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Indian Metals & Ferro Alloys Ltd (IMFA) delivers robust performance in Q1 FY23



2022-08-15 06:45:44 Business

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July 26th, 2022: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading producer of ferro alloys, announced Q1 FY23 results today for the period ending June 30th, 2022.

Highlights of Q1 FY23 vs Q1 FY22
• Revenues of Rs 743.42 crore vs Rs 537.86 crore

• Exports of Rs 710.53 crore vs Rs 498.18 crore

• EBITDA of Rs 224.67 crore vs Rs 177.01 crore

• PAT of Rs 133.83 crore vs Rs 98.57 crore

Highlights of Q1 FY23 vs Q4 FY22
• Revenues of Rs. 743.42 crore vs Rs 756.71 crore

• Exports of Rs 710.53 crore vs Rs 724.80 crore

• EBITDA of Rs 224.67 crore vs Rs 193.95 crore

• PAT of Rs 133.83 crore vs Rs 142.63 crore

Operational Highlights of Q1 FY23 vs Q1 FY22
• FeCr production of 63,760 tonnes vs 58,640 tonnes

• FeCr sales of 60,335 tonnes vs 59,506 tonnes

• Power generation of 261 MU vs 260 MU

Commenting on the results, Mr Subhrakant Panda, Managing Director said: “Even as commodity prices have corrected on the back of continuing uncertainty due to geopolitical developments and weaker global economic growth, IMFA has posted a robust set of numbers for the first quarter. Our fully integrated business model coupled with long term offtake arrangements sets us apart from our peers; going ahead, we expect margins to sustain in view of correction in input costs and currency devaluation. Our Balance Sheet is exceptionally strong being debt free, and there is more than adequate liquidity to push ahead with our expansion plans.”

ABOUT IMFA: Indian Metals & Ferro Alloys Ltd (IMFA) is India’s leading fully integrated producer of value added ferro chrome with installed capacity of 284,000 tonnes per annum. Incorporated in 1961 and headquartered in Bhubaneswar (Odisha), the Company has manufacturing complexes in Therubali & Choudwar backed up by captive power generation of 204.5 MW (including 4.5 MWp solar) and own chrome ore mines in Sukinda & Mahagiri. IMFA’s operations are benchmarked to international standards and are ISO 9001 (Quality Management) certified.

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