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IFGL Refractories Ltd.

BSE: 532133 Sector: Engineering
NSE: IFGLREFRAC ISIN Code: INE023B01012
BSE LIVE 15:42 | 13 Sep 280.10 -16.95
(-5.71%)
OPEN

296.10

HIGH

304.25

LOW

274.00

NSE 15:58 | 13 Sep 279.25 -16.80
(-5.67%)
OPEN

298.85

HIGH

305.00

LOW

275.05

OPEN 296.10
PREVIOUS CLOSE 297.05
VOLUME 23284
52-Week high 341.50
52-Week low 117.50
P/E 57.75
Mkt Cap.(Rs cr) 969
Buy Price 0.00
Buy Qty 0.00
Sell Price 280.10
Sell Qty 53.00
OPEN 296.10
CLOSE 297.05
VOLUME 23284
52-Week high 341.50
52-Week low 117.50
P/E 57.75
Mkt Cap.(Rs cr) 969
Buy Price 0.00
Buy Qty 0.00
Sell Price 280.10
Sell Qty 53.00

IFGL Refractories Ltd. (IFGLREFRAC) - Company History

Incorporated on 22 Nov.'89 as a public limited company in Calcutta, IFGL Refractories (IRL) commenced business on 2 Feb.'90. The registered office of the company was shifted to Orissa from 18 Nov.'91. It has been promoted by Indo Flogates (IFGL) and the Bajorias. IRL came out with a rights issue of 1 cr equity shares at par, aggregating Rs 10 cr, in Mar.'94. The proceeds of the issue were utilised to partly meet the fund requirements (Rs 10.03 cr), to meet the cost overrun in the 1920-tpa plant set up to manufacture specialised refractories in the Sundergarh district of Orissa. IRL commenced commercial production in Feb.'93. It has obtained technical know-how from Harima Ceramics Company, Japan. Harima has also participated in the equity share capital of the company. Nisso Iwai Corporation, Japan; Flogates UK; IFC, US; and Second India Investment Fund, the Netherlands; have also participated in the equity capital of the company. The company's product -- continuous casting refractories -- is a 100% import-substitute which is extensively used in the steel industry. It also manufactures carbon alumina slide gate plates and tap hope sleeves. It is the first Indian company manufacturing continuous casting refractories which has received the ISO 9002 certification. The company has increased its Refractories capacity from 1920 tpa to 3000 tpa. Indo Flogates Ltd amalgamated with the company during the year 1999-2000.