Indian Metals & Ferro Alloys Ltd

Indian Metals & Ferro Alloys Ltd

₹ 640 1.75%
28 Mar - 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 3,451 Cr.
  • Current Price 640
  • High / Low 688 / 270
  • Stock P/E 9.17
  • Book Value 379
  • Dividend Yield 1.56 %
  • ROCE 17.8 %
  • ROE 13.0 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 17.8%

Cons

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
425 576 538 653 655 757 743 672 624 637 702 693 685
357 447 365 417 443 568 526 600 565 498 529 542 526
Operating Profit 68 129 173 236 212 189 218 73 59 139 173 150 159
OPM % 16% 22% 32% 36% 32% 25% 29% 11% 9% 22% 25% 22% 23%
5 12 4 5 3 5 7 4 -1 -1 10 12 10
Interest 12 16 16 13 15 16 21 23 13 9 8 13 8
Depreciation 26 27 24 25 26 35 25 26 28 29 25 26 15
Profit before tax 35 98 137 204 175 143 179 29 17 99 149 123 146
Tax % 7% 33% 27% 29% 30% -0% 25% 43% 34% 35% 26% 27% 25%
33 65 99 144 122 143 134 16 11 64 111 89 109
EPS in Rs 6.00 12.11 18.33 26.59 22.61 26.43 24.85 3.02 2.01 11.87 20.46 16.53 20.14
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,193 1,273 1,318 1,345 1,211 1,672 1,766 1,634 1,612 1,844 2,603 2,676 2,717
966 1,018 1,031 1,104 1,088 1,159 1,333 1,361 1,523 1,507 1,793 2,188 2,096
Operating Profit 227 255 287 241 123 513 432 272 89 338 810 488 621
OPM % 19% 20% 22% 18% 10% 31% 24% 17% 6% 18% 31% 18% 23%
6 -1 17 13 -1 48 27 -62 21 50 17 9 30
Interest 83 69 105 106 81 83 75 94 97 55 59 66 39
Depreciation 56 82 149 122 114 109 101 98 104 104 110 107 94
Profit before tax 94 102 50 26 -73 369 283 19 -91 228 658 324 518
Tax % 34% 48% 30% 84% 40% 33% 34% 103% 27% 27% 23% 30%
62 53 35 4 -44 249 187 -1 -66 167 508 226 373
EPS in Rs 11.85 10.16 6.72 0.71 -8.47 46.10 34.46 -0.19 -12.31 30.84 94.01 41.75 69.00
Dividend Payout % 21% 25% 22% 106% -12% 22% 22% -1,323% 0% 16% 13% 24%
Compounded Sales Growth
10 Years: 8%
5 Years: 9%
3 Years: 18%
TTM: -3%
Compounded Profit Growth
10 Years: 15%
5 Years: 5%
3 Years: 74%
TTM: 24%
Stock Price CAGR
10 Years: 17%
5 Years: 38%
3 Years: 41%
1 Year: 131%
Return on Equity
10 Years: 11%
5 Years: 12%
3 Years: 20%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 26 26 26 26 26 27 27 27 27 27 54 54 54
Reserves 761 824 855 855 807 1,037 1,189 1,143 1,057 1,215 1,661 1,819 1,992
970 1,100 1,088 1,128 1,060 910 822 766 713 679 490 341 373
504 390 467 539 501 530 614 719 617 620 616 440 375
Total Liabilities 2,261 2,340 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,795
722 1,233 1,341 1,372 1,330 1,275 1,256 1,177 1,216 1,155 1,111 990 971
CWIP 679 342 217 193 226 236 273 304 264 248 267 70 83
Investments 2 24 12 0 35 161 148 69 33 120 155 264 315
858 741 866 983 803 832 974 1,104 901 1,019 1,290 1,330 1,425
Total Assets 2,261 2,340 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821 2,654 2,795

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
110 212 226 174 218 485 290 217 221 207 390 151
-436 -244 -107 -43 -101 -162 -88 -31 -49 -106 -106 140
319 70 -162 -113 -161 -322 -191 -187 -182 -99 -284 -291
Net Cash Flow -7 38 -43 18 -44 2 10 -2 -11 2 -0 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 11 13 16 14 4 15 13 11 7 18 20 12
Inventory Days 215 171 218 208 177 176 192 256 168 174 207 162
Days Payable 103 67 95 86 74 61 88 128 72 74 49 52
Cash Conversion Cycle 123 118 138 137 107 130 117 140 103 118 178 122
Working Capital Days 68 70 88 61 22 40 52 50 32 72 79 117
ROCE % 11% 10% 8% 7% 1% 23% 17% 9% 0% 14% 34% 18%

Shareholding Pattern

Numbers in percentages

19 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69%
0.36% 0.74% 0.88% 1.09% 1.07% 1.30% 1.32% 1.25% 1.40% 1.67% 2.47% 2.93%
0.46% 0.01% 0.02% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.08% 0.09% 0.10%
40.50% 40.56% 40.41% 40.22% 40.24% 40.00% 39.98% 40.04% 39.89% 39.55% 38.74% 38.29%
No. of Shareholders 32,80735,61436,72237,09541,05442,90944,30945,59243,84044,43942,94747,705

* 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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