IFB Industries Posts Best Ever Quarter Led By Strong Growth, Robust Margin: Nirmal Bang
A customer views a refrigerator displayed for sale at the Home Appliance store. (Photographer David Paul Morris/Bloomberg)

IFB Industries Posts Best Ever Quarter Led By Strong Growth, Robust Margin: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

IFB Industries Ltd. posted the highest ever quarterly revenue at Rs 9.2 billion, up 32% YoY and 18% above our/consensus estimate.

Topline was higher despite headwinds such as constraints in sourcing of raw materials, electronic components and finished goods.

Home appliances sales grew 33% YoY to Rs 7.7 billion (83% of total sales) while fine blanking revenue grew 35% YoY to Rs 1.5 billion (16% of total sales).

Gross margin rose 60 basis points YoY to 44.3%.

Click on the attachment to read the full report:

Nirmal Bang IFB Industries-Q3FY21 Result Update-4 February 2021.pdf


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