IMFA Reports Strong Q2 FY25 Financial Performance Driven by Higher Output and Operational Efficiency

Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro alloys, announced robust financial results for the second quarter of FY25, ending on September 30, 2024.

Financial Performance Highlights

For Q2 FY25, IMFA reported strong standalone financial results:

Revenue: ₹691.92 crore
EBITDA: ₹175.62 crore, with a margin of 25.38%
Profit After Tax (PAT): ₹132.73 crore, achieving an 18.6% PAT margin
Earnings Per Share (EPS): ₹24.60 (not annualized)
Exports: ₹652.97 crore

This strong performance underscores IMFA's improved margins and profitability compared to the previous quarter, driven by higher production levels and operational efficiencies. Key figures from the company's half-yearly (H1 FY25) performance also reflect IMFA’s resilience in a challenging market, with a PAT of ₹250.25 crore and revenue totaling ₹1,354.2 crore.

Operational Highlights

IMFA’s operational metrics for Q2 FY25 demonstrated growth and stability:

Ferro Chrome Production: 68,248 tonnes
Ferro Chrome Sales: 66,951 tonnes
Power Generation: 277 million units
Chrome Ore Production: 104,327 tonnes

Management Remarks

Mr. Subhrakant Panda, Managing Director of IMFA, attributed the company’s solid Q2 performance to increased output, a focus on operational efficiency, and stable input costs and selling prices, which collectively led to enhanced profit margins. He commented, “Higher output, continued focus on operating efficiency, and stable input costs and selling prices have led to improved margins in the second quarter results.”

On the global front, Mr. Panda acknowledged that demand for stainless steel has softened amid economic uncertainties. However, he pointed to recent positive developments in China, including new stimulus measures and an uptick in the Purchasing Managers’ Index (PMI), as promising signals for the metals sector.

"Domestic ferro chrome prices have softened recently, making it unviable for non-integrated producers. In this context, access to captive ore and a debt-free balance sheet give us confidence, and we are focused on leveraging it to register superior performance,” Mr. Panda added.

About IMFA

Founded in 1961 and headquartered in Bhubaneswar, IMFA is India’s foremost fully integrated producer of high-quality ferrochrome, with an installed furnace capacity of 190 MVA, producing up to 284,000 tonnes annually. The company’s manufacturing facilities in Therubali and Choudwar are supported by a captive power generation capacity of 204.5 MW (including 4.5 MW of solar power) and its own chrome ore mines in Sukinda and Mahagiri. Known for its commitment to international standards, IMFA is ISO 9001 certified for Quality Management.

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