Financial Insights

IFGL Refractories: Proxy play on increased steel production

Results in line with Street expectations
-Capex at Vizag completed and expecting slow and steady ramp-up in production
-Almost 20 percent of the market capitalization in cash and cash equivalent
-Investors with a medium-term view can accumulate stock at current levels

IFGL Refractories (IFGL; CMP: INR 301; Market Capitalization: INR 1,085 Cr. ) is special refractories manufacturer in the iron and steel industry. Other than India, it is across the USA, the UK and Europe through its 100% subsidiaries.

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