IFB Industries Ltd

IFB Industries Ltd

₹ 1,637 1.40%
12 Jul - 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] It is engaged in the business of manufacturing diverse parts and accessories for motor vehicles etc. and home appliances products. [2]

Key Points

Products
Home Appliances Division (82% of revenue) - covers domestic appliance and industrial application categories including washing machines, domestic and industrial dishwashers, etc. In FY23, company launched washer dryers, 9kg & 10kg machines. [1]
Engineering Division (17% revenue contribution) includes a product range of fine-blanked components, tools, and related machine tools like straighteners, strip loaders, etc. [2] It mainly caters to the automobile sector (2 wheelers, 4-wheelers, and commercial vehicles). [3]
Modular Kitchen: The company is at a nascent stage in this segment with three stores in Goa, three stores in Bangalore, and one store in Kolkata. The company has launched another store in Mumbai in FY23.[4]

  • Market Cap 6,632 Cr.
  • Current Price 1,637
  • High / Low 1,755 / 818
  • Stock P/E 96.4
  • Book Value 179
  • Dividend Yield 0.00 %
  • ROCE 12.8 %
  • ROE 9.95 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 9.13 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 1.74% over last 3 years.
  • Company's cost of borrowing seems high

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
804 552 966 933 884 1,045 1,097 977 985 1,055 1,068 1,133 1,055
753 586 897 907 896 1,011 1,028 948 957 1,022 999 1,070 1,012
Operating Profit 51 -34 69 26 -11 34 70 29 28 33 69 63 43
OPM % 6% -6% 7% 3% -1% 3% 6% 3% 3% 3% 6% 6% 4%
7 4 5 5 4 4 4 4 9 8 6 7 11
Interest 5 7 8 8 8 7 7 7 8 7 7 7 7
Depreciation 26 26 30 29 29 28 29 30 33 30 30 31 31
Profit before tax 27 -63 36 -6 -44 3 38 -3 -3 4 38 32 16
Tax % 81% 32% 34% 34% 35% 36% 37% 60% -125% 26% 25% 27% 15%
5 -43 24 -4 -29 2 24 -1 -8 3 29 24 14
EPS in Rs 1.31 -10.50 5.83 -0.99 -7.04 0.49 5.97 -0.34 -1.86 0.65 7.08 5.85 3.42
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
916 1,021 1,262 1,501 1,741 2,152 2,538 2,551 2,731 3,339 4,104 4,312
864 975 1,174 1,431 1,636 1,991 2,412 2,431 2,533 3,295 3,943 4,091
Operating Profit 52 46 87 70 104 161 126 121 199 44 161 221
OPM % 6% 4% 7% 5% 6% 7% 5% 5% 7% 1% 4% 5%
12 8 15 13 13 15 32 14 32 28 26 22
Interest 2 2 3 3 5 6 7 16 33 34 33 30
Depreciation 18 23 41 45 44 51 55 89 100 113 119 122
Profit before tax 43 29 59 35 68 119 96 30 97 -77 34 90
Tax % 28% 26% 16% 11% 19% 30% 23% 6% 36% 33% 50% 24%
31 22 50 31 55 83 74 28 62 -51 17 69
EPS in Rs 7.76 5.33 12.27 7.74 13.61 20.55 18.25 6.91 15.36 -12.64 4.25 17.00
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 16%
5 Years: 11%
3 Years: 16%
TTM: 5%
Compounded Profit Growth
10 Years: 13%
5 Years: 3%
3 Years: 3%
TTM: 299%
Stock Price CAGR
10 Years: 28%
5 Years: 17%
3 Years: 16%
1 Year: 94%
Return on Equity
10 Years: 7%
5 Years: 4%
3 Years: 2%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 41 41 41 41 41 41 41 41 41 41 41 41
Reserves 274 296 346 377 430 509 579 606 646 596 615 685
10 48 34 16 28 22 14 344 285 357 348 162
213 256 350 357 381 510 569 622 884 1,004 1,067 1,275
Total Liabilities 538 641 771 791 881 1,082 1,204 1,614 1,857 1,999 2,072 2,163
187 226 273 274 305 294 313 570 626 672 669 606
CWIP 8 15 6 24 14 7 22 8 20 13 20 15
Investments 57 37 52 17 63 126 61 186 282 251 210 311
287 364 441 477 499 655 808 849 928 1,062 1,172 1,230
Total Assets 538 641 771 791 881 1,082 1,204 1,614 1,857 1,999 2,072 2,163

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
33 21 82 49 93 118 50 165 298 45 107 349
-93 -36 -90 -21 -104 -91 -31 -362 -186 -26 -7 -140
52 37 -15 -21 9 -10 -10 228 -119 -50 -93 -183
Net Cash Flow -9 21 -23 7 -2 17 8 31 -6 -31 7 27

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 19 26 26 28 29 29 30 26 33 32 35 37
Inventory Days 90 97 115 91 85 94 97 94 110 104 83 77
Days Payable 81 88 116 96 95 111 102 111 153 145 119 138
Cash Conversion Cycle 27 34 24 23 19 12 25 10 -10 -9 -1 -25
Working Capital Days 15 17 14 15 11 16 20 15 1 1 7 -6
ROCE % 15% 9% 13% 7% 15% 22% 14% 5% 13% -4% 7% 13%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96%
7.74% 7.70% 7.43% 6.99% 0.61% 0.62% 0.64% 0.63% 1.84% 0.65% 0.70% 0.75%
1.99% 2.09% 3.32% 4.03% 4.14% 3.96% 4.23% 4.18% 4.18% 4.43% 3.57% 6.59%
15.30% 15.25% 14.29% 14.01% 20.29% 20.46% 20.16% 20.22% 19.02% 19.96% 20.77% 17.71%
No. of Shareholders 27,91826,80924,37726,13326,13824,57125,31725,87526,82526,99126,73126,080

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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