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IFB Agro Inds

₹453 2.4 | 0.5%

Market Cap ₹424 Cr.

Stock P/E 86.4

P/B 0.8

Current Price ₹453

Book Value ₹ 582.4

Face Value 10

52W High ₹584.6

Dividend Yield 0%

52W Low ₹ 411

IFB Agro Inds Research see more...

Overview Inc. Year: 1982Industry: Consumer Food

IFB Agro Industries Ltd is engaged inside the enterprise of manufacturing alcohol, bottling of branded alcoholic drinks, as well as processed and packed marine foods both for domestic and export markets. The Company's segments consist of Spirit, Liquor and Spirituous Beverages, and Marine Products. The Spirit, Liquor and Spirituous Beverages phase is engaged inside the manufacturing of extra neutral alcohol (ENA), rectified spirit and Indian made Indian liquor. The divisions under Liquor, Spirituous Beverages and Spirit, Segment are India Made Indian Liquor and Distillery. The Marine section is in the marine product processing, for sale in export and domestic markets and marine feed trading. It operates a grain-based distillery in West Bengal at Noorpur, which has a capacity of about a 120,000 liters ENA/day. Its India Made Indian Liquor bottling plants are located in Panagarh and Dankuni and Marine Processing plant is situated in Kolkata.

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IFB Agro Inds Share Price

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IFB Agro Inds Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 664 632 454 408 483 354 326 335 352 361
Other Income 4 3 5 4 4 10 5 5 3 3
Total Income 669 636 459 412 487 364 331 340 355 364
Total Expenditure 640 621 436 388 462 346 309 334 353 366
Operating Profit 29 14 23 24 25 18 21 6 2 -2
Interest 0 0 0 0 1 1 0 0 0 0
Depreciation 4 4 6 5 5 5 5 5 5 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 25 10 17 19 20 12 16 1 -3 -8
Provision for Tax 4 1 4 5 4 4 6 -1 -1 -3
Profit After Tax 21 9 13 15 16 8 10 2 -2 -5
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 21 9 13 15 16 8 10 2 -2 -5
Adjusted Earnings Per Share 22.6 9.2 13.4 15.7 17.2 8.7 10.8 2 -2.2 -5.4

IFB Agro Inds Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 893 945 986 702 1011 1247 1374
Other Income 10 13 11 17 16 16 16
Total Income 903 958 997 718 1027 1262 1390
Total Expenditure 838 900 961 646 936 1174 1362
Operating Profit 65 58 36 72 91 89 27
Interest 3 3 2 0 1 2 0
Depreciation 21 19 18 15 17 19 21
Exceptional Income / Expenses 0 0 0 0 0 0 0
Profit Before Tax 41 36 17 57 73 68 6
Provision for Tax 12 5 -5 11 15 19 1
Profit After Tax 29 31 22 46 59 49 5
Adjustments 0 0 0 0 0 0 0
Profit After Adjustments 29 31 22 46 59 49 5
Adjusted Earnings Per Share 30.6 33.5 23.7 49.5 62.5 52.4 5.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 23% 8% 7% 0%
Operating Profit CAGR -2% 35% 6% 0%
PAT CAGR -17% 31% 11% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -6% 3% 2% 9%
ROE Average 9% 11% 10% 10%
ROCE Average 13% 14% 11% 13%

IFB Agro Inds Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 341 370 381 444 501 548
Minority's Interest 0 0 0 0 0 0
Borrowings 19 0 0 0 15 10
Other Non-Current Liabilities 22 18 8 12 15 20
Total Current Liabilities 72 74 54 73 59 54
Total Liabilities 454 461 444 530 590 632
Fixed Assets 135 135 123 120 145 131
Other Non-Current Assets 59 45 34 60 76 96
Total Current Assets 261 281 287 350 370 405
Total Assets 454 461 444 530 590 632

IFB Agro Inds Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 10 15 43 17 100 159
Cash Flow from Operating Activities 4 42 2 36 105 33
Cash Flow from Investing Activities 16 1 -6 47 -66 -17
Cash Flow from Financing Activities -15 -15 -22 -0 19 -7
Net Cash Inflow / Outflow 6 28 -25 83 59 9
Closing Cash & Cash Equivalent 15 43 17 100 159 167

IFB Agro Inds Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 30.56 33.48 23.68 49.5 62.48 52.43
CEPS(Rs) 53.46 53.46 42.59 65.34 80.6 72.47
DPS(Rs) 0 0 0 0 0 0
Book NAV/Share(Rs) 364.38 394.53 406.94 474.2 534.9 585.28
Core EBITDA Margin(%) 3.66 2.57 1.3 3.25 3.3 4.65
EBIT Margin(%) 2.89 2.23 0.98 3.37 3.24 4.44
Pre Tax Margin(%) 2.72 2.06 0.88 3.36 3.21 4.32
PAT Margin (%) 1.9 1.79 1.16 2.73 2.57 3.13
Cash Profit Margin (%) 3.33 2.86 2.09 3.6 3.31 4.32
ROA(%) 10.35 6.85 4.91 9.53 10.46 8.04
ROE(%) 14.53 8.82 5.91 11.24 12.38 9.36
ROCE(%) 19.86 10.22 4.82 13.85 15.24 12.81
Receivable days 8.86 12.65 11.88 18.39 13.92 13.97
Inventory Days 9.88 13.59 14.68 16.63 10.57 19.24
Payable days 15.59 19.95 17.86 31.23 21.72 13.46
PER(x) 17.98 14.93 9.88 8.15 11.02 8.21
Price/Book(x) 1.51 1.27 0.57 0.85 1.29 0.74
Dividend Yield(%) 0 0 0 0 0 0
EV/Net Sales(x) 0.59 0.47 0.2 0.39 0.5 0.2
EV/Core EBITDA(x) 8.18 7.69 5.53 3.83 5.55 2.81
Net Sales Growth(%) 742.44 5.86 4.29 -28.84 44.18 23.25
EBIT Growth(%) 1140.23 -10.16 -52.25 207.56 28.82 -5.52
PAT Growth(%) 1468.32 9.55 -29.25 109.01 26.22 -16.07
EPS Growth(%) 119.59 9.55 -29.27 109.01 26.22 -16.07
Debt/Equity(x) 0.09 0.06 0 0.01 0.04 0.03
Current Ratio(x) 3.6 3.81 5.29 4.79 6.26 7.55
Quick Ratio(x) 2.7 2.92 3.66 3.88 5.16 5.68
Interest Cover(x) 16.84 13.17 9.92 337.41 111.95 34.56
Total Debt/Mcap(x) 0.06 0.05 0 0.01 0.03 0.05

IFB Agro Inds Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 65 65 65 65 65 65 65 65 65 65
FII 0.38 0.39 0.38 0.29 0.22 0.19 0.2 0.21 0.24 0.16
DII 1.12 1.12 1.12 1.12 1.12 1.12 1.12 1.12 1.12 1.12
Public 33.5 33.49 33.5 33.59 33.66 33.69 33.68 33.67 33.64 33.72
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.8 times its book value
  • Debtor days have improved from 21.72 to 13.46days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 11% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

IFB Agro Inds News

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