Ifgl refractories ltd

Concall FY24Q2 highlights

1. *A very healthy quarter for the company with a 33% increase in our consolidated income, 125% increase in our PBT, 95% increase in PAT and 85% increase in EBITDA versus Q2 FY ’22-’23.
   The foundation of this great result was domestic operations, nstructural and investment focus has been in the last couple of years, and is now paying off .Domestic operations have been the main driver of the company’s success, with a 26% rise in consolidated income for the first half of the year.
2. • The company is focused on improving and investing in its domestic manufacturing locations to strengthen its position in the market and expand its product line.
     3 * The Indian steel industry is projected to maintain robust growth, with significant opportunities for growth in Odisha
     4 * Expansion projects are underway in Germany, the USA, and the UK to improve capabilities and efficiency. The company is exploring synergies between Monocon and Sheffield Refractories. Plans for expansion into new areas may involve building new plants, forming associations, or acquiring new organizations.
     5* Over the next seven to eight years, we expect Odisha to contribute an additional 80 million tons to 100 million tons of the country’s steel production growth, making it a major driver of growth in
     India. Approximately 75% of the Indian steel growth is projected to come from Odisha only.
     And this is why we are making a substantial investment in this region. The company is diversifying into non-ferrous industries such as cement, petrochemicals, and copper. The company is interested in expanding into new product areas outside of steel but maintains a strong focus on the steel industry.

6 * In Kandla, we have done almost 90% of the capex. We had announced about INR 50 crores capex there. In Vizag, we have completed almost 60% of the capex plan, and the balance would be spent by March ’24.