Nirmal Bang: IFB Industries Posts Healthy  Revenue, Strong Margins In Q2; AC Turnaround Imminent
Home appliances are displayed for sale at an appliance store in San Jose. (Photographer David Paul Morris/Bloomberg)

Nirmal Bang: IFB Industries Posts Healthy Revenue, Strong Margins In Q2; AC Turnaround Imminent

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 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).

Click on the attachment to read the full report:

Nirmal Bang IFB Industries-Q2FY21 Result Update-10 November 2020.pdf

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