Indian Metals & Ferro Alloys Ltd. Results

Q2FY25 Quarterly Result Announced for Indian Metals & Ferro Alloys Ltd.

Iron & Steel Products company Indian Metals & Ferro Alloys announced Q2FY25 results Revenue: Rs 691.92 crore compared to Rs 692.61 during Q2FY24. EBITDA: Rs 175.62 crore compared to Rs 150.27 during Q2FY24. PAT: Rs 132.73 crore compared to Rs 89.96 during Q2FY24. Exports: Rs 652.97 crore compared to Rs 653.77 during Q2FY24. Subhrakant Panda, Managing Director said: “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, demand for stainless steel has marginally dropped largely due to economic uncertainty. However, the long awaited stimulus measures announced in China coupled with the recent uptick in PMI are positive signs for the metals sector in general. “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.”

Q1FY25 Quarterly Result Announced for Indian Metals & Ferro Alloys Ltd.

Iron & Steel Products company Indian Metals & Ferro Alloys announced Q1FY25 results: Revenue: Rs 662.28 million, a slight decrease compared to Q4FY24 (Rs 700.56 million) and Q1FY24 (Rs 701.73 million). EBITDA: Rs 167.31 million, an increase from Q4FY24 (Rs 125.65 million) but a decline compared to Q1FY24 (Rs 172.92 million). Profit After Tax (PAT): Rs 117.52 million, up from Rs 82.65 million in Q4FY24 and slightly higher than Rs 110.00 million in Q1FY24. Exports: Rs 626.97 million, showing a slight decrease from Q4FY24 (Rs 630.77 million) and a larger drop from Q1FY24 (Rs 662.76 million). Commenting on the results, Subhrakant Panda, Managing Director said: “The results for the first quarter reflect our strong focus on maximising operating efficiency, despite lower output on account of maintenance activities, and softening input costs have also provided a boost. While ferro chrome prices are rangebound at the moment, an uptick in demand driven by global stainless steel production – which is expected to be 6% higher this year – could result in improved realisations during the second half of the current fiscal. We will, of course, continue to benefit from our fully integrated business model and long term debt free balance sheet.” Mr Panda added: “India’s continued focus on public infrastructure coupled with revival in private sector investment augurs well for demand; and, the lending rate cut in China is also expected to bolster the economy. Meanwhile, elevated chrome ore prices for non-integrated producers will likely limit any downside to ferro chrome prices.”

Q4FY24 Quarterly Result Announced for Indian Metals & Ferro Alloys Ltd.

Iron & Steel Products company Indian Metals & Ferro Alloys announced Q4FY24 results: IMFA has reported its Q4 FY24 financial results, showcasing a revenue of Rs 700.56 crore with a notable EBITDA of Rs 135.21 crore. The company maintained a healthy EBITDA margin at 19.30% and achieved a Profit After Tax (PAT) of Rs 82.65 crore. The earnings per share (EPS) stood at Rs 15.32, indicating a robust return for shareholders. Export revenue contributed significantly to the company's earnings with a figure of Rs 630.77 crore. Operational Performance Ferro chrome production reached a new milestone at 65,139 tonnes, emphasizing IMFA's operational efficiency. With 67,981 tonnes sold, the ferro chrome sales volume reflects the company's strong market presence. Power generation was marked at 286 million units, supporting the company's self-sufficiency in power. Chrome ore raising also surpassed previous records, hitting over 6 lakh tonnes, which demonstrates a significant enhancement in mining operations. Commenting on the annual results, Subhrakant Panda, Managing Director said: “Excellent operational performance during the year with highest ever ferro chrome production, chrome ore raising, and captive power generation set the stage for a strong financial performance. We are poised to embark on our expansion and diversification plans on the back of a robust Balance Sheet with zero debt, and this will create substantial value in times to come.” Addressing the demand outlook, he said: “Even as there are some concerns due to ongoing geopolitical conflicts, economic stimulus measures announced by the Chinese Government augur well for commodities in general. Meanwhile, China remains a relatively high cost producer of ferro chrome which provides a base to prices. India’s focus on infrastructure with a large capital expenditure outlay in the interim budget will boost demand for stainless steel and, hence, ferro chrome.”

Q1FY24 Quarterly Result Announced for Indian Metals & Ferro Alloys Ltd.

Iron & Steel/Intermediate Products company Indian Metals & Ferro Alloys announced Q1FY24 results: Q1FY24 vs Q1FY23: Revenue of Rs 701.73 crore vs Rs 743.42 crore EBITDA of Rs 182.68 crore vs Rs 224.67 crore PAT of Rs 110.00 crore vs Rs 133.83 crore Exports of Rs 662.76 crore vs Rs 710.53 crore Q1FY24 vs Q4FY23: Revenue of Rs 701.73 crore vs Rs 636.90 crore EBITDA of Rs 182.68 crore vs Rs 143.61 crore PAT of Rs 110.00 crore vs Rs 63.65 crore Exports of Rs 662.76 crore vs Rs 603.37 crore Commenting on the results Subhrakant Panda, Managing Director said, “Despite softening commodity prices, the Q1 FY24 result is robust as we have benefited from lower input costs – primarily thermal coal and metallurgical coke. While there are global headwinds, the ongoing power crisis in South Africa along with stimulus measures to boost the Chinese economy is expected to support the ferrochrome prices. We, of course, continue to benefit from a fully integrated business model and a long-term debt-free Balance Sheet.” Panda further added, “Our expansion project in Kalinganagar, Odisha is on track with the Public Hearing being conducted successfully recently. We are also in active discussions to tie up hybrid renewable energy to meet our requirement for the project and comply with enhanced renewable power obligations (RPO).”