IFGL Refractories declined 0.20% to Rs 50 at 10:39 IST on BSE, after the company said on Friday, 5 September 2008, it has set up a modern facility for manufacturing bio ceramics, in which orbital implants are also manufactured.
The company made this announcement during trading hours today,
The stock hit a high of Rs 51 and a low of Rs 49 so far during the day. The stock has a 52-week high of Rs 104.05 on
The company’s current equity is Rs 34.61. Face value per share is Rs 10.
The current price of Rs 50 discounts Q1 June 2008 annualized EPS of Rs 7.25, by a PE multiple of 6.90.
In June 2008, IFGL Refractories acquired 96.16% of shares in German firm Hofmann Ceramic GmbH for an undisclosed sum. Hofmann entities are engaged in manufacturing ceramic filters and other refractories for the foundry industry. The combined turnover of Hofmann entities was 13.67 million euros in the year ended December 2007.
IFGL Refractories’ net profit rose 140.2% to Rs 6.27 crore on 23.3% increase in net sales to Rs 48.42 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing specialised refractories. The group operates in
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