Showing posts with label Indo Flogates. Show all posts
Showing posts with label Indo Flogates. Show all posts

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)
      
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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)

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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)