Indian Metals & Ferro Alloys Ltd

Indian Metals & Ferro Alloys Ltd

₹ 736 -0.45%
16 Jul 12:20 p.m.
About

Indian Metals and Ferro Alloys Limited (IMFA) is a leading, fully integrated producer of Ferro Chrome in India which is primarily used in the production of stainless steel. It was set up in 1961. [1]

Key Points

Business Segment
Co. has emerged as India’s largest fully integrated ferro chrome manufacturer[1] and leading producer of ferro chrome in India accounting for 20% of output and 25% of exports.[2] Exports are primarily to China, Japan and Taiwan.[3]

  • Market Cap 3,968 Cr.
  • Current Price 736
  • High / Low 880 / 329
  • Stock P/E 10.4
  • Book Value 390
  • Dividend Yield 2.04 %
  • ROCE 24.7 %
  • ROE 19.4 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 85.5% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 11.2% over past five years.
  • Earnings include an other income of Rs.263 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
576 538 653 655 757 743 672 624 637 702 693 685 701
447 365 417 443 567 526 599 565 498 529 542 526 797
Operating Profit 129 173 237 212 189 218 73 59 139 173 150 159 -96
OPM % 22% 32% 36% 32% 25% 29% 11% 9% 22% 25% 22% 23% -14%
12 4 6 3 5 7 6 -2 -2 10 13 9 232
Interest 17 17 13 15 16 22 23 14 10 9 14 9 6
Depreciation 27 24 25 26 35 25 26 28 29 25 26 15 13
Profit before tax 97 136 205 174 142 178 30 16 99 149 124 144 117
Tax % 33% 28% 29% 30% -0% 25% 41% 35% 36% 26% 27% 25% 29%
65 99 145 122 143 134 18 10 64 110 90 108 83
EPS in Rs 12.06 18.25 26.84 22.54 26.44 24.80 3.30 1.93 11.80 20.39 16.67 19.99 15.32
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,273 1,318 1,345 1,211 1,672 1,766 1,634 1,612 1,844 2,603 2,676 2,780
1,016 1,030 1,104 1,088 1,157 1,332 1,353 1,523 1,506 1,799 2,188 2,394
Operating Profit 257 288 241 123 515 433 281 89 338 804 489 386
OPM % 20% 22% 18% 10% 31% 25% 17% 6% 18% 31% 18% 14%
-2 22 23 -1 49 28 -56 20 51 25 10 263
Interest 70 108 109 84 86 78 96 99 57 62 68 37
Depreciation 82 149 122 114 109 101 98 104 104 110 107 78
Profit before tax 103 53 33 -75 370 282 30 -94 227 657 323 533
Tax % 48% 26% 64% 41% 32% 34% 63% 27% 27% 23% 30% 27%
54 39 12 -45 250 187 11 -69 167 508 226 390
EPS in Rs 10.36 7.52 2.30 -8.60 46.26 34.56 2.04 -12.69 30.88 94.13 41.84 72.37
Dividend Payout % 24% 20% 33% -9% 22% 22% 122% 0% 16% 13% 24% 10%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 15%
TTM: 4%
Compounded Profit Growth
10 Years: 26%
5 Years: 85%
3 Years: 33%
TTM: 65%
Stock Price CAGR
10 Years: 15%
5 Years: 52%
3 Years: 33%
1 Year: 108%
Return on Equity
10 Years: 13%
5 Years: 16%
3 Years: 21%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 26 26 26 26 27 27 27 27 27 54 54 54
Reserves 800 830 837 783 1,016 1,169 1,130 1,042 1,200 1,647 1,805 2,048
974 1,093 1,069 1,014 941 853 796 743 708 518 368 211
359 435 504 469 500 583 685 586 590 585 410 519
Total Liabilities 2,158 2,384 2,437 2,292 2,484 2,632 2,638 2,398 2,525 2,805 2,636 2,832
1,007 1,108 1,108 1,067 1,017 1,001 978 1,020 962 922 969 997
CWIP 235 82 45 60 56 90 118 74 55 70 70 78
Investments 189 179 168 202 327 314 181 141 228 262 377 364
728 1,014 1,116 963 1,084 1,227 1,361 1,162 1,280 1,551 1,221 1,392
Total Assets 2,158 2,384 2,437 2,292 2,484 2,632 2,638 2,398 2,525 2,805 2,636 2,832

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
214 229 184 230 423 290 228 225 207 389 518 384
-196 -258 -9 -125 -248 -86 -26 -51 -103 -105 -222 -75
25 -14 -157 -137 -174 -193 -205 -184 -101 -283 -296 -265
Net Cash Flow 43 -43 17 -32 2 11 -2 -11 2 0 1 45

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 13 16 14 4 15 13 11 7 18 20 12 11
Inventory Days 171 218 208 177 176 192 256 168 174 207 162 177
Days Payable 67 96 86 74 61 88 128 72 74 49 52 59
Cash Conversion Cycle 118 138 137 107 130 117 140 103 118 178 121 129
Working Capital Days 76 133 105 80 97 106 110 92 124 116 103 94
ROCE % 11% 9% 8% 1% 24% 17% 10% 0% 15% 34% 18% 25%

Shareholding Pattern

Numbers in percentages

12 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69%
0.88% 1.09% 1.07% 1.30% 1.32% 1.25% 1.40% 1.67% 2.47% 2.93% 2.88% 2.89%
0.02% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.08% 0.09% 0.10% 0.10% 1.36%
40.41% 40.22% 40.24% 40.00% 39.98% 40.04% 39.89% 39.55% 38.74% 38.29% 38.34% 37.06%
No. of Shareholders 36,72237,09541,05442,90944,30945,59243,84044,43942,94747,70547,63650,850

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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