IMFA Q3 FY26 Revenue at ₹702.83 Cr, PAT ₹130.67 Cr; Acquisition on Track
IMFA reported Q3 FY26 standalone revenue of ₹702.83 crore and PAT of ₹130.67 crore. The company is on track with its greenfield expansion and strategic acquisition of Tata Steel's ferro chrome plant for ₹610 crore, expected to complete in Q4 FY26. The first furnace of the expansion is slated for June 2026.
The acquisition of a significant ferro chrome plant and the greenfield expansion will substantially increase the company's production capacity, positioning it as the largest producer in the country. This is a material development with long-term implications for market share and profitability.
The company reported robust financial results with increased revenue and profit compared to the previous year. Strategic business developments like the acquisition and greenfield expansion are on track, indicating positive future growth prospects.
Indian Metals & Ferro Alloys Ltd (IMFA) announced its Q3 FY26 results for the period ending December 31, 2025. The company reported standalone revenue of ₹702.83 crore, EBITDA of ₹164.33 crore (23.38% margin), and PAT of ₹130.67 crore (18.59% margin). Exports stood at ₹603.15 crore.
For the quarter, Ferro Chrome production was 67,196 tonnes, with sales at 64,802 tonnes. Power generation was 256 million units, and chrome ore raising was 265,468 tonnes.
Key business highlights include the signing of definitive agreements on November 4, 2025, to acquire Tata Steel Limited’s ferro chrome plant at Kalinganagar for ₹610 crore, with ownership transfer expected in Q4 FY26, subject to statutory approvals. The 100,000 tpa greenfield expansion at Kalinganagar is on track, with the first furnace expected in June 2026. The ethanol project at Therubali is progressing well, with commissioning expected in March 2026.
Managing Director Mr. Subhrakant Panda commented that IMFA delivered robust numbers supported by improved realisations and stable operating costs. He anticipates similar market dynamics ahead, with potential for improved margins if ferro chrome demand increases. The greenfield expansion and strategic acquisition are expected to position IMFA as the country's largest producer of ferro chrome. The company also intends to increase its exposure to the domestic market as additional capacity comes online, expecting reduced blended production costs due to proximity to chrome ore mines. IMFA aims to be a sustainability-focused, reliable, and globally competitive producer.
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