IMFA’s Q2 FY23 result reflects strong Balance Sheet

Ferro Chrome prices have recently started moving up again

New Delhi, October 27th, 2022: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading producer of ferro alloys, announced Q2 FY23 results today for the period ending September 30th, 2022.

Highlights of Q2 FY23 vs Q2 FY22
• Revenues of Rs 672.45 crore vs Rs 653.16 crore

• Exports of Rs 631.30 crore vs Rs 636.23 crore

• EBITDA of Rs 79.18 crore vs Rs 243 crore

• PAT of Rs 17.82 crore vs Rs 144.93 crore

Highlights of Q2 FY23 vs Q1 FY23

· Revenues of Rs 672.45 crore vs Rs 743.42 crore

· Exports of Rs 631.30 crore vs Rs 710.53 crore

· EBITDA of Rs 79.18 crore vs Rs 224.67 crore

· PAT of Rs 17.82 crore vs Rs 133.83 crore

Highlights of H1 FY23 vs H1 FY22
· Revenues of Rs 1415.87 crores vs Rs 1191.02 crores

· Exports of Rs 1341.83 crores vs Rs 1134.41 crores

· EBITDA of Rs 303.85 crores vs Rs 420.01 crores

· PAT of Rs 151.65 crores vs Rs 243.50 crores

Operational Highlights of Q2 FY23 vs Q2 FY22
· FeCr production of 61,423 mt vs 64,528 mt

· FeCr sales of 64,475 mt vs 62,976 mt

· Power generation of 274 MU vs 274 MU

Business Highlights
· Compensation expected within this financial year consequent to reallocation of Utkal ‘C’ coal block

Commenting on the results, Mr Subhrakant Panda, Managing Director said: “The threat of global recession and persistent inflation have had a negative impact on commodity prices; ferro chrome is no exception in this regard. Moreover, high input costs which carried over have impacted margins; however, the advantage of being fully integrated and debt free is reflected in the reported results. Though geo-political developments and supply chain disruptions continue to cast a shadow, there is a trend reversal in ferro chrome prices and certain input costs are also coming down. As such, we expect an improved performance going ahead.”