IFB Industries (IFBIND) Q4 23/24 earnings summary

Executive summary

• FY24 standalone revenue from operations rose 5% to ₹4,311.68 crore; EBITDA increased 31% to ₹240.22 crore and PAT reached ₹68.88 crore.

• FY24 consolidated revenue from operations was ₹4,437.84 crore; profit attributable to owners rose to ₹50.36 crore from ₹14.94 crore.

• Margin recovery, fixed-cost reduction and working-capital efficiency were priorities, with a double-digit margin target by end-Q2 FY25.

Financial highlights

• Q4 standalone revenue from operations grew 7% to ₹1,055.33 crore; EBITDA rose 45% to ₹54.35 crore and PAT was ₹13.86 crore versus a ₹7.55 crore loss.

• FY24 standalone total income was ₹4,343.99 crore; PBT was ₹90.36 crore versus ₹34.40 crore in FY23.

• Standalone EBITDA margin was 5.10% in Q4 and 5.53% for FY24; material cost declined 160 bps YoY in Q4 and 200 bps for FY24.

• Q4 consolidated revenue was ₹1,090.20 crore and profit attributable to owners was ₹12.00 crore versus a ₹9.94 crore loss; FY24 consolidated PBT was ₹72.99 crore.

Outlook and guidance

• Double-digit margin is targeted by end-Q2 FY25, supported by fixed-expense reduction, material-cost actions and sales improvement.

• FY25 AC sales target was raised to 500,000 units; 110,000 units sold in April–May with positive EBITDA, while supply constraints persisted.

• Home Appliances aims for 15%+ revenue growth; priorities include stronger channel reach, cost reduction and growth in front- and top-load washers.

• Engineering targets 15%+ organic growth; larger-scale growth is expected through M&A, with acquisitions under consideration.

• Refrigerator sales target is 50,000 units by August 2024; BLDC appliance motor commercial production is planned from Q3 FY25.