IFGL Refractories Ltd. (IN:IFGLEXPOR)
:IFGLEXPOR
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IFGL Refractories Ltd.
(IFGLEXPOR)
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Rating:70Outperform
Price Target:
₹214.00
▲(0.09% Upside)
Action:UpgradedDate:04/28/26
The score is primarily supported by strong financial position and operational margins, plus constructive technical momentum. It is meaningfully reduced by weak cash generation (negative free cash flow) and an unfavorable/less interpretable valuation signal from the negative P/E, with only modest support from the dividend yield.
Positive Factors
Strong balance sheet
A high equity ratio (68.4%) and low debt-to-equity (0.19) provide durable financial flexibility. This capital structure reduces refinancing risk, supports investment or cyclic downturns, and preserves capacity to fund capex or absorb demand shocks without stressing liquidity or requiring emergency financing.
Negative Factors
Negative free cash flow
A substantial negative FCF and low operating-cash-to-income conversion suggest persistent cash-generation issues. If sustained, this reduces capacity to self-fund capex, repay debt, or return capital, potentially forcing external funding or curtailing strategic investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
A high equity ratio (68.4%) and low debt-to-equity (0.19) provide durable financial flexibility. This capital structure reduces refinancing risk, supports investment or cyclic downturns, and preserves capacity to fund capex or absorb demand shocks without stressing liquidity or requiring emergency financing.
Read all positive factors
IFGL Refractories Ltd. (IFGLEXPOR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.80B
Dividend Yield1.66%
Average Volume (3M)50.24K
Price to Earnings (P/E)―
Beta (1Y)1.80
Revenue Growth16.35%
EPS Growth-69.37%
CountryIN
Employees984
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)3.83
Shares Outstanding72,078,620
10 Day Avg. Volume58,075
30 Day Avg. Volume50,236
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)1.20
Price to Sales (P/S)0.79
P/FCF Ratio-29.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.2
Revenue Forecast (FY)₹22.34B
IFGL Refractories Ltd. Business Overview & Revenue Model
Company Description
IFGL Refractories Limited engages in the manufacture, trade, and sale of refractory items and related equipment and accessories used in steel plants in India and internationally. The company offers isostatic and slide gate refractories, tube chang...
How the Company Makes Money
IFGL Refractories makes money mainly by manufacturing and selling refractory consumables and related flow-control components used in metal production. Its revenue model is largely product-sales driven: (1) Continuous-casting and steelmaking refrac...
IFGL Refractories Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.74B | 16.70B | 16.31B | 13.72B | 12.39B | 10.08B |
| Gross Profit | 7.58B | 8.43B | 7.93B | 2.73B | 5.84B | 5.34B |
| EBITDA | 1.34B | 1.46B | 1.73B | 1.66B | 1.58B | 1.76B |
| Net Income | 297.50M | 429.80M | 816.74M | 792.06M | 774.81M | 655.91M |
Balance Sheet | ||||||
| Total Assets | 17.37B | 16.18B | 14.90B | 14.26B | 12.86B | 11.84B |
| Cash, Cash Equivalents and Short-Term Investments | 1.23B | 1.58B | 1.89B | 1.72B | 2.42B | 3.12B |
| Total Debt | 2.17B | 2.13B | 1.74B | 1.60B | 990.52M | 636.98M |
| Total Liabilities | 5.99B | 5.12B | 4.18B | 4.21B | 3.52B | 2.93B |
| Stockholders Equity | 11.38B | 11.07B | 10.72B | 10.05B | 9.34B | 8.90B |
Cash Flow | ||||||
| Free Cash Flow | -202.10M | -446.60M | 174.50M | -1.30B | -617.27M | 1.08B |
| Operating Cash Flow | 78.70M | 282.60M | 1.52B | 63.00M | 43.72M | 1.39B |
| Investing Cash Flow | 150.30M | -371.60M | -1.17B | -1.23B | -240.35M | -1.06B |
| Financing Cash Flow | -349.60M | -38.40M | -242.79M | 498.00M | -69.60M | -45.52M |
IFGL Refractories Ltd. Technical Analysis
Positive
213.80
Price Trends
163.22
Positive
182.52
Negative
218.45
Negative
Market Momentum
5.33
Negative
67.42
Neutral
91.08
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IFGLEXPOR, the sentiment is Positive. The current price of 213.8 is above the 20-day moving average (MA) of 151.17, above the 50-day MA of 163.22, and below the 200-day MA of 218.45, indicating a neutral trend. The MACD of 5.33 indicates Negative momentum. The RSI at 67.42 is Neutral, neither overbought nor oversold. The STOCH value of 91.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:IFGLEXPOR.
IFGL Refractories Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹13.80B | -121.96 | ― | 1.66% | 16.35% | -69.37% | |
65 Neutral | ₹1.04B | -5.21 | ― | 2.30% | -16.31% | -583.45% | |
62 Neutral | ₹29.17B | 7.48 | ― | 0.29% | 3.11% | 269.41% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | ₹95.59B | 30.41 | ― | 0.45% | 20.83% | 176.01% | |
57 Neutral | ₹66.44B | 27.99 | ― | ― | 4.56% | ― | |
52 Neutral | ₹126.48B | 69.77 | ― | ― | 6.86% | 53.19% |
* Basic Materials Sector Average
IN:IFGLEXPOR
IFGL Refractories Ltd.
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-11.71%
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IFGL Refractories Ltd. Corporate Events
IFGL Refractories Seeks Shareholder Nod via E-Vote to Appoint New Managing Director
Apr 2, 2026
IFGL Refractories Ltd. has announced that it has dispatched a postal ballot notice electronically to shareholders as of 27 March 2026, seeking their approval via remote e-voting for the appointment of Mihir Prakash Bajoria as managing director for...
IFGL Refractories Seeks Shareholder Nod to Appoint Mihir Bajoria as Managing Director
Mar 31, 2026
IFGL Refractories Ltd. has initiated a postal ballot process, conducted via remote e-voting through NSDL, seeking shareholder approval for the appointment of Mihir Prakash Bajoria as managing director for a three-year term from March 1, 2026 to Fe...
IFGL Refractories Posts Q3 FY26 Earnings Call Transcript for Investors
Feb 22, 2026
IFGL Refractories Ltd. has submitted to the stock exchanges the transcript of its Q3 and nine-month FY26 earnings conference call, held on 17 February 2026, in compliance with disclosure requirements. The company has also made the transcript avail...
IFGL Refractories Launches Plastic Refractories Line to Boost Domestic Capacity
Feb 19, 2026
IFGL Refractories Ltd. has commissioned a new production line for plastic refractories at its Visakhapatnam facility, using technical know-how from its material subsidiary Sheffield Refractories Ltd. in the U.K. The new line has an installed capac...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.