IFGL Refractories Ltd
- Market Cap ₹ 1,792 Cr.
- Current Price ₹ 247
- High / Low ₹ 340 / 163
- Stock P/E 61.5
- Book Value ₹ 154
- Dividend Yield 1.41 %
- ROCE 5.71 %
- ROE 3.94 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 40.5%
Cons
- Company has a low return on equity of 6.58% 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.
Peer comparison
Industrials Capital Goods Industrial Products Electrodes & Refractories
Part of BSE SmallCap BSE Allcap BSE Industrials
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 766 | 835 | 950 | 917 | 1,022 | 1,260 | 1,386 | 1,639 | 1,653 | 1,692 | |
| 667 | 729 | 841 | 825 | 865 | 1,117 | 1,233 | 1,485 | 1,524 | 1,574 | |
| Operating Profit | 99 | 106 | 109 | 92 | 157 | 143 | 153 | 155 | 129 | 119 | 
| OPM % | 13% | 13% | 12% | 10% | 15% | 11% | 11% | 9% | 8% | 7% | 
| 4 | 4 | 4 | -10 | 19 | 16 | 13 | 18 | 17 | 13 | |
| Interest | 5 | 4 | 4 | 4 | 3 | 3 | 5 | 11 | 14 | 16 | 
| Depreciation | 44 | 44 | 46 | 48 | 49 | 51 | 56 | 64 | 73 | 75 | 
| Profit before tax | 55 | 63 | 64 | 30 | 124 | 104 | 106 | 98 | 60 | 41 | 
| Tax % | 8% | 25% | 21% | 35% | 47% | 25% | 25% | 17% | 28% | |
| 50 | 47 | 50 | 19 | 66 | 77 | 79 | 82 | 43 | 29 | |
| EPS in Rs | 86.16 | 6.54 | 7.00 | 2.70 | 9.10 | 10.75 | 10.99 | 11.33 | 5.96 | 4.05 | 
| Dividend Payout % | 1% | 15% | 18% | 46% | 55% | 33% | 32% | 31% | 59% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 13% | 
| 3 Years: | 9% | 
| TTM: | 4% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 7% | 
| 3 Years: | -18% | 
| TTM: | -62% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 28% | 
| 3 Years: | 26% | 
| 1 Year: | -13% | 
| Return on Equity | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 7% | 
| 3 Years: | 7% | 
| Last Year: | 4% | 
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 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 
| Reserves | 650 | 716 | 759 | 773 | 854 | 898 | 969 | 1,036 | 1,071 | 
| 84 | 112 | 89 | 65 | 64 | 99 | 160 | 174 | 213 | |
| 158 | 134 | 135 | 150 | 230 | 253 | 261 | 244 | 298 | |
| Total Liabilities | 894 | 999 | 1,019 | 1,024 | 1,184 | 1,286 | 1,426 | 1,490 | 1,618 | 
| 471 | 461 | 454 | 440 | 416 | 422 | 500 | 517 | 593 | |
| CWIP | 2 | 8 | 6 | 7 | 22 | 25 | 46 | 104 | 27 | 
| Investments | 12 | 13 | 46 | 94 | 128 | 135 | 132 | 126 | 105 | 
| 409 | 516 | 513 | 483 | 618 | 704 | 748 | 743 | 893 | |
| Total Assets | 894 | 999 | 1,019 | 1,024 | 1,184 | 1,286 | 1,426 | 1,490 | 1,618 | 
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 | |
|---|---|---|---|---|---|---|---|---|---|
| 28 | 41 | 109 | 150 | 139 | 4 | 6 | 152 | 28 | |
| -9 | -40 | -70 | -50 | -97 | -26 | -118 | -115 | -34 | |
| -4 | 18 | -37 | -66 | -5 | -7 | 50 | -24 | -4 | |
| Net Cash Flow | 14 | 19 | 3 | 33 | 38 | -29 | -62 | 13 | -9 | 
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 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 109 | 124 | 88 | 84 | 82 | 79 | 92 | 72 | 79 | 
| Inventory Days | 94 | 94 | 120 | 113 | 129 | 154 | 153 | 132 | 179 | 
| Days Payable | 118 | 109 | 95 | 99 | 119 | 111 | 94 | 79 | 104 | 
| Cash Conversion Cycle | 85 | 110 | 112 | 98 | 91 | 122 | 151 | 126 | 154 | 
| Working Capital Days | 68 | 83 | 75 | 72 | 68 | 80 | 94 | 75 | 83 | 
| ROCE % | 8% | 8% | 6% | 14% | 11% | 10% | 9% | 6% | 
Documents
Announcements
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          Transfer Of Equity Shares Of The Company To Demat Account Of IEPF Authority Following Provisions Of Section 124(6) Of The Companies Act, 2013 Read With Rule 6 Of The Investor Education And Protection Fund Authority (Accounting, Audit, Transfer And Refund) Rules, 2016
          
            27 Oct - 47,738 shares (223 holders) transferred to IEPF on 27 Oct 2025; unpaid dividends since FY2017-18.
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          Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 Read With SEBI Master Circular Dated 11Th November, 2024 Bearing No. SEBI/HO/CFD/Pod2/CIR/P/0155
          
            22 Oct - CFC Finlease assigned unsolicited ESG rating '60' to IFGL; company notified via BSE on 21 Oct 2025.
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          Announcement under Regulation 30 (LODR)-Change in Management
          
            14 Oct - Manoranjan Beura appointed Chief Sales Officer on 14 Oct 2025; 20+ years' sales, MBA (IIM Vizag).
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          Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
          
            9 Oct - Confirmation of compliance of Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended 30th September, 2025 received from our Registrar …
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          Announcement under Regulation 30 (LODR)-Change in Management
          
            7 Oct - CHRO Navin Kumar Das resigned; effective close of business 6 October 2025; due to personal reasons.
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 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 2012
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      Financial Year 2011
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Concalls
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      Aug 2025Transcript PPT
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      May 2023TranscriptNotesPPT
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      Nov 2021Transcript PPT
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      Aug 2021TranscriptNotesPPT
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      Nov 2020Transcript PPT
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      Sep 2020Transcript PPT
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      Jul 2020TranscriptNotesPPT
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      Nov 2019Transcript PPT
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      Aug 2019TranscriptNotesPPT
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      Nov 2018Transcript PPT
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      Aug 2018Transcript PPT
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      Jun 2018Transcript PPT
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      Feb 2018Transcript PPT
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      Dec 2017TranscriptNotesPPT
Product Portfolio
The Co.'s products include Slide Gate Systems, Purging Systems, Ladle Lining & Ladle Refractories, Tundish Furniture & Tundish Refractories, and others. [1]