IMFA ramps up output as ferro chrome market revives
Jul 26, 2016
Internal Press Release

Indian Metals & Ferro Alloys ltd (IMFA), India’s leading fully integrated producer of value added chrome, today announced its Q1 FY17 results for the period ended June 30, 2016.

Highlights of Q1 FY17 vs Q1 FY16
• Revenue of Rs 250.46 crores vs Rs 340.01 crores
• Exports of Rs 217.42 crores vs Rs 299.25 crores
• EBIDTA before exceptional items of Rs 2.78 crores vs Rs 52 crores

Highlights of Q1 FY17 vs Q4 FY16
• Revenue of Rs 250.46 crores vs Rs 203.86 crores
• Exports of Rs 217.42 crores vs Rs 173.88 crores
• EBIDTA before exceptional items of Rs 2.78 crores vs (-) Rs 27.80 crores

Operational Highlights Q1 FY17 vs Q1 FY16
• Ferro Chrome production of 50,592 tonnes as compared to 46,027 tonnes
• Sales of 51,324 tonnes vs 52,005 tonnes
• Power generation of 220 MU vs 212 MU

Operational Highlights Q1 FY17 vs Q4 FY16
• Ferro Chrome production of 50,592 tonnes as compared to 30,904 tonnes
• Sales of 51,324 tonnes vs 38,101 tonnes
• Power generation of 220 MU vs 142 MU

Commenting on the results Mr Subhrakant Panda, MD & CEO, IMFA said: “Coming out of a very bad year which severely affected financial performance, Q1 FY17 witnessed a turnaround as ferro chrome demand recovered and prices improved. While this is not reflected in the reported numbers since quarterly prices were finalised prior to such recovery, we are now in distinctly different territory as compared to the last two quarters. Unsustainable prices brought about a rapid rebalancing which was helped further by stimulus measures in China and appreciation of the Rand. As such, the worst seems to be behind us and, along with operational efficiencies, has resulted in improved performance compared to the preceding quarter. More importantly, we are confident of a sustained recovery going ahead.”

For any information relating to IMFA Group or to enquire about a Press Release issued by us please contact:

Mr Kishore Mohan Mohanty
Bhubaneswar
email: kishoremohanty@imfa.in