IFBAGRO
IFB Agro Industries Limited
Distillery, shrimp processing and aquaculture feed business
Fast Moving Consumer Goods›Fast Moving Consumer Goods›Beverages›Breweries & Distilleries
ifbagro.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹863.60
Market cap
809 Cr
Stock P/E
13.6
P/B
1.20
ROE (FY26)
8.4%
ROCE (FY26)
11.4%
Operating margin (FY26)
3.4%
Debt / equity (FY26)
0.11
OCF / EBITDA (FY26)
92.7%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
IFB Agro makes spirits and spirituous beverages, processes shrimp under its marine business, and since August 2025 also makes and sells aquaculture feed, with consolidated revenue of ₹1,912 crore in FY26.
Company snapshot
14thBy market cap
Ranked among 15 companies in Breweries & Distilleries.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 71.3% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Marine | 29.0% | 343 Cr | -25 Cr | — |
| Spirit, spirituous beverages and allied products | 71.3% | 844 Cr | 55 Cr | — |
What we see
Positives
- ✓Debt-to-equity of 0.11x — the company is largely funded by its own money, not borrowed funds.
Concerns
- ✗Net margin is very thin at 3.0% — little room for error if costs rise.
1 more signal from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 352 Cr | 361 Cr | 331 Cr | 380 Cr | 384 Cr | 420 Cr | 355 Cr | 416 Cr | 533 Cr | 471 Cr | 492 Cr | 521 Cr |
| Operating expenses (approx.) | 353 Cr | 366 Cr | 337 Cr | 371 Cr | 379 Cr | 406 Cr | 346 Cr | 394 Cr | 496 Cr | 453 Cr | 469 Cr | 489 Cr |
| EBITDA | -0.58 Cr | -5 Cr | -6 Cr | 9 Cr | 5 Cr | 13 Cr | 9 Cr | 22 Cr | 37 Cr | 18 Cr | 23 Cr | 31 Cr |
| OPM % | -0.2% | -1.4% | -1.9% | 2.5% | 1.3% | 3.2% | 2.5% | 5.2% | 7.0% | 3.9% | 4.6% | 6.0% |
| Other income | 3 Cr | 3 Cr | 7 Cr | 5 Cr | 4 Cr | 5 Cr | 6 Cr | 8 Cr | 5 Cr | 4 Cr | 4 Cr | 5 Cr |
| Interest | 0.45 Cr | 0.37 Cr | 0.41 Cr | 0.25 Cr | 0.32 Cr | 0.25 Cr | 0.16 Cr | 0.17 Cr | 1 Cr | 2 Cr | 2 Cr | 2 Cr |
| Depreciation | 5 Cr | 6 Cr | 6 Cr | 5 Cr | 5 Cr | 5 Cr | 5 Cr | 4 Cr | 9 Cr | 11 Cr | 11 Cr | 9 Cr |
| Profit before tax | -3 Cr | -8 Cr | -5 Cr | 9 Cr | 4 Cr | 13 Cr | 9 Cr | 25 Cr | 32 Cr | 10 Cr | 14 Cr | 26 Cr |
| Tax % | 26.6% | 35.9% | 46.0% | 7.1% | 52.5% | 15.6% | 93.2% | 31.5% | 28.9% | 26.0% | 33.2% | 21.2% |
| Net profit | -2 Cr | -5 Cr | -3 Cr | 8 Cr | 2 Cr | 11 Cr | 0.63 Cr | 17 Cr | 23 Cr | 7 Cr | 9 Cr | 20 Cr |
| EPS (₹) | ₹-2.24 | ₹-5.39 | ₹-3.02 | ₹8.90 | ₹2.23 | ₹12.05 | ₹0.67 | ₹18.34 | ₹24.23 | ₹7.79 | ₹9.94 | ₹21.72 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,503 Cr | 1,752 Cr | 1,911 Cr | 1,701 Cr | 2,279 Cr | 1,571 Cr | 1,380 Cr | 1,538 Cr | 1,912 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 1,448 Cr | 1,707 Cr | 1,887 Cr | 1,646 Cr | 2,204 Cr | 1,498 Cr | 1,390 Cr | 1,502 Cr | 1,811 Cr | Sign in free for the trailing twelve months |
| EBITDA | 55 Cr | 45 Cr | 25 Cr | 55 Cr | 75 Cr | 73 Cr | -10 Cr | 37 Cr | 100 Cr | Sign in free for the trailing twelve months |
| OPM % | 3.7% | 2.6% | 1.3% | 3.3% | 3.3% | 4.6% | -0.8% | 2.4% | 5.2% | Sign in free for the trailing twelve months |
| Other income | 10 Cr | 13 Cr | 11 Cr | 17 Cr | 16 Cr | 16 Cr | 18 Cr | 19 Cr | 20 Cr | Sign in free for the trailing twelve months |
| Interest | 3 Cr | 3 Cr | 2 Cr | 0.17 Cr | 0.66 Cr | 2 Cr | 2 Cr | 0.98 Cr | 5 Cr | Sign in free for the trailing twelve months |
| Depreciation | 21 Cr | 19 Cr | 18 Cr | 15 Cr | 17 Cr | 19 Cr | 21 Cr | 19 Cr | 35 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 41 Cr | 36 Cr | 17 Cr | 57 Cr | 73 Cr | 68 Cr | -15 Cr | 36 Cr | 81 Cr | Sign in free for the trailing twelve months |
| Tax % | 30.0% | 13.1% | -32.3% | 18.9% | 20.1% | 27.5% | 46.1% | 38.0% | 30.1% | Sign in free for the trailing twelve months |
| Net profit | 29 Cr | 31 Cr | 22 Cr | 46 Cr | 59 Cr | 49 Cr | -8 Cr | 22 Cr | 56 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹30.56 | ₹33.48 | ₹23.71 | ₹49.51 | ₹62.50 | ₹52.45 | ₹-8.62 | ₹23.85 | ₹60.30 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 9 Cr | 9 Cr | 9 Cr | 9 Cr | 9 Cr | 9 Cr | 9 Cr | 9 Cr | 9 Cr |
| Reserves | 332 Cr | 360 Cr | 372 Cr | 435 Cr | 492 Cr | 539 Cr | 543 Cr | 600 Cr | 664 Cr |
| Borrowings | 19 Cr | 2 Cr | 0.43 Cr | 2 Cr | 22 Cr | 19 Cr | 10 Cr | 5 Cr | 74 Cr |
| Other liabilities | 97 Cr | 90 Cr | 62 Cr | 83 Cr | 67 Cr | 65 Cr | 73 Cr | 103 Cr | 125 Cr |
| Total liabilities | 457 Cr | 461 Cr | 444 Cr | 530 Cr | 590 Cr | 632 Cr | 636 Cr | 717 Cr | 872 Cr |
| Fixed assets (net) | 135 Cr | 135 Cr | 123 Cr | 120 Cr | 145 Cr | 131 Cr | 148 Cr | 141 Cr | 246 Cr |
| CWIP | 6 Cr | 2 Cr | 4 Cr | 10 Cr | 0.71 Cr | 5 Cr | 1 Cr | 8 Cr | 4 Cr |
| Investments | 131 Cr | 113 Cr | 101 Cr | 60 Cr | 101 Cr | 110 Cr | 119 Cr | 134 Cr | 137 Cr |
| Loans & advances | — | 0.38 Cr | 0.38 Cr | 0.31 Cr | 0.16 Cr | 0.12 Cr | 0.18 Cr | 0.20 Cr | 0.23 Cr |
| Inventories | 65 Cr | 65 Cr | 88 Cr | 67 Cr | 65 Cr | 100 Cr | 121 Cr | 107 Cr | 162 Cr |
| Trade receivables | 63 Cr | 59 Cr | 66 Cr | 106 Cr | 68 Cr | 52 Cr | 80 Cr | 91 Cr | 94 Cr |
| Cash & bank | 15 Cr | 45 Cr | 18 Cr | 102 Cr | 160 Cr | 171 Cr | 104 Cr | 179 Cr | 176 Cr |
| Other assets | 41 Cr | 42 Cr | 44 Cr | 65 Cr | 49 Cr | 62 Cr | 63 Cr | 56 Cr | 54 Cr |
| Total assets | 457 Cr | 461 Cr | 444 Cr | 530 Cr | 590 Cr | 632 Cr | 636 Cr | 717 Cr | 872 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 4 Cr | 42 Cr | 2 Cr | 36 Cr | 105 Cr | 33 Cr | -32 Cr | 69 Cr | 93 Cr |
| Cash from investing | 16 Cr | 1 Cr | -6 Cr | 47 Cr | -66 Cr | -17 Cr | -25 Cr | 12 Cr | -161 Cr |
| Cash from financing | -14 Cr | -15 Cr | -22 Cr | -0.20 Cr | 19 Cr | -7 Cr | -7 Cr | -6 Cr | 64 Cr |
| Net cash flow | 6 Cr | 28 Cr | -25 Cr | 83 Cr | 59 Cr | 9 Cr | -63 Cr | 75 Cr | -4 Cr |
| Free cash flow (OCF − Capex) | -16 Cr | 27 Cr | -10 Cr | 19 Cr | 74 Cr | 18 Cr | -64 Cr | 43 Cr | 69 Cr |
Ratios
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 12.1% | 10.5% | 4.9% | 12.8% | 14.1% | 12.3% | -2.4% | 6.0% | 11.4% |
| ROE % | 8.4% | 8.5% | 5.8% | 10.4% | 11.7% | 9.0% | -1.5% | 3.7% | 8.4% |
| Debtor days | 15 | 12 | 13 | 23 | 11 | 12 | 21 | 22 | 18 |
| Inventory days | 55 | 53 | 56 | 70 | 44 | 54 | 92 | 67 | 74 |
| Days payable | 33 | 30 | 22 | 47 | 25 | 15 | 34 | 19 | 24 |
| Cash conversion cycle | 37 | 35 | 47 | 46 | 31 | 51 | 79 | 69 | 68 |
| OCF / EBITDA % | 7.5% | n.m. | n.m. | 65.6% | 140.2% | 44.5% | — | n.m. | 92.7% |
| OCF / EBITDA % (3 years) | — | — | n.m. | n.m. | n.m. | 85.6% | n.m. | n.m. | n.m. |
| Debt / equity | 0.06 | 0.0057 | 0.0011 | 0.0054 | 0.04 | 0.03 | 0.02 | 0.0082 | 0.11 |
| Current ratio | 3.60 | 3.81 | 5.33 | 4.79 | 6.26 | 7.55 | 5.87 | 5.24 | 4.33 |
| Net debt / EBITDA | — | -0.95 | -0.69 | -1.81 | -1.85 | -2.09 | — | -4.73 | -1.02 |