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Indian Metals & Ferro Alloys Q1 FY27 Share Price & Earnings Call Analysis

₹1,106.50+1.68% today
Market cap
₹5,969 Cr
P/E
11.38
ROE
16.77%
PEG
0.51
Price to sales
1.90
Debt to equity
0.35
52W high / low
₹1,654 / ₹1,083
Sales growth (5Y)
8.91%
EBITDA margin
23.62%
Net profit margin
15.05%
Promoter holding
58.69%
Sales (last year)
₹3,145 Cr

Indian Metals and Ferro Alloys Limited (IMFA) is a leading, fully integrated producer of Ferro Chrome in India which is primarily used in the production of stainless steel. It was set up in 1961. [1]

Guidance scorecard · Q1 FY27 call

What Indian Metals & Ferro Alloys Ltd's management guided
and where it ranks in Ferrous Metals

#3of 9 in
Ferrous Metals
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Production for FY27 expected around 380,000 tons, slightly lower than the earlier guidance of 400,000 tons due to transformer constraints at KNR-2.
  • Full production capacity expected by Q4 FY27, targeting approximately 120,000-125,000 tons per month, a 50% increase from Q1 volumes of 80,000 tons.
  • FY28 production guidance remains at 475,000 to 500,000 tons.
  • Incremental volume expected in Q2 FY27 with further ramp-up in subsequent quarters.
  • Domestic sales projected to increase, with Q1 domestic sales around 19% and a target to raise domestic sales to 40% of total volumes.

2 more points from Indian Metals & Ferro Alloys Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Indian Metals & Ferro Alloys Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Indian Metals & Ferro Alloys Limited is investing in replacement of two sets of transformers plus a spare for KNR-2 furnaces due to reliability concerns, planned over Q2 or Q3.
  • Additional work is needed on the gas cleaning plant (GCP) at KNR-2 to comply with emission norms, restricting current load.
  • The Board has approved an incremental budget increase (~INR 15-20 crores) for environmental clearance and related work for a 50,000-ton furnace at KNR-2; expect clarity on operational timeline by mid-2027.

2 more points from Indian Metals & Ferro Alloys Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Indian Metals & Ferro Alloys Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The company is flexible in selling ferrochrome domestically and internationally based on market conditions, maintaining minimum base tonnages for long-term customers.
  • Domestic sales comprised around 19% in Q1, with potential to increase as capacity grows.
  • The company stresses a general upward volume trajectory rather than focusing on short-term quarterly order book details.
Full Q1 FY27 analysis
Full Ferrous Metals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Ferrous Metals
on management's own guidance

  1. Jai Balaji Industries LtdGood growth
    2
  2. Strong growth
    1
  3. This stockIndian Metals & Ferro Alloys LtdGood growth
    3
See all potential multibaggersAll Ferrous Metals rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Ferrous Metals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹59 Cr9.4
2Jai Balaji Industries Ltd20–40%Flat₹6,599 Cr45.1
3Indian Metals & Ferro Alloys LtdThis stock20–40%Flat₹6,366 Cr12.1
410–20%Up 2%+₹70,612 Cr14.6
510–20%Up 0–2%₹7,471 Cr19.1
610–20%Flat₹2.97L Cr24.7

Sign up free to see every company in the sector ranking and track Indian Metals & Ferro Alloys Ltd.

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Financials of Indian Metals & Ferro Alloys Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Indian Metals & Ferro Alloys Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +637702693685701662692643567642719703763
Expenses +498529542526596501521515497516580539604
Operating Profit13917315015910516117012871125138164159
OPM %22%25%22%23%15%24%25%20%12%20%19%23%21%
Other Income +-110121011131917172216226
Interest9813854681078911
Depreciation29252615131413141415151518
Profit before tax991491231469815717012364126131161136
Tax %35%26%27%25%64%28%26%24%26%26%25%19%24%
Net Profit +64111891093611312593479398131103
EPS in Rs11.8720.4616.5320.146.5420.9523.1717.308.7717.1118.0724.3319.13

Financials of Indian Metals & Ferro Alloys Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,3451,2111,6721,7661,6341,6121,8442,6032,6762,7802,5652,826
Expenses +1,1041,0881,1591,3331,3611,5231,5071,7932,1882,1932,0342,239
Operating Profit24112351343227289338810488587531587
OPM %18%10%31%24%17%6%18%31%18%21%21%21%
Other Income +13-14827-622150179426665
Interest1068183759497555966352836
Depreciation12211410910198104104110107785563
Profit before tax26-7336928319-91228658324516514554
Tax %84%-40%33%34%103%-27%27%23%30%33%26%23%
Net Profit +4-44249187-1-66167508226344379425
EPS in Rs0.71-8.4746.1034.46-0.19-12.3130.8494.0141.7563.6870.1978.64
Dividend Payout %106%-12%22%22%-1,323%0%16%13%24%12%28%10%

Financials of Indian Metals & Ferro Alloys Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital262627272727275454545454
Reserves8558071,0371,1891,1431,0571,2151,6611,8192,0512,2942,664
Borrowings +1,1281,060910822766713679490341237389958
Other Liabilities +539501530614719617620616440571441641
Total Liabilities2,5482,3942,5042,6522,6552,4142,5412,8212,6542,9133,1774,317
Fixed Assets +1,3721,3301,2751,2561,1771,2161,1551,1119909971,0501,574
CWIP193226236273304264248267707875792
Investments0351611486933120155264372909383
Other Assets +9838038329741,1049011,0191,2901,3301,4661,1441,568
Total Assets2,5482,3942,5042,6522,6552,4142,5412,8212,6542,9133,1774,317

Financials of Indian Metals & Ferro Alloys Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +174218485290217221207390151460585
Cash from Investing Activity +-43-101-162-88-31-49-106-106140-209-562
Cash from Financing Activity +-113-161-322-191-187-182-99-284-291-207-68
Net Cash Flow18-44210-2-112-0144-44
Free Cash Flow102131443173113127182303387347471
CFO/OP75%187%101%85%96%247%69%75%45%107%135%

Financials of Indian Metals & Ferro Alloys Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1441513117182012181631
Inventory Days208177176192256168174207162224264283
Days Payable8674618812872744952887096
Cash Conversion Cycle137107130117140103118178122153210218
Working Capital Days3-39112-8-29-21374714161
ROCE %7%1%23%17%9%0%14%34%18%24%21%18%

Guidance history

How Indian Metals & Ferro Alloys Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlanned——
Q4 FY26 call →20–40%FlatPlannedPlanned—
Q3 FY26 call →20–40%FlatPlannedPlanned—
Q2 FY26 call →20–40%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

14out of 100

Momentum score · price trend

14 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−4.4%56%
Last 6 months−34.2%6%
Last 3 months−20.7%16%

The price is 34.2% below its all-time high of ₹1,653.9 (29 Apr 2026). Stocks more than 20% below their peak have their score halved, so 28 became 14.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Indian Metals & Ferro Alloys Ltd: 0.4 × 56 + 0.4 × 6 + 0.2 × 16 = 28, halved to 14 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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