IMFA Q2FY27 net
profit jumps 51 pc to Rs 149 crore on higher production, export growth
THEBUSINESSBYTES BUREAU
BHUBANESWAR, NOVEMBER 4, 2026
Indian Metals and Ferro Alloys Ltd (IMFA), the country's largest producer
of value-added ferrochrome, has posted a 50.62 per cent year-on-year growth in
consolidated net profit at Rs 148.77 crore in the second quarter of FY27,
riding on higher production and sales volumes following capacity expansion.
The company had registered a net profit of Rs 98.77 crore in the
corresponding quarter of the previous financial year.
Revenue from operations rose 34.72 per cent to Rs 968.17 crore during the
quarter ended September 30, compared with Rs 718.65 crore in the year-ago
period. Earnings before interest, tax, depreciation and amortisation (EBITDA)
surged to Rs 235.04 crore from Rs 138.34 crore, reflecting improved operating
performance.
The strong performance was primarily driven by increased production and
sales volumes following capacity addition, supported by IMFA's integrated
business model encompassing captive chrome ore mining, ferrochrome
manufacturing and power generation.
The Bhubaneswar-headquartered company also reported robust growth in the
first half of FY27, with revenue increasing 41.79 per cent to Rs 1,928.62 crore
from Rs 1,360.19 crore in the corresponding period of the previous fiscal.
EBITDA nearly doubled to Rs 516.31 crore, registering a growth of 95.72
per cent over Rs 263.81 crore in H1FY26. Profit after tax rose 78.86 per cent
to Rs 340.26 crore against Rs 190.25 crore in the year-ago period.
Exports remained a key growth driver, contributing around 84 per cent of
IMFA's quarterly revenue. Export earnings during Q2FY27 increased to Rs 817.54
crore from Rs 603.96 crore in the corresponding quarter last year. For the
first half, export revenue rose to Rs 1,611.15 crore from Rs 1,160.22 crore.
On the operational front, ferrochrome production increased by nearly 32
per cent to 86,652 tonnes during the September quarter from 65,671 tonnes a
year ago. Sales volumes grew around 17.5 per cent to 81,998 tonnes against
69,765 tonnes in Q2FY26.
During the first half of FY27, production stood at 1,67,342 tonnes
compared with 1,31,600 tonnes in the corresponding period last year, while
sales rose to 1,61,265 tonnes from 1,36,345 tonnes.
The company continued to strengthen its raw material security through
captive mining operations. Chrome ore raising during Q2FY27 stood at 1,44,697
tonnes against 1,69,615 tonnes in the year-ago quarter. However, cumulative
production during H1FY27 increased substantially to 4,17,253 tonnes from
2,73,395 tonnes in the corresponding period of FY26.
Power generation during the September quarter stood at 301 million units
against 309 million units in Q2FY26. For the first half, generation remained
broadly stable at 589 million units compared with 588 million units in the
year-ago period. IMFA is also pursuing energy diversification through a
transition towards hybrid renewable energy.
Commenting on the performance, IMFA Managing Director Subhrakant Panda
said the company remained focused on strengthening its fully integrated
business model to ensure resilience and competitiveness across market cycles.
He said the substantial expansion in smelting capacity following the
commissioning of the Kalinganagar greenfield project would enable the company
to cater to rising demand.
Expressing confidence in the ferrochrome market outlook, Panda said prices were expected to remain supportive, given the cost pressures confronting non-integrated producers.
"Alongside capacity growth and a shift to hybrid renewable energy, production of niche grades and a proposed diversification into low carbon ferrochrome will broaden the product range and bolster margins," he added.
