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Last Updated on: 24 June, 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.
INDUSTRYADDRESSCONTACT
RefractoriesSector 'B', Kalunga Industiral Esate, Sundargarh Dist. Orissa 770031ifgl.works@ifgl.in
http://www.ifglref.com
Management
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

Basic Stock Data of IFGL Refractories Ltd

Last Updated: June 17, 2024, 8:30 pm

Market Cap 2,305 Cr.
Current Price 640
High / Low936/311
Stock P/E28.2
Book Value 297
Dividend Yield1.09 %
ROCE9.03 %
ROE7.86 %
Face Value 10.0
PEG Ratio0.67

IFGL Refractories Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales246289284275310314361359343316368424456
Expenses207240239242273278324325307282320368388
Operating Profit39494433373637343634485668
OPM %16%17%16%12%12%11%10%9%11%11%13%13%15%
Other Income21143445032834
Interest1111111121132
Depreciation12121212121315131313161616
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
Sales7668359509171,0221,2601,3861,563
Expenses6677298418258651,1171,2331,357
Operating Profit9910610992157143153206
OPM %13%13%12%10%15%11%11%13%
Other Income444-1019161317
Interest54443357
Depreciation4444464849515660
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:12%
3 Years:17%
TTM:18%
Compounded Profit Growth
10 Years:%
5 Years:10%
3 Years:7%
TTM:3%
Stock Price CAGR
10 Years:%
5 Years:27%
3 Years:21%
1 Year:98%
Return on Equity
10 Years:%
5 Years:7%
3 Years:8%
Last Year:8%

Last Updated: June 17, 2024, 3:00 pm

IFGL Refractories Ltd Balance Sheet

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital336363636363636
Reserves6507167597738548989691,011
Borrowings8411289656499160186
Other Liabilities158134135150230253261263
Total Liabilities8949991,0191,0241,1841,2861,4261,495
Fixed Assets471461454440416422500500
CWIP286722254657
Investments12134694128135132121
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 2023Mar 2024
Debtor Days109124888482799272
Inventory Days9494120113129154153132
Days Payable11810995991191119479
Cash Conversion Cycle851101129891122151126
Working Capital Days971201028783103120124
ROCE %8%8%6%14%11%10%

IFGL Refractories Ltd Financial Efficiency Indicators Chart

IFGL Refractories Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters72.43%72.43%72.43%72.43%72.43%72.44%72.44%72.44%72.44%72.44%72.44%72.44%
FIIs0.04%0.01%0.04%0.02%0.00%0.04%0.02%0.00%0.04%0.03%0.37%0.27%
DIIs12.12%11.00%11.05%10.60%10.60%10.46%10.45%10.45%10.46%11.82%11.70%13.52%
Public15.40%16.55%16.48%16.95%16.96%17.07%17.08%17.12%17.07%15.69%15.49%13.75%
No. of Shareholders19,16818,14618,18719,78919,51119,62619,18818,93618,42720,07821,43018,901

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)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund - Regular Plan2,752,0360.58135.062,752,0362024-06-150%
Aditya Birla Sun Life Small Cap Fund500,4030.5424.562,752,0362024-06-15-81.82%
DSP Tiger Fund472,4080.9423.182,752,0362024-06-15-82.83%
Aditya Birla Sun Life Balanced Advantage Fund324,6860.2415.932,752,0362024-06-15-88.2%

IFGL Refractories Ltd ROCE Trend

IFGL Refractories Ltd EPS Trend

IFGL Refractories Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)22.6621.9821.5018.205.40
Diluted EPS (Rs.)22.6621.9821.5018.205.40
Cash EPS (Rs.)40.4937.3935.6931.6818.81
Book Value[Excl.RevalReserv]/Share (Rs.)297.46278.87259.17247.09224.46
Book Value[Incl.RevalReserv]/Share (Rs.)297.46278.87259.17247.09224.46
Revenue From Operations / Share (Rs.)454.91384.72349.48283.56254.54
PBDIT / Share (Rs.)48.0446.0943.9848.8028.45
PBIT / Share (Rs.)30.2130.6729.7935.3215.04
PBT / Share (Rs.)27.1429.3328.8434.478.31
Net Profit / Share (Rs.)22.6621.9821.5018.205.40
NP After MI And SOA / Share (Rs.)22.6621.9821.5018.205.40
PBDIT Margin (%)10.5611.9712.5817.2011.17
PBIT Margin (%)6.647.978.5212.455.90
PBT Margin (%)5.967.628.2512.153.26
Net Profit Margin (%)4.985.716.156.412.12
NP After MI And SOA Margin (%)4.985.716.156.412.12
Return on Networth / Equity (%)7.617.888.297.362.40
Return on Capital Employeed (%)9.249.8910.7213.286.41
Return On Assets (%)5.475.556.025.541.89
Long Term Debt / Equity (X)0.050.040.010.010.01
Total Debt / Equity (X)0.150.140.090.050.06
Asset Turnover Ratio (%)1.120.770.780.720.60
Current Ratio (X)2.682.712.823.223.09
Quick Ratio (X)1.721.731.912.482.32
Inventory Turnover Ratio (X)2.461.732.162.091.83
Dividend Payout Ratio (NP) (%)0.0031.8546.510.0092.61
Dividend Payout Ratio (CP) (%)0.0018.7228.010.0026.57
Earning Retention Ratio (%)0.0068.1553.490.007.39
Cash Earning Retention Ratio (%)0.0081.2871.990.0073.43
Interest Coverage Ratio (X)15.6834.3146.5157.5028.39
Interest Coverage Ratio (Post Tax) (X)8.4017.3623.7422.4412.09
Enterprise Value (Cr.)2039.87846.60886.69997.58272.29
EV / Net Operating Revenue (X)1.240.610.700.970.29
EV / EBITDA (X)11.785.105.595.672.66
MarketCap / Net Operating Revenue (X)1.190.540.731.120.36
Retention Ratios (%)0.0068.1453.480.007.38
Price / BV (X)1.820.750.991.280.41
Price / Net Operating Revenue (X)1.190.540.731.120.36
EarningsYield0.040.100.080.050.05

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

Fair Value: 665.48

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 3.98% compared to the current price 640

Intrinsic Value: 945.73

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 47.77% compared to the current price ₹640

Last 5 Year EPS CAGR: 42.11%

*Investments are subject to market risks

Strength and Weakness of IFGL Refractories Ltd Stock

StrengthWeakness
  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 has a low average ROCE of 7.13%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 104.50, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 111.88, which may not be favorable.

FAQ

What is the latest fair value of IFGL Refractories Ltd?

The latest fair value of IFGL Refractories Ltd is ₹665.48.

What is the Market Cap of IFGL Refractories Ltd?

The Market Cap of IFGL Refractories Ltd is 2,305 Cr..

What is the current Stock Price of IFGL Refractories Ltd as on 24 June 2024?

The current stock price of IFGL Refractories Ltd as on 24 June 2024 is ₹640.

What is the High / Low of IFGL Refractories Ltd stocks in FY 2024?

In FY 2024, the High / Low of IFGL Refractories Ltd stocks is 936/311.

What is the Stock P/E of IFGL Refractories Ltd?

The Stock P/E of IFGL Refractories Ltd is 28.2.

What is the Book Value of IFGL Refractories Ltd?

The Book Value of IFGL Refractories Ltd is 297.

What is the Dividend Yield of IFGL Refractories Ltd?

The Dividend Yield of IFGL Refractories Ltd is 1.09 %.

What is the ROCE of IFGL Refractories Ltd?

The ROCE of IFGL Refractories Ltd is 9.03 %.

What is the ROE of IFGL Refractories Ltd?

The ROE of IFGL Refractories Ltd is 7.86 %.

What is the Face Value of IFGL Refractories Ltd?

The Face Value of IFGL Refractories Ltd is 10.0.

About the Author

Author Avatar
Getaka

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 getaka.co.in 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