Indian Metals & Ferro Alloys has announced its first-quarter FY27 results, achieving record revenue and profitability amid expanded capacities and strategic acquisitions, while adjusting annual output targets due to infrastructure upgrades.
Indian Metals & Ferro Alloys said its first quarter of FY27 delivered record revenue and profitability, helped by firmer prices and a larger contribution from its K&R2 acquisition, even as the company trimmed its full-year output target because of technical work at older assets. Managing director Subhrakant Panda said the group produced 80,000 tonnes in the quarter, above its recent average of about 65,000 tonnes, and expects a steadier ramp-up as new capacity comes on stream. LiveMint reported quarterly revenue of ₹641.54 crore and net income of ₹92.29 crore for the period, reflecting a sharp sequential improvement in earnings.
Panda said the company is now guiding for about 380,000 tonnes of production in FY27, down from an earlier 400,000-tonne target, after identifying transformer constraints at K&R2 and the need to upgrade the gas cleaning plant to stay within emissions norms. The firm has ordered replacement transformers and expects the issues to ease over the next two quarters. Even so, management believes output can reach 120,000 to 125,000 tonnes a quarter by the fourth quarter of FY27 once operations settle.
The company’s KNR1 greenfield project is the main growth driver. Panda said the first furnace is expected to begin tapping in the third week of August, with the second due by the end of September or early October. Arthneeti said the broader expansion plan supports a move towards 475,000 to 500,000 tonnes in FY28, alongside a bigger shift in the sales mix as IMFA looks to deepen domestic volumes and lock in more business through long-term contracts.
Panda also pointed to the company’s captive chrome ore mines as a buffer against raw-material volatility, arguing that this gives IMFA a cost edge even if ferrochrome prices soften. He said the quarter’s average selling price was just below ₹120,000 a tonne and declined to give detailed EBITDA guidance, saying only that higher volumes should offset modest price pressure. He added that South African output, helped by special power tariffs, could reshape supply, but said the market should be viewed in terms of chrome units rather than headline tonnage.
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