New Delhi: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of Ferro chrome, announced Q1 FY22 results today for the period ending June 30th, 2021.

Highlights of Q1 FY22 vs Q1 FY21

·        Revenues of Rs 537.86 crores vs Rs 405.08 crores

·        Exports of Rs 498.18 crores vs Rs 391.01 crores

·        EBIDTA of Rs 177.01 crores vs Rs 80.07 crores

·        Profit of Rs 98.57 crores vs Rs 24.30 crores

Highlights of Q1 FY22 vs Q4 FY21

·        Revenues of Rs 537.86 crores vs Rs 576.11 crores

·        Exports of Rs 498.18 crores vs Rs 528.73 crores

·        EBIDTA of Rs 177.01 crores vs Rs 140.50 crores

·        Profit of Rs 98.57 crores vs Rs 65.11 crores

Operational Highlights of Q1 FY22 vs Q1 FY21

·        FeCr production of 58,640 tonnes vs 60,342 tonnes

·        FeCr sales of 59,506 tonnes vs 59,743 tonnes

·        Power generation of 260 mu vs 202 mu

Financial Highlights

·        Long Term Debt of Rs 362.90 crore

·        Debt:Equity Ratio of 0.27

Change in Leadership

After 28 years on the Board, Maj R N Misra (Retd) is stepping down upon completing a second term as Independent Director under new guidelines, and N R Mohanty has been appointed as Non-Executive Chairman for a period of 3 years. Further, after a successful career spanning more than four decades, Jayant Misra shall transition to an advisory role when his term ends on October 27th, 2021. Prem Khandelwal will be appointed Chief of GCS while continuing to discharge his role as CFO & Company Secretary; Bijayananda Mohapatra is being elevated as COO Designate consequent to which Binoy Agarwalla will take over as Head of the Power Business Unit.

Management Comments

Commenting on the results Subhrakant Panda, Managing Director said: “The Q1 FY22 performance has been exceptional, driven by steady operations and upswing in prices globally. Our strategy of entering into long term contracts which are repriced every quarter assures offtake and leads to more stability, even as the benefit of price movement is reflected with a slight lag; however, some tonnage is set aside for spot sales and monthly contracts so as to capture upside in prices. Supply side dynamics are expected to dominate going ahead, and we are uniquely positioned to benefit given our fully integrated business model.”