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IFGL Refractories Limited

IFGL Refractories Limited

IFGLEXPOR.BO
IFGL Refractories LimitedIN flagBombay Stock Exchange
226.60
INR
+1.80
- -
16.33BMarket Cap
IFGL Refractories Limited
IFGLEXPOR.BO
(Bombay Stock Exchange)

Recent

price

226.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
67.75
85.4
96.96
112.34
113.66
103.57
106.17
115.85
130.36
124.75
139.85
171.92
190.37
226.28
229.61
- -
263.15
Revenue per Share
3.44
5.54
4.08
9.14
7.58
6.06
6.93
6.54
7
2.7
9.1
10.75
10.99
11.33
5.97
- -
4.82
Basic EPS, GAAP
1.16
6.66
2.65
7.6
9.18
11.99
2.01
-0.52
9.71
17.33
15.03
-8.56
-18.08
2.42
-6.2
- -
- -
Free Cash Flow per Basic Share
0.5
0.3
0.85
0.85
1.07
1.94
0.08
1.27
1.21
3.01
- -
5
3.5
3.5
3.5
- -
- -
Dividend per Share
7.09
6.95
30.88
38.34
41.19
46
39.01
44.29
49.44
49.11
58.25
64
68.96
79.29
81.8
- -
10.01
Book Value per Share
11.15
15.87
20.62
29.51
33.26
38.87
45.28
56.22
65.84
75.31
89.19
99.1
109.18
122.25
130.35
- -
141.23
Tangible Book Value per Share
69
71
69
69
69
69
72
72
72
72
72
72
72
72
72
- -
72
Basic Weighted Avg Shares
4,689
6,038
6,712
7,776
7,868
7,170
7,653
8,351
9,396
8,991
10,080
12,392
13,722
16,310
16,530
18,942
18,942
Sales/Revenue/Turnover
-26.72
10.58
7.22
12.16
9.57
9.15
7.23
6.28
6.1
4.76
10.45
7.55
6.36
5.24
3.38
2.98
2.98
Operating Margin (%)
87
129
134
155
143
155
441
438
460
483
486
511
556
643
727
796
796
Depreciation Expense
242
399
282
640
531
420
500
471
505
195
656
775
792
817
430
347
347
Net Income, GAAP
25.77
31.51
38.6
27.39
32.26
25.77
8.35
24.66
21.22
35.08
47.2
25.45
25.06
16.51
27.81
23.13
23.13
Effective Tax Rate (%)
5.16
6.6
4.2
8.23
6.75
5.85
6.53
5.64
5.37
2.16
6.51
6.25
5.77
5.01
2.6
1.83
1.83
Profit Margin (%)
1,241
701
798
1,259
1,393
1,651
2,109
2,829
3,292
3,835
5,017
5,197
5,271
5,252
5,347
5,660
5,660
Working Capital
1,253
638
539
405
289
186
144
205
156
244
219
188
600
685
565
439
439
LT Debt
1,757
2,219
2,534
3,385
3,544
3,995
6,858
7,520
7,946
8,089
8,905
9,340
10,050
10,721
11,070
11,749
11,749
Total Equity
-35.95
14.91
9.11
17.08
11.5
10.6
8.28
4.91
5.25
3.23
6.21
7.17
6.03
6.01
3.19
3.21
3.21
Return on Invested Capital (%)
19.62
30.24
13.63
18.9
14.88
10.68
14.12
12.58
12.16
5.04
14.9
15.33
13.61
12.96
6.84
8.66
8.66
Return on Capital (%)
56.84
79.73
21.47
26.42
19.06
13.9
16.67
15.7
14.94
5.48
16.95
17.59
16.53
15.29
7.41
10.5
10.5
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
1,673
- -
1,648
LT Borrowings
399
- -
326
LT Finance Leases
95
- -
113
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
72
- -
72
Market Capitalization
21,299
14,972
8,904

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
10,620
- -
9,887
Cash, Cash Equivalents & STI
1,251
- -
1,236
Accounts Receivable, Net
4,085
- -
4,251
Inventories
4,897
- -
4,114
Total Current Liabilities
5,134
- -
4,227
Payables & Accruals
- -
- -
- -
ST Debt
1,673
- -
1,648
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.74%
5.71%
6.13%
Free Cash Flow
-271.73%
-122.87%
-99.22%
Net Income, GAAP
15.3%
-8.63%
-19.26%
Sales/Revenue/Turnover
10.46%
13.69%
14.59%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,238
4,555
3,662
3,854
16,310
2025
4,145
4,111
3,788
4,485
16,530
2026
4,540
4,886
4,686
4,830
18,942

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4.1
5.27
0.21
- -
11.33
2025
3.42
1.68
-0.3
1.17
5.97
2026
1.5
1.76
-0.43
1.98
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
3.5
2025
- -
- -
- -
- -
3.5
2026
- -
- -
- -
- -
- -
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Business
IFGL Refractories Limited manufactures and supplies specialized refractories and operating systems primarily for the iron, steel, and non-ferrous industries worldwide; its core products include slide gate refractories and systems, purging systems and refractories, ladle lining and ladle refractories, tundish furniture and tundish refractories, isostatic refractories, tube changer refractories and systems, cast products and zirconia nozzles, foundry ceramics such as round hole filters, hipercast, EXHOF feeder heads, and SiC-DC casting products, as well as monolithic refractories encompassing blast furnace casthouse products, shotcreting materials, tap hole sleeves and blocks, tap hole mass, hot patching mass, slag dart machines and accessories, precast roof, delta castable, tundish lining, tundish flow modifiers, coil coating mass, neutral ramming mass, sub entry nozzles and shrouds, ladle well filler, tundish covering compound, casting flux, precast hearth and skid blocks, burner blocks, precast skid pipe cladding, tundish metering nozzles, and EBT filling mass. The company operates manufacturing facilities across more than 10 locations in Asia including India sites at Kalunga, Kandla, Visakhapatnam, Wankaner, and Adipur, Europe with units in the UK, Germany, and Czech Republic, and North America in the USA and China, serving customers in over 50 countries with a workforce exceeding 3,000 employees focused on ferrous and expanding non-ferrous sectors like cement, glass, gasification, and waste-to-energy. Founded in 1979 and headquartered in Kolkata, India, with registered office in Kalunga, Odisha, IFGL Refractories Limited, formerly IFGL Exports Limited until its name change in October 2017, functions as a subsidiary of Bajoria Financial Services Private Limited and oversees key subsidiaries including Monocon International Refractories Ltd (acquired with facilities in UK, China, USA), Hofmann Ceramic GmbH (acquired 2008), E.I. Ceramics (acquired 2010), and Sheffield Refractories Limited (acquired 2023). Recent developments encompass the acquisition of Sheffield Refractories Limited in 2023 to bolster monolithic refractories capabilities, capex investments including doubling Kandla isostatic refractories capacity to 40,000 pieces and expanding Vizag to 7,400 tonnes by FY24, inauguration of a Research and Technology Centre at Kalunga, Odisha, and formation of a joint venture IFGL-Marvels Refractories Limited in 2025 with Marvels International Group and Marvels Refractories for a Rs 300 crore greenfield plant in Gujarat producing magnesite spinel, magnesite, and magnesia chrome bricks targeting cement and non-ferrous sectors with trial production slated by March 2026.