IMFA’s record performance a precursor to growth

Mumbai, January 27, 2022: Indian Metals & Ferro Alloys Ltd (IMFA; established 1961), the country’s leading producer of ferro alloys, announced its quarterly results today for the period ending December 31st, 2021.
 
Highlights of Q3 FY22 vs Q3 FY21 (y-o-y)
• Revenues of Rs 655.22 crore vs Rs 425.46 crore
• Exports of Rs 583.46 crore vs Rs 397.01 crore
• EBITDA of Rs 214.87 crore vs Rs 73.05 crore
• PAT of Rs.121.74 crore vs Rs 32.14 crore
 
Highlights of 9M FY22 vs 9M FY21
• Revenues of Rs 1846.24 crore vs Rs 1268.12 crore
• Exports of Rs 1717.87 crore vs Rs1175.89 crore
• EBITDA of Rs 634.88 crore vs Rs 246.53 crore
• PAT of Rs 365.24 crore vs Rs 100.34 crore
 
Operational Highlights
• FeCr production of 61,545 tonnes
• FeCr sales of 55,403 tonnes
• Power generation of 274 mu
 
Business Highlights
• Prepayment of Rs. 214 crore long term debt as on date.
• Debt: Equity ratio of 0.07; shall be debt free by March 2022
• Intimation received regarding allotment of 124.26 acres land in Kalinga Nagar for FeCr expansion project.
 
Commenting on the results, Mr Subhrakant Panda, Managing Director said: “Our record performance in the ongoing fiscal has enabled us to prepay long term debt thereby strengthening Balance Sheet ahead of our proposed 100,000 tonnes per annum ferro chrome expansion. I am grateful to the State Government for allotting land for the project which we will now take us expeditiously. Ferro Chrome demand continues to be strong, and a trend reversal of prices is seen with recent upward movement. We expect strong financial performance in the next fiscal which will enable us to focus on growth while also rewarding shareholders .”