IMFA records robust performance in Q1 FY24
Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced Q1 FY24 results today for the period ending June 30th, 2023.
Financial Performance
Standalone for Q1 FY 24
| Q1 FY24 | Revenue | EBITDA | EBITDA Margin | PAT | PAT Margin | EPS | Exports |
| ₹ 701.73 cr | ₹ 182.68 cr | 26.03% | ₹ 110.00 cr | 15.68% | ₹ 20.39 | ₹ 662.76 cr |
Financial Highlights: (₹ in cr.)
| Performance indicators | Q1 FY24 | Q4 FY23 | Q1 FY23 |
| Revenue | 701.73 | 636.90 | 743.42 |
| EBITDA | 182.68 | 143.61 | 224.67 |
| PAT | 110.00 | 63.65 | 133.83 |
| Exports | 662.76 | 603.37 | 710.53 |
Operational Highlights:
| Performance indicators | Q1 FY24 | Q4 FY23 | Q1 FY23 |
| Ferro Chrome production (Tonnes) | 66,261 | 61,200 | 63,760 |
| Ferro Chrome sales (Tonnes) | 64,695 | 57,362 | 60,335 |
| Power generation (Million Units) | 290 | 266 | 261 |
| Chrome Ore raising (Tonnes) | 2,70,648 | 1,93,202 | 1,57,955 |
Management Comment:
Commenting on the results Mr 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 ferro chrome prices. We, of course, continue to benefit from a fully integrated business model and a long term debt free Balance Sheet.”
Mr 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).”