| Revenue growth | Consolidated FY26 grew 14% YoY; domestic FY26 grew 20% YoY. |
|---|---|
| Margins | Consolidated EBITDA margin at 7.7% for FY26; impacted by product mix. |
| Order book | Order books are strengthening and customer engagement levels are increasing. |
| Demand visibility | Strong Indian steel capacity expansion plans provide long-term demand visibility. |
| Management confidence | High in domestic steel demand; optimistic on U.S. and European recovery. |
Growth
FY26 Consolidated Revenue up 14% to ₹1,904cr; Standalone FY26 Total Income up 10% to ₹1,117cr.
Outlook
Targeting double-digit domestic growth for FY27; Khurda greenfield project underway; targeting Monocon breakeven by Q4FY27.
Risks
Geopolitical uncertainties impacting exports; elevated raw material and shipping costs; LPG availability issues in West Asia.
Last quarter's promises, checked
Delivered
- Guided 35%-40% TRM revenue share → delivered 35%-40% (= BEAT)
- Guided US growth rebound → delivered 37% YoY revenue growth (= BEAT)
- Guided 12% minimum standalone EBITDA margin → delivered 11% 9MFY26 (= BEAT)
Partly delivered
- Guided Khurda project progress → commenced but completion target remains FY28 (= PARTIAL)
Missed
- Guided technology transfer by Dec 2025 → delayed to March 2026 (= MISS)
- Guided 12% consolidated EBITDA margin → delivered 7.3% 9MFY26 (= MISS)
Earnings Call filed with BSE, NSE: IFGLEXPOR. Summary written with AI assistance from the document.
IFGL Refractories Ltd: key numbers
- Share price
- ₹182.50
- Market cap
- ₹1,315 Cr
- Revenue (annual)
- ₹1,894 Cr
- Net profit (annual)
- ₹34.70 Cr
- P/E (TTM)
- 32.1×Sector 53.9×
- Promoter holding
- 72.43%+0.00% QoQ
- FII holding
- 0.03%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from IFGL Refractories Ltd
All →IFGL Refractories Other Announcement
IFGL Refractories sent reminders to shareholders holding physical shares, urging them to update mandatory PAN, KYC, and nomination details as per SEBI circulars.
IFGL Refractories Annual General Meeting
IFGL Refractories Ltd issued a Postal Ballot Notice to seek shareholder approval for the appointment of Mr. Mukesh Harshadrai Rawal as Whole-time Director and CEO.
IFGL Refractories Other Announcement
IFGL Refractories Limited has received an unsolicited 'CRISIL ESG 54' rating from Crisil ESG Ratings & Analytics Limited, classified under the Adequate category.
IFGL Refractories Business Update
IFGL Refractories Limited has received renewed ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications from TÜV NORD CERT GmbH. The certificates cover its manufacturing and corporate facilities until September 2029.
- Execution
- Renewed for the period 2nd September, 2026 to 1st September, 2029
IFGL Refractories Credit Rating
ICRA has reaffirmed the credit ratings for IFGL Refractories' long-term and short-term credit facilities, aggregating to ₹273 Crore. The ratings remain stable.
- Value
- ₹273.0 Cr
IFGL Refractories Management Change
IFGL Refractories has promoted Mr. Ashok Kumar Kedia and Mr. Frank Mitchell as Co-Presidents of its US subsidiary, Mono Ceramics Inc, effective August 16, 2026.