Indian Metals Q3 profit zooms nearly 10-fold, stock price surges 13% to record high

IMFA Q3 financial results: shares of Indian Metals and Ferro Alloys (IMFA) have surged 12.78 per cent to a record high of Rs 621 apiece on NSE after company posted a ten-fold rise in its third-quarter profit for current fiscal.

Net profit

IMFA's net profit surged to Rs 108.7 crores in Q3 FY24 compared to Rs 11 crores in same period last year (YoY). This nearly 10-fold increase underscores company's efficient operational manment and strategic financial decisions.

Revenue growth

company reported a 10 per cent growth in revenue, with figures reaching Rs 685.3 crores in Q3, up from Rs 623.6 crores in corresponding period last year (YoY). This growth is indicative of IMFA's resilience and aptability in navigating market dynamics.

EBITDA performance

IMFA's earnings before interest, taxes, depreciation, and amortisation (EBITDA) soared to Rs 158.6 crores, a substantial increase from Rs 58.9 crores reported in previous year (YoY). This robust EBITDA performance reflects company's operational efficiency and strategic decision-making.

Margin expansion

company's margin expanded to an impressive 23.1 per cent, a significant improvement from 9.4 per cent in same period last year (YoY). This indicates company's ability to optimise its resources and enhance overall operational efficiency.

A pioneer in ferro chrome production

Established in 1961 in Eastern State of Odisha, IMFA has earned its reputation as India's foremost fully integrated producer of value-ded ferro chrome. company boasts a robust infrastructure, including 190 MVA installed furnace capacity, supported by a 204.55 MW captive power generation capacity, including 4.55 MWp solar. IMFA's extensive chrome ore mining tracts furr solidify its position in industry.

Global recognition and collaborations

IMFA's commitment to quality is evident through its comprehensive ISO 9001 Quality Manment certification. Globally, company is ackwledged as a reliable and cost-competitive producer, focusing on customer satisfaction. IMFA has nurtured enduring relationships with multinationals such as POSCO of South Korea, Marubeni Corporation, and Nisshin Steel of Japan. Within India, leing names like Jindal Stainless, AIA Engineering, and Shah Alloys stand as a testament to IMFA's prominence in domestic market.