IFGL Refractories Limited has informed the Exchange about Transcript
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IFGL Refractories reported its highest-ever standalone revenue of INR 1,014 crores in FY25, up 11% year-on-year, driven by a 20% growth in the domestic business which now contributes 72% of standalone revenue. Q4 standalone revenue grew 26% to INR 273 crores with EBITDA margin of 14.8%. Consolidated FY25 revenue was largely flat at INR 1,670 crores with EBITDA margin of 8.7%, weighed down by weak foundry demand in Germany and sluggish US markets, though early recovery signs are visible in the US. The Board recommended a dividend of INR 7 per share (70% payout) and a 1:1 bonus issue subject to approvals. Management guided capex of ~INR 90 crores for FY26 (rising in FY27) for the Khurdha DBM bricks project and the INR 300 crore JV with Marvel Group (commercial production from FY29), and reiterated standalone EBITDA margin guidance of 14%+ with new projects expected to deliver 20-30% margins.
Strong domestic growth and shareholder rewards (dividend plus bonus) are positives, but weak international subsidiary performance continues to drag consolidated margins. New high-margin projects (non-ferrous, cement JV, DBM bricks) provide a clear medium-term growth story starting FY28-29, though near-term consolidated profitability remains under pressure from European and US operations.