IFGL Refractories Limited

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BSE Code: 532133       NSE Code: IFGLREFRAC

Business Profile
Business Profile
IFGL Refractories (IFGLREF), the flagship company of the S K Bajoria group, is engaged in the manufacture of special refractories and operating systems for the steel industry.
The Company was incorporated on Nov. 22, 1989.

The company`s product portfolio includes continuous casting refractories like ladle shrouds, mono block tundish stoppers, sub-entry nozzle/sub-entry shrouds, tundish nozzles, MgC tap hole sleeves; slide gate system and refractories like Flocon ladle, Krosaki-Harima; IPV mechanism and refractories like IPV system for ladle and refractories for purging; furnace gate valve system and refractories; tube changer mechanism for slab caster; zirconia/zircon metering nozzles; monocon products/engineering services like spraying mass and machine for tundish spraying, refractory darts and machine for BOF, monolance metallurgical lances and ladle monocators; bio ceramic products like Ceraeye integrated orbital implants, biograft dental bonegraft materials, femoral head for hip joints, surgical information and clinical results.

The company has its manufacturing facilities in Brazil, China, UK, USA, Taiwan, and India. It has a technical assistance agreement with Krosaki Harima Corporation of Japan for refractory components know-how of alumina graphite material. Monocon International Refractories is a step-down subsidiary of the company, which has acquired Trent Refractories, UK (manufactures castables, monolithics, pre-cast shapes used in iron and steel industries). The company has another step-down subsidiary, Tianjin Monocon Aluminous Refractories in China manufacturing slag control darts and other precast shapes used in iron and steel industries.

IFGL Refractories markets products directly and through a network of dealers in India and through subsidiaries overseas.
The registered office of the company is at Sector B, Kalunga Industrial Estate, P.O. Kalunga 770031, Sundergarh district, Orissa and corporate office at Mcleod House, 3, Netaji Subhas Road, Kolkata-700001.

Financials
IFGL Refractories registered a steep drop of 41.61% in net profit of Rs 26.10 million for the quarter ended June 2007 from a profit of Rs 44.7 million for the quarter ended June 2006.
Net sales rose 11.03% to Rs 392.6 million for the quarter ended June 2007 from Rs 353.6 million for the quarter ended June 2006.
Total income rose 10.84% to Rs 392.7 million for the quarter ended June 2007 from Rs 354.3 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 0.75 for the quarter ended June 2007.

On a consolidated basis, the company registered a profit of Rs 48 million for the quarter ended June 2007.
It recorded a net sales of Rs 891.2 million for the quarter.
Total income was Rs 898.3 million for the quarter ended June 2007.
The earnings per share of the company stood at Rs 1.38 for the quarter ended June 2007.

Recent Developments
28-AUG-07
The shareholders increased the borrowing limit of the board of directors to Rs 5,000 million and investment limits to Rs 10,000 million, subject to necessary provisions and approvals. It also authorized the issuance of securities not to exceed USD 100 million.

02-MAY-07
Monocon International Refractories, the step down subsidiary of the company, has entered into a non-binding heads of agreement for acquisition of 100% of the total issued share capital of Trent Refractories of UK. Trent is engaged in the manufacture of castables, monolithics, pre-cast shapes, ..etc, used mainly by the producers of iron and steel.

Other Information
Annual Reports for IFGL Refractories Limited
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