Indian Metals & Ferro Alloys Ltd

Indian Metals & Ferro Alloys Ltd

₹ 1,399 1.50%
12 Jun - close price
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 7,548 Cr.
  • Current Price 1,399
  • High / Low 1,680 / 681
  • Stock P/E 17.8
  • Book Value 504
  • Dividend Yield 0.89 %
  • ROCE 18.3 %
  • ROE 16.8 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 21.7% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 8.91% over past five years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
637 702 693 685 701 662 692 643 567 642 719 703 763
498 529 542 526 596 501 521 515 497 516 580 539 604
Operating Profit 139 173 150 159 105 161 170 128 71 125 138 164 159
OPM % 22% 25% 22% 23% 15% 24% 25% 20% 12% 20% 19% 23% 21%
-1 10 12 10 11 13 19 17 17 22 16 22 6
Interest 9 8 13 8 5 4 6 8 10 7 8 9 11
Depreciation 29 25 26 15 13 14 13 14 14 15 15 15 18
Profit before tax 99 149 123 146 98 157 170 123 64 126 131 161 136
Tax % 35% 26% 27% 25% 64% 28% 26% 24% 26% 26% 25% 19% 24%
64 111 89 109 36 113 125 93 47 93 98 131 103
EPS in Rs 11.87 20.46 16.53 20.14 6.54 20.95 23.17 17.30 8.77 17.11 18.07 24.33 19.13
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,345 1,211 1,672 1,766 1,634 1,612 1,844 2,603 2,676 2,780 2,565 2,826
1,104 1,088 1,159 1,333 1,361 1,523 1,507 1,793 2,188 2,193 2,034 2,239
Operating Profit 241 123 513 432 272 89 338 810 488 587 531 587
OPM % 18% 10% 31% 24% 17% 6% 18% 31% 18% 21% 21% 21%
13 -1 48 27 -62 21 50 17 9 42 66 65
Interest 106 81 83 75 94 97 55 59 66 35 28 36
Depreciation 122 114 109 101 98 104 104 110 107 78 55 63
Profit before tax 26 -73 369 283 19 -91 228 658 324 516 514 554
Tax % 84% -40% 33% 34% 103% -27% 27% 23% 30% 33% 26% 23%
4 -44 249 187 -1 -66 167 508 226 344 379 425
EPS in Rs 0.71 -8.47 46.10 34.46 -0.19 -12.31 30.84 94.01 41.75 63.68 70.19 78.64
Dividend Payout % 106% -12% 22% 22% -1,323% 0% 16% 13% 24% 12% 28% 10%
Compounded Sales Growth
10 Years: 9%
5 Years: 9%
3 Years: 2%
TTM: 10%
Compounded Profit Growth
10 Years: 32%
5 Years: 22%
3 Years: 22%
TTM: 12%
Stock Price CAGR
10 Years: 35%
5 Years: 40%
3 Years: 70%
1 Year: 96%
Return on Equity
10 Years: 15%
5 Years: 19%
3 Years: 17%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 26 26 27 27 27 27 27 54 54 54 54 54
Reserves 855 807 1,037 1,189 1,143 1,057 1,215 1,661 1,819 2,051 2,294 2,664
1,128 1,060 910 822 766 713 679 490 341 237 389 958
539 501 530 614 719 617 620 616 440 571 441 641
Total Liabilities 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,913 3,177 4,317
1,372 1,330 1,275 1,256 1,177 1,216 1,155 1,111 990 997 1,050 1,574
CWIP 193 226 236 273 304 264 248 267 70 78 75 792
Investments 0 35 161 148 69 33 120 155 264 372 909 383
983 803 832 974 1,104 901 1,019 1,290 1,330 1,466 1,144 1,568
Total Assets 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,913 3,177 4,317

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
174 218 485 290 217 221 207 390 151 460 585 318
-43 -101 -162 -88 -31 -49 -106 -106 140 -209 -562 -753
-113 -161 -322 -191 -187 -182 -99 -284 -291 -207 -68 462
Net Cash Flow 18 -44 2 10 -2 -11 2 -0 1 44 -44 27
Free Cash Flow 102 131 443 173 113 127 182 303 387 347 471 -1,016
CFO/OP 75% 187% 101% 85% 96% 247% 69% 75% 45% 107% 135% 77%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 14 4 15 13 11 7 18 20 12 18 16 31
Inventory Days 208 177 176 192 256 168 174 207 162 224 264 283
Days Payable 86 74 61 88 128 72 74 49 52 88 70 96
Cash Conversion Cycle 137 107 130 117 140 103 118 178 122 153 210 218
Working Capital Days 3 -39 1 12 -8 -29 -2 13 74 71 41 61
ROCE % 7% 1% 23% 17% 9% 0% 14% 34% 18% 24% 21% 18%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Jun 2026 (P)
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MU ・Standalone data

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Chrome Ore Raising Volume
MT ・Standalone data
Ferro Chrome Production Volume
MT ・Standalone data
Ferro Chrome Sales Volume
MT ・Standalone data
Installed Ferro Chrome Capacity
MTPA ・Standalone data
Number of Furnaces
Units ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69%
1.67% 2.47% 2.93% 2.88% 2.89% 3.10% 4.04% 3.81% 3.40% 3.69% 3.35% 3.87%
0.08% 0.09% 0.10% 0.10% 1.36% 0.92% 0.82% 0.81% 0.19% 0.21% 0.64% 0.82%
39.55% 38.74% 38.29% 38.34% 37.06% 37.30% 36.45% 36.69% 37.73% 37.41% 37.33% 36.63%
No. of Shareholders 44,43942,94747,70547,63650,85051,52547,71549,68850,15246,65255,72552,983

* 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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