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 1,128 Cr.
  • Current Price 313
  • High / Low 439 / 138
  • Stock P/E 15.4
  • Book Value 247
  • Dividend Yield 1.28 %
  • ROCE 14.0 %
  • ROE 7.74 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 39.70%

Cons

  • Company has a low return on equity of 6.05% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
219 235 251 255 223 218 222 203 246 289 284 275
189 213 226 226 201 196 202 180 207 240 239 242
Operating Profit 31 23 26 29 22 21 20 23 39 49 44 33
OPM % 14% 10% 10% 11% 10% 10% 9% 11% 16% 17% 16% 12%
Other Income 1 1 1 2 4 2 -17 3 2 11 4 3
Interest 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 11 12 12 12 12 12 14 12 12 12 12 12
Profit before tax 19 11 14 18 14 11 -12 14 28 47 35 23
Tax % 26% 25% 8% 23% 9% 33% -13% 26% 26% 21% 107% 22%
Net Profit 14 8 13 14 13 7 -14 10 21 37 -3 18
EPS in Rs 3.81 2.28 3.62 3.76 3.48 2.02 -3.87 2.83 5.73 10.34 -0.70 4.96

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
766 835 950 917 1,022 1,093
667 729 841 825 865 929
Operating Profit 99 106 109 92 157 165
OPM % 13% 13% 12% 10% 15% 15%
Other Income 4 4 4 -10 19 20
Interest 5 4 4 4 3 3
Depreciation 44 44 46 48 49 48
Profit before tax 55 63 64 30 124 133
Tax % 8% 25% 21% 35% 47%
Net Profit 50 47 50 19 66 73
EPS in Rs 171.36 13.07 14.00 5.40 18.20 20.33
Dividend Payout % 1% 15% 18% 46% 55%
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:7%
TTM:26%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:12%
TTM:109%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:8%
1 Year:105%
Return on Equity
10 Years:%
5 Years:%
3 Years:6%
Last Year:8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
36 36 36 36 36
Reserves 650 716 759 773 854
Borrowings 84 112 89 65 64
158 134 135 150 230
Total Liabilities 894 999 1,019 1,024 1,184
471 461 454 440 416
CWIP 2 8 6 7 22
Investments 12 13 46 94 128
409 516 513 483 618
Total Assets 894 999 1,019 1,024 1,184

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
28 41 109 150 139
-9 -40 -70 -50 -97
-4 18 -37 -66 -5
Net Cash Flow 14 19 3 33 38

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 109 124 88 84 82
Inventory Days 94 94 120 113 129
Days Payable 118 109 95 99 119
Cash Conversion Cycle 85 110 112 98 91
Working Capital Days 101 123 104 88 83
ROCE % 8% 8% 6% 14%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
72.43 72.44 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 0.00 0.01 0.04
10.14 14.93 16.21 16.52 16.60 16.67 16.67 16.67 16.68 16.68 13.17 12.12
17.42 12.64 11.35 11.05 10.97 10.90 10.90 10.90 10.88 10.89 14.39 15.40

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