IMFA reports INR 199.96 CR Net Profit for H1FY2024 vs INR 151.65 CR in H1FY23

New Delhi: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced Q2 FY24 results today for the period ending September 30^th, 2023.

Financial Performance

Standalone for Q2 FY 24

Q2 FY24	Revenue	EBITDA	EBITDA Margin	PAT	PAT Margin	EPS	Exports
Q2 FY24	₹ 692.61 cr	₹ 162.81 cr	23.51%	₹ 89.96 cr	12.99%	₹ 16.67	₹ 653.77 cr

Financial Highlights: (₹ in cr.)

Performance indicators	Q2 FY24	Q1 FY24	Q2 FY23	H1 FY24	H1 FY23
Revenue	692.61	701.73	672.45	1394.34	1415.87
EBITDA	162.81	182.68	79.18	345.49	303.85
PAT	89.96	110.00	17.82	199.96	151.65
Exports	653.77	662.76	631.31	1316.53	1341.84

Operational Highlights:

Performance indicators	Q2 FY24	Q1 FY24	Q2 FY23	H1 FY24	H1 FY23
Ferro Chrome production (Tonnes)	66,796	66,261	61,423	1,33,057	1,25,183
Ferro Chrome sales (Tonnes)	67,448	64,695	64,475	1,32,144	1,24,810
Power generation (Million Units)	296	290	275	586	535
Chrome Ore raising (Tonnes)	1,33,666	2,70,648	78,962	4,04,314	2,36,917

Management Comment:

Commenting on the results, Mr. Subhrakant Panda, Managing Director, said “IMFA’s debt-free Balance Sheet and fully integrated business model has helped deliver strong results this quarter in a challenging environment. A focus on long term marketing tie-ups has also been handy at a time when there is a slight degrowth in stainless steel production. Input costs have moderated in general, although a surge in chrome ore cost for non-integrated producers in India is likely to curtail ferro chrome output in the near term which will work to our benefit. We remain sanguine about future prospects as we focus on our ferro chrome expansion project and enhancement of chrome ore output.”

Unaudited results for the quarter and half year ended September 30, 2023 are available in the Investor Relations section of our website https://www.imfa.in/investor-information/investorinfo.htm#