Indian Metals & Ferro Alloys Ltd

₹ 280 1.95%
12 Aug - 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 Segments
Ferro Chrome (100%): Co. primary exports its Ferro Alloys and ~88% of IMFA’s production is exported to the eastern countries mainly Japan & South Korea
Geographical Split (FY21)
International - 94%
India - 6% [1]

  • Market Cap 1,509 Cr.
  • Current Price 280
  • High / Low 514 / 230
  • Stock P/E 2.78
  • Book Value 318
  • Dividend Yield 3.57 %
  • ROCE 34.3 %
  • ROE 33.8 %
  • Face Value 10.0
Baj Singh
Baj Singh
Baj Singh migrated to America and gathered large number of immigrants to join the freedom movement. He was an active member of The Ghadar Movement and faced rigorous imprisonment upon his return to India.
Unsung Heroes →
Swami Brahmanand
Swami Brahmanand
He was jailed multiple times for participating in the Salt Satyagrah, Non-Cooperation Movement, and Quit India Movement. He was a social reformer and established teaching institutes such as Brahmanand Inter College (1938), Brahmanand Sanskrit Mahavidyalaya (1943) and Brahamanand Mahavidyalaya (1960).
Unsung Heroes →

Pros

  • Company has reduced debt.
  • Stock is trading at 0.88 times its book value
  • Stock is providing a good dividend yield of 3.57%.
  • Company is expected to give good quarter

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

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
446 389 398 379 405 438 425 576 538 653 655 757 743
390 394 362 382 342 360 357 447 365 417 443 568 526
Operating Profit 56 -5 36 -2 63 77 68 129 173 236 212 189 218
OPM % 13% -1% 9% -1% 16% 18% 16% 22% 32% 36% 32% 25% 29%
7 6 8 2 17 16 5 12 4 5 3 5 7
Interest 18 27 17 34 16 10 12 16 16 13 15 16 21
Depreciation 24 25 26 29 25 26 26 27 24 25 26 35 25
Profit before tax 20 -51 1 -64 38 57 35 98 137 204 175 143 179
Tax % 37% 34% -332% 19% 35% 23% 7% 33% 27% 29% 30% -0% 25%
Net Profit 13 -34 5 -52 25 44 32 65 99 144 122 143 134
EPS in Rs 2.33 -6.25 0.84 -9.62 4.57 8.08 6.00 12.11 18.33 26.59 22.61 26.43 24.85

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,068 1,193 1,273 1,318 1,345 1,211 1,672 1,766 1,634 1,612 1,844 2,603 2,809
731 966 1,018 1,031 1,104 1,088 1,159 1,333 1,361 1,523 1,507 1,793 1,954
Operating Profit 337 227 255 287 241 123 513 432 272 89 338 810 855
OPM % 32% 19% 20% 22% 18% 10% 31% 24% 17% 6% 18% 31% 30%
9 6 -1 17 13 -1 48 27 -62 21 50 17 19
Interest 54 83 69 105 106 81 83 75 94 97 55 59 64
Depreciation 42 56 82 149 122 114 109 101 98 104 104 110 111
Profit before tax 250 94 102 50 26 -73 369 283 19 -91 228 658 700
Tax % 35% 34% 48% 30% 84% 40% 33% 34% 103% 27% 27% 23%
Net Profit 162 62 53 35 4 -44 249 186 -1 -66 167 507 542
EPS in Rs 30.79 11.85 10.16 6.72 0.71 -8.47 46.10 34.46 -0.19 -12.31 30.84 94.01 100.48
Dividend Payout % 16% 21% 25% 22% 106% -12% 22% 22% -1,323% 0% 16% 13%
Compounded Sales Growth
10 Years: 8%
5 Years: 9%
3 Years: 17%
TTM: 42%
Compounded Profit Growth
10 Years: 23%
5 Years: 15%
3 Years: 157%
TTM: 126%
Stock Price CAGR
10 Years: 7%
5 Years: 3%
3 Years: 54%
1 Year: -28%
Return on Equity
10 Years: 10%
5 Years: 12%
3 Years: 16%
Last Year: 34%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
26 26 26 26 26 26 27 27 27 27 27 54
Reserves 712 761 824 855 855 807 1,037 1,189 1,143 1,057 1,215 1,661
565 970 1,100 1,088 1,128 1,060 910 822 766 713 679 490
500 504 390 467 539 501 530 614 719 617 620 616
Total Liabilities 1,803 2,261 2,340 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821
554 722 1,233 1,341 1,372 1,330 1,275 1,256 1,177 1,216 1,155 1,111
CWIP 415 679 342 217 193 226 236 273 304 264 248 267
Investments 6 2 24 12 0 35 161 148 69 33 120 155
828 858 741 866 983 803 832 974 1,104 901 1,019 1,290
Total Assets 1,803 2,261 2,340 2,436 2,548 2,394 2,504 2,652 2,655 2,414 2,541 2,821

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
152 110 212 226 174 218 485 290 217 221 207 390
-325 -436 -244 -107 -43 -101 -162 -88 -31 -49 -106 -106
169 319 70 -162 -113 -161 -322 -191 -187 -182 -99 -284
Net Cash Flow -4 -7 38 -43 18 -44 2 10 -2 -11 2 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 4 11 13 16 14 4 15 13 11 7 18 20
Inventory Days 295 215 171 218 208 177 176 192 256 168 174 207
Days Payable 69 103 67 95 86 74 61 88 128 72 74 49
Cash Conversion Cycle 231 123 118 138 137 107 130 117 140 103 118 178
Working Capital Days 86 68 70 88 61 22 40 52 50 32 72 79
ROCE % 26% 12% 10% 8% 7% 1% 23% 17% 9% 0% 15% 34%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69
0.73 0.71 0.58 0.65 0.61 0.67 0.36 0.74 0.88 1.09 1.07 1.30
0.12 0.11 0.15 0.16 0.35 0.45 0.46 0.01 0.02 0.00 0.01 0.01
40.46 40.49 40.58 40.51 40.35 40.19 40.50 40.56 40.41 40.22 40.24 40.00

Documents

Concalls

Baj Singh
Baj Singh
Baj Singh migrated to America and gathered large number of immigrants to join the freedom movement. He was an active member of The Ghadar Movement and faced rigorous imprisonment upon his return to India.
Unsung Heroes →
Swami Brahmanand
Swami Brahmanand
He was jailed multiple times for participating in the Salt Satyagrah, Non-Cooperation Movement, and Quit India Movement. He was a social reformer and established teaching institutes such as Brahmanand Inter College (1938), Brahmanand Sanskrit Mahavidyalaya (1943) and Brahamanand Mahavidyalaya (1960).
Unsung Heroes →