IFB Industries Limited
7,021words
2turns
0analyst exchanges
0executives
Key numbers — 40 extracted
87.5%
892 bps
7.5%
175.69%
88.0%
0.19%
775 bps
7.2%
7.8%
3852 bps
253.5%
104.7%
Guidance — 20 items
Break-up of borrowing is as follows
opening
“IOSI Financial Report-Quarter Ended 30th June, 2022 1 In addition to the normal principal payment, our target is to pay off the entire debt of INR 28 crore (which pertains to our Fine Blanking Division) by 31 December, 2022.”
Break-up of borrowing is as follows
opening
“The situation is expected to improve by November after the festive season will be over.”
Break-up of borrowing is as follows
opening
“The Engineering Division has similar inefficiencies of over INR 30 crore, which will be significantly reduced by 31 December, 2022 and this will be used to pay off debts.”
Break-up of borrowing is as follows
opening
“The overall demand scenario in the medium term remains healthy and there is continued growth in demand for higher end capacities especially in the Tier 2 and Tier 3 towns-which has been a trend from 2020 onwards.”
Break-up of borrowing is as follows
opening
“This will be completed by the end of the fiscal year FY '23.”
Break-up of borrowing is as follows
opening
“• CV demand is expected to improve going forward as investment in Infrastructure increases.”
Break-up of borrowing is as follows
opening
“• Electric Vehicles will grow in the scooter segment, but is facing challenges now in new vehicle launches etc.”
Engineering Division
opening
“We aim to take high shares in this segment and we have started placing new models in this segment in the market.”
Engineering Division
opening
“This will be further supported by the introduction of high end models in this segment with models in 9 and 10 Kg range in Q3 of FY '22-'23.”
Engineering Division
opening
“We will be introducing 12 Kg Washers in this category in the coming festive season.”
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Risks & concerns — 6 flagged
• The pressure on inputs remains high and the impact of this continues to keep margins under stress.
— Break-up of borrowing is as follows
With the forex situation in 01 and also the continued pressure in areas like plastics etc, there may be more price hikes in 02 and 03.
— Break-up of borrowing is as follows
It is expected that the reducing commodity price trends in areas like steel and a reduction in sea freight may reduce the overall pressure on the material cost areas.
— Break-up of borrowing is as follows
• There is a positive trend in the automotive market which is due to the sentiment having improved on account of decline in COVID-19 cases.
— Engineering Division
The business has been expanded for multiple geography sourcing-this will also de-risk supplies and provide more options to the business going forward-with new capacity points and a wider selection choice for consumers.
— Engineering Division
• However, we are delayed by three years mainly due to impact of COVID-19 which affected the OEM output.
— Engineering Division
Speaking time
1
1
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Opening remarks
Break-up of borrowing is as follows
80IT0Wing LoanTme ECB Rupee Term Loan Rupee Term Loan Rupee Term Loan Working Capital Buyers Credit Working Capital Demand Loan Total Value 87.14 0.85 28.25 33.25 51.58 13.83 214.90 Banker Standard Chartered Federal Bank DBS Bank ICICI Bank SCB HDFC Pumose AC Project Steel Division Engineering Division Stamping Division Home Appliances Home Appliances (~ in Crore) Tenure Five Years Five Years Five Years Seven Years ECB Loan (INR 141 crore) taken from SCB for our AC plant came down to its current position after making a pre-payment of INR 28.32 crore in January 2021 and three principal payments in October 2021, January 2022 and April 2022. Term loan (INR 70 crore) taken from DBS for our Engineering business was partly pre-paid in December 2020 to reach a balance of INR 47.10 crore. Thereafter, principal payments were made during the year and the current balance is INR 28.25 crore. The first instalment of the Stamping Division Loan (INR 35 crore) taken from ICICI Bank was paid in May 202
Engineering Division
In Ql, the Automotive Market had improved Sales as compared to previous Quarter • The semi conductor shortage situation has improved as compared to earlier months. • The commodity prices increased in April '22, but in the subsequent 2 months there was a decrease which led to an overall decrease on a quarterly basis. • This trend is expected to continue in 02 also, which will increase the festive demand. • There is a positive trend in the automotive market which is due to the sentiment having improved on account of decline in COVID-19 cases. Segmental Analysis of IFB Ql 2022-23 • 4-wheelers • 2-wheelers • Heavy Vehicles • Electricals • Tractors & Others •others 1 1101 Financial Report-Quarter Ended 30th June, 2022 1 RANGE OF PRODUCTS (Home Appliances Division) The Division's range of products covers both domestic and industrial application categories. The updates at the end of the 1 st Quarter for each of the product categories are given below: • Front Load Washing Machine The range has
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