Indian Metals & Ferro Alloys Ltd
Indian Metals & Ferro Alloys Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #3 of 9 in Ferrous Metals
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Indian Metals & Ferro Alloys Ltd Q2 FY26 key numbers
- Revenue
- Long-term goal targeting 1.2 million tons of Run-of-Mine (ROM) ore production to ensure full integration, eliminating need for outside ore purchases.
As stated in Indian Metals & Ferro Alloys Ltd's Q2 FY26 earnings call transcript · published 4 Aug 2026. Reported figures, not investment advice.
The short version
IMFA expects volume to increasingly drive revenue alongside price as production ramps up (Page 26). The company expects improved EBITDA margins in Q3 and Q4 FY '26 due to rising ferrochrome prices and elimination of one-time impacts (Q2 margins at 19.3%).
From Indian Metals & Ferro Alloys Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- IMFA expects volume to increasingly drive revenue alongside price as production ramps up (Page 26).
- Current production capacity is 260,000 tons annually; with the Tata plant acquisition adding 70,000-80,000 tons, and greenfield projects contributing additional volumes, targeting around 400,000 tons total in FY '27 (Pages 20, 8).
- Strategic focus on moving from primarily export sales (~90%) to a balanced mix of 60% exports and 40% domestic sales, leveraging Odisha’s growing stainless steel hub (Page 21).
- Long-term goal targeting 1.2 million tons of Run-of-Mine (ROM) ore production to ensure full integration, eliminating need for outside ore purchases (Page 22).
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Profitability & Margins
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Capital Expenditure Plans
- Rs. 900 crore CAPEX planned for FY '26, comprising greenfield expansion and underground mining (Page 24).
- Underground mining CAPEX of Rs. 1,000 crore spread over about four years to shift from open cast 3 lakh tons to underground 6 lakh tons in Sukinda (Page 24).
- Greenfield project expansion capacity of around 96,000 to 100,000 tons expected by FY '27, with phased commissioning beginning June 2026 (Page 20).
- Acquisition of Tata Steel’s ferrochrome plant for approximately Rs. 600 crores; funded entirely from internal accruals (Pages 25, 20).
- Expansion sources of funding: mix of equity and debt with debt sanctioned but limited drawdown planned (~Rs. 400 crores sanctioned term loan) (Page 20).
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Top-ranked in Ferrous Metals
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Indian Metals & Ferro Alloys Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹763 Cr, net profit ₹103 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Indian Metals & Ferro Alloys Ltd's management said in earlier quarters
Others in Ferrous Metals this season
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Sponge iron capacity currently at 36,050 metric tons with ~84% utilization. Key concall takeaways from Shri Hare-Krishna Sponge Iron Ltd's Q2 FY26 earnings…
- Tata Steel Ltd (Q2 FY26)
Domestic volumes grew significantly (e.g., 20% QoQ increase in domestic deliveries) showcasing strong customer demand (Page 3). Key concall takeaways from Tata…
- Steel Authority of India Ltd (Q2 FY26)
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Potential multibaggers · Q2 FY27
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on management's own guidance
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Indian Metals & Ferro Alloys Ltd Q2 FY26 results?
IMFA expects volume to increasingly drive revenue alongside price as production ramps up (Page 26). The company expects improved EBITDA margins in Q3 and Q4 FY '26 due to rising ferrochrome prices and elimination of one-time impacts (Q2 margins at 19.3%).
What is Indian Metals & Ferro Alloys Ltd share price analysis?
Indian Metals & Ferro Alloys Ltd currently shows a neutral. The stock trades at a P/E of 12.1 with a market cap of ₹6,363 Cr. Investors should review the full earnings analysis for detailed insights.
Is Indian Metals & Ferro Alloys Ltd planning capital expenditure?
Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.