Industrial Goods company IFGL Refractories announced H1FY25 & Q2FY25 results Total revenue for Q2FY25 stood at Rs 257 crore, reflecting a yearon-year decline of 2%. However, for H1FY25, total revenue grew by 2% on a YoY basis. EBITDA for Q2FY25 and H1FY25 stood at Rs 33 crore and Rs 78 crore, respectively, representing a YoY decline of 42% and 25%. EBITDA Margins for Q2FY25 stood at 13% and for H1FY25 stood at 15%. Profit after Tax for Q2FY25 stood at 14 crore and for H1FY25 it stood at 36 crore. James McIntosh, Managing Director for IFGL Refractories, said, “During Q2FY25, we achieved a consolidated Total Income of Rs 415 crore. Despite the challenges faced in our overseas markets due to slowdowns that impacted exports and international business, our domestic operations demonstrated resilience with a 15% growth. This growth is particularly commendable considering the shutdowns at some of our major client locations. The global logistics crisis and overall market slowdowns continued to weigh on our export performance. In terms of strategic expansion, we are pleased to announce a significant milestone for IFGL with the signing of an agreement with Marvels International Group Co. of Seychelles and Marvel Refractories Anshan Co. of China. Together, we will establish a joint venture in India to bolster our brick production capabilities. This partnership is a key step in our entry into the Cement, Glass, Non-Ferrous, and Gasification Industries, reinforcing our commitment to diversifying and strengthening our portfolio. Additionally, our subsidiary, EI Ceramics, has acquired a building in Ohio, USA, which will be converted into a stateof-the-art ISO Plan facility. This transformation will allow us to produce the highest quality and most consistent Isostatic Products for the steel industry, further reinforcing our manufacturing excellence. We are also progressing with our land acquisition in Odisha, with a payment of Rs 12 crore made to the Odisha Industrial Infrastructure Development Corporation. We look forward to receiving the land and commencing the project in due course. Despite facing external challenges, we remain focused on driving long-term growth through strategic investments, partnerships, and innovations that will continue to support our core industries and expand our reach." Result PDF