IFGL Refractories Limited — PPTs, 12-08-2025: Investor Presentation

Here's a summary of the Q1FY26 Investor Presentation:

**1. Financial Highlights:**

IFGL Refractories saw Q1FY26 consolidated total income rise 8% YoY to ₹457 Cr. Standalone total income grew 12% to ₹278 Cr, driven by robust 32% domestic revenue growth (₹213 Cr). However, export revenues declined 22% to ₹63 Cr. Profitability was pressured by high raw material costs and global slowdown: Consolidated EBITDA fell 26% to ₹39 Cr (8.5% margin), and Standalone EBITDA dropped 15% to ₹38 Cr (13.5% margin). Consolidated PAT was ₹11 Cr, and Standalone PAT was ₹15 Cr.

**2. Strategic Initiatives & Growth Drivers:**

The company is benefiting from its deepened domestic market presence amidst global volatility. A new 60TPD automatic continuous tempering kiln was inaugurated at the Vizag unit, boosting high-performance magnesia carbon brick production. Significant capex plans include a greenfield Dolomite Bricks plant in Khurdha (₹300-350 Cr, FY28) and a Basic Bricks JV in Gujarat (₹300 Cr, FY29). IFGL is also expanding into the non-steel refractories segment.

**3. Business Developments:**

IFGL's UK step-down subsidiary, Monocon International Refractories Limited, has established a wholly-owned subsidiary in Australia, significantly expanding its geographic footprint.

**4. Market Position & Competitive Advantage:**

India continues as a strong driver of steel demand, projected to grow 8% in 2024-2025, fueled by infrastructure investment. IFGL's strategic focus on the domestic market provides a competitive edge, leveraging its 10 global manufacturing units and service to over 50 countries.

**5. Investor Implications:**

Strong domestic growth, strategic capacity expansions, and new market entries indicate positive growth potential for IFGL. However, investors should observe profitability trends given ongoing raw material cost pressures and global export market softness.