IFGLEXPOR
IFGL Refractories Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
IFGLEXPOR
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹209 today
BEAR
₹72
-66%
5.8% a year · 14.1x exit
BASE
₹133
-36%
10% a year · 25.1x exit
BULL
₹162
-22%
13.6% a year · 29.6x exit
Where the market has priced it
10x43x today — outside the range37x
- the guided figure reached earnings through a low-confidence bridge
- at 43x its FY26 earnings the stock already trades above the top of its own ten-year range (30x)
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹4.81 (screener) |
|---|---|
| Guided growth | 10% a year, said on the call of 08-Jun-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 14.07x / 25.13x / 29.64x, this company’s own p20 / median / p80 across 9 filed years |
| Filed-industry peers | median 31x across 30 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 10%
Amit Agarwal: At least we are targeting a double-digit growth for sure.
Call 08-Jun-2026 · bridge confidence low · transcript PDF