Challenging Q3; Results Supported by Strong Fundamentals

Indian Metals & Ferro Alloys Ltd

Fully integrated business model, Zero long term debt

Mumbai, 30th January 2023: Indian Metals & Ferro Alloys (IMFA) has posted Rs 10.43 crore in its consolidated profit after tax (PAT) during the December quarter, helped by its fully integrated business model and zero long term debt.

In a statement, IMFA Managing Director Subhrakant Panda said: “It was a challenging quarter on account of high raw material prices even as finished product prices corrected, and we adjusted output by carrying out pending maintenance activity; however, our fully integrated business model and zero long term debt helped tide us over. Q4 is expected to be noticeably better on account of China’s reopening which is providing a boost, as well as sharp increase in electricity price in South Africa.”

Headquartered in Bhubaneswar (Odisha), IMFA is India’s leading fully integrated producer of value added ferro chrome installed capacity of 284,000 tonnes per annum..

The company has manufacturing complexes in Therubali and Choudwar backed up by captive power generation of 204.55 MW (including 4.5 MW solar) and owns chrome ore mines in Sukinda and Mahagiri.

BSE Code: 533047 NSE Code: IMFAEQ

Headquartered in Bhubaneswar; manufacturing complexes in Therubali & Choudwar, Odisha

Chrome Ore mines in Sukinda & Mahagiri; 204.5 MW captive power generation incl 4.5 MWp solar

190 MVA installed furnace capacity (284,000 tonnes per annum of value added ferro chrome)

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