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IMFA reports robust financial performance in Q1 FY25

National, August 1, 2024: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced Q1 FY25 results today for the period ending June 30th, 2024.

Financial Performance

Standalone for Q1 FY25

Q1 FY25 Revenue EBITDA EBITDA Margin PAT PAT Margin EPS (not annualized) Exports
 662.28 cr  167.31 cr 25.26 %  117.52 cr 17.31 %  21.78  626.97 cr

Financial Highlights:                                                                                                                             ( in cr)

Performance indicators Q1 FY25 Q4 FY24 Q1 FY24
Revenue 662.28 700.56 701.73
EBITDA 167.31 125.65 172.92
PAT 117.52 82.65 110.00
Exports 626.97 630.77 662.76

Operational Highlights:

Performance indicators Q1 FY25 Q4 FY24 Q1 FY24
Ferro Chrome production (Tonnes) 60,976 65,139 66,261
Ferro Chrome sales (Tonnes) 63,035 67,981 64,695
Power generation (Million Units) 277 286 290
Chrome Ore raising (Tonnes) 202,772 117,874 270,648

Management Comment:

Commenting on the results, Mr 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.”

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