Iron & Steel Products company Indian Metals & Ferro Alloys announced Q4FY24 results:
- IMFA has reported its Q4 FY24 financial results, showcasing a revenue of Rs 700.56 crore with a notable EBITDA of Rs 135.21 crore.
- The company maintained a healthy EBITDA margin at 19.30% and achieved a Profit After Tax (PAT) of Rs 82.65 crore.
- The earnings per share (EPS) stood at Rs 15.32, indicating a robust return for shareholders.
- Export revenue contributed significantly to the company's earnings with a figure of Rs 630.77 crore.
Operational Performance
- Ferro chrome production reached a new milestone at 65,139 tonnes, emphasizing IMFA's operational efficiency.
- With 67,981 tonnes sold, the ferro chrome sales volume reflects the company's strong market presence.
- Power generation was marked at 286 million units, supporting the company's self-sufficiency in power.
- Chrome ore raising also surpassed previous records, hitting over 6 lakh tonnes, which demonstrates a significant enhancement in mining operations.
Commenting on the annual results, Subhrakant Panda, Managing Director said: “Excellent operational performance during the year with highest ever ferro chrome production, chrome ore raising, and captive power generation set the stage for a strong financial performance. We are poised to embark on our expansion and diversification plans on the back of a robust Balance Sheet with zero debt, and this will create substantial value in times to come.”
Addressing the demand outlook, he said: “Even as there are some concerns due to ongoing geopolitical conflicts, economic stimulus measures announced by the Chinese Government augur well for commodities in general. Meanwhile, China remains a relatively high cost producer of ferro chrome which provides a base to prices. India’s focus on infrastructure with a large capital expenditure outlay in the interim budget will boost demand for stainless steel and, hence, ferro chrome.”