IMFA Q1 FY27 Revenue Surges 49.7% to ₹960.45 Crore on Record Performance
IMFA reported a record Q1 FY27 with revenue up 49.7% to ₹960.45 crore and PAT at ₹191.49 crore. Greenfield Project KNR 1 furnaces to start in August/September 2026. Ethanol project trial run by October 2026. Company contracted 65 MWp hybrid renewable energy by June 2027.
The strong financial results and progress on key growth projects like the Greenfield expansion, renewable energy integration, and ethanol diversification are expected to have a substantial positive impact on the company's future performance and market position.
The company reported record quarterly performance with significant year-on-year growth in revenue, EBITDA, and PAT, alongside positive progress on major expansion and diversification projects.
Indian Metals & Ferro Alloys Ltd (IMFA) announced a record performance for the first quarter ended June 30th, 2026 (Q1 FY27). The company achieved its best-ever quarterly turnover, with revenue from operations soaring by 49.71% year-on-year to ₹960.45 crore, up from ₹641.54 crore in Q1 FY26. This growth was driven by higher volumes and firm prices.
EBITDA for the quarter increased significantly to ₹281.27 crore from ₹125.47 crore in the same period last year, with EBITDA margins expanding to 29.29% from 19.56%. Profit After Tax (PAT) more than doubled to ₹191.49 crore, compared to ₹91.48 crore in Q1 FY26, with PAT margins improving to 19.69% from 13.81%.
Operational highlights include a record Ferro Chrome production of 80,690 tonnes and sales of 79,268 tonnes. The company's Greenfield Expansion Project at Kalinganagar (KNR 1) is progressing as planned, with the first furnace expected to begin hot metal tapping in the third week of August 2026, and the second furnace likely to be commissioned in September 2026. The KNR 2 project is fully operational with all four furnaces running.
IMFA is also expanding its green energy footprint by signing a long-term offtake arrangement with Enfinity Global for an additional 65 MWp hybrid renewable energy, expected by June 2027, which will increase its non-fossil fuel energy consumption to approximately 40%. The Ethanol project at Therubali is nearing completion, with trial runs expected in October 2026. The company also received approvals for a ₹1,000 crore investment to scale up its mining operations to 1.2 million tonnes per annum.
Commenting on the results, Mr. Subhrakant Panda, Managing Director, stated that the record performance was due to higher ferro chrome output, strategic acquisitions, firm prices, and operational efficiency. He added that with the Greenfield Project expected to be fully commissioned and stabilized by Q3 FY27, IMFA will achieve an operating smelting capacity of over half a million tonnes by the end of the year. The company remains focused on a future-ready, diversified business model, underpinned by a fully integrated, net debt-free model, with significant investments in increasing captive chrome ore raising, doubling ferro chrome smelting capacity, pivoting to hybrid renewable energy, and diversifying into ethanol.
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