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Swing Capital

IFB Industries Ltd

NSE: IFBIND BSE: 505726

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]

₹1,084
52W: ₹883 — ₹2025
PE 33.3 · Book ₹231 · +369% vs book
Market Cap₹4,390 Cr
Stock P/E33.3Price to Earnings
ROCE19.8%Return on Capital
ROE16.2%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 37.3% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 4.72 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 10.1% over last 3 years.

Shareholding Pattern

Promoters74.96%
FIIs0.92%
DIIs6.16%
Public17.96%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%
FIIs0.83%1.11%▲0.30.91%▼0.21.06%▲0.20.76%▼0.30.92%▲0.20.96%▲0.00.92%▼0.0
DIIs6.74%6.7%▼0.06.8%▲0.16.41%▼0.46.26%▼0.26.22%▼0.06.03%▼0.26.16%▲0.1
Public17.46%17.22%▼0.217.33%▲0.117.57%▲0.218.02%▲0.417.89%▼0.118.04%▲0.117.96%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,0681,1331,0551,2371,1771,2281,3001,3011,3201,375
Expenses9991,0701,0121,1581,1101,1421,2421,2411,2241,301
Operating Profit69634379668658609674
OPM %6%6%4%6%6%7%4%5%7%5%
Net Profit29241439333422255025
EPS ₹7.085.853.429.598.228.485.56.2612.286.05

AI Insights

Revenue Trend

TTM revenue at ₹5,297Cr, up 7.2% YoY. OPM at 5%.

Debt Position

Borrowings at ₹164Cr. Debt-to-equity ratio: 0.18x. Healthy balance sheet.

Capex Cycle

CWIP at ₹22Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 6.16% (+1.98pp change). FIIs: 0.92% (-0.92pp change). Promoters hold 74.96%.

Margin & Efficiency

ROCE improving from 9% (Mar 2014) to 20% (Mar 2025). Working capital days: -3.

Valuation

PE 33.3x with 19.8% ROCE. Price is 369% above book value of ₹231. Dividend yield: 0%.

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