Following Regulation 30, 33 and 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR 2015), Outcome of proceedings at Company's Board Meeting held to-day ....
IFGLEXPOR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IFGL Refractories reported audited standalone revenue of ₹1,10,941 lakhs for FY26, up 11.2% YoY from ₹99,763 lakhs, while consolidated revenue grew 14.6% to ₹1,89,425 lakhs from ₹1,65,303 lakhs. However, standalone PAT fell sharply to ₹3,884 lakhs (down 32.6%) from ₹5,760 lakhs, and consolidated PAT dropped to ₹3,470 lakhs (down 19.3%) from ₹4,298 lakhs. Standalone EBITDA margin compressed significantly to ~4.9% from ~7.5% YoY. The auditors (S.R. Batliboi & Co. LLP) issued an unmodified opinion but included two Emphasis of Matter paragraphs: (1) goodwill accounting treatment from the 2016 amalgamation (now fully amortised), and (2) an ongoing income tax dispute under Section 10AA(1) of the Income Tax Act, 1961 with a contingent liability of ₹832 lakhs. An exceptional item of ₹523 lakhs was recorded related to new labour codes. The Board recommended a final dividend of ₹2.15 per share (21.5%) for FY26, subject to shareholder approval at the 19th AGM on 5 August 2026. Bonus shares (1:1) were issued in July 2025.
Revenue growth is healthy at 11-15% but steep PAT decline (~20-33%) and margin compression signal cost pressures. The emphasis of matter on income tax disputes and contingent liability of ₹832 lakhs adds uncertainty for investors. The dividend offer provides some support.