IFB Industries Ltd
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] It is engaged in the business of manufacturing diverse parts and accessories for motor vehicles etc. and home appliances products. [2]
- Market Cap ₹ 7,249 Cr.
- Current Price ₹ 1,789
- High / Low ₹ 2,035 / 1,054
- Stock P/E 55.0
- 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 7.76 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.
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 | 5,149 | |
| 975 | 1,174 | 1,431 | 1,636 | 1,991 | 2,412 | 2,431 | 2,533 | 3,295 | 3,943 | 4,101 | 4,650 | 4,849 | |
| Operating Profit | 46 | 87 | 70 | 104 | 161 | 126 | 121 | 199 | 44 | 161 | 211 | 293 | 300 |
| OPM % | 4% | 7% | 5% | 6% | 7% | 5% | 5% | 7% | 1% | 4% | 5% | 6% | 6% |
| 8 | 15 | 13 | 13 | 15 | 32 | 14 | 32 | 28 | 26 | 32 | 35 | 32 | |
| Interest | 2 | 3 | 3 | 5 | 6 | 7 | 16 | 33 | 34 | 33 | 30 | 27 | 26 |
| Depreciation | 23 | 41 | 45 | 44 | 51 | 55 | 89 | 100 | 113 | 119 | 122 | 129 | 129 |
| Profit before tax | 29 | 59 | 35 | 68 | 119 | 96 | 30 | 97 | -77 | 34 | 90 | 171 | 176 |
| 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 | 132 | |
| 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 | 32.52 |
| 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: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 37% |
| 3 Years: | 65% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 19% |
| 3 Years: | 18% |
| 1 Year: | 12% |
| 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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
12 Nov - In furtherance to our letter dated 7th November, 2025 regarding the audio recording of the investor's earnings call for the quarter and half year ended …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7 Nov - Audio recording of 7 Nov 2025 investor call for Q2/H1 results ended 30 Sep 2025 available online.
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Intimation Of Investors Call For The Quarter And Half Year Ended 30Th September, 2025. This Is To Inform That The Conference Call With Investors/ Analysts Have Been Scheduled On 7Th November, 2025 At 4.00 P.M. (IST) To Discuss Un-Audited Financial Results For The Quarter And Half Year Ended 30Th September 2025 Of The Company.
4 Nov - Conference call on Nov 7, 2025 to discuss Q2/H1 FY26 unaudited results of IFB.
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Announcement under Regulation 30 (LODR)-Investor Presentation
1 Nov - Investor Presentation for Quarter and six months ended 30th September, 2025. Also please note that the Investor Conference call shall be held tentatively on 7th …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Nov - Copies of the newspaper clippings of the advertisement published on the subject matter on 31th October, 2025 in following newspapers: - 'Business Standard'- English. 'Aajkal' …
Annual reports
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Financial Year 2025
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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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Nov 2025Transcript PPT
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Nov 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
Business Segments 9M FY25
1) Home Appliances (80%): [1] The company offers domestic washing machines, industrial washing systems (including dry cleaning and other finishing equipment like ironers, etc), microwave ovens, domestic and industrial dishwashers, clothes dryers, modular kitchens, kitchen appliances (hobs, chimneys, and built-in ovens), air conditioners (AC) and also a range of service products. The segment revenue grew by 13% YoY in 9M FY25, driven by higher sales of ACs. [2]