Indian Metals & Ferro Alloys Reports Record Performance in Q1 FY27; Highlights Expansion and Diversification Efforts

Indian Metals & Ferro Alloys Reports Record Performance in Q1 FY27; Highlights Expansion and Diversification Efforts​

Indian Metals & Ferro Alloys Limited (IMFA), a leading ferro chrome producer, announced robust financial results for the quarter ending June 30, 2026. The company reported record revenue growth driven by higher production volumes and stable pricing, signaling strong resilience and a positive trajectory amidst its ongoing expansion initiatives.

The operational performance in Q1 FY27 saw significant increases across key metrics, reflecting the combined effect of increased capacity utilization and strategic expansions at various units.

Key Financial Highlights​

IMFA witnessed substantial growth in profitability during the quarter. Revenue from operations rose significantly year-on-year.


The company's focus on cost efficiency and market positioning contributed to the growth, with EBITDA margin increasing primarily due to higher price realization and operational effectiveness.

Operational Status and Projects​

A key factor contributing to the quarter's success was the high utilization at the KNR-2 complex. All four furnaces at KNR 2 are currently operational, resulting in a total production of 80,690 tonnes of ferro chrome for the quarter. During this period, approximately 14,000 tonnes of material were dispatched from the plant.

The Greenfield Expansion Project (KNR-1) is progressing well and has received both Consent to Operate (CTO) and a Factory License. The first furnace at KNR-1 is expected to begin hot metal tapping in the third week of August 2026, while the second furnace is likely to be commissioned in September 2026.

In terms of diversification and sustainability, IMFA has advanced several strategic projects:

• Renewable Energy: The company secured a long-term offtake arrangement with Enfinity Global for an additional 65 MWp hybrid renewable energy capacity. This project is anticipated to be available by June 2027, which will help account for approximately 40% of IMFA's total energy consumption from non-fossil sources by mid-next year.
• Ethanol Project: The ethanol facility at Therubali is nearing completion. While the project faced delays due to geopolitical uncertainty and monsoon disruptions, the trial run for the unit is now expected in October 2026.

Management Outlook​

Mr Subhrakant Panda, Managing Director of IMFA, commented on the earnings, attributing the record performance to higher ferro chrome output coupled with firm prices and a continuous focus on operational efficiency.

He stated that the company is focused on creating a future-ready and diversified business model. Significant investments are underway to increase captive chrome ore raising, double ferro chrome smelting capacity, and pivot towards hybrid renewable energy alongside diversification into ethanol. Panda expressed confidence in the market fundamentals and the resilience of IMFA's fully integrated, net debt-free business structure for delivering superior performance going forward.

IMFA Stock Price Movement​

Shares of Indian Metals & Ferro Alloys Limited are rallying in live trading as of 2:02 PM, with the stock currently at ₹1524.5, having edged up 2.18% during the ongoing session. The surge is backed by robust activity, as over 760,284 shares have been traded thus far into the market day.