Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q2 FY25 Earnings Presentation
44 slides from Ifgl Refractories's earnings presentation, November 2024
Slide 1: IFGL Refractories Limited Investor Presentation
IFGL Refractories Limited Investor Presentation Q2FY25 - November 2024
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), prepared by IFGL Refractories Limited (the “Company”), are solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the
Slide 3: Agenda
Table of Contents 01 Q2 & H1FY25 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 4: Management Commentary
Management Commentary Commenting on the Q2FY25 performance of the company Mr. James McIntosh, Managing Director for IFGL Refractories Limited Said, “During Q2FY25, we achieved a consolidated Total Income of ₹415 crores. Despite the challenges faced in our overseas markets due to slowdowns that impac
Slide 5: Key Highlights
Key Highlights Payment of Odisha Land • Payment of Rs. 12,17,33,532/- to ‘Odisha Industrial Infrastructure Development Corporation on account of Land and for setting up manufacturing facility of DBM Bricks JV Agreement with Marvels International Group of Seychelles and Marvel Refractories of P R Chi
Slide 6: IFGL's Joint Venture with Marvels International Group & Marvels Refractories
IFGL’s Joint Venture with Marvels International Group & Marvels Refractories IFGL Refractories will set up a joint venture company in India with Marvels International Group Co. Ltd of Seychelles and Marvel Refractories (Anshan) Co. Ltd. of PR China to enhance brick production capabilities in the cou
Slide 7: Q2 & H1FY25 Standalone Performance Highlights
Q2 & H1FY25 Standalone Performance Highlights Total Revenue (Rs. Crs) EBITDA (Rs. Crs) PAT (Rs. Crs) Key Highlights +2% -25% -32% 494 506 104 53 ✓ Total revenue for Q2FY25 stood at -2% -42% 78 -55% Rs. 257 crores, reflecting a year- 36 57 30 on-year decline of 2%. However, 264 257 for H1FY25, total
Slide 8: H1FY25 Standalone Geography wise Performance
H1FY25 Standalone Geography wise Performance Domestic Revenue (Rs. Crs) Exports Revenue (Rs. Crs) Standalone Revenue (Rs. Crs) Key Highlights +15% +2% -18% ✓ Revenue from operations for H1FY25 stood 340.6 189.3 486.7 495.2 297.4 at Rs. 495 crs representing a growth of 2% 154.6 on a Y-o-Y basis. ✓ Ou
Slide 9: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Profit & Loss [Rs. Crs.] Q2FY25 Q2FY24 Y-o-Y% H1FY25 H1FY24 Y-o-Y% Total Income 257.4 263.5 -2% 505.7 493.8 2% Raw Material 134.1 130.6 253.4 242.6 Gross Profit 123.2 133.0 -7% 252.3 251.2 0% Gross Profit Margins (%) 47.9% 50.5% 49.9% 50.9% Employee Expenses 23.7 1
Slide 10: Standalone Balance Sheet Statement
Standalone Balance Sheet Statement Assets (in Rs. Crs.) Sep-24 Mar-24 Equity & Liabilities (in Rs. Crs.) Sep-24 Mar-24 Non-Current Assets 439.5 418.5 Equity 672.3 662.0 Fixed Assets Share Capital 36 36 Property Plant & Equipment 243.1 183 Other Equity 636.3 625.9 Capital WIP 37.1 77.2 Goodwill 40.1
Slide 11: Q2 & H1FY25 Consolidated Performance Highlights
Q2 & H1FY25 Consolidated Performance Highlights Total Revenue (Rs. Crs) EBITDA (Rs. Crs) PAT (Rs. Crs) -32% -6% -46% Key Highlights 887 131 68 837 -10% -49% -68% ✓ Total revenue for Q2FY25 stood at 90 72 38 37 Rs. 415 crores, reflecting a year-on- 459 415 year decline of 10%. For H1FY25, 37 total re
Slide 12: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit & Loss [Rs. Crs.] Q2FY25 Q2FY24 Y-o-Y% H1FY25 H1FY24 Y-o-Y% Total Income 415.0 459.5 -10% 836.5 886.8 -6% Raw Material 201.0 227.3 403.9 438.5 Gross Profit 214.0 232.2 -8% 432.6 448.3 -4% Gross Profit Margins (%) 51.6% 50.5% 51.7% 50.6% Employee Expenses 6
Slide 13: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Assets (in Rs. Crs.) Sep-24 Mar-24 Equity & Liabilities (in Rs. Crs.) Sep-24 Mar-24 Non-Current Assets 685.2 652.2 Equity 1,103.8 1,072.1 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 365.4 304.1 Other Equity 1,067.7 1,036.0 Capital WIP 67 104.1
Slide 14: Agenda
Table of Content 01 Q2 & H1FY25 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 15: IFGL Refractories at a Glance (1/2)
IFGL Refractories at a Glance (1/2) ❖ IFGL is one of the fastest growing brands in the global refractory industry. We offer a wide range of specialised refractory products and operating systems for our products to our customers worldwide. About ❖ With 10 strategically located manufacturing units acr
Slide 16: IFGL Refractories at a Glance (2/2)
IFGL Refractories at a Glance (2/2) ❖ We have a diverse technical workforce, a large pool of trained engineers and application specialists who understand the importance of their roles in ensuring that About our company delivers success to customers through state-of-the-art technology. IFGL Refractor
Slide 17: Our Core Values
Our Core Values Integrity Agility & Customer Focus We will do the right thing even when no one is Our customers are the ultimate judge of our watching. We will be intellectually honest, performance and the quality of our products and ethical and uphold the highest standards of services. All our long
Slide 18: Our Ethos
Our Ethos By adhering to the core values of our company, we will be the supplier of choice for our customers. Corporate Image Respectability Sustainability Profitability Growth Agility and Sustainable Innovation Integrity People-First Customer Focus Growth 18
Slide 19: About Group Companies
About Group Companies Our group companies comprise IFGL Refractories and its subsidiaries, all operating in specialised refractories and operating-systems segment. With manufacturing capability across 10 locations across Asia, Europe and North America, we enjoy strategic supply edge to cater to cust
Slide 20: About Group Companies
About Group Companies hofmann CERAMiC GmbH was founded in 1937. For over 9 decades, the company has been laying down the benchmark in high-quality ceramic manufacturing. Skilled workforce, latest technologies, and quality adherence to design, manufacturing & installation of products, as per the exac
Slide 21: Global Presence
Global Presence From state-of-the-art Manufacturing Facilities at 10 global locations to Sales & Marketing network across 50+ countries, IFGL enjoys global recognition as a provider of quality refractory solutions to our customers. Our strategic presence across the world creates a valuable competiti
Slide 22: Board of Directors
Board of Directors Shishir Kumar Bajoria Chairman Shishir Kumar Bajoria, son of Late B P Bajoria, fondly known as SKB, is a well-known Indian industrialist. He is the Promoter of S K Bajoria Group and is engaged in diversified business activities like manufacturing of Specialised Refractories for th
Slide 23: Board of Directors
Board of Directors James McIntosh Arasu Shanmugam Managing Director Director & CEO India Arasu comes with 30+ years of experience in the refractories James McIntosh, holder of a Master’s Degree in Technological industry. A Post-Graduate (M.Tech.) in Ceramic Technology Marketing, has experience of mo
Slide 24: Board of Directors
Board of Directors Sudhamoy Khasnobis D G Rajan Board Member Board Member Sudhamoy Khasnobis, an Engineering Graduate, is a career D.G. Rajan is a Fellow of the Institute of Chartered banker with broad and diversified experience in development Accountants in England & Wales and of India. He was a ba
Slide 25: A Global Player in Refractories..
A Global Player in Refractories..
Slide 26: Key Product Portfolio
Key Product Portfolio Tap Hole Sleeve & Block Tap Hole Mass Hot Patching Mass Pre Tap Plugs Precast Roof Slag Dart Machines EBT Tap Hole Sleeve & Block Slag Dart Refractories Tap hole ramming mass Delta Castable & Dart Machine Accessories Tundish Lining Tundish Tundish Flow Modifiers Slide Gate Refr
Slide 27: Key Product Portfolio
Key Product Portfolio Coil Coating Mass Neutral Ramming Mass Purging Refractories Sub Entry Nozzle / Shroud Tundish Covering Compound Burner Blocks Casting Flux Precast Hearth and Skid Blocks Tundish Metering Nozzle Ladle Well Filler EBT Filling Mass Precast Skid Pipe Cladding 27
Slide 28: Solutions Offerings - Foundry
Solutions Offerings - Foundry Foundry With more than seventy years of experience our group company Hofmann Ceramic GmbH provides innovative solutions and technical ceramics products related to the foundry industry, and is the specialist in the field of mold filling and solidification. We support cus
Slide 29: A Responsible Corporate..
A Responsible Corporate..
Slide 30: Sustainability
Sustainability As a responsible corporate entity, IFGL constantly strives to drive sustainability through a holistic approach. From understanding the true essence of sustainable actions, to establishing the tiers of responsibility and integrating justifiable elements at every stage, sustainability i
Slide 31: Sustainability
Sustainability Ensuring The Welfare Of All Stakeholders Through the implementation of the latest safety protocols, production parameters and efficient processes, IFGL ensures that the health & well-being of our employees or our esteemed customers are never put at any risk. The robust safety culture,
Slide 32: Social Responsibility
Social Responsibility Maintaining a seamless balance between business, sustainability, and growth has always been a priority at IFGL. Through nurturing the latent potential of our people, and ensuring smooth integration with Mother Nature, we have established mutual exclusivity of the two. As a resp
Slide 33: Agenda
Table of Content 01 Q2 & H1FY25 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 34: Consolidated Historical Financial Highlights
Consolidated Historical Financial Highlights Total Income (Rs. Crs) EBITDA (Rs. Crs) Profit After Tax (Rs. Crs) +8% CAGR Growth +17% 1,658.3 +7% 212.8 81.7 CAGR Growth CAGR growth 77.5 79.2 1,399.7 175.9 166.1 65.6 1,275.4 158.5 1,042.5 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24# FY21 FY22 FY23 FY24 #B
Slide 35: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Particulars [Rs. Crs.] FY24 FY23 FY22 FY21 Total Income 1,658.3 1,399.7 1,275.4 1,042.5 Materials consumed 831.5 722.8 614.6 474.0 Employee Expenses 250.3 194.8 173.9 151.8 Other Expenses 363.7 316.0 328.4 240.8 EBITDA before Exceptional Item 212.8 166
Slide 36: Consolidated Historical Balance Sheet Statement
Consolidated Historical Balance Sheet Statement Assets (in Rs. Crs.) Mar-24 Mar-23 Mar-22 Mar-21 Equity & Liabilities (in Rs. Crs.) Mar-24 Mar-23 Mar-22 Mar-21 Non-Current Assets 652.2 589.8 480.9 456.4 Equity 1,072.1 1005.0 934.0 890.5 Fixed Assets Share Capital 36.0 36.0 36.0 36.0 Property Plant &
Slide 37: Creating sustainable value for Shareholders
Creating sustainable value for Shareholders Total Debt (Rs. Crs) Cash & Equivalents (Rs. Crs) Net Debt (Rs. Crs) 178.0 321.9 FY21 FY22 FY23 FY24 H1FY25 163.0 148.5 262.7 -15.3 202.1 -45.9 -39.1 194.3 193.3 87.1 51.6 -175.6 FY21 FY22 FY23 FY24 H1FY25 FY21 FY22 FY23 FY24 H1FY25 -270.3 Net Debt : Equit
Slide 38: Key Consolidated Historical Ratios
Key Consolidated Historical Ratios Working Capital (Rs. Crs) Inventories (Rs. Crs) Receivables (Rs. Crs) 465.7 324.5 349.8 446.5 450.1 302.0 300.7 325.0 321.8 259.4 272.0 344.2 228.2 241.0 167.8 FY21 FY22 FY23 FY24 H1FY25 FY21 FY22 FY23 FY24 H1FY25 FY21 FY22 FY23 FY24 H1FY25 Return on Equity (%) Ret
Slide 39: Consistent Dividend Payout
Consistent Dividend Payout 100.0% 70.0% 70.0% 70.0% 25.0% 25.0% FY19 FY20 FY21 FY22 FY23 FY24 Particulars (Rs.) FY19 FY20 FY21 # FY22 FY23 FY24 Consolidated Book Value Per Share 220.5 224.5 247.1 259.2 278.9 297.5 Consolidated Earning Per Share 14.0 11.1* 23.8* 21.5 21.9 22.66 Dividend Per Share 2.5
Slide 40: Agenda
Table of Content 01 Q2 & H1FY25 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 41: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Infrastructure development and demand from the various sectors Huge export opportunity for India due to its low cost advantage & Centre aims at covering refractories in PLI 2.0 to support steel industry Growth Drivers will boost usage of In Union Budget it is
Slide 42: Global Steel Demand Outlook
Global Steel Demand Outlook In MT Emerging Markets & Developing World India World (Ex China) economies (Ex- China & India) +0.1% +8.2% +2.3% +6.8% 1,767 1,751 1,772 143 156 871 882 911 239 255 133 224 2023 2024F 2025F 2023 2024F 2025F 2023 2024F 2025F 2023 2024F 2025F ➢ Global outlook: ▪ As per WSA,
Slide 43: Top Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2023 2024F 2025F -2.0% 895.7 868.8 860.1 +8.2% 155.6 132.8 143.4 +0.3% 90.5 89.2 91.0 -0.2% -2.2% 53.3 52.2 53.1 52.4 50.4 50.1 China India United States Japan South Korea India is expected to maintain its strong momentum, with robust growth in steel demand from
Slide 44: Thank You
Thank You Company: Investor Relations Advisor: IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mrs. Mansi Damani Mr. Sagar Shroff / Mr. Vatsal Shah mansi.damani@ifgl.in sagar.shroff@sgapl.net / vatsal.shah@sgapl.net +91 98205 19303 /