Showing posts with label IFGL Refractories. Show all posts
Showing posts with label IFGL Refractories. Show all posts

February 24, 2014

IFGL Refractories – Consolidated Quarterly Results: IFGL Refractories reported a decrease in Sales Turnover and NP for the quarter ended December 2013

IFGL Refractories Ltd.

IFGL Refractories has reported a consolidated sales turnover of ₹ 194.74 crores for the last quarter ended Dec'13 which is marginally less than that of previous quarter. The Net Profit also declined for this period which stood at ₹ 14.26 crores at the end of Dec’13 in comparison to ₹ 19.85 for the previous quarter Sept’13.
For the quarter ended Dec 2012 the consolidated sales turnover was ₹ 169.15 crores and net profit was ₹ 9.49 crores, and other income ₹ 0.47 crores.
IFGL Refractories Ltd. (IFGL), an Indian Multinational Refractory Company, is a manufacturer of Specialized Refractories and requisite Operating Systems for the Steel Industry and offers its customers Total Refractory Solution for flow control in Steel Teeming and Continuous Casting of Steel. Besides India, IFGL Refractories has manufacturing facilities in Brazil, China, Czech Republic, Germany, UK and USA.

    IFGL Refractories – Consolidated Quarterly Results (in ₹ crores)

December’13
September’13
June’13
Sales Turnover
Total Income
Op Profit
Gross Profit
Net Profit
EPS
194.74
195.35
27.23
27.84
14.53
4.20
201.96
202.29
30.37
30.70
19.85
5.74
181.39
181.86
24.60
25.07
14.80
4.28

    (Source: moneycontrol.com)

August 18, 2013

IFGL Refractories reported increase in Sales Turnover and Net Profit for the last quarter June 2013


IFGL Refractories has reported a consolidated sales turnover of ₹ 181.39 crores for the last quarter ended June'13. The Net Profit of the company jumped by a whopping 717 per cent which stood at ₹ 14.80 crores at the end of June’13 in comparison to ₹ 1.81 for the previous quarter May’13.

The company reported Operating Profit and Gross Profit ₹ 24.6 crores and ₹ 25.07 crores respectively which indicate an increase of about 160 and 157 per cent respectively for the quarter ended June’13.

EPS (Earning per Share) of IFGL Refractories at ₹ 4.28 also increased considerably during the last quarter.

IFGL Refractories Ltd. (IFGL), an Indian Multinational Refractory Company, is a manufacturer of Specialized Refractories and requisite Operating Systems for the Steel Industry and offers its customers Total Refractory Solution for flow control in Steel Teeming and Continuous Casting of Steel. Besides India, IFGL Refractories has manufacturing facilities in Brazil, China, Czech Republic, Germany, UK and USA.
(Source: moneycontrol.com)
      
     previous Related articles

November 19, 2012

IFGL Refractories - profits declining



IFGL Refractories Ltd. (IFGL), an Indian Multinational Refractory Company, is a manufacturer of Specialized Refractories and requisite Operating Systems for the Steel Industry and offers its customers Total Refractory Solution for flow control in Steel Teeming and Continuous Casting of Steel.
IFGL Refractories reported a 47 per cent drop in net profit at Rs 2.10 crore for the second quarter of the 2012-13 fiscal and attributed the performance to deteriorating health of global steel industry especially in the Euro zone and Latin America. The company had a net profit of Rs 3.94 crore in the corresponding period of the last fiscal.
"Performance of the steel industry during the quarter worsened as compared to the corresponding quarter particularly in the Euro zone and Latin America. Since more that 50 per cent of the company's total income... is from exports and although rupee depreciated, there has been an overall increase in costs including inputs, outward freight and other selling expenses, resulting in reduced profit before tax," IFGL said.
Here this may be recalled that for the six months ending September 30, 2012, IFGL showed a decrease in net profit to Rs 7.61 crore from Rs 8.74 crore.
The IFGL Group now has three strategically located units for manufacturing Continuous Casting Refractories. El Ceramics (EIC), located in Cincinnati, Ohio (USA), caters to the US, Canada, and Mexico. IFGL's Rourkela (Orissa, India) unit mainly catering to the domestic customers and also to the steel plants located in South East Asia. In October last year, IFGL started a new state-of-the-art facility at Kandla Special Economic Zone in Gujarat to manufacture Continuous Casting Refractories.
IFGL acquired Monocon Group in September, 2005, with production facilities in the Brazil, China, UK, USA and Taiwan. In September, 2010 IFGL acquired EI Ceramics LLC and CUSC International Limited (CUSC), both Cincinnati, Ohio based companies engaged in manufacture of Isostatically Pressed Continuous Casting Refractories. Since its inception in 1984, IFGL Refractories has gradually transcended to become an Indian Multinational Refractory Company with manufacturing facilities in Brazil, China, Czech Republic, Germany, India, UK and USA.
(Source: The Economic Times)

       Related articles

October 30, 2011

IFGL Refractories starts new Refractory Unit in Gujarat to manufacture Continuous Casting Refractories


IFGL Refractories Ltd. (IFGL) is a manufacturer of Specialized Refractories and requisite Operating Systems for the Steel Industry and offers its customers Total Refractory Solution for flow control in Steel Teeming and Continuous Casting of Steel. On 20th Oct’2011 the company has started a new state-of-the-art facility at Kandla Special Economic Zone in Gujarat to manufacture Continuous Casting Refractories.
The unit, set up under IFGL Exports Limited (IEL), was inaugurated by Mrs. Smita Bajoria the wife of Group Chairman, Mr. Shishir Kr Bajoria, Mr Pradeep Bajoria, Managing Director, IFGL Refractories, Mr. Ichiro Takita Vice President of Krosaki Harima Corporation (KHC), subsidiary of Nippon Steel Corporation of Japan, and several dignitaries and local authorities were present at the inaugural function. The new unit is expected to start commercial production from the 1st of November, 2011.
The IFGL Group now has three strategically located units for manufacturing Continuous Casting Refractories. El Ceramics (EIC), located in Cincinnati, Ohio (USA), caters to the US, Canada, and Mexico. IFGL's Rourkela (Orissa) unit will henceforth be geared up to meet the increasing domestic demand and also to the steel plants located in South East Asia. IEL (IFGL Exports Limited), Kandla, will export its products to the Middle East and European markets. About 20 per cent of equity share capital of IEL is held by Krosaki Harima Corporation CKHQ, Japan, while the remaining 80 per cent is held by IFGL and other Group entities. KHC has been the equity and technical partner in IFGL for over 20 years.
IFGL acquired Monocon Group in September, 2005, with production facilities in the Brazil, China, UK, USA and Taiwan, where it is manufacturing mainly –
  • Tundish Spraying Mass
  • Refractory Darts
  • Monolithic Lances
  • Monolithics for Tundish, EAF and Ladle
  • Robotics for EAF, Ladle and Tundish lining maintenance.
In September, 2010 IFGL acquired EI Ceramics LLC and CUSC International Limited (CUSC), both Cincinnati, Ohio based companies engaged in manufacture of Isostatically Pressed Continuous Casting Refractories.
Since its inception in 1984, IFGL has gradually transcended to become an Indian Multinational Refractory Company with manufacturing facilities in Brazil, China, Czech Republic, Germany, India, UK and USA.
(Source: http://www.ifglref.com)     

October 5, 2008

Glimpses of the Growth of Refractory Industry in India

The Indian Refractory Industry is more than a century old. With the passage of time it has made considerable improvements both in terms of volume of production & quality of products. The strengths of the Indian Refractory Industry are its assets like -
  • Availability of many raw materials in the country itself.
  • Availability of skilled & qualified manpower at a cheap rate.
  • Presence of a continuously increasing, big market within the country itself.
These resources have been fully exploited by the refractory manufacturers to derive maximum benefits from them. According to a recent data at present, the Refractory Industry in India has an installed capacity of 1.7 million metric tons per annum from about 90 refractory units out of which 30 large and medium and 60 small scale units with a capital investment of about Rs.800 crores & providing direct employment to more than 30000 people engaged in manufacturing various grades of refractories as per international standards and qualities. The annual production from these units has been in the range of 0.70 million tons, which implies capacity utilization of less than 50% of the installed capacity. This figure reflects that the trend of refractory production in India is almost comparable with the world trend where total installed capacity of about 2000 companies is roughly 40 million tons and the production is about 20 million tons which is almost 50% of capacity utilization.


Sector wise consumption of Refractories


Sector
Refractory Consumption (%)
Steel74
Non-Ferrous3
Glass4
Cement12
Others7
Although non-ferrous consuming industries of refractories are there in a significant number but the steel industry being the major consumer of the refractory products (ref the ‘Sector wise Refractory Consumption’ Table), the demand - supply pattern of refractories have invariably been influenced by the technological & production changes in the Steel Industry. In India the first Refractory manufacturing unit was set up at Raniganj in 1874 by Burn & Company (now Burn Standard Co. Ltd) to cater to the needs of Ordinance Factory, Railway workshops, Calcutta mint, Foundries etc. With the setting up of Tata Steel and Indian Iron & Steel Company in the beginning of the century the demand of refractories increased. As a result several refractory manufacturing units were set up like - Kumardhubi Fireclay & Silica Works (KFS), Bihar Firebricks, Reliance Firebricks etc. After independence of India a number of integrated steel plants were set up by Hindustan Steel (now SAIL) at Durgapur, Bhilai, Rourkela and Tata Steel also doubled its capacity with technology up-gradation. To meet their requirements Burn & Co. Ltd expanded their manufacturing capacity and set up more units in West Bengal, Bihar, MP and Tamil Nadu. A number of small - medium refractory units came in and around Asansol - Durgapur - Chirkunda - Dhanbad belt viz. Bihar Pottery at Rupnarainpur, National Refractory at Salanpur, Hindustan Refractory at Durgapur, India Refractories (later on Kesoram Refractories & now ORIND Bengal) at Kulti, Harry Refractories at Kalubathan, Maithan Ceramics & Valley Refractories at Chirkunda etc just to name a few. Several large scale refractory plants were set up during this period with latest know-how like - Belpahar Refractories (now Tata Refractories Limited), Orissa Cement (now OCL India Ltd), Orissa Industries (ORIND), ACC Refractories (Ace Refractories Ltd), India Firebricks & Insulation etc. During 70’s with the setting up of Bokaro Steel Plant and modernization / expansion of major steel plants the demand of refractories went up. Few more units came up in private & public sectors like - Ipitata Refractories (now Nilachal Refractories), Raasi Refractories Ltd, Indo Flogate (IFGL), Bharat Refractories etc. Unfortunately with the change in steel technology and demand of better type of refractories by other industries, requirement of conventional refractories reduced considerably resulting in a closure of some of these old Refractory units. The introduction of L.D. converters, continuous casting and secondary steel making processes in India demanded refractory products of a highly sophisticated and resilient kind. From 80’s onwards the demand for sophisticated refractories started to increase as in order to increase their campaign life & reduce cost of production. Besides Steel, other industries like - Cement, Hydrocarbon, Sponge iron, Glass, Aluminium etc also started to opt for such new generation refractories in place of the conventional types. Again, in the new millennium since India has been witnessing a spurt in the growth of steel production by capacity enhancement of most of the Integrated Steel Plants as well as due to the upcoming of quite a few big Integrated Steel Plants in the private sector. Because of this growing demand of Refractories within the country and as a result of post liberalization era (open door business policy taken by the Indian Govt) not only some of the existing large scale Refractory Plants have either made tie-ups with some other international giant or even opted for new acquisitions in another country but also, the Indian Refractory Industry as whole needed to invest further in their R&D activities, improve manufacturing technology both in terms of quality & quantity in tandem with the changes of the consuming industries. Also refer to the artcle Milestones in the Development of Refractories in India.

The Table below presents an account of some of the important events in the growth of the Indian Refractory Industry.

YearImportant Events in the Refractory Industry
1874First Refractory unit by Burn & Company at Raniganj
1905Kumardhubi Fireclay & Silica Works (KFS) at Chirkunda started production.
1934Parashuram Pottery Works at Morvi.
1940Basic Brick production started at Tata Steel.
1949Harry Refractories at Kalubathan near Dhanbad.
1957OCL established with Dr. C. Otto & Co. (WG).
1958Belpahar Refractories in collaboration with Didier Werke (WG).
1962India Refractories established in collaboration with Pragnovist, Czeckoslovakia
1963ORIND with the help of Harbison Waker (USA).
1966Carborundum Unioversal with Carborundum Co (USA)
1973Rajhans Refractories Pvt. Ltd, Katrasgargh.
1974Bharat Refractories (BRL)
1970'sMaithan Ceramics, Valley Refractories, Perfect Refractories, etc.
1980'sIndo Flogates, SNCCIL, IPITATA Refractories, Orient Abrasive, Orient Cerawool, Raasi Refractory, VRW Refract, Castwell, Refractory Specialities, Mahakoshal Ceramics, etc
1990'sVesuvius India Ltd, Katni Tile Works, SKG Refract, Pacific Refract, Sarvesh Refract etc

Related Articles