February, 2026 in the in newspapers namely -''Business Standard'' - English, and in 'Aajkal' -Bengali, informing the …
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
10 Feb - In furtherance to our letter dated 4th February, 2026 regarding the audio recording of the investor's earnings call for the quarter and nine months ended …
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Announcement under Regulation 30 (LODR)-Cessation
10 Feb - Biswadip Gupta's term ended Feb 9, 2026; Tarun Kumar Daga appointed independent director Feb 10, 2026.
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Announcement under Regulation 30 (LODR)-Change in Directorate
10 Feb - Independent director Biswadip Gupta's term ended Feb 9, 2026; Tarun Kumar Daga appointed Feb 10, 2026 for two years.
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Announcement under Regulation 30 (LODR)-Change in Management
10 Feb - Biswadip Gupta's term ended Feb 9, 2026; Tarun Kumar Daga appointed independent director from Feb 10, 2026 for two years.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025Transcript PPT
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Nov 2024TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Aug 2024Transcript PPT
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Jun 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Aug 2023TranscriptAI SummaryPPT
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Jun 2023TranscriptPPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jun 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Aug 2020TranscriptAI SummaryPPT
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Jul 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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Jun 2019TranscriptAI SummaryPPT
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Feb 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
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Jun 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
Material Linked Global Cos.[1]
Global Automotive and Appliances Pte Ltd (100% subsidiary), Thai Automotive and Appliances Ltd (subsidiary of GAAL) and IFB Refrigeration Ltd (associate), have significant managerial, operational and financial linkages.