IFB Industries Ltd
₹ 1,148
9.10%
26 May
- 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 ₹ 4,651 Cr.
- Current Price ₹ 1,148
- High / Low ₹ 2,025 / 883
- Stock P/E 30.2
- Book Value ₹ 246
- Dividend Yield 0.00 %
- ROCE 20.3 %
- ROE 16.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 19.2% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.7% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,758 | 2,220 | 2,657 | 2,637 | 2,801 | 3,415 | 4,195 | 4,438 | 5,092 | 5,619 | |
| 1,657 | 2,060 | 2,529 | 2,514 | 2,588 | 3,367 | 4,031 | 4,242 | 4,805 | 5,303 | |
| Operating Profit | 102 | 160 | 128 | 123 | 213 | 49 | 164 | 196 | 287 | 317 |
| OPM % | 6% | 7% | 5% | 5% | 8% | 1% | 4% | 4% | 6% | 6% |
| 13 | 16 | 32 | 14 | 22 | 28 | 23 | 32 | 35 | 19 | |
| Interest | 6 | 7 | 8 | 18 | 34 | 35 | 33 | 31 | 27 | 21 |
| Depreciation | 44 | 54 | 58 | 92 | 102 | 115 | 122 | 124 | 132 | 122 |
| Profit before tax | 65 | 115 | 94 | 27 | 99 | -74 | 32 | 73 | 163 | 192 |
| Tax % | 20% | 31% | 24% | 4% | 35% | -35% | 54% | 31% | 27% | 25% |
| 52 | 79 | 71 | 26 | 64 | -48 | 15 | 50 | 119 | 144 | |
| EPS in Rs | 13.15 | 19.98 | 18.00 | 6.76 | 15.82 | -11.89 | 3.69 | 12.43 | 29.35 | 35.43 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 10% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 151% |
| TTM: | 45% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 1% |
| 3 Years: | 11% |
| 1 Year: | -15% |
| Return on Equity | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 7% |
| 3 Years: | 13% |
| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Reserves | 428 | 507 | 577 | 605 | 655 | 607 | 626 | 676 | 801 | 954 |
| 40 | 32 | 31 | 357 | 293 | 363 | 353 | 164 | 250 | 156 | |
| 397 | 538 | 619 | 662 | 903 | 1,019 | 1,086 | 1,298 | 1,266 | 1,333 | |
| Total Liabilities | 907 | 1,118 | 1,268 | 1,665 | 1,891 | 2,030 | 2,107 | 2,180 | 2,358 | 2,484 |
| 329 | 339 | 358 | 625 | 654 | 698 | 695 | 629 | 695 | 701 | |
| CWIP | 14 | 7 | 24 | 10 | 21 | 15 | 21 | 16 | 14 | 14 |
| Investments | 54 | 93 | 27 | 153 | 260 | 229 | 186 | 263 | 254 | 313 |
| 509 | 679 | 859 | 877 | 956 | 1,088 | 1,205 | 1,271 | 1,395 | 1,456 | |
| Total Assets | 907 | 1,118 | 1,268 | 1,665 | 1,891 | 2,030 | 2,107 | 2,180 | 2,358 | 2,484 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 85 | 124 | 45 | 184 | 292 | 51 | 106 | 351 | 118 | ||
| -95 | -92 | -33 | -374 | -187 | -27 | -6 | -137 | -90 | ||
| 9 | -13 | -5 | 223 | -112 | -51 | -94 | -186 | -23 | ||
| Net Cash Flow | -2 | 20 | 6 | 33 | -7 | -28 | 6 | 28 | 5 | |
| Free Cash Flow | 21 | 86 | -4 | -39 | 200 | -22 | 40 | 286 | 12 | |
| CFO/OP | 97% | 91% | 55% | 158% | 140% | 116% | 66% | 184% | 57% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30 | 31 | 34 | 28 | 35 | 33 | 36 | 38 | 31 | 28 |
| Inventory Days | 87 | 93 | 94 | 94 | 108 | 102 | 82 | 75 | 79 | 68 |
| Days Payable | 97 | 112 | 107 | 116 | 153 | 144 | 118 | 135 | 111 | 106 |
| Cash Conversion Cycle | 19 | 11 | 22 | 6 | -10 | -8 | -1 | -22 | -1 | -10 |
| Working Capital Days | 9 | 14 | 18 | 5 | -9 | -14 | -7 | -11 | -2 | 19 |
| ROCE % | 20% | 13% | 5% | 13% | -4% | 6% | 10% | 17% | 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
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 11h
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Compliances-Reg.24(A)-Annual Secretarial Compliance
14h - IFB Industries filed its Secretarial Compliance Report for FY ended 31 March 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14h - Copies of the newspaper clippings of the advertisement published on the subject matter on 26th May, 2026 in following newspapers: - 'Business Standard'- English. 'Aajkaal' …
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Board appointed Mani & Co. as cost auditor for FY2026-27 and reconstituted two committees.
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Disclosure Under Regulation 33 Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015.
1d - IFB Industries adopted audited standalone and consolidated results for year ended 31 March 2026; auditors issued unmodified opinion.
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 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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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.