IFGL Refractories rises after plastic refractories manufacturing segment commences operations

IFGL Refractories added 1.09% to Rs 180.05 after the company announced that a new line for manufacturing of plastic refractories at the company's Visakhapatnam manufacturing facility has commenced commercial operations.

This new line was set up with the help of technical know-how from companys material subsidiary, Sheffield Refractories, UK.

With addition of comprehensive range of Plastic Refractories, the Company will be in a position to meet ever increasing demand from ferrous and non ferrous industries.

These plastic refractories would strengthen companys robustmonolithics portfolio comprising castables, precast, shotcrete and ramming mass and thus reaffirm Companys commitment to delivering high performance refractory solutions manufactured in India for advancing self-reliance and driving industrial progress.

 

The capital outlay involved for this expansion project has been about Rs 2.10 crore financed largely by internal accruals. The total installed capacity is 10,000 MT per annum.

"With very few domestic manufacturers currently in this sector, Companys entry marks a significant step toward strengthening indigenous capacity and reducing reliance on imports, IFGL Refractories said in a statement.

IFGL Refractories is one of the fastest growing brands in the global refractory industry. The company offers a wide range of specialised refractory products and operating systems for its products to customers worldwide. The companys expertise lies in the iron making, steelmaking and continuous casting areas with particular emphasis in slide gate systems, purging systems, ladle lining & ladle refractories, tundish furniture's & tundish refractories, and others.

The company had reported a net loss of Rs 3.1 crore in Q3 FY26 as against a net loss of Rs 2.2 crore posted in Q3 FY25. Total income rose by 23% YoY to Rs 470 crore during the period under review.

Powered by Capital Market - Live News