IMFA announces robust Q2 FY27 results, Higher volumes reflect increase in capacity

Mumbai, Nov 04: Indian Metals & Ferro Alloys Ltd, India’s largest producer of value-added ferro chrome, reported revenue of 968.17 crore, EBITDA of ?235.04 crore and profit after tax of 148.77 crore for the quarter ended 30 September 2026. Performance during the quarter was supported by higher volumes on account of increased capacity, alongside continued progress on energy diversification and operational efficiency.

Exports, a key contributor to IMFA’s business, stood at ?817.54 crore in Q2 FY27 as compared with ?603.96 crore in Q2 FY26. For H1 FY27, exports stood at ?1611.15 crore as compared with ?1160.22 crore in H1 FY26.

IMFA’s Greenfield Project at Kalinganagar was formally inaugurated by the Hon’ble Chief Minister of Odisha Shri Mohan Charan Majhi on 14 October 2026. While the first furnace is operational, commissioning activity relating to the second furnace has commenced and hot metal tapping is expected soon. With this, the company’s total installed capacity will increase to 534,000 tonnes per annum reinforcing its position as India’s largest producer of ferro chrome and amongst the foremost globally.

Financial Performance (Rs in Crore)

Performance indicators	Q2 FY27	Q1 FY27	Q2 FY26	H1FY27	H1FY26	FY26
Revenue	968.17	960.45	718.65	1928.62	1360.19	2826.31
EBITDA	235.04	281.27	138.34	516.31	263.81	587.23
PAT	148.77	191.49	98.77	340.26	190.25	424.36

Operational Highlights

Performance indicators	Q2 FY27	Q1 FY27	Q2 FY26	H1FY27	H1FY26	FY26
Ferro Chrome production (Tonnes)	86,652	80,690	65,671	167,342	131,600	267,301
Ferro Chrome sales (Tonnes)	81,998	79,268	69,765	161,265	136,345	270,124
Power generation (Million Units)	301	289	309	589	588	1138
Chrome Ore raising (Tonnes)	144,697	272,555	169,615	417,253	273,395	810,612

Commenting on earnings Mr Subhrakant Panda, Managing Director said,

“While keeping our focus on a fully integrated business model that remains resilient and competitive across market cycles, a substantial expansion in smelting capacity after the commissioning of the Kalinganagar Greenfield Project will cater to rising demand. We also remain confident about supportive ferro chrome prices given cost pressures faced by non-integrated producers. Alongside capacity growth and a shift to hybrid renewable energy, production of niche grades and a proposed diversification into Low Carbon Ferro Chrome will broaden the product range and bolster margins. Our aim remains to grow responsibly, supported by our distinctive strengths.”