IFB Industries has filed its 50th Annual Report for FY2025-26, reporting its best-ever year in terms of revenue and overall PBDIT. The company recorded standalone total income of ₹5,475.91 crore, with Profit Before Depreciation, Interest and Tax (PBDIT) of ₹334.07 crore (6.14% of revenue), Profit Before Tax (PBT) of ₹179.61 crore, and Profit After Tax (PAT) of ₹133.34 crore. On a consolidated basis, total income stood at ₹5,652.59 crore, with PBDIT of ₹351.23 crore (6.25%), PBT of ₹192.45 crore, and PAT of ₹143.56 crore. The company's 50th Annual General Meeting is scheduled for July 29, 2026, to be held via Video Conferencing.
Financial Performance
The following table summarises the company's standalone and consolidated financial results for FY2025-26 compared to FY2024-25:
| Particulars: |
Standalone FY2025-26 |
Standalone FY2024-25 |
Consolidated FY2025-26 |
Consolidated FY2024-25 |
| Total Revenue (₹ cr): |
5,475.91 |
4,977.19 |
5,652.59 |
5,126.89 |
| PBDIT (₹ cr): |
334.07 |
324.61 |
351.23 |
337.58 |
| PBDIT (%): |
6.14% |
6.57% |
6.25% |
6.63% |
| PBT (₹ cr): |
179.61 |
171.26 |
192.45 |
163.45 |
| PAT (₹ cr): |
133.34 |
128.79 |
143.56 |
118.91 |
| EPS – Basic (₹): |
32.91 |
31.79 |
35.43 |
29.35 |
The standalone net revenue from operations grew by 10.13% to ₹5,443.25 crore. An exceptional item of ₹13.96 crore was recognised during the year on account of an incremental gratuity liability arising from the introduction of Labour Codes effective November 21, 2025. The company ended the year with a debt of ₹12.77 crore as of March 31, 2026, and a cash balance of ₹358.97 crore, making it net debt zero. As of June 30, 2026, debt further reduced to ₹10.49 crore, and the company remained net debt zero on that date as well. No dividend has been recommended for FY2025-26.
Segment-Wise Performance
The Home Appliance Division contributed 80.14% to total turnover, while the Engineering Products Division accounted for 17.09%. The following table captures key segment highlights:
| Segment: |
FY2025-26 Revenue (₹ cr) |
Key Highlights |
| Engineering Division: |
934.20 |
11.86% growth YoY; PBDIT margin at 14.84% |
| Home Appliances Division: |
~4,362 (standalone) |
~10% revenue growth; 3.35 lakh BLDC motors produced |
| Steel Division: |
194.23 |
4.9% revenue growth; PBDIT of ₹10.76 cr |
| Motor Division: |
~76 (standalone) |
~20% revenue growth; turned profitable at ₹0.12 cr PBT |
The Engineering Division recorded order bookings of ₹153 crore in FY2025-26, comprising ₹71 crore in EV-negative (ICE) parts, ₹75 crore in EV-neutral modules, and ₹7 crore in EV-positive components. The Steel Division's new Annealing Furnace was successfully commissioned with commercial production commencing from May 2026. The Appliance Division reduced material cost by ₹67 crore through its cost reduction programme during the year, though this was offset by commodity price increases of ₹32 crore and INR depreciation impact of ₹52 crore. The company's scheme payout during the year was ₹1,778.15 crore.
Subsidiary and Associate Performance
The company's international subsidiaries and associate delivered mixed results during the year:
| Entity: |
Revenue |
Key Metric |
| GAAL (Singapore): |
USD 11.28 million (₹99.61 cr approx.) |
12.02% growth YoY; PBT of USD 1.15 million; PBDIT 10.20% of revenue |
| TAAL (Thailand): |
288.91 million Thai Baht (₹78.62 cr approx.) |
5.56% growth YoY; PBT of 15.81 million THB; PBDIT margin 7.23% |
| IFB Refrigeration Ltd (Associate, 41.40%): |
₹465.26 cr |
32.16% growth YoY; loss reduced to ₹3.37 cr from ₹44.17 cr; PBDIT of ₹25.50 cr |
A new step-down subsidiary, Schmid Automotive & Appliances GmbH (SAAG), was incorporated in Switzerland in December 2025 through GAAL to augment design and tooling capabilities for the Engineering Business. Switzerland was chosen for its concentration of fine blanking tooling expertise. SAAG is also providing design support for a complex part being developed for a strategic global customer of the Advanced Electronics Division.
Strategic Initiatives and Expansion
The company has undertaken several strategic initiatives during and after FY2025-26. A dedicated plant for the Advanced Electronics Division was set up in Bangalore in August 2025, with production commencing in September 2025 for a strategic customer. The Division is ramping up to full capacity by H1 FY2026-27. For the Engineering Division, the company has entered into a rental agreement for a built-up factory shed of 1,60,000 sq ft in Bangalore to set up an in-house chain manufacturing line, with operations expected to commence by Q4 FY2026-27. Additionally, a land measuring 16.31 acres has been acquired at Sanand II Industrial Area, Gujarat, for a planned greenfield stamping facility. A greenfield project for EV Battery Can manufacturing is also being contemplated at Sanand, Gujarat. The company is also looking for land in West Bengal for railways and engineering business. More than 60 companies have been evaluated for M&A opportunities, though no acquisition has been concluded so far.
CRISIL reaffirmed the company's credit rating at "CRISIL AA-/Positive" for long-term debts and "CRISIL A1+" for short-term debts on October 24, 2025. The company is also working with globally renowned consultants, including M/s Alvarez Marsal, for cost reduction, with expected additional material cost savings of around ₹120 crore to ₹150 crore in the current year.
Key Financial Ratios
The following table presents key financial ratios for FY2025-26 compared to FY2024-25:
| Ratio: |
FY2025-26 |
FY2024-25 |
| Debtors Turnover (days): |
27 |
31 |
| Inventory Turnover (days): |
34 |
35 |
| Interest Coverage Ratio (times): |
15.82 |
13.58 |
| Current Ratio: |
1.31 |
1.21 |
| Debt Equity Ratio (times): |
0.01 |
0.11 |
| Operating Profit Margin (%): |
3.92 |
3.92 |
| Net Profit Margin (%): |
2.45 |
2.61 |
| Return on Net Worth (%): |
13.43 |
15.01 |
Environmental and Social Performance
The company's Business Responsibility and Sustainability Report (BRSR) for FY2025-26, filed pursuant to Regulation 34(2)(f) of SEBI (LODR) Regulations, 2015, highlights significant progress on ESG metrics. The company sourced 52% of its total electricity consumption from renewable energy sources. The following table summarises key environmental and financial metrics:
| Parameter: |
FY2025-26 |
| Turnover (₹): |
5,475.91 cr |
| Net Worth (₹): |
881.94 cr |
| Total Energy Consumed (Giga Joules): |
2,53,484.22 |
| Renewable Energy Share: |
52% |
| Total GHG Emissions (Metric Tonnes CO2e): |
30,888.65 |
| Emission Intensity (MT CO2e/₹ cr turnover): |
5.67 |
| Total Waste Recycled (Metric Tonnes): |
28,662.98 |
| Total Water Withdrawal (kilolitres): |
1,58,873.41 |
| Total Scope 3 Emissions (Kilo tonnes CO2e): |
4,968.98 |
The company achieved Zero Liquid Discharge (ZLD) across all major manufacturing facilities. The workforce comprised 2,301 employees and 2,630 workers as of March 31, 2026, with 100% coverage under health and accident insurance. The Board of Directors included one female member out of twelve, representing 8.33% representation. No fines or penalties were imposed by regulators for bribery or corruption during the year. The company's CSR expenditure stood at ₹182.70 lakhs against a budgeted amount of ₹164.26 lakhs, with an excess spend of ₹18.44 lakhs available for set-off in succeeding financial years.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE559A01017/6c63372a0be94499.pdf
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