Mr Wayne Vardy has resigned as Director of Monocon International Refractories Limited, a material subsidiary of ifgl refractories , effective 31 May 2026 due to personal reasons. The resignation was tendered via a letter dated 27 April 2026 and has been accepted by the Board. Consequently, Mr Vardy ceased to be Director of Monocon International Refractories Limited with effect from the specified date.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the change in directorship is due to personal reasons and not a result of any operational or governance issues within the subsidiary.

Details of Resignation

The following table outlines the key particulars of the directorial change as disclosed to the exchanges:

Monocon International Refractories Limited is identified as a material subsidiary of IFGL Refractories Ltd. The company has stated that the information is also available on its official website. The resignation marks a change in the leadership structure of the material subsidiary, though the company has not indicated any immediate impact on its broader operations.

IFGL Refractories reported a consolidated net profit of ₹34.7 crore for the financial year ended March 31, 2026, a decline from ₹43.0 crore in the previous year. On a standalone basis, net profit stood at ₹38.8 crore compared to ₹57.6 crore in FY25. The company's Board of Directors approved the audited financial results for both standalone and consolidated bases at a meeting held on May 30, 2026. The Board also recommended a final dividend of ₹2.15 per equity share, subject to shareholder approval at the upcoming Annual General Meeting.

Q4 Consolidated Performance

For the fourth quarter, IFGL Refractories posted a strong year-on-year improvement in consolidated net profit, which rose to ₹14.3 crore from ₹8.4 crore in the same quarter of the previous year. Total income for the quarter grew to ₹485.9 crore compared to ₹452.2 crore year-on-year. EBITDA improved to ₹41.8 crore from ₹36.9 crore, while EBITDA margin expanded to 8.6% from 8.2% in the corresponding period.

The following table summarises the Q4 consolidated financial highlights:

Full Year Financial Performance

For the full year FY26, consolidated total income increased to ₹1,904.0 crore from ₹1,670.4 crore in the previous year. On a standalone basis, total income rose to ₹1,116.5 crore compared to ₹1,013.9 crore in FY25. The company reported an exceptional item of ₹5.2 crore for the year, attributed to the incremental impact of the New Labour Codes.

Dividend and AGM

The Board resolved to recommend a final dividend of ₹2.15 per equity share of ₹10 face value for FY26. The record date to determine eligibility for the dividend has been fixed as July 29, 2026. The 19th Annual General Meeting is scheduled for August 5, 2026, via video conferencing.

Management Commentary

Commenting on the performance, Mr. Mihir Bajoria, Managing Director of IFGL Refractories Limited, noted that FY26 was a year of resilient execution despite a challenging global operating environment characterized by elevated raw material costs and subdued export demand. He highlighted that domestic business maintained growth momentum, driven by strong customer relationships and technical capabilities. Mr. Bajoria also mentioned that the legacy goodwill arising from the 2017 amalgamation has been fully amortized, and reported earnings from FY27 onwards will no longer be impacted by the annual non-cash goodwill amortization charge of approximately ₹26.7 crore.