IFB Industries Ltd | Surge In Profits | Investing | Finance | Share Market | Household Appliances
BSE Code: 505726
Face Value: Rs 10.00
Market Price: Rs.1213.95/-
(As on 28 Jun 18 | 16:00)
The company, formerly Indian Fine Blanks Ltd, is engaged in the manufacturing and trading of home appliances and the manufacturing of fine blanks. Its home appliances include washing machines, dishwashers, microwave ovens, clothes dryers, dishwashers, modular kitchens, air conditioners, among others. The fine blanking products range from fine blanked components and tools to related machines, such as straighteners, decoilers and strip loaders. It also manufactures motors for home appliances and automotive applications.
The company, known for its washing machines in the white goods segment, is going to sell 30,000 washing machines every month starting from the second quarter of 2018-19. It captured third place in microwave ovens market with 21% market share. The company is opening 500 exclusive stores. It launched chain & sprockets for motorbikes.
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IFB earned a consolidated net profit of Rs 20.54 crore in the fourth quarter ended March 2018, as against Rs 1.36 crore in the corresponding period of the earlier year. In the full financial year 2017-18, its net profit jumped more than 50% to Rs 78.31 crore, compared to Rs 50.4 crore in the earlier year. The EPS (share face value Rs 10) was Rs 19.98 in FY18.
As of March 31, 2018, the company has cash reserves of Rs 62.46 crore. The stock may give good returns on investment.