IMFA Q3 FY16 Revenue up 13%, Production up 7% y-o-y

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By Our Business Affairs Bureau

BHUBANESWAR /MUMBAI: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of value added ferro chrome, has announced Q3 & 9M FY16 results for the period ended December 31st, 2015.

Highlights of Q3 FY16 vs Q3 FY15 : Revenue of Rs 329 crores vs Rs 292 crores. Exports of Rs 266 crores vs Rs 227 crores.  Profit after Tax of Rs 1.1 crores vs Loss of Rs 3.7 crores.

Highlights of 9M FY16 vs 9M FY15: Revenue of Rs 1007 crores vs Rs 942 crores. Exports of Rs 883 crores vs Rs 734 crores. Rs 157 crores. EBIDTA (before exceptional items) vs Rs 178 crores.

Operational Highlights for Q3 FY16: Ferro Chrome production of 52,217 tonne was higher by 7% as compared to corresponding quarter. Power generation of 236 million units was higher by 4% as compared to corresponding quarter.

Commenting on the results Subhrakant Panda, MD and CEO said: “The commodity space is markedly weak and ferro chrome is no exception with prices at levels last seen during the 2008 economic meltdown. The demand-supply imbalance will continue for at least a couple of quarters but radical production cutbacks are likely as current prices are not sustainable. These are testing times but we remain sanguine given our low debt levels and fully integrated business model.

Indian Metals & Ferro Alloys Ltd (IMFA) is India’s leading fully integrated producer of value added ferro chrome with installed capacity of 275,000 tonnes per annum. Incorporated in 1961 and headquartered in Bhubaneswar, Odisha, the Company has manufacturing complexes in Therubali and Choudwar backed up by captive power generation of 258 MW and own chrome ore mines in Sukinda, Mahagiri and Nuasahi. IMFA has an Integrated Management System with quality, environment and occupational health and safety certification.

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