IFGL Refractories Ltd

About

IFGL Refractories is primarily engaged in the business of manufacturing, trading and selling of Refractory items and its related equipment and accessories used in Steel plants.

  • Market Cap 1,150 Cr.
  • Current Price 319
  • High / Low 439 / 138
  • Stock P/E 24.8
  • Book Value 155
  • Dividend Yield 1.25 %
  • ROCE 18.1 %
  • ROE 8.36 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 46.93% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 48.47%

Cons

  • Company has a low return on equity of 6.28% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
108 121 132 142 119 121 116 128 167 179 175 160
88 106 115 121 104 103 100 104 131 138 140 135
Operating Profit 20 15 17 21 15 19 16 25 36 41 35 25
OPM % 18% 13% 13% 15% 12% 16% 14% 19% 21% 23% 20% 16%
Other Income 1 1 1 1 3 2 2 1 1 2 2 3
Interest 1 1 1 1 1 1 1 1 1 0 1 1
Depreciation 10 10 10 10 10 10 10 10 10 9 10 9
Profit before tax 10 6 7 11 7 10 7 16 26 33 26 18
Tax % 26% 34% -3% 25% -4% 29% 8% 25% 25% 26% 141% 24%
Net Profit 7 4 8 9 8 7 6 12 19 25 -11 13
EPS in Rs 2.04 1.02 2.09 2.38 2.11 2.02 1.74 3.31 5.31 6.84 -3.03 3.72

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
47 372 443 489 499 649 681
35 321 369 416 427 510 545
Operating Profit 11 51 75 73 72 139 136
OPM % 25% 14% 17% 15% 14% 21% 20%
Other Income 0 3 2 3 8 6 8
Interest 2 4 5 5 4 4 2
Depreciation 3 37 38 39 39 39 39
Profit before tax 7 13 34 33 36 101 103
Tax % 0% -45% 33% 20% 17% 56%
Net Profit 7 18 23 26 30 45 46
EPS in Rs 30.32 62.28 6.27 7.20 8.25 12.44 12.84
Dividend Payout % 0% 3% 32% 35% 30% 80%
Compounded Sales Growth
10 Years:%
5 Years:69%
3 Years:14%
TTM:40%
Compounded Profit Growth
10 Years:%
5 Years:47%
3 Years:26%
TTM:40%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:6%
1 Year:117%
Return on Equity
10 Years:%
5 Years:6%
3 Years:6%
Last Year:8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2 36 36 36 36 36
Reserves 24 439 453 470 478 523
Borrowings 23 71 90 67 41 46
9 97 75 68 82 147
Total Liabilities 58 610 654 641 637 752
31 304 277 261 257 227
CWIP 0 1 3 6 4 18
Investments 0 69 69 102 150 184
27 236 305 272 226 323
Total Assets 58 610 654 641 637 752

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
11 -7 10 91 119 91
-2 5 -19 -56 -50 -101
-9 3 9 -35 -62 3
Net Cash Flow 0 1 0 -1 7 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 148 152 170 105 92 88
Inventory Days 90 88 80 126 105 121
Days Payable 167 115 110 89 89 102
Cash Conversion Cycle 72 124 141 142 108 107
Working Capital Days 120 137 160 125 92 87
ROCE % 6% 7% 6% 6% 18%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
72.44 72.43 72.43 72.43 72.43 72.43 72.43 72.43 72.43 72.43 72.43 72.43
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.04 0.01
14.93 16.21 16.52 16.60 16.67 16.67 16.67 16.68 16.68 13.17 12.12 11.00
12.64 11.35 11.05 10.97 10.90 10.90 10.90 10.88 10.89 14.39 15.40 16.55

Documents