IFB Industries Ltd. share price target

Quarterly Update Q3FY25

Quarterly Update Q2FY25

Quarterly Update Q1FY25

Initiating Coverage Report

Going forward, we estimate 20% revenue CAGR till FY24, driven by the increasing presence, high marketing spend and new product launches in the home appliances division. Currently, IFBIL is trading at a 2-year forward EV/EBITDA multiple of 12.1. We anticipate a FY24 EV/EBITDA multiple of 14.5, which is below the 3-year median of 20.62.

divisions, Appliances and Fine Blanking. The appliances division has its manufacturing facilities at Goa and Bengaluru, while fine blanking has its facilities at Kolkata and Bengaluru. The divisions range of products covers both domestic appliances and industrial application categories including washing machines (front &...

IFB has focused on augmenting manpower, expanding distribution reach, strengthening brand franchise, and improving product development capabilities in the last few years. While, it now generates gross margins similar to its peers, EBITDA margins are sharply lower mainly due to smaller scale. Hence, there is potential for IFB to introduce new products to leverage brand and extract operating-leverage benefits over the next few years. Moreover, company demonstrated healthy volume growth both in its front-loading and top-loading washing machine segments in FY19. So far, it has maintained a leading market position in the front-loading...

On right track with revenue growth and margins expansion We maintain our Hold rating on IFB Industries with a revised TP of Rs790 (28x FY19E EPS). We believe that positives of the current quarter are captured in the stock price post the steep 25% rally in last one month. We increase our target multiple factoring re-rating in the consumer durable sector post the healthy revenue growth across players. Increasing distribution reach strategy of the management to drive volume growth has started to bear fruit with strong growth across categories. New product launches coupled with mix change and domestic manufacturing would drive margins...

Appliance Business: IFB Industries Ltd, originally known as Indian Fine BlanksLtd, has recorded 182% volume growth in Top Loader washing machine in Q2FY16against Q2FY15 and targeting robust volume growth in FY16E; which contributesaround 17% of the total revenue in Q1FY16.

contracted by 330 bps y-o-y to 5.9% in Q2FY16. FY16. This was primarily on account of investment in sales force across regions and att IFB Points. We expect this sales force will add to the topline going forward and reduce pressure on margins going forward. Reported PAT declined sharply by 39.5% to `9.3 9.3 crores. The bottomline was largely...

IFB Industries Ltd. (originally know as Indian Fine Blanks Ltd.) has over 35 years of presence in India witnessed various ups and downs in its business and is now emerging as a stronger player in the Indian consumer durable space. IFB Industries is India's largest front loading washing machine manufacturer with a current market share of 48% in the category. The company has over the years transformed from being a single product company to a company with a bouquet of product offering across the consumer durable space. The company's business can be divided into two segments, namely Home Appliances and Fine Blanking. The Home Appliances...

IFB Industries Ltd. (IFB) earlier known as Indian Fine Blanks, started operations in India in 1974 in collaboration with Hienrich Schmid AG of Switzerland. The company was established to...