Promoter holding
64.27%
IR
Ifgl Refractories Limited - Due diligence report
A 360° intelligence report on Ifgl: trust score, financial health, credit view, compliance, directors, growth and distress signals - generat…
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Ifgl — 360° Intelligence Report
Generated from MCA filings & public records50/100
Trust Score
Moderate
Ifgl is assessed as Moderate with a Trust Score of 50/100. Ifgl is a public limited indian non-government company incorporated in 1989, operating in the Machinery and Equipment sector. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and low financial risk profile.
Report generated on 01 Aug 2026 from the latest processed filings. Ifgl Refractories Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
50/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
10/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
85/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
95/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreModerate
55/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreCaution Indicated
30/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 95/100 Low Risk
- Liabilities ≈ 38% EBITDA - serviceable.
- No open charges - unencumbered balance sheet.
- Moderate gearing (D/E 1.42).
- Working-capital cover adequate.
- Profitable - internal accruals available.
Charges position: 0 open (-) · 2 satisfied (3.20 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| The Hongkong And Shanghai Banking Corporation Limited | 2 | 48.0 cr |
Compliance Score: 10/100 Caution Indicated
- Company status is "Amalgamated" - not Active.
- Last balance sheet is for Mar 2016 - filings overdue.
- Litigation present in 5 court forum(s).
Legal cases on record (5)
05
Director Intelligence
Stability score: 55/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| YUZO KAWATSU | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAJESH AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KANHAIYA PODDAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KANWAR SANYAL SATYABRATA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUDHAMOY KHASNOBIS | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHISHIR KUMAR BAJORIA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DURAISWAMY GUNASEELA RAJAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SURENDRA MUNSHI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| BHARATI RAY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAJESH AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PRADEEP BAJORIA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DEBAL KUMAR BANERJI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 12 directors on the board.
- YUZO KAWATSU has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- Stable board - no exits in 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2016)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2016 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
2
Group entities
2
Capital events
1 allotment(s) · 0 transfer(s)
Promoters hold a majority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Ei Ceramics Llc, Usa | Subsidiary Company | 74.00% |
| Goricon Metallurgical Services Limited, Uk | Subsidiary Company | 74.00% |
| Hofmann Ceramic Gmbh, Germany | Subsidiary Company | 74.00% |
| Hofmann Ceramic Limited, Uk | Subsidiary Company | 74.00% |
| Hofmann Ceramic Llc, Usa | Subsidiary Company | 74.00% |
| Hofmann Gmbh & Co.ohg, Germany | Subsidiary Company | 74.00% |
| Ifgl Gmbh, Germany | Subsidiary Company | 74.00% |
| Ifgl Inc, Usa | Subsidiary Company | 74.00% |
| Ifgl Monocon Holdings Limited, Uk | Subsidiary Company | 74.00% |
| Ifgl Worldwide Holdings Limited, Isle Of Man | Subsidiary Company | 74.00% |
Key managerial personnel: KANHAIYA PODDAR (CFO) · SHISHIR KUMAR BAJORIA (Whole-time director) · PRADEEP BAJORIA (Managing Director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 50 · Distress 30
Growth signals & trust indicators
Operating for 36+ years.
Distress signals & risk flags
Revenue declined year-on-year.
Profit declined two years in a row.
Statutory filings appear overdue.
Adverse company status: Amalgamated.
Compliance score is weak (10/100).
5 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence28/100
Caution indicated
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 4 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment71/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- No existing security registered - first-charge position available.
- Compliance gaps should be priced into terms.
Investor view62/100
Mixed indicators
Growth quality and scalability through an investor lens.
- No clear growth signals in the filed years.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events11 May 2017
Director appointed
YUZO KAWATSU (Additional Director)
06 May 2017
Director ceased
HISATAKE OKUMURA
30 Jan 2017
Director ceased
AMAR NATH SADHU
22 Nov 2016
Charge satisfied
The Hongkong And Shanghai Banking Corporation Limited
12 Nov 2016
Director ceased
KUNAL DALMIA
19 Aug 2016
Last AGM held
Annual general meeting
31 Mar 2016
Latest balance sheet
Filed with ROC
23 Feb 2016
Charge satisfied
The Hongkong And Shanghai Banking Corporation Limited
22 Aug 2015
Director ceased
BHARATI RAY
01 Apr 2015
Director appointed
SHISHIR KUMAR BAJORIA (Whole-time director)
Director ceased
SADAYOSHI TATEISHI
03 Sep 2014
Director appointed
BHARATI RAY (Director)
10 May 2014
Director appointed
KANHAIYA PODDAR (CFO)
20 Feb 2013
Director ceased
YOSHIHIRO KONNO
24 Aug 2012
Director appointed
SUDHAMOY KHASNOBIS (Director)
10
Key Observations
Auto-generated from the data aboveDebt-to-equity stands at 2.1x - manageable leverage.
Net worth is positive.
12 active director(s) / partner(s); review board churn before relying on management continuity.
All 2 registered charge(s) stand satisfied - past borrowings repaid.
Operates a group structure with 2 subsidiary(ies) - assess on a consolidated basis.
Promoters hold a majority stake as per the FY 2016 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 1 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Diamond Projects Limited | U36911GJ1994PLC021030 | Vadodara, Gujarat, India |
| Cello | U25209MH2008PTC180662 | Mumbai, Maharashtra, India |
| Zylogplastalloys | U25209GJ1984PTC094437 | Ahmedabad, Gujarat, India |
| Sacos Indigo Private Limited | U24222MH1985PTC214671 | Mumbai, Maharashtra, India |
| Classic Stripes Private Limited | U74999MH1987PTC044849 | Mumbai, Maharashtra, India |
| Karur K.C.P Packkagings Limited | L21029PY1991PLC000730 | Puducherry, Pondicherry, India |
| Crown Alba Writing Instruments India Private Limited | U36991UP2004PTC038128 | Kanpur, Uttar Pradesh, India |
| Rotomacpens | U51396UP1992PTC014605 | Uttar Pradesh, Uttar Pradesh, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Ifgl before audits and certifications: compliance score 10/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Ifgl: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Favourable lending indicators. Credit risk score 95/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 50/100, margin trends, ownership structure and peer set for Ifgl - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Caution indicated. Trust score 50/100, distress signals and MSME payment-delay disclosures - know whether Ifgl pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (5 case(s) on record), regulatory flags, charge documents trail and director networks for Ifgl - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Ifgl an active company?
Ifgl has MCA status “Amalgamated” with a compliance score of 10/100 (Caution Indicated).
Is Ifgl financially healthy?
Ifgl has a Financial Health Score of 85/100 (Low Risk) based on its filed financial statements.
Should I do business with Ifgl?
Its overall Trust Score is 50/100 (Moderate). Vendor verdict: Caution indicated. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Ifgl?
Promoters hold a majority stake - exact percentages are in the full report. 12 active director(s) are on record.
Does Ifgl have loans or charges against its assets?
No open charges - all 2 registered charge(s) stand satisfied, indicating past borrowings were repaid.
Is Ifgl up to date with its ROC filings?
Last balance sheet is for Mar 2016 - filings overdue. Overall compliance score: 10/100 (Caution Indicated).
Is it risky to lend to Ifgl?
Its Credit Risk Score is 95/100 (Low Risk). Banker verdict: Favourable lending indicators.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
