IMFA Q2 FY20 results reflect challenging market conditions
Improvement in operational performance; FeCr prices also expected to pick up
Oct 22, 2019
Internal Press Release

Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome, announced Q2 & H1 FY20 results today for the period ending September 30th, 2019..

Highlights of Q2 FY20 vs Q1 FY20
• Revenues of Rs 389.47 crores vs Rs 445.93 crores
• Exports of Rs 352.05 crores vs Rs 401.06 crores
• Loss of Rs 33.07 crores vs Profit of Rs 10.66 crores

Highlights of Q2 FY20 vs Q2 FY19
• Revenues of Rs 389.47 crores vs Rs 394.77 crores
• Exports of Rs 352.05 crores vs Rs 347.99 crores
• Loss of Rs 33.07 crores vs Profit of Rs 21.49 crores

Highlights of H1 FY20 vs H1 FY19
• Revenues of Rs 835.40 crores vs Rs 807.30 crores
• Exports of Rs 753.11 crores vs 725.96 crores
• Loss of Rs 22.41 crores vs Profit of Rs 50.23 crores

Operational Highlights
• FeCr production of 59,371 tonnes vs 47,021 tonnes
• FeCr sales of 59,221 tonnes vs 49,430 tonnes
• Power generation of 275 mu vs 223 mu

Financial Highlights
• Long Term Debt Rs 521.55 crores
• Debt:Equity Ratio 0.47

Management Comment
Commenting on the developments Mr Subhrakant Panda, Managing Director said “Market conditions are extremely challenging at the moment with prices being at unviable levels. While there have been significant production cutbacks all over the world, our fully integrated business model, low gearing and long term marketing arrangements with leading customers has helped us sustain. As such, especially given the reported finalisation of a ‘mini deal’ between the US & China, we expect market conditions to start improving with pick up in prices to follow.”

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