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IFGL Refractories Limited

IFGL Refractories Limited

IFGLEXPOR.NS
IFGL Refractories LimitedIN flagNational Stock Exchange of India
228.80
INR
+4.59
- -
16.49BMarket Cap
IFGL Refractories Limited
IFGLEXPOR.NS
(National Stock Exchange of India)

Recent

price

228.80

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
21,269
15,002
8,854

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, trades, and sells specialized refractories and related equipment for steel plants in India and internationally; it serves as a total refractory solutions provider primarily for the iron and steel industry with products including raker plates, granshot tundish systems, desulphurisation lances, torpedo ladle solutions, basic oxygen furnace refractories, electric arc furnace refractories, electric steel making systems, ladle and tundish refractories, fluxes, continuous casting refractories, slide gate refractories and systems, monolithics, precast shapes, zircon and zirconia nozzles, casting fluxes, purging systems, tube changer refractories, cast products, and foundry ceramics such as round hole filters, hipercast, EXHOF feeder heads, and SiC-DC casting products. The company operates manufacturing facilities in India across Gujarat, Odisha, and Andhra Pradesh, as well as subsidiaries and production units in China, the UK, Germany, and the USA, serving more than 300 customers in over 50 countries with a workforce exceeding 3,000 employees; founded in 1979 and headquartered in Kolkata, India, it functions as a subsidiary of Bajoria Financial Services Private Limited and traces promotional roots to the S.K. Bajoria Group of India and Krosaki Harima Corporation of Japan. Recent developments include the incorporation of IFGL Marvel Refractories Limited as a greenfield project to expand into cement, glass, non-ferrous, and gasification sectors through a strategic partnership emphasizing local 'Make in India' production; ongoing capacity expansions such as doubling isostatic refractories output to 40,000 pieces at the Kandla plant and increasing Vizag plant capacity to 7,400 tonnes by fiscal 2024; inauguration of a Research and Technology Centre at Kalunga, Odisha, for product innovation; past acquisitions like UK-based Sheffield Refractories to enhance flow control solutions; and management changes with the appointment of Subbaraman Swaminathan as Vice President - Projects in September 2025 and resignation of CHRO Navin Kumar Das in October 2025.