Upcoming 1:1 Bonus Issue: Record Date On 30th May, To Be Credited By 23 July; Buy Or Avoid The Stock?

IFGL Refractories, which was founded in 1979, provides speciality refractories and operating systems through more than ten manufacturing facilities in Asia, Europe, and North America. Offering a vast array of specialist refractories products and solutions to clients worldwide, IFGL Group is one of the fastest-growing brands in the global refractories market. IFGL supports clients in more than 50 countries with ten or more strategically placed production facilities spread around Asia, Europe, and North America.

IFGL Refractories Bonus Shares

The Board of Directors " recommended issue of Bonus Equity Shares, subject to approval of the shareholders of the Company and others, as may be necessary in the ratio of 1:1 i.e. 1 bonus equity share of Rs. 10/- each for every 1 fully paid up equity share held. For this purpose, the Board approved draft of Postal Ballot Notice and also fixed Friday, 30th May, 2025 as the Record Date to determine Members of the Company eligible to vote on the related Ordinary Resolution during Friday, 6th June, 2025 to Saturday, 5th July, 2025 being e-voting period," said IFGL Refractories in a stock exchange filing.

"In view of aforesaid recommendation for issue of Bonus Equity Shares, the Board considered and approved increase of Company's Authorised Share Capital of Rs. 63 crores divided into 4,30,00,000 Equity Shares of Rs. 10/ each and Rs. 20,00,000 5% Redeemable Non Cumulative Preference Shares of Rs 100/- each to Rs 100 Crores divided into 8,00,00,000 Equity Shares of Rs. 10/- each and Rs. 20,00,000 5% Redeemable Non Cumulative Preference Shares of Rs 100/- each and consequent alteration of Clause V of Memorandum of Association of the Company, subject to approval of shareholders of the Company and others as may be necessary. For this purpose, an Ordinary Resolution will form part of aforesaid Postal Ballot Notice," said IFGL Refractories in a regulatory filing.

The estimated date by which such bonus shares would be credited/dispatched is on or before 23rd July, 2025 ie within two months from Saturday, 24th May, 2025, being the date on which the company's Board recommended the bonus issue.

IFGL Refractories Dividend

On Wednesday, May 7, 2025, the Board had already announced an interim dividend for FY 2024-2025 at 60%, or Rs. 6/- per equity share of Rs. 10. Thus, the total dividend for FY 2024-2025 is 70%, or Rs 7 for every Rs 10 equity share.

"The Board decided to fix Friday, 6th June, 2025 as the Record Date for determining Members of the Company eligible for said Final Dividend, which will however be paid subject to deduction of tax wherever necessary, after ensuing AGM but not later than thirty days therefrom," said IFGL Refractories in a regulatory filing.

IFGL Refractories Q4 Results

In the March 2025 quarter, the company's revenue from operations was Rs 269.73 crore, increasing 28.8% from Rs 209.42 crore in the March 2024 quarter. In Q4FY25, its net profit was Rs. 16.91 crore, an 8.68% improvement over Q4FY24's Rs. 15.56 crore. EBITDA increased 7.12% from Rs. 37.78 crore in the March 2024 quarter to Rs. 40.47 crore in the March 2025 quarter.

IFGL Refractories Share Price Target

"IFGL Refractories stock price is bullish but also overbought on the Daily charts with next resistance at 563. Investors should be booking profits at current levels as a Daily close below support of 494 could lead to a target of 453 in the near term," commented A R Ramachandran, independent research analyst.

Disclaimer

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