IFGL Refractories Witnesses Heavy Buying with 300% Growth in 3 Year

IFGL Refractories Limited has delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price surged from Rs 146.50 on November 06, 2020, to Rs 603 on November 06, 2023, representing an increase of over 300% in a three-year holding period.

An investment of Rs 1 lakh in this company’s shares three years ago would have grown to Rs 4 lakh today.

Financial Performance:

IFGL Refractories Limited reported a strong second quarter for FY24, with net sales growth of 32.77% to Rs 455.52 crore, compared to Rs 343.08 crore in the same quarter last year. The operating profit also experienced a significant increase of 84.99%. The net profit for the quarter stood at Rs 38.00 crore, which was Rs 19.45 crore in the previous year’s same quarter, representing a 95.37% growth. The company has a ROCE of 10.1% and an ROE of 8.22% with a market capitalization of Rs 2,173 crore.

Business Overview:  

IFGL Refractories is a manufacturer of Specialised Refractories and requisite Operating Systems for the Iron and Steel Industry. The company is engaged in manufacture of Iso-statically pressed Continuous Casting Refractories for use by producers of Iron and Steel. The Continuous Casting Refractories Plant set up in technical collaboration with Krosaki Harima Corporation, Japan (then known as Harima Ceramics Corporation) started production in 1993 manufacturing Isostatically Pressed Continuous Casting Refractories and Magnesia Carbon Tap Hole Sleeves.

Stock Price Movement:

Today, the stock opened at Rs 566.05, with a high and low of Rs 603 and Rs 560.10, respectively. The stock closed trading at Rs 5855.05, which increased by 16.43%. The stock has a 52-week high of Rs 603 and a 52-week low of Rs 196.95.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.