IFB Industries Ltd

IFB Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

IFB Industries Ltd

₹ 1,615 5.44%
22 Jul 4:01 p.m.
ifbindustries.com BSE: 505726 NSE: IFBIND
About

IFB Industries Limited originally known as Indian Fine Blanks Limited started its operations in India in 1974 in collaboration with Heinrich Schmid AG of Switzerland. [1] It is engaged in the business of manufacturing diverse parts and accessories for motor vehicles etc. and home appliances products. [2]

Key Points

Products
Home Appliances Division (82% of revenue) - covers domestic appliance and industrial application categories including washing machines, domestic and industrial dishwashers, etc. In FY23, company launched washer dryers, 9kg & 10kg machines. [1]
Engineering Division (17% revenue contribution) includes a product range of fine-blanked components, tools, and related machine tools like straighteners, strip loaders, etc. [2] It mainly caters to the automobile sector (2 wheelers, 4-wheelers, and commercial vehicles). [3]
Modular Kitchen: The company is at a nascent stage in this segment with three stores in Goa, three stores in Bangalore, and one store in Kolkata. The company has launched another store in Mumbai in FY23.[4]

Website BSE NSE
  • Market Cap ₹ 6,550 Cr.
  • Current Price ₹ 1,615
  • High / Low ₹ 1,755 / 818
  • Stock P/E 153
  • Book Value ₹ 177
  • Dividend Yield 0.00 %
  • ROCE 9.73 %
  • ROE 6.16 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 9.12 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 0.21% over last 3 years.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Consumer Durables Industry: Domestic Appliances

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
825 572 990 953 900 1,067 1,118 999 1,010 1,086 1,101 1,161 1,090
771 604 919 926 911 1,033 1,049 969 984 1,055 1,038 1,103 1,048
Operating Profit 54 -32 70 27 -10 35 70 30 26 30 63 58 42
OPM % 7% -6% 7% 3% -1% 3% 6% 3% 3% 3% 6% 5% 4%
7 4 5 5 4 4 5 4 9 8 6 7 11
Interest 5 8 8 8 8 7 7 7 8 7 7 7 7
Depreciation 26 26 30 29 29 29 29 30 34 30 30 32 32
Profit before tax 30 -62 37 -5 -43 3 38 -3 -6 1 31 26 15
Tax % 74% -33% 33% -40% -35% 39% 37% -66% 72% 211% 31% 34% 19%
8 -41 25 -3 -28 2 24 -1 -10 -1 22 17 12
EPS in Rs 1.90 -10.18 6.07 -0.79 -6.98 0.47 5.95 -0.28 -2.45 -0.15 5.31 4.31 2.96
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,758 2,220 2,657 2,637 2,801 3,415 4,195 4,438
1,657 2,060 2,529 2,514 2,588 3,367 4,031 4,242
Operating Profit 102 160 128 123 213 49 164 196
OPM % 6% 7% 5% 5% 8% 1% 4% 4%
13 16 32 14 22 28 23 32
Interest 6 7 8 18 34 35 33 31
Depreciation 44 54 58 92 102 115 122 124
Profit before tax 65 115 94 27 99 -74 32 73
Tax % 20% 31% 24% 4% 35% -35% 54% 31%
52 79 71 26 64 -48 15 50
EPS in Rs 13.15 19.98 18.00 6.76 15.82 -11.89 3.69 12.43
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 11%
3 Years: 17%
TTM: 6%
Compounded Profit Growth
10 Years: %
5 Years: -5%
3 Years: -13%
TTM: 337%
Stock Price CAGR
10 Years: 26%
5 Years: 19%
3 Years: 16%
1 Year: 94%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 0%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 41 41 41 41 41 41 41 41
Reserves 428 507 577 605 655 607 626 676
40 32 31 357 293 363 353 164
397 538 619 662 903 1,019 1,086 1,298
Total Liabilities 907 1,118 1,268 1,665 1,891 2,030 2,107 2,180
329 339 358 625 654 698 695 629
CWIP 14 7 24 10 21 15 21 16
Investments 54 93 27 153 260 229 186 263
509 679 859 877 956 1,088 1,205 1,271
Total Assets 907 1,118 1,268 1,665 1,891 2,030 2,107 2,180

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
85 124 45 184 292 51 106 351
-95 -92 -33 -374 -187 -27 -6 -137
9 -13 -5 223 -112 -51 -94 -186
Net Cash Flow -2 20 6 33 -7 -28 6 28

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 30 31 34 28 35 33 36 38
Inventory Days 87 93 94 94 108 102 82 75
Days Payable 97 112 107 116 153 144 118 136
Cash Conversion Cycle 19 11 22 6 -10 -8 -1 -23
Working Capital Days 12 15 20 12 2 1 8 -4
ROCE % 20% 13% 5% 13% -4% 6% 10%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96%
7.70% 7.43% 6.99% 0.61% 0.62% 0.64% 0.63% 1.84% 0.65% 0.70% 0.75% 0.83%
2.09% 3.32% 4.03% 4.14% 3.96% 4.23% 4.18% 4.18% 4.43% 3.57% 6.59% 6.74%
15.25% 14.29% 14.01% 20.29% 20.46% 20.16% 20.22% 19.02% 19.96% 20.77% 17.71% 17.46%
No. of Shareholders 26,80924,37726,13326,13824,57125,31725,87526,82526,99126,73126,08028,240

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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