IFGLEXPOR

IFGL Refractories Limited

IFGL Refractories Limited (IFGLEXPOR) financial statements and selected valuation metrics through 30 June 2026.

Industrials›Capital Goods›Industrial Products›Electrodes & Refractories

ifglgroup.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹182.96
Market cap
1,317 Cr
Stock P/E
32.2
P/B
1.12
Dividend yield
1.9%
ROE (FY26)
3.0%
ROCE (FY26)
4.4%
Operating margin (FY26)
3.0%
Debt / equity (FY26)
0.17
OCF / EBITDA (FY26)
46.6%
OCF / EBITDA (3Y)
58.2%

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

IFGL Refractories (IFGL) makes refractory products for iron and steel makers, selling mainly in India and exporting to Europe, the Americas and Asia.

Company snapshot

6thBy market cap

Ranked among 8 companies in Electrodes & Refractories.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 61.1% of revenue

SegmentRevenue shareRevenuePBTAssets
America
17.0%
64 Cr2 Cr194 Cr
Asia (excluding India)
1.8%
7 Cr0.11 Cr27 Cr
Europe
20.1%
76 Cr-8 Cr277 Cr
India
61.1%
231 Cr9 Cr938 Cr

What we see

Positives
  • ✓Debt-to-equity of 0.17x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is very thin at 1.8% — little room for error if costs rise.
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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

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales456 Cr366 Cr394 Cr415 Cr411 Cr379 Cr449 Cr454 Cr489 Cr469 Cr483 Cr512 Cr
Operating expenses (approx.)388 Cr370 Cr359 Cr368 Cr379 Cr362 Cr415 Cr418 Cr451 Cr446 Cr444 Cr475 Cr
EBITDA68 Cr-4 Cr35 Cr46 Cr33 Cr17 Cr33 Cr36 Cr38 Cr23 Cr39 Cr37 Cr
OPM %14.9%-1.1%8.8%11.1%7.9%4.4%7.4%7.9%7.8%4.9%8.1%7.2%
Other income4 Cr4 Cr7 Cr7 Cr4 Cr3 Cr4 Cr3 Cr2 Cr2 Cr3 Cr3 Cr
Interest2 Cr3 Cr3 Cr3 Cr3 Cr4 Cr4 Cr5 Cr4 Cr4 Cr4 Cr3 Cr
Depreciation16 Cr16 Cr17 Cr17 Cr18 Cr18 Cr20 Cr19 Cr20 Cr20 Cr21 Cr14 Cr
Profit before tax54 Cr-18 Cr21 Cr33 Cr15 Cr-2 Cr13 Cr15 Cr17 Cr-4 Cr17 Cr23 Cr
Tax %29.3%108.2%40.8%26.0%21.5%-11.2%34.1%28.7%24.0%17.6%16.0%26.3%
Net profit38 Cr2 Cr13 Cr25 Cr12 Cr-2 Cr8 Cr11 Cr13 Cr-3 Cr14 Cr17 Cr
EPS (₹)₹10.55₹0.42₹3.48₹6.84₹3.35₹-0.60₹2.34₹1.50₹1.76₹-0.43₹1.98₹2.37

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales783 Cr839 Cr940 Cr917 Cr1,022 Cr1,260 Cr1,387 Cr1,639 Cr1,653 Cr1,894 CrSign in free for the trailing twelve months
Operating expenses (approx.)684 Cr733 Cr832 Cr826 Cr867 Cr1,117 Cr1,234 Cr1,485 Cr1,524 Cr1,758 CrSign in free for the trailing twelve months
EBITDA99 Cr106 Cr109 Cr92 Cr155 Cr143 Cr153 Cr154 Cr129 Cr136 CrSign in free for the trailing twelve months
OPM %12.7%12.6%11.6%10.0%15.2%11.3%11.0%9.4%7.8%7.2%Sign in free for the trailing twelve months
Other income4 Cr4 Cr6 Cr11 Cr21 Cr16 Cr13 Cr19 Cr17 Cr10 CrSign in free for the trailing twelve months
Interest5 Cr4 Cr4 Cr4 Cr3 Cr3 Cr5 Cr11 Cr14 Cr16 CrSign in free for the trailing twelve months
Depreciation44 Cr44 Cr46 Cr48 Cr49 Cr51 Cr56 Cr64 Cr73 Cr80 CrSign in free for the trailing twelve months
Profit before tax55 Cr63 Cr64 Cr30 Cr124 Cr104 Cr106 Cr98 Cr60 Cr45 CrSign in free for the trailing twelve months
Tax %8.4%24.7%21.2%35.1%47.2%25.4%25.1%16.5%27.8%23.1%Sign in free for the trailing twelve months
Net profit50 Cr47 Cr50 Cr19 Cr66 Cr77 Cr79 Cr82 Cr43 Cr35 CrSign in free for the trailing twelve months
EPS (₹)₹13.86₹13.07₹14.00₹5.40₹18.20₹21.50₹21.98₹22.66₹11.93₹4.81Sign in free for the trailing twelve months
Dividend payout %————0.0%46.5%31.9%30.9%58.7%72.7%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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital36 Cr36 Cr36 Cr36 Cr36 Cr36 Cr36 Cr36 Cr36 Cr72 Cr
Reserves650 Cr716 Cr759 Cr773 Cr854 Cr898 Cr969 Cr1,036 Cr1,071 Cr1,103 Cr
Borrowings76 Cr106 Cr85 Cr49 Cr48 Cr99 Cr160 Cr163 Cr202 Cr196 Cr
Other liabilities133 Cr140 Cr140 Cr172 Cr245 Cr253 Cr261 Cr255 Cr309 Cr302 Cr
Total liabilities894 Cr999 Cr1,019 Cr1,029 Cr1,184 Cr1,286 Cr1,426 Cr1,490 Cr1,619 Cr1,673 Cr
Fixed assets (net)119 Cr122 Cr144 Cr174 Cr168 Cr202 Cr282 Cr326 Cr404 Cr418 Cr
CWIP2 Cr8 Cr6 Cr7 Cr22 Cr25 Cr46 Cr104 Cr27 Cr41 Cr
Investments12 Cr13 Cr46 Cr94 Cr128 Cr135 Cr132 Cr126 Cr126 Cr101 Cr
Loans & advances——0 Cr0.66 Cr0.67 Cr0 Cr0 Cr0.10 Cr0 Cr0.37 Cr
Inventories94 Cr108 Cr157 Cr142 Cr168 Cr259 Cr302 Cr301 Cr405 Cr411 Cr
Trade receivables228 Cr284 Cr229 Cr211 Cr228 Cr272 Cr350 Cr325 Cr359 Cr425 Cr
Cash & bank54 Cr74 Cr76 Cr110 Cr148 Cr119 Cr57 Cr70 Cr61 Cr53 Cr
Other assets385 Cr389 Cr361 Cr292 Cr322 Cr274 Cr257 Cr239 Cr237 Cr223 Cr
Total assets894 Cr999 Cr1,019 Cr1,029 Cr1,184 Cr1,286 Cr1,426 Cr1,490 Cr1,619 Cr1,673 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity28 Cr41 Cr109 Cr150 Cr139 Cr4 Cr6 Cr152 Cr28 Cr63 Cr
Cash from investing-0.23 Cr-48 Cr-71 Cr-54 Cr-106 Cr-24 Cr-123 Cr-117 Cr-37 Cr-21 Cr
Cash from financing-4 Cr18 Cr-37 Cr-66 Cr-5 Cr-7 Cr50 Cr-24 Cr-4 Cr-58 Cr
Net cash flow14 Cr19 Cr3 Cr33 Cr38 Cr-29 Cr-64 Cr13 Cr-9 Cr-8 Cr
Free cash flow (OCF − Capex)14 Cr-4 Cr70 Cr125 Cr108 Cr-62 Cr-130 Cr17 Cr-45 Cr-0.35 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.8%7.8%7.8%3.9%13.6%10.4%9.5%8.8%5.6%4.4%
ROE %7.3%6.3%6.3%2.4%7.4%8.3%7.9%7.6%3.9%3.0%
Debtor days1061238984817992727982
Inventory days110113138132169170183148189163
Days payable1371301101161561221138811092
Cash conversion cycle7910611710094126162132158153
OCF / EBITDA %28.1%38.8%100.6%163.7%89.7%3.1%4.1%98.6%22.0%46.6%
OCF / EBITDA % (3 years)——56.8%98.1%112.1%75.4%33.3%36.2%42.8%58.2%
Debt / equity0.110.140.110.060.050.110.160.150.180.17
Current ratio2.102.272.613.103.222.822.712.682.282.34
Net debt / EBITDA0.21—0.08-0.67-0.64-0.140.680.601.101.05