NSE: IMFA · BSE: 533047 · ISIN INE919H01018
Indian Metals & Ferro Alloys Limited stock analysis
Indian Metals & Ferro Alloys Limited ranks #697 in the TickerSutra evidence-ranked universe with a score of 61/100 and 95% data confidence. The latest captured fundamentals show ROCE of 18.4%, quarterly sales growth of 49.7% and quarterly profit growth of 108.4%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,603cr | ₹810cr | ₹508cr | 31.0% |
| 2023 | ₹2,676cr | ₹488cr | ₹226cr | 18.0% |
| 2024 | ₹2,780cr | ₹587cr | ₹344cr | 21.0% |
| 2025 | ₹2,565cr | ₹531cr | ₹379cr | 21.0% |
| 2026 | ₹2,826cr | ₹588cr | ₹425cr | 21.0% |
| TTM | ₹3,145cr | ₹743cr | ₹525cr | 24.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
RoutineLoss/Duplicate-Share Certificate-XBRLNSE · 23 Sept 2026 · Structured filingINDIAN METALS & FERRO ALLOYS LIMITED has informed the Exchange about Loss of share certificates
INDIAN METALS & FERRO ALLOYS LIMITED has informed the Exchange about Loss of share certificates
Open original XBRL sourceNegative CatalystActions initiated/taken or orders passed-XBRLNSE · 23 Sept 2026 · Structured filingINDIAN METALS & FERRO ALLOYS LIMITED has informed the Exchange about Action(s) taken or orders passed (sub-para 20)
INDIAN METALS & FERRO ALLOYS LIMITED has informed the Exchange about Action(s) taken or orders passed (sub-para 20)
Open original XBRL sourceIndian Metals & Ferro Alloys Limited has informed the Exchange about Action(s) initiated or orders passed
RoutineIndian Metals & Ferro Alloys Ltd - 533047 - Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015BSE · 23 Sept 2026As corporate announcement attached
RoutineShareholders meetingNSE · 11 Sept 2026Indian Metals & Ferro Alloys Limited has informed the Exchange regarding Proceedings of Postal Ballot
MANAGEMENT COMMENTARY
Signals from filed documents
But suffice it to say that as against average output of about 65,000 tons in a quarter, in Q1, we have touched 80,000 tons. As you know that going ahead, we are also looking to commission the KNR-1 greenfield project, where the first furnace we have already initiated the process of heating the refractory lining, so we expect first tapping around the third week of this month. Wh at we are looking at from the core busi
Given China’s dominant position in global stainless steel production, policy support for industrial activity and infrastructure development is expected to remain a key demand driver for the global ferro chrome industry. 9.20 1.95 0.92 3.85 1.45 0.55 China Middle East Americas South Africa India Europe India continued to improve its standing as a competitive ferro chrome producer, supported by: availability of chrome
Ferro Alloy Production and Sales (tonnes) (in tonnes) FY 2026 FY 2025 % Change Production 267,301 260,190 2.73 Domestic sales 48,769 34,066 43.16 International sales 221,355 225,801 (1.97) Post expansion, total ferro chrome capacity is expected to increase to ~534,000 tonnes per annum, strengthening the Company’s global positioning. Note: Production remained broadly stable with improved realisations in FY26, supporte
Disha Chamriya: So, my question was that you have already answered it halfway. So given the current ferrochrome pricing environment, where does our company believe it sits on the global cost curve? Like have there been any recent operational initiatives that have strengthened your competitive position related to the South African and Kazakh producers?
Ferro Alloy Production and Sales (tonnes) (in tonnes) FY 2026 FY 2025 % Change Production 267,301 260,190 2.73 Domestic sales 48,769 34,066 43.16 International sales 221,355 225,801 (1.97) Post expansion, total ferro chrome capacity is expected to increase to ~534,000 tonnes per annum, strengthening the Company’s global positioning. Note: Production remained broadly stable with improved realisations in FY26, supporte
Structural challenges in key producing regions are creating opportunities for cost-competitive and integrated producers like IMFA to strengthen their global positioning. IMFA remains focused on: Capacity expansion through greenfield and acquisition-led growth Strengthening domestic presence alongside export markets Pivoting to hybrid renewable energy Robust financial metrics and digital transformation With the commis
Your Company continues to maintain a strong financial position with a net long term debt-free balance sheet and robust cash reserves, enabling it to fund ongoing expansion and diversification initiatives. The Company’s medium-term growth is expected to be driven by the following key factors: Capacity expansion through Kalinganagar projects (KNR 1 and KNR 2), significantly enhancing production scale Strong backward in
The Government continues to strengthen the biofuel ecosystem through measures supporting grain-based ethanol production, feedstock diversification, and higher blending adoption. During FY 2025–26, regulatory momentum continued toward expanded ethanol usage, including policy proposals for higher ethanol fuel blends such as E85 and E100 for compatible vehicles. In parallel, nationwide implementation of E20-compliant fu
And that is going to impact everybody, including the South African producers themselves because they have made it repeatedly clear that $0.62 is not something which is very, very attractive, but something that they need to get to stay in the game. Having said that, we are confident about our competitiveness and our resilience. And we believe that with different sectors also starting to ask for special tariffs like ma
Annual Report 2025-26 198 199 Indian Metals & Ferro Alloys Limited Financial StatementsCompany Overview Statutory Reports Notes to Standalone Financial Statements for the year ended 31 March 2026 Notes to Standalone Financial Statements for the year ended 31 March 2026 (iii) The Company had filed a petition before the Hon’ble Orissa High Court under Section 392 of the Companies Act, 1956 to modify the Scheme of Arran
Rising Domestic Industrial Demand in India India’s infrastructure, manufacturing, transport, and urban development sectors are expected to continue supporting long-term demand growth across the metals and materials ecosystem. Shift Toward Value-Added and Specialised Products Demand is expected to increasingly move toward higher-grade, application-specific, and premium products across stainless steel and allied materi
Accordingly, the useful lives of tangible assets of the Company which are different from the useful lives as specified by Schedule II are given below: Annual Report 2025-26 152 153 Indian Metals & Ferro Alloys Limited Financial StatementsCompany Overview Statutory Reports Notes to Standalone Financial Statements for the year ended 31 March 2026 Notes to Standalone Financial Statements for the year ended 31 March 2026
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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