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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of IFGL Refractories Ltd

About the Company - IFGL Refractories Ltd

IFGL Refractories Ltd. is a Public Limited Listed company incorporated on 07/09/2007 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L51909OR2007PLC027954 and registration number is 118407. Currently Company is involved in the business activities of Manufacture of refractory products. Company’s Total Operating Revenue is Rs. 787.33 Cr. and Equity Capital is Rs. 36.04 Cr. for the Year ended 31/03/2022.
RefractoriesSector 'B', Kalunga Industiral Esate, Sundargarh Dist. Orissa
NamePosition Held
Mr. S K BajoriaChairman
Mr. James L McIntoshManaging Director
Mr. K SardaDirector & CEO
Mr. S KhasnobisDirector
Mr. D G RajanDirector
Mr. D K BanerjiDirector
Mr. R AgarwalDirector
Mr. G SwarupDirector

IFGL Refractories Ltd. Share Price Update

Share PriceValue
Previous Day₹587.75

Basic Stock Data of IFGL Refractories Ltd

Market Cap 2,101 Cr.
Current Price 583
High / Low936/197
Stock P/E21.3
Book Value 290
Dividend Yield1.23 %
ROCE10.1 %
ROE8.22 %
Face Value 10.0

Data Source:

IFGL Refractories Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Operating Profit39494433373637343634485668
OPM %16%17%16%12%12%11%10%9%11%11%13%13%15%
Other Income21143445032834
Profit before tax28473523282627202422404154
Tax %26%21%107%22%28%27%24%28%19%28%26%28%29%
Net Profit2137-318201921151916293038
EPS in Rs5.7310.34-0.704.965.555.245.744.045.404.388.168.2210.54

IFGL Refractories Ltd Quarterly Chart

IFGL Refractories Ltd Profit & Loss

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Operating Profit9910610992157143153206
OPM %13%13%12%10%15%11%11%13%
Other Income444-1019161317
Profit before tax55636430124104106157
Tax %8%25%21%35%47%25%25%
Net Profit50475019667779113
EPS in Rs171.3613.0714.005.4018.2021.5021.9831.30
Dividend Payout %1%15%18%46%55%33%32%

IFGL Refractories Ltd Profit & Loss Yearly Chart

IFGL Refractories Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:11%
3 Years:15%
Compounded Profit Growth
10 Years:%
5 Years:11%
3 Years:38%
Stock Price CAGR
10 Years:%
5 Years:23%
3 Years:35%
1 Year:143%
Return on Equity
10 Years:%
5 Years:7%
3 Years:8%
Last Year:8%

IFGL Refractories Ltd Balance Sheet

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital336363636363636
Other Liabilities158134135150230253261263
Total Liabilities8949991,0191,0241,1841,2861,4261,495
Fixed Assets471461454440416422500500
Other Assets409516513483618704748817
Total Assets8949991,0191,0241,1841,2861,4261,495

IFGL Refractories Ltd Reserves and Borrowings Chart

IFGL Refractories Ltd Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 284110915013946
Cash from Investing Activity -9-40-70-50-97-26-118
Cash from Financing Activity -418-37-66-5-750
Net Cash Flow141933338-29-62

IFGL Refractories Ltd Financial Efficiency Indicators

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days1091248884827992
Inventory Days9494120113129154153
Days Payable118109959911911194
Cash Conversion Cycle851101129891122151
Working Capital Days971201028783103120
ROCE %8%8%6%14%11%10%

IFGL Refractories Ltd Financial Efficiency Indicators Chart

IFGL Refractories Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
No. of Shareholders14,07719,16818,14618,18719,78919,51119,62619,18818,93618,42720,07821,430

IFGL Refractories Ltd Shareholding Pattern Chart

No. of IFGL Refractories Ltd Shareholders

IFGL Refractories Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Small Cap Fund - Regular Plan27520360.58135.06
Aditya Birla Sun Life Small Cap Fund5004030.5424.56
DSP Tiger Fund4724080.9423.18
Aditya Birla Sun Life Balanced Advantage Fund3246860.2415.93

IFGL Refractories Ltd ROCE Trend

IFGL Refractories Ltd EPS Trend

IFGL Refractories Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
Basic EPS (Rs.)21.9821.5018.205.4014.00
Diluted EPS (Rs.)21.9821.5018.205.4014.00
Cash EPS (Rs.)37.3935.6931.6818.8126.77
Book Value[Excl.RevalReserv]/Share (Rs.)278.87259.17247.09224.46220.49
Book Value[Incl.RevalReserv]/Share (Rs.)278.87259.17247.09224.46220.49
Revenue From Operations / Share (Rs.)384.72349.48283.56254.54260.90
PBDIT / Share (Rs.)46.0943.9848.8028.4531.77
PBIT / Share (Rs.)30.6729.7935.3215.0419.00
PBT / Share (Rs.)29.3328.8434.478.3117.77
Net Profit / Share (Rs.)21.9821.5018.205.4014.00
NP After MI And SOA / Share (Rs.)21.9821.5018.205.4014.00
PBDIT Margin (%)11.9712.5817.2011.1712.17
PBIT Margin (%)7.978.5212.455.907.28
PBT Margin (%)7.628.2512.153.266.81
Net Profit Margin (%)5.716.156.412.125.36
NP After MI And SOA Margin (%)5.716.156.412.125.36
Return on Networth / Equity (%)7.888.297.362.406.35
Return on Capital Employeed (%)9.8910.7213.286.418.40
Return On Assets (%)5.556.025.541.894.95
Long Term Debt / Equity (X)
Total Debt / Equity (X)
Asset Turnover Ratio (%)0.770.780.720.600.58
Current Ratio (X)2.712.823.223.092.61
Quick Ratio (X)1.731.912.482.321.85
Inventory Turnover Ratio (X)1.732.162.091.832.43
Dividend Payout Ratio (NP) (%)31.8546.510.0092.6114.28
Dividend Payout Ratio (CP) (%)18.7228.010.0026.577.47
Earning Retention Ratio (%)68.1553.490.007.3985.72
Cash Earning Retention Ratio (%)81.2871.990.0073.4392.53
Interest Coverage Ratio (X)34.3146.5157.5028.3925.75
Interest Coverage Ratio (Post Tax) (X)17.3623.7422.4412.0912.35
Enterprise Value (Cr.)846.60886.69997.58272.29865.37
EV / Net Operating Revenue (X)0.610.700.970.290.92
EV / EBITDA (X)5.105.595.672.667.56
MarketCap / Net Operating Revenue (X)0.540.731.120.360.92
Retention Ratios (%)68.1453.480.007.3885.71
Price / BV (X)0.750.991.280.411.09
Price / Net Operating Revenue (X)0.540.731.120.360.92

IFGL Refractories Ltd Profitability Ratios (%)

IFGL Refractories Ltd Liquidity Ratios

IFGL Refractories Ltd Liquidity Ratios (%)

IFGL Refractories Ltd Interest Coverage Ratios (%)

IFGL Refractories Ltd Valuation Ratios

Fair Value of IFGL Refractories Ltd Stock

Fair Value: ₹513.99

The stock is overvalued by 11.84% compared to the current price ₹583

*Investments are subject to market risks

Strength and Weakness of IFGL Refractories Ltd Stock

  1. The company has higher reserves (828.75 cr) compared to borrowings (107.38 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (434.00 cr) and profit (87.88 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 25.96 and average Dividend Yield of 8.42%.
  2. The stock has a low average ROCE of 8.14%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 101.71, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 109.86, which may not be favorable.

About the Author

Author Avatar

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in IFGL Refractories Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE