IMFA Q1 FY27 Revenue Surges 49.7% to ₹960.45 Crore, PAT Doubles to ₹191.49 Crore
IMFA reported a record Q1 FY27 with revenue up 49.7% to ₹960.45 crore and PAT up 109.3% to ₹191.49 crore. The KNR 1 project's first furnace is expected in August 2026 and the second in September 2026. An additional 65 MWp hybrid energy arrangement is expected by June 2027. The ethanol project trial run is anticipated in October 2026.
The announcement details record financial results, significant capacity expansion (KNR 1 project), diversification into ethanol, and a substantial increase in renewable energy sourcing. These are material developments that are expected to significantly impact the company's future performance and business profile.
The company reported record financial performance with significant year-on-year growth in revenue, EBITDA, and PAT. Expansion projects are on track and diversification efforts are nearing completion, indicating positive future prospects.
Indian Metals & Ferro Alloys Ltd (IMFA) announced record financial results for the quarter ended June 30th, 2026 (Q1 FY27), driven by higher volumes and firm prices.
Revenue from operations increased by 49.71% year-on-year to ₹960.45 crore, compared to ₹641.54 crore in Q1 FY26. EBITDA saw a significant jump of 124.17% to ₹281.27 crore from ₹125.47 crore in the same period last year. Profit After Tax (PAT) more than doubled to ₹191.49 crore, an increase of 109.32% from ₹91.48 crore in Q1 FY26. The company's EBITDA margin improved to 29.29% from 19.56% in Q1 FY26, attributed to better price realization and cost efficiencies.
The company's Greenfield Expansion Project at Kalinganagar (KNR 1) is progressing as planned, with the first furnace expected to start operations in the third week of August 2026 and the second furnace in September 2026. The KNR 2 facility is now fully operational with all four furnaces running, contributing to a record ferro chrome production of over 80,000 tonnes in the quarter.
IMFA has also signed 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 and commissioning in November 2026.
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 stabilizing by Q3 FY27, the company's operating smelting capacity would exceed half a million tonnes. IMFA is focused on a future-ready, diversified business model with 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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