IMFA Q2 profit rises 51% year on year; board approves INR 375 crore capex
Higher ferrochrome volumes lifted IMFA's September-quarter results, although profit and EBITDA were lower than in the June quarter.
Indian Metals & Ferro Alloys reported profit after tax of INR 148.77 crore for the quarter ended 30 September 2026, up 50.62% from INR 98.77 crore a year earlier, according to its results release. Revenue rose 34.72% to INR 968.17 crore, while EBITDA increased to INR 235.04 crore from INR 138.34 crore.
The year-on-year improvement came alongside higher ferrochrome volumes. Production reached 86,652 tonnes, against 65,671 tonnes a year earlier, while sales increased to 81,998 tonnes from 69,765 tonnes. Exports stood at INR 817.54 crore, compared with INR 603.96 crore.
Sequentially, revenue was slightly above the June quarter's INR 960.45 crore, but EBITDA and profit after tax declined from INR 281.27 crore and INR 191.49 crore, respectively.
The board approved INR 375 crore in capital expenditure to increase chrome ore raising and develop low-carbon ferrochrome production. The release did not provide a detailed spending schedule or allocation between the two activities.
At the Kalinganagar greenfield project, inaugurated on 14 October, the first furnace is operational and commissioning of the second has begun, the company said. It expects the expansion to take total ferrochrome capacity to 534,000 tonnes annually. The release says hot metal tapping from the second furnace is expected soon, so the entire expanded capacity should not yet be described as fully operational.
Managing director Subhrakant Panda said capacity expansion, hybrid renewable power and a wider product range, including proposed low-carbon ferrochrome, form part of the company's growth plans.
