IFGL Refractories Limited

NSEI:IFGLEXPOR Stock Report

Market Cap: ₹16.1b

IFGL Refractories Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Arasu Shanmugam

Chief executive officer

₹20.1m

Total compensation

CEO salary percentage91.69%
CEO tenure1.7yrs
CEO ownershipn/a
Management average tenure2.3yrs
Board average tenure3.1yrs

Recent management updates

Recent updates

IFGL Refractories' (NSE:IFGLEXPOR) Soft Earnings Are Actually Better Than They Appear

Nov 16
IFGL Refractories' (NSE:IFGLEXPOR) Soft Earnings Are Actually Better Than They Appear

IFGL Refractories Limited's (NSE:IFGLEXPOR) Price In Tune With Earnings

Oct 01
IFGL Refractories Limited's (NSE:IFGLEXPOR) Price In Tune With Earnings

Slowing Rates Of Return At IFGL Refractories (NSE:IFGLEXPOR) Leave Little Room For Excitement

Sep 02
Slowing Rates Of Return At IFGL Refractories (NSE:IFGLEXPOR) Leave Little Room For Excitement

Here's Why IFGL Refractories (NSE:IFGLEXPOR) Has A Meaningful Debt Burden

Jul 26
Here's Why IFGL Refractories (NSE:IFGLEXPOR) Has A Meaningful Debt Burden

Is It Too Late To Consider Buying IFGL Refractories Limited (NSE:IFGLEXPOR)?

Jul 04
Is It Too Late To Consider Buying IFGL Refractories Limited (NSE:IFGLEXPOR)?

Why Investors Shouldn't Be Surprised By IFGL Refractories Limited's (NSE:IFGLEXPOR) 27% Share Price Surge

May 13
Why Investors Shouldn't Be Surprised By IFGL Refractories Limited's (NSE:IFGLEXPOR) 27% Share Price Surge

IFGL Refractories (NSE:IFGLEXPOR) Is Reinvesting At Lower Rates Of Return

Jan 28
IFGL Refractories (NSE:IFGLEXPOR) Is Reinvesting At Lower Rates Of Return
User avatar

Expansion Into India's Growing Steel Market And Joint Venture With Marvels International Will Strengthen Future Prospects

Expansion into nonferrous sectors and a joint venture for new facility development could improve revenue diversity and future earnings.

IFGL Refractories (NSE:IFGLEXPOR) Takes On Some Risk With Its Use Of Debt

Nov 14
IFGL Refractories (NSE:IFGLEXPOR) Takes On Some Risk With Its Use Of Debt

Investors Met With Slowing Returns on Capital At IFGL Refractories (NSE:IFGLEXPOR)

Oct 27
Investors Met With Slowing Returns on Capital At IFGL Refractories (NSE:IFGLEXPOR)

IFGL Refractories (NSE:IFGLEXPOR) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Jul 14
IFGL Refractories (NSE:IFGLEXPOR) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Is IFGL Refractories (NSE:IFGLEXPOR) Using Too Much Debt?

Jun 13
Is IFGL Refractories (NSE:IFGLEXPOR) Using Too Much Debt?

A Piece Of The Puzzle Missing From IFGL Refractories Limited's (NSE:IFGLEXPOR) 26% Share Price Climb

Apr 10
A Piece Of The Puzzle Missing From IFGL Refractories Limited's (NSE:IFGLEXPOR) 26% Share Price Climb

Investors Give IFGL Refractories Limited (NSE:IFGLEXPOR) Shares A 26% Hiding

Feb 14
Investors Give IFGL Refractories Limited (NSE:IFGLEXPOR) Shares A 26% Hiding

Should You Be Adding IFGL Refractories (NSE:IFGLEXPOR) To Your Watchlist Today?

Feb 13
Should You Be Adding IFGL Refractories (NSE:IFGLEXPOR) To Your Watchlist Today?

These 4 Measures Indicate That IFGL Refractories (NSE:IFGLEXPOR) Is Using Debt Reasonably Well

Dec 21
These 4 Measures Indicate That IFGL Refractories (NSE:IFGLEXPOR) Is Using Debt Reasonably Well

Is IFGL Refractories Limited (NSE:IFGLEXPOR) Potentially Undervalued?

Nov 07
Is IFGL Refractories Limited (NSE:IFGLEXPOR) Potentially Undervalued?

Here's Why We Think IFGL Refractories (NSE:IFGLEXPOR) Is Well Worth Watching

Oct 12
Here's Why We Think IFGL Refractories (NSE:IFGLEXPOR) Is Well Worth Watching

IFGL Refractories (NSE:IFGLEXPOR) Has Some Way To Go To Become A Multi-Bagger

Jul 04
IFGL Refractories (NSE:IFGLEXPOR) Has Some Way To Go To Become A Multi-Bagger

IFGL Refractories (NSE:IFGLEXPOR) Has A Somewhat Strained Balance Sheet

Jun 07
IFGL Refractories (NSE:IFGLEXPOR) Has A Somewhat Strained Balance Sheet

Shareholders May Be More Conservative With IFGL Refractories Limited's (NSE:IFGLEXPOR) CEO Compensation For Now

Sep 22
Shareholders May Be More Conservative With IFGL Refractories Limited's (NSE:IFGLEXPOR) CEO Compensation For Now

Returns On Capital At IFGL Refractories (NSE:IFGLEXPOR) Paint A Concerning Picture

Jun 21
Returns On Capital At IFGL Refractories (NSE:IFGLEXPOR) Paint A Concerning Picture

IFGL Refractories (NSE:IFGLEXPOR) May Have Issues Allocating Its Capital

Feb 18
IFGL Refractories (NSE:IFGLEXPOR) May Have Issues Allocating Its Capital

CEO Compensation Analysis

How has Arasu Shanmugam's remuneration changed compared to IFGL Refractories's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2025n/an/a

₹297m

Jun 30 2025n/an/a

₹291m

Mar 31 2025₹20m₹18m

₹430m

Dec 31 2024n/an/a

₹471m

Sep 30 2024n/an/a

₹508m

Jun 30 2024n/an/a

₹767m

Mar 31 2024₹13m₹13m

₹817m

Dec 31 2023n/an/a

₹985m

Sep 30 2023n/an/a

₹1b

Jun 30 2023n/an/a

₹943m

Mar 31 2023₹1mn/a

₹792m

Compensation vs Market: Arasu's total compensation ($USD226.93K) is about average for companies of similar size in the Indian market ($USD186.67K).

Compensation vs Earnings: Arasu's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Arasu Shanmugam (58 yo)

1.7yrs
Tenure
₹20,095,000
Compensation

Mr. Arasu Shanmugam is Chief Executive Officer of India at IFGL Refractories Limited since March 1, 2024 and served as its Chief Operating Officer since February 23, 2023 until March 1, 2024 and also serve...

Leadership Team

NamePositionTenureCompensationOwnership
Shishir Bajoria
Executive Chairman18.2yrs₹30.90m5.11%
₹ 823.1m
Arasu Shanmugam
CEO India & Whole-Time Director1.7yrs₹20.10mno data
Amit Agarwal
Chief Financial Officer1yr₹4.96mno data
Hirdesh Sehgal
Chief Operating Officer1.3yrs₹6.97mno data
Rajesh Agarwal
General Counsel & Executive Director3yrs₹18.55mno data
Mansi Damani
Company Secretary & Compliance Officer8.3yrs₹3.81mno data
Narendra Mishra
Chief Research Officer1.8yrs₹10.53mno data
M. Chatterjee
Vice President of International Business8.3yrs₹7.60mno data
S. Chandra
Vice President of Domestic Marketing8.3yrs₹9.18mno data
S. Mattoo
Vice President of International Business8.3yrs₹7.53mno data
Manoranjan Beura
Chief Sales Officerless than a yearno datano data
Manoj Rakhecha
Chief Executive Officer of Monocon International Refractories Ltd.2.3yrs₹7.39mno data
2.3yrs
Average Tenure
58.5yo
Average Age

Experienced Management: IFGLEXPOR's management team is considered experienced (2.3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Shishir Bajoria
Executive Chairman18.2yrs₹30.90m5.11%
₹ 823.1m
Arasu Shanmugam
CEO India & Whole-Time Director1.7yrs₹20.10mno data
Rajesh Agarwal
General Counsel & Executive Director3yrs₹18.55mno data
Mihir Bajoria
MD & Non-Executive Non-Independent Directorless than a yearno data0.61%
₹ 97.8m
Gaurav Swarup
Independent Non Executive Director3.1yrs₹240.00kno data
Duraiswamy Rajan
Independent Non-Executive Director8.3yrs₹345.00k0.0011%
₹ 178.8k
Anita Gupta
Independent Non Executive Director3.1yrsno datano data
Sudhamoy Khasnobis
Independent Non-Executive Director8.3yrs₹360.00kno data
Debal Banerji
Independent Non-Executive Director8.3yrs₹350.00kno data
3.1yrs
Average Tenure
68.5yo
Average Age

Experienced Board: IFGLEXPOR's board of directors are considered experienced (3.1 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/19 01:23
End of Day Share Price 2025/11/19 00:00
Earnings2025/09/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

IFGL Refractories Limited is covered by 4 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Bhalchandra ShindeAnand Rathi Shares and Stock Brokers Limited
null nullAsian Markets Securities Private Limited
Abhisar JainCentrum Broking Limited