IFGL Refractories slumps after poor Q4 results

IFGL Refractories fell 6.47% to Rs 125.80 at 11:45 IST on BSE after consolidated net profit fell 46.9% to Rs 8.37 crore on 3.8% decline in net sales to Rs 192.75 crore in Q4 March 2015 over Q4 March 2014.

The Q4 result was announced on Saturday, 16 May 2015.

Meanwhile, the S&P BSE Sensex was up 120.34 points or 0.44% at 27,444.34.

On BSE, so far 10,000 shares were traded in the counter as against average daily volume of 9,688 shares in the past one quarter.

The stock hit a high of Rs 131 and a low of Rs 121.50 so far during the day. The stock had hit a 52-week low of Rs 85 on 16 May 2014. The stock had hit a record high of Rs 218.25 on 9 September 2014.

The stock had outperformed the market over the past one month till 15 May 2015, sliding 2.47% compared with Sensex's 5.12% fall. The scrip had also outperformed the market in past one quarter, declining 0.44% as against Sensex's 6.09% fall.

The small-cap company has equity capital of Rs 34.61 crore. Face value per share is Rs 10.

IFGL Refractories manufactures specialized refractories, having facilities in Brazil, China, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider.

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