Indian Metals & Ferro Alloys Ltd

Indian Metals & Ferro Alloys Ltd

₹ 765 -2.06%
25 Jun 11:59 a.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 4,128 Cr.
  • Current Price 765
  • High / Low 880 / 316
  • Stock P/E 11.0
  • Book Value 393
  • Dividend Yield 1.93 %
  • ROCE 24.2 %
  • ROE 18.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 67.4% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 11.2% 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 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
447 365 417 443 568 526 600 565 498 529 542 526 596
Operating Profit 129 173 236 212 189 218 73 59 139 173 150 159 105
OPM % 22% 32% 36% 32% 25% 29% 11% 9% 22% 25% 22% 23% 15%
12 4 5 3 5 7 4 -1 -1 10 12 10 11
Interest 16 16 13 15 16 21 23 13 9 8 13 8 5
Depreciation 27 24 25 26 35 25 26 28 29 25 26 15 13
Profit before tax 98 137 204 175 143 179 29 17 99 149 123 146 98
Tax % 33% 27% 29% 30% -0% 25% 43% 34% 35% 26% 27% 25% 35%
65 99 144 122 143 134 16 11 64 111 89 109 64
EPS in Rs 12.11 18.33 26.59 22.61 26.43 24.85 3.02 2.01 11.87 20.46 16.53 20.14 15.99
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,018 1,031 1,104 1,088 1,159 1,333 1,361 1,523 1,507 1,793 2,188 2,193
Operating Profit 255 287 241 123 513 432 272 89 338 810 488 587
OPM % 20% 22% 18% 10% 31% 24% 17% 6% 18% 31% 18% 21%
-1 17 13 -1 48 27 -62 21 50 17 9 42
Interest 69 105 106 81 83 75 94 97 55 59 66 35
Depreciation 82 149 122 114 109 101 98 104 104 110 107 78
Profit before tax 102 50 26 -73 369 283 19 -91 228 658 324 516
Tax % 48% 30% 84% 40% 33% 34% 103% 27% 27% 23% 30% 28%
53 35 4 -44 249 187 -1 -66 167 508 226 372
EPS in Rs 10.16 6.72 0.71 -8.47 46.10 34.46 -0.19 -12.31 30.84 94.01 41.75 73.12
Dividend Payout % 25% 22% 106% -12% 22% 22% -1,323% 0% 16% 13% 24% 10%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 15%
TTM: 4%
Compounded Profit Growth
10 Years: 27%
5 Years: 67%
3 Years: 33%
TTM: 60%
Stock Price CAGR
10 Years: 15%
5 Years: 52%
3 Years: 41%
1 Year: 149%
Return on Equity
10 Years: 12%
5 Years: 16%
3 Years: 21%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 824 855 855 807 1,037 1,189 1,143 1,057 1,215 1,661 1,819 2,066
1,100 1,088 1,128 1,060 910 822 766 713 679 490 341 184
390 467 539 501 530 614 719 617 620 616 440 527
Total Liabilities 2,340 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,832
1,233 1,341 1,372 1,330 1,275 1,256 1,177 1,216 1,155 1,111 990 1,009
CWIP 342 217 193 226 236 273 304 264 248 267 70 66
Investments 24 12 0 35 161 148 69 33 120 155 264 372
741 866 983 803 832 974 1,104 901 1,019 1,290 1,330 1,385
Total Assets 2,340 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,832

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
212 226 174 218 485 290 217 221 207 390 151 512
-244 -107 -43 -101 -162 -88 -31 -49 -106 -106 140 -209
70 -162 -113 -161 -322 -191 -187 -182 -99 -284 -291 -259
Net Cash Flow 38 -43 18 -44 2 10 -2 -11 2 -0 1 44

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 95 86 74 61 88 128 72 74 49 52 59
Cash Conversion Cycle 118 138 137 107 130 117 140 103 118 178 122 129
Working Capital Days 70 88 61 22 40 52 50 32 72 79 117 142
ROCE % 10% 8% 7% 1% 23% 17% 9% 0% 14% 34% 18%

Shareholding Pattern

Numbers in percentages

22 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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%
0.74% 0.88% 1.09% 1.07% 1.30% 1.32% 1.25% 1.40% 1.67% 2.47% 2.93% 2.88%
0.01% 0.02% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.08% 0.09% 0.10% 0.10%
40.56% 40.41% 40.22% 40.24% 40.00% 39.98% 40.04% 39.89% 39.55% 38.74% 38.29% 38.34%
No. of Shareholders 35,61436,72237,09541,05442,90944,30945,59243,84044,43942,94747,70547,636

* 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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