Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q4 FY26 Earnings Presentation
41 slides from Ifgl Refractories's earnings presentation, June 2026
Slide 1: IFGL Refractories Limited Investor Presentation
IFGL Refractories Limited Investor Presentation Q4FY26 - June 2026
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 Q4 & FY26 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 4: Management Commentary
Management Commentary Commenting on the Company's Q4 and FY26 performance, Mr. Mihir Bajoria, Managing Director of IFGL Refractories Limited, said: “FY26 was a year of resilient execution and strategic progress for IFGL. Despite a challenging global operating environment characterized by elevated ra
Slide 5: Q4 & FY26 Standalone Performance Highlights
Q4 & FY26 Standalone Performance Highlights Total Revenue (Rs. Crs) EBITDA (Rs. Crs) Adj. PAT (Rs. Crs)* Key Highlights +10% -10% ✓ Revenue for Q4FY26 grew by 2% YoY, -23% while FY26 revenue increased by 10% 1,117 140 58 1,014 126 YoY, driven primarily by strong 44 domestic market performance and im
Slide 6: Q4 & FY26 Standalone Geography wise Performance
Q4 & FY26 Standalone Geography wise Performance Key Highlights Standalone Revenue from Domestic Revenue (Rs. Crs) Exports Revenue (Rs. Crs) Operations (Rs. Crs) ✓ Revenue from operations for Q4FY26 stood at ₹276 crore, registering a 2% +20% -11% +11% YoY growth. For FY26, revenue from 864 277 1,109
Slide 7: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Profit & Loss [Rs. Crs.] Q4FY26 Q4FY25 Y-o-Y% FY26 FY25 Y-o-Y% Total Income 277.5 273.0 2% 1,116.5 1,013.9 10% Raw Material 158.0 144.2 615.9 522.3 Gross Profit 119.5 128.8 -7% 500.7 491.6 2% Gross Profit % 43.1% 47.2% 44.8% 48.5% Employee Expenses 23.4 25.4 114.6
Slide 8: Standalone Balance Sheet Statement
Standalone Balance Sheet Statement Assets (in Rs. Crs.) Mar-26 Mar-25 Equity & Liabilities (in Rs. Crs.) Mar-26 Mar-25 Non-Current Assets 394.4 423.2 Equity 708.0 693.9 Fixed Assets Share Capital 72.1 36.0 Property Plant & Equipment 262.1 266.7 Other Equity 635.9 657.9 Capital WIP 12.0 7.4 Goodwill
Slide 9: Q4 & FY26 Consolidated Performance Highlights
Q4 & FY26 Consolidated Performance Highlights Key Highlights Total Revenue (Rs. Crs) EBITDA (Rs. Crs) Adj. PAT* (Rs. Crs) ✓ Our consolidated revenue for Q4FY26 stood at ₹486 crore, registering a healthy growth of 7% +14% 0% -7% YoY. For FY26, total revenue increased by 14% 1,904 146 146 43 YoY to ₹1
Slide 10: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit & Loss [Rs. Crs.] Q4FY26 Q4FY25 Y-o-Y% FY26 FY25 Y-o-Y% Total Income 485.9 452.2 7% 1,904.0 1670.4 14% Raw Material 255.5 230.6 989.1 827.1 Gross Profit 230.4 221.6 4% 914.9 843.4 8% Gross Profit % 47.4% 49.0% 48.1% 50.5% Employee Expenses 77.2 76.4 324.6
Slide 11: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Assets (in Rs. Crs.) Mar-26 Mar-25 Equity & Liabilities (in Rs. Crs.) Mar-26 Mar-25 Non-Current Assets 684.3 667.4 Equity 1,174.9 1,107.0 Fixed Assets Share Capital 72.1 36.0 Property Plant & Equipment 417.7 404.0 Other Equity 1,102.8 1,071.0 Capital WIP 40.8 27.
Slide 12: New Project Updates
New Project Updates Products Capex Estimated Expected to be Location Current Status Category (Rs in cr) Operational Khurdha (Greenfield) Dolomite Bricks Rs 300 - 350 crores End of FY28 Project Kicked off Gujarat (Bhachau – Green field Basic Bricks Rs. 300 crores FY29 Under regulatory approval proces
Slide 13: Agenda
Table of Content 01 Q4 & FY26 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 14: 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 15: 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 16: 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 ethical and uphold the highest standards of and services. All our long
Slide 17: 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 17
Slide 18: 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 19: 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 20: 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 21: Strong Leadership Team
Strong Leadership Team Shishir Kumar Bajoria Mihir Bajoria Rajesh Agarwal Chairman Managing Director Director - General Counsel Dynamic Leadership Team for Next Level of Growth Mukesh Rawal Manoj Rakhecha Amit Agarwal Director* Chief Executive Officer - Monocon Chief Financial Officer *Presently, Pr
Slide 22: A Global Player in Refractories..
A Global Player in Refractories..
Slide 23: 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 24: 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 24
Slide 25: 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 26: A Responsible Corporate..
A Responsible Corporate..
Slide 27: Sustainability
Sustainability Sustainability at IFGL At IFGL, sustainability is not a passing trend — it’s ingrained in our purpose and everyday operations. As a responsible multinational with over four decades of leadership in flow-control refractories, we align industrial progress with environmental consciousnes
Slide 28: Sustainability
Sustainability Smart Energy for a Low-Carbon Future We actively reduce our carbon footprint through intelligent energy use — deploying Variable Frequency Drives (VFDs), LED lighting with astronomical timers, transparent roofing for natural illumination, and solar power generation across our plants i
Slide 29: Social Responsibility
Social Responsibility Driving Positive Change Beyond Business At IFGL, sustainability extends beyond our operations — it’s about creating meaningful impact in the lives of people and the environment around us. Our CSR activities are rooted in compassion, inclusion, and shared growth. Community Well-
Slide 30: Agenda
Table of Content 01 Q4 & FY26 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 31: Consolidated Historical Financial Highlights
Consolidated Historical Financial Highlights Total Income (Rs. Crs) EBITDA (Rs. Crs) Profit After Tax (Rs. Crs) 1,904.0 212.8 81.7 77.5 79.2 1,658.3 1,670.4 166.1 1,399.7 158.5 1,275.4 146.0 145.8 43.0 39.9 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24# FY25 FY25 FY22 FY23 FY24 FY25 FY26* #Before One-off
Slide 32: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Particulars [Rs. Crs.] FY26 FY25 FY24 FY23 FY22 Total Income 1,904.0 1,670.4 1,658.3 1,399.7 1,275.4 Materials consumed 989.1 827.1 831.5 722.8 614.6 Employee Expenses 324.6 281.2 250.3 194.8 173.9 Other Expenses 444.6 416.2 363.7 316.0 328.4 EBITDA be
Slide 33: Consolidated Historical Balance Sheet Statement
Consolidated Historical Balance Sheet Statement Assets (in Rs. Crs.) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Equity & Liabilities (in Rs. Crs.) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Non-Current Assets 684.3 667.4 652.2 589.8 480.9 Equity 1,174.9 1,107.0 1,072.1 1005.0 934.0 Fixed Assets Share Capital 72.1 3
Slide 34: Balance Sheet Evolution Supporting Future Growth
Balance Sheet Evolution Supporting Future Growth Total Debt (Rs. Crs) Cash & Equivalents (Rs. Crs) Net Debt (Rs. Crs) FY22 FY23 FY24 FY25 FY26 202.4 195.6 262.7 163.0 73.7 148.5 194.3 202.1 33.0 169.4 87.1 121.9 -45.9 -39.1 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 -175.6 Net Debt : Equity (
Slide 35: Key Consolidated Historical Ratios
Key Consolidated Historical Ratios Working Capital (Rs. Crs) Inventories (Rs. Crs) Receivables (Rs. Crs) 604.4 404.7 411.4 425.1 528.3 349.8 359.4 465.7 446.5 325.0 302.0 300.7 259.4 272.0 344.2 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Return on Equity (%) Return on
Slide 36: Consistent Dividend Payout
Consistent Dividend Payout 70.0% 70.0% 70.0% 70.0% Maintained shareholder returns while allocating capital towards high-return growth capex opportunities. 21.5% FY22 FY23 FY24 FY25 FY26 Particulars (Rs.) FY22 FY23 FY24 FY25 FY26 Consolidated Book Value Per Share 259.2 278.9 297.5 307.2 163.0 Consoli
Slide 37: Agenda
Table of Content 01 Q4 & FY26 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 38: 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 39: Global Steel Demand Outlook
Global Steel Demand Outlook In MT Emerging Markets & Developing World India World (Ex China) economies (Ex- China & India) +1.3% +8.3% +3.0% +1.3% 1,718 1,724 1,762 172 187 922 940 978 414 416 430 160 2025 2026F 2027F 2025 2026F 2027F 2025 2026F 2027F 2024 2026F 2027F ➢ Global outlook: ▪ Global stee
Slide 40: Top Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2025 2026F 2027F -0.8% 796.0 784.1 784.1 +8.3% 187.4 159.8 171.6 +1.9% 90.9 92.4 94.3 +0.7% +0.7% 48.0 47.9 48.7 43.6 43.7 44.2 China India United States Japan South Korea India is expected to maintain its strong momentum, with robust growth in steel demand from
Slide 41: 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 /