Indian Metals & Ferro Alloys Ltd

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Indian Metals & Ferro Alloys Ltd

₹ 724 -2.29%
10 Jun 4:01 p.m.
imfa.in BSE: 533047 NSE: IMFA
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]

Website BSE NSE
  • Market Cap ₹ 3,909 Cr.
  • Current Price ₹ 724
  • High / Low ₹ 999 / 550
  • Stock P/E 10.3
  • Book Value ₹ 435
  • Dividend Yield 2.77 %
  • ROCE 21.4 %
  • ROE 17.0 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 20.9%

Cons

  • The company has delivered a poor sales growth of 9.73% over past five years.
  • Working capital days have increased from 144 days to 223 days

* 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.

Peer comparison

Commodities Metals & Mining Ferrous Metals Ferro & Silica Manganese

Part of BSE SmallCap BSE Allcap BSE Commodities Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
757 743 672 624 637 702 693 685 701 662 692 643 567
568 526 600 565 498 529 542 526 596 501 521 515 497
Operating Profit 189 218 73 59 139 173 150 159 105 161 170 128 71
OPM % 25% 29% 11% 9% 22% 25% 22% 23% 15% 24% 25% 20% 12%
5 7 4 -1 -1 10 12 10 11 13 19 17 17
Interest 16 21 23 13 9 8 13 8 5 4 6 8 10
Depreciation 35 25 26 28 29 25 26 15 13 14 13 14 14
Profit before tax 143 179 29 17 99 149 123 146 98 157 170 123 64
Tax % -0% 25% 43% 34% 35% 26% 27% 25% 64% 28% 26% 24% 26%
143 134 16 11 64 111 89 109 36 113 125 93 47
EPS in Rs 26.43 24.85 3.02 2.01 11.87 20.46 16.53 20.14 6.54 20.95 23.17 17.30 8.77
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1,318 1,345 1,211 1,672 1,766 1,634 1,612 1,844 2,603 2,676 2,780 2,565
1,031 1,104 1,088 1,159 1,333 1,361 1,523 1,507 1,793 2,188 2,193 2,034
Operating Profit 287 241 123 513 432 272 89 338 810 488 587 530
OPM % 22% 18% 10% 31% 24% 17% 6% 18% 31% 18% 21% 21%
17 13 -1 48 27 -62 21 50 17 9 42 66
Interest 105 106 81 83 75 94 97 55 59 66 35 28
Depreciation 149 122 114 109 101 98 104 104 110 107 78 55
Profit before tax 50 26 -73 369 283 19 -91 228 658 324 516 514
Tax % 30% 84% -40% 33% 34% 103% -27% 27% 23% 30% 28% 26%
35 4 -44 249 187 -1 -66 167 508 226 372 379
EPS in Rs 6.72 0.71 -8.47 46.10 34.46 -0.19 -12.31 30.84 94.01 41.75 73.12 70.19
Dividend Payout % 22% 106% -12% 22% 22% -1,323% 0% 16% 13% 24% 10% 28%
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 0%
TTM: -8%
Compounded Profit Growth
10 Years: 63%
5 Years: 49%
3 Years: -9%
TTM: 4%
Stock Price CAGR
10 Years: 25%
5 Years: 57%
3 Years: 40%
1 Year: -3%
Return on Equity
10 Years: 14%
5 Years: 19%
3 Years: 16%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 26 26 26 27 27 27 27 27 54 54 54 54
Reserves 855 855 807 1,037 1,189 1,143 1,057 1,215 1,661 1,819 2,066 2,294
1,088 1,128 1,060 910 822 766 713 679 490 341 184 389
467 539 501 530 614 719 617 620 616 440 527 441
Total Liabilities 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,832 3,177
1,341 1,372 1,330 1,275 1,256 1,177 1,216 1,155 1,111 990 997 1,051
CWIP 217 193 226 236 273 304 264 248 267 70 78 74
Investments 12 0 35 161 148 69 33 120 155 264 372 909
866 983 803 832 974 1,104 901 1,019 1,290 1,330 1,385 1,144
Total Assets 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,832 3,177

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
226 174 218 485 290 217 221 207 390 151 512 585
-107 -43 -101 -162 -88 -31 -49 -106 -106 140 -209 -562
-162 -113 -161 -322 -191 -187 -182 -99 -284 -291 -259 -68
Net Cash Flow -43 18 -44 2 10 -2 -11 2 -0 1 44 -44

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 16 14 4 15 13 11 7 18 20 12 11 16
Inventory Days 218 208 177 176 192 256 168 174 207 162 177 264
Days Payable 95 86 74 61 88 128 72 74 49 52 59 70
Cash Conversion Cycle 138 137 107 130 117 140 103 118 178 122 129 210
Working Capital Days 88 61 22 40 52 50 32 72 79 117 93 223
ROCE % 8% 7% 1% 23% 17% 9% 0% 14% 34% 18% 24% 21%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69%
1.30% 1.32% 1.25% 1.40% 1.67% 2.47% 2.93% 2.88% 2.89% 3.10% 4.04% 3.81%
0.01% 0.01% 0.01% 0.01% 0.08% 0.09% 0.10% 0.10% 1.36% 0.92% 0.82% 0.81%
40.00% 39.98% 40.04% 39.89% 39.55% 38.74% 38.29% 38.34% 37.06% 37.30% 36.45% 36.69%
No. of Shareholders 42,90944,30945,59243,84044,43942,94747,70547,63650,85051,52547,71549,688

* 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.

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