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IFGL Refractories Ltd (IFGLEXPOR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540774 NSE: IFGLEXPOR Refractories | Small Cap | IFGL Refractories Share Price

₹200.65 3.65 (1.85%)

As on 04-Jun'26 16:59

IFGL Refractories Ltd (IFGLEXPOR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540774 NSE: IFGLEXPOR Refractories | Small Cap | IFGL Refractories Share Price

₹200.65 3.65 (1.85%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,446 Cr.
Current Price
₹200.7
52-Week Low / High
₹120 / 340
TTM EPS
₹5.4
TTM Sales
₹1,109 Cr.
Book Value per Share
₹98.2
P/E Ratio
37.24
Higher than its 5-year historical median
Industry PE
46.5
Price to Book (P/B)
2.04
In line with its 5-year historical median
Price to Sales (P/S)
1.30
Lower than its 5-year historical median
EV/EBITDA
12.51
Higher than its 5-year historical median
Dividend Yield
2.00%
Profitability Efficiency
Return on Equity (ROE)
8.50%
Underperforms industry median
Return on Capital Employed (ROCE)
10.85%
Underperforms industry median
Return on Assets (ROA)
5.20%
Operating Profit Margin
12.5%
Net Profit Margin
5.77%
Gross Profit Margin
12.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.71%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
7.89%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-11.53%
Asset Quality
Promoter Holding
72.43%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹636 Cr.
Equity
₹72.1 Cr.
Face Value
₹10
All Time Low / High
₹32.05 / 467.75

IFGL Refractories stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is IFGL Refractories Ltd a good quality company?
IFGL Refractories Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does IFGL Refractories Ltd performance compare with that of its Peers?
Q.1 Revenue growth of IFGL Refractories Ltd vs industry peers?
IFGL Refractories Ltd revenue CAGR is 14.88%, compared to the industry median CAGR of 4.42%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of IFGL Refractories Ltd?
Promoters hold 72.43% of the IFGL Refractories Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of IFGL Refractories Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -2.02% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
IFGL Refractories Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 16.4%5.7%6.9%6.5%7.1%18.4%14.6%13.1%11.4%10.9%-
Value Creation
Index
0.2-0.6-0.5-0.5-0.50.30.0-0.1-0.2-0.2-

Growth Parameters

Sales 46.53724434894996497878338939981,109
Sales YoY Gr.-699.2%19.2%10.3%2%30.2%21.3%5.9%7.2%11.7%-
Adj EPS 9.730.123.64.26.38.78.68.985.4
YoY Gr.-209.9%-93.3%79.1%15.3%52.8%37.5%-2%4.2%-10.3%-
BVPS (₹) 44.8757.567.970.271.377.681.386.391.896.398.2
Adj Net
Profit
5.717.614.525.929.945.762.961.664.257.639
Cash Flow from Ops. 10.8-6.89.690.711990.99.863.411724.4-
Debt/CF from Ops. 2.2-10.59.40.70.30.47.71.70.95.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 40.6%14.9%8.2%11.7%
Adj EPS -2.2%14%-2.9%-10.3%
BVPS8.9%6.2%5.8%4.8%
Share Price - 1% 7.6% -23.7%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
24.8735.25.98.51110.2108.55.5
Op. Profit
Mgn %
21.913.914.414.714.321.415.114.81312.510.7
Net Profit
Mgn %
12.24.73.35.36787.47.25.83.5
Debt to
Equity
0.90.20.20.10.10.10.10.20.20.20
Working Cap
Days
205143248220172138154198213221107
Cash Conv.
Cycle
10166125128103778911110710756

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales47372443489499649787833893998
Operating Expenses + 36321380417427511669711777873
Manufacturing Costs440445456628188104128
Material Costs18184230251256304396460461522
Employee Cost 3383942445256617498
Other Costs 115966717193136102139124
Operating Profit 1051637271138119122116125
Operating Profit Margin (%) 21.9%13.7%14.3%14.7%14.3%21.2%15.1%14.7%13.0%12.5%
Other Income + 131348714131716
Exceptional Items 0000000000
Interest 245544461113
Depreciation 3373839393941444754
Profit Before Tax 71334333610187857475
Tax 0-61176562424917
Profit After Tax 7182326304563616558
PAT Margin (%) 14.1%4.9%5.1%5.3%6.0%6.9%8.0%7.3%7.3%5.8%
Adjusted EPS (₹)11.231.13.13.64.16.28.88.59.08.0
Dividend Payout Ratio (%)0%3.20%31.90%34.70%30.30%80.40%39.90%41.20%38.70%43.80%

Valuation of IFGL Refractories - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 26442489506514559586622662694
Share Capital 233636363636363636
Reserves 24439453470478523550586626658
Debt +1766876532367510088130
Long Term Debt5420000404133
Short Term Debt12618665323675604697
Minority Interest0000000000
Trade Payables858696162851097995144
Others Liabilities 888413237163185196208
Total Liabilities 606546866366317528339871,0411,176

Fixed Assets

Net Fixed Assets +31304277261257227234249256313
Gross Block44424428441471476519572408491
Accumulated Depreciation13119152180214249285323152178
CWIP 01364181530777
Investments 06969102150184191189183164
Inventories544508774101170172172267
Trade Receivables19155207141125157180200190224
Cash Equivalents 03799439124
Others Assets 5787331132235146161197
Total Assets 606546866366317528339871,0411,176

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 11-7109111991106311724
PBT 71334333610187857475
Adjustment 5494339383940347849
Changes in Working Capital 1-57-602840-32-93-27-13-76
Tax Paid -1-11-7-85-17-25-28-22-23
Cash Flow From Investing Activity + -2-12-19-56-50-101-8-59-85-20
Capex -2-11-15-24-17-26-49-72-102-53
Net Investments 0-2-5-34-35-7638101430
Others 0111212333
Cash Flow From Financing Activity + -939-35-623-2-4-31-4
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -67-3-3-2004018-17
Interest Paid -2-4-4-4-2-1-2-5-9-11
Dividend Paid 00-9-9-220-36-25-25-25
Others -1024-20-36437-15-1549
Net Cash Flow 0-160-17-8-0-000

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)28.687.764.855.225.838.3611.0410.1210.148.5
ROCE (%)16.385.736.856.487.1418.4314.5613.0911.3810.85
Asset Turnover Ratio0.791.090.670.740.790.940.990.920.880.9
PAT to CFO Conversion(x)1.57-0.390.433.53.972.020.161.031.80.41
Working Capital Days
Receivable Days139.4081.50147.70129.7097.2079.2078.1083.3079.8075.80
Inventory Days38.4022.9038.7051.2058.704962.6074.9070.3080.20
Payable Days145.8066101.209588.2088.6089.5074.506983.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

IFGL Refractories Ltd FAQs

The current trading price of IFGL Refractories on 04-Jun-2026 16:59 is ₹200.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of IFGL Refractories stood at ₹1,446.3 Cr

The latest P/E ratio of IFGL Refractories as of 03-Jun-2026 is 37.24.

The latest P/B ratio of IFGL Refractories as of 03-Jun-2026 is 2.04.

The 52-week high of IFGL Refractories is ₹339.5 and the 52-week low is ₹120.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of IFGL Refractories is ₹1,109 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that IFGL Refractories Ltd is a average quality company.

The key valuation ratios of IFGL Refractories Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of IFGL Refractories Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About IFGL Refractories Ltd

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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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