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IFB Industries Q2 FY27 Share Price & Earnings Call Analysis

₹1,048.40+0.65% today
Market cap
₹4,247 Cr
P/E
27.18
ROE
14.47%
PEG
0.28
Price to sales
0.74
Debt to equity
0.15
52W high / low
₹1,956 / ₹894
Sales growth (5Y)
14.79%
EBITDA margin
5.72%
Net profit margin
2.46%
Promoter holding
74.96%
Sales (last year)
₹5,666 Cr

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]

Guidance scorecard · Q2 FY27 call

What IFB Industries Ltd's management guided
and where it ranks in Consumer Durables

#25of 87 in
Consumer Durables
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • IFB Industries aims for a 20% growth in sales/revenue, with Q1 18% growth indicating they are close to this target.
  • The Engineering division targets INR 2,000 crores revenue, expecting around 20-25% growth over 3-4 years.
  • Growth in front-load washing machines was around 9-10% in Q1; top load washing machine volume growth was over 20%; AC segment growth is 6-8% with aspirations to reach 7-10% market share.
  • IFB expects continued growth across all home appliance categories, with potential capacity debottlenecking rather than new capacity additions.

2 more points from IFB Industries Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what IFB Industries Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Engineering division capex is about INR110 crores for the full year.
  • Planned capex of around INR400 crores for Stamping division capacity enhancement in Gujarat, Gurgaon, and Bangalore.
  • Land acquired in Gujarat for EV battery and stamping projects.
  • Battery project (lithium-ion) on hold due to Tata Sons' decision; active discussions ongoing.
  • New business alignment is critical before progressing with stamping capacity capex.
  • Existing Engineering business expected to grow ~20% annually, supported by these investments.

2 more points from IFB Industries Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what IFB Industries Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The battery project (lithium-ion) has received an LOI but is currently on hold due to Tata Sons' uncertain support and internal Tata Group developments.
  • Discussions with Tata Agratas are ongoing to determine the project's continuation.
  • Other new projects and businesses with OEMs are in progress, with confirmed LOIs amounting to around INR250 crores.
  • The company has acquired land in Gujarat for the battery and stamping projects but has postponed major investments pending clarity on the battery project.

2 more points from IFB Industries Ltd's call on the order book

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Full Q1 FY27 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does IFB Industries Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

Financials of IFB Industries Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

IFB Industries Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%
FIIs +0.70%0.75%0.83%1.11%0.91%1.06%0.76%0.92%0.96%0.92%0.79%0.75%
DIIs +3.57%6.59%6.74%6.70%6.80%6.41%6.26%6.22%6.03%6.16%6.15%5.60%
Public +20.77%17.71%17.46%17.22%17.33%17.57%18.02%17.89%18.04%17.96%18.09%18.69%
No. of Shareholders26,73126,08028,24030,84231,35035,67333,46931,34831,47733,56934,51633,904

Financials of IFB Industries Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,0681,1331,0551,2371,1771,2281,3001,3011,3201,3751,4471,5241,505
Expenses +9991,0701,0121,1581,1101,1421,2421,2411,2241,3011,3761,4411,422
Operating Profit69634379668658609674728384
OPM %6%6%4.1%6%6%7%4.5%4.6%7%5%4.9%5%6%
Other Income +6711713411107-6967
Interest7775487655555
Depreciation30313129303733302931293232
Profit before tax38321652454529346832455254
Tax %25%27%15%26%25%23%24%25%27%23%26%26%27%
Net Profit +29241439333422255025343840
EPS in Rs7.085.853.429.598.228.485.506.2612.286.058.329.399.76

Financials of IFB Industries Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,2621,5011,7412,1522,5382,5512,7313,3394,1044,3124,9425,4435,851
Expenses +1,1741,4311,6361,9912,4122,4312,5333,2953,9434,1014,6505,1385,539
Operating Profit877010416112612119944161211293305312
OPM %7%4.7%6%7%5.0%4.7%7%1.3%3.9%4.9%6%6%5%
Other Income +15131315321432282632351915
Interest335671633343330272520
Depreciation414544515589100113119122129119124
Profit before tax593568119963097-773490171180183
Tax %16%11%19%30%23%6%36%-33%50%24%25%26%
Net Profit +50315583742862-511769129133136
EPS in Rs12.277.7413.6120.5518.256.9115.36-12.644.2517.0031.7932.9133.52
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Financials of IFB Industries Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital41414141414141414141414141
Reserves3463774305095796066465966156858179521,029
Borrowings +3416282214344285357348162249153164
Other Liabilities +3503573815105696228841,0041,0671,2751,2431,2981,453
Total Liabilities7717918811,0821,2041,6141,8571,9992,0722,1632,3502,4442,688
Fixed Assets +273274305294313570626672669606671668710
CWIP62414722820132015121538
Investments52176312661186282251210311321380387
Other Assets +4414774996558088499281,0621,1721,2301,3461,3811,552
Total Assets7717918811,0821,2041,6141,8571,9992,0722,1632,3502,4442,688

Financials of IFB Industries Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +8249931185016529845107349103291
Cash from Investing Activity +-90-21-104-91-31-362-186-26-7-140-89-145
Cash from Financing Activity +-15-219-10-10228-119-50-93-183-22-140
Net Cash Flow-237-217831-6-31727-85
Free Cash Flow1-1730844-46208-2740286-2189
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit111%82%102%86%60%145%153%116%68%171%50%112%

Financials of IFB Industries Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days262829293026333235373026
Inventory Days115918594979411010483778170
Days Payable1169695111102111153145119137113106
Cash Conversion Cycle242319122510-10-9-1-23-1-10
Working Capital Days4111016209-10-15-8-12-31
ROCE %13%7%15%22%14%5%13%-4%7%13%18%18%

Guidance history

How IFB Industries Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedPlanned—
Q4 FY26 call →20–40%FlatPlanned—Rising
Q3 FY26 call →20–40%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

11out of 100

Momentum score · price trend

11 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−46.4%6%
Last 6 months−8.3%40%
Last 3 months−20.1%16%

The price is 53.8% below its all-time high of ₹2,269.55 (18 Oct 2024). Stocks more than 20% below their peak have their score halved, so 22 became 11.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For IFB Industries Ltd: 0.4 × 6 + 0.4 × 40 + 0.2 × 16 = 22, halved to 11 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What IFB Industries Ltd's management said in earlier quarters

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