IFB Industries Ltd
IFB Industries Ltd
Consumer GoodsKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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55 extracted metrics + investor summaries across FY17–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
2- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 11.9% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
IFB Industries Ltd is a mid-cap consumer discretionary company with a market cap of ₹5,158 Cr, trading at a PE of 36.2x. The company has shown strong profit growth of 45% TTM and improving ROE from 7% (5-year average) to 17% (last year), though the stock has declined 17% over the past year and pays no dividend.
- TTM profit growth of 45% indicates strong earnings momentum and operational improvement
- ROE has improved sharply from 7% (5-year average) to 17% in the last year, suggesting better capital efficiency
- Company has delivered compounded profit CAGR of 19.2% over the last 5 years
- 3-year compounded profit growth of 151% reflects a significant turnaround from a low base
- Compounded sales growth of 10% over 3 years and 15% over 5 years shows consistent top-line expansion
- Company has actively reduced debt, improving balance sheet strength
- 10-year stock CAGR of 14% demonstrates long-term wealth creation track record
- PE of 36.2x is elevated for a consumer discretionary company with 10% TTM sales growth, implying rich valuation
- Stock has declined 17% over the past 1 year despite improving fundamentals, indicating market skepticism
- Zero dividend yield — company is not paying out dividends despite reporting repeated profits
- 3-year average ROE of only 12.7% is modest relative to the premium valuation multiple
- Price-to-book ratio of 5.23x is demanding and leaves limited margin of safety
- 5-year stock CAGR of only 4% suggests prolonged periods of underperformance for investors
- 5-year average ROE of just 7% indicates historically weak return generation on shareholder equity
- 151% 3-year profit CAGR is partly base-effect driven, making forward growth sustainability uncertain
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- New MD & CEO appointed Jun 25
Shareholders approved appointment of Sandeep Joseph Abraham as Managing Director & CEO, along with directors Arup Das and Manoj Kumar Vijay via postal ballot, signaling leadership stability.
- 50th AGM scheduled Jul 29 Jul 3
IFB Industries will hold its 50th AGM on July 29, 2026 via video conferencing, with book closure from July 23 to July 29, 2026.
TL;DR: IFB Industries is in a phase of leadership transition with a newly appointed MD & CEO, which provides management clarity going forward. No material headwinds emerged in recent news flow. The upcoming AGM on July 29 may offer further visibility on strategy and financials. Overall, the near-term newsflow is stable with a mildly positive governance signal.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,086 | 1,101 | 1,161 | 1,090 | 1,269 | 1,219 | 1,270 | 1,334 | 1,338 | 1,370 | 1,413 | 1,498 | 1,585 |
| Expenses | 1,055 | 1,038 | 1,103 | 1,048 | 1,190 | 1,154 | 1,186 | 1,278 | 1,277 | 1,272 | 1,338 | 1,420 | 1,496 |
| Operating Profit | 30 | 63 | 58 | 42 | 79 | 66 | 83 | 56 | 62 | 98 | 74 | 79 | 89 |
| OPM % | 2.8% | 6% | 5% | 3.9% | 6% | 5% | 7% | 4.2% | 4.6% | 7% | 5% | 5% | 6% |
| Other Income | 8 | 6 | 7 | 11 | 7 | 13 | 4 | 11 | 10 | 7 | -6 | 13 | 6 |
| Interest | 7 | 7 | 7 | 7 | 5 | 4 | 8 | 7 | 6 | 5 | 5 | 5 | 5 |
| Depreciation | 30 | 30 | 32 | 32 | 30 | 31 | 38 | 34 | 31 | 30 | 31 | 30 | 33 |
| PBT | 1 | 31 | 26 | 15 | 51 | 43 | 42 | 27 | 35 | 70 | 32 | 56 | 57 |
| Tax % | 211% | 31% | 34% | 19% | 27% | 27% | 26% | 29% | 25% | 27% | 24% | 24% | 25% |
| Net Profit | -1 | 22 | 17 | 12 | 38 | 31 | 31 | 19 | 26 | 51 | 24 | 43 | 43 |
| EPS in Rs | -0.15 | 5.31 | 4.31 | 2.96 | 9.26 | 7.75 | 7.67 | 4.66 | 6.46 | 12.53 | 5.91 | 10.53 | 10.62 |
Profit & Loss
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,758 | 2,220 | 2,657 | 2,637 | 2,801 | 3,415 | 4,195 | 4,438 | 5,092 | 5,619 | 5,866 |
| Expenses | 1,657 | 2,060 | 2,529 | 2,514 | 2,588 | 3,367 | 4,031 | 4,242 | 4,805 | 5,299 | 5,526 |
| Operating Profit | 102 | 160 | 128 | 123 | 213 | 49 | 164 | 196 | 287 | 321 | 340 |
| OPM % | 6% | 7% | 4.8% | 4.7% | 8% | 1.4% | 3.9% | 4.4% | 6% | 6% | 6% |
| Other Income | 13 | 16 | 32 | 14 | 22 | 28 | 23 | 32 | 35 | 19 | 19 |
| Interest | 6 | 7 | 8 | 18 | 34 | 35 | 33 | 31 | 27 | 25 | 20 |
| Depreciation | 44 | 54 | 58 | 92 | 102 | 115 | 122 | 124 | 132 | 122 | 124 |
| PBT | 65 | 115 | 94 | 27 | 99 | -74 | 32 | 73 | 163 | 192 | 215 |
| Tax % | 20% | 31% | 24% | 4% | 35% | -35% | 54% | 31% | 27% | 25% | — |
| Net Profit | 52 | 79 | 71 | 26 | 64 | -48 | 15 | 50 | 119 | 144 | 160 |
| EPS in Rs | 13.15 | 19.98 | 18 | 6.76 | 15.82 | -11.89 | 3.69 | 12.43 | 29.35 | 35.43 | 39.59 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Reserves | 428 | 507 | 577 | 605 | 655 | 607 | 626 | 676 | 801 | 954 |
| Borrowings | 40 | 32 | 31 | 357 | 293 | 363 | 353 | 164 | 250 | 156 |
| Other Liabilities | 397 | 538 | 619 | 662 | 903 | 1,019 | 1,086 | 1,298 | 1,266 | 1,333 |
| Total Liabilities | 907 | 1,118 | 1,268 | 1,665 | 1,891 | 2,030 | 2,107 | 2,180 | 2,358 | 2,484 |
| Fixed Assets | 329 | 339 | 358 | 625 | 654 | 698 | 695 | 629 | 695 | 700 |
| CWIP | 14 | 7 | 24 | 10 | 21 | 15 | 21 | 16 | 13 | 16 |
| Investments | 54 | 93 | 27 | 153 | 260 | 229 | 186 | 263 | 254 | 313 |
| Other Assets | 509 | 679 | 859 | 877 | 956 | 1,088 | 1,205 | 1,271 | 1,395 | 1,456 |
| Total Assets | 907 | 1,118 | 1,268 | 1,665 | 1,891 | 2,030 | 2,107 | 2,180 | 2,358 | 2,484 |
Cash Flow
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 85 | 124 | 45 | 184 | 292 | 51 | 106 | 351 | 118 | 299 |
| Investing | -95 | -92 | -33 | -374 | -187 | -27 | -6 | -137 | -90 | -149 |
| Financing | 9 | -13 | -5 | 223 | -112 | -51 | -94 | -186 | -23 | -138 |
| Net Cash Flow | -2 | 20 | 6 | 33 | -7 | -28 | 6 | 28 | 5 | 11 |
| Free Cash Flow | 21 | 86 | -4 | -39 | 200 | -22 | 40 | 286 | 12 | 190 |
| CFO/OP | 97 | 91 | 55 | 158 | 140 | 116 | 66 | 184 | 57 | 109 |
Ratios
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30 | 31 | 34 | 28 | 35 | 33 | 36 | 38 | 31 | 28 |
| Inventory Days | 87 | 93 | 94 | 94 | 108 | 102 | 82 | 75 | 79 | 68 |
| Days Payable | 97 | 112 | 107 | 116 | 153 | 144 | 118 | 135 | 111 | 106 |
| Cash Conversion Cycle | 19 | 11 | 22 | 6 | -10 | -8 | -1 | -22 | -1 | -10 |
| Working Capital Days | 9 | 14 | 18 | 5 | -9 | -14 | -7 | -11 | -2 | 2 |
| ROCE % | — | 20% | 13% | 5% | 13% | -4% | 6% | 10% | 18% | 20% |
Documents
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Company Information
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] The company operates two businesses--manufacturing of consumer durables and producing fine blank components (part of engineering segment) and goods. It manufactures fine blanking components for two wheelers, four wheelers, heavy vehicles and electrical OEMs. The company has a diversified product portfolio, comprising front- and top-load washing machines, dryers, ACs, microwave ovens, dishwashers, modular kitchens and chimneys.[2]