Nirmal Bang: IFB Industries Posts Healthy Revenue, Strong Margins In Q2; AC Turnaround Imminent
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Nirmal Bang Report
IFB Industries Ltd. posted 3% YoY growth in revenue at Rs 7.2 billion, 20%/12% above our/consensus estimate.
Home Appliances sales was flat YoY at Rs 5.9 billion (82% of total sales) while fine blanking sales grew 12% YoY to Rs 1.2 billion (17% of total sales).
Gross margin rose by 140 basis points YoY to 45.6%.
Ebitda jumped 66% YoY to Rs 822 million, aided by lower other expenses (travel, advertisement, rental and office expenses).
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