Indian Metals & Ferro Alloys Ltd.

•

imfa.inBSE: 533047NSE: IMFA

Market Cap₹ 6,709 Cr.

Current Price

High / Low₹ 1,680 / 1,012

Stock P/E12.8

Book Value₹ 539

Price to Book2.39

Dividend Yield1.01 %

ROCE18.5 %

ROE16.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Ferro Alloys: 99.9% • Others: 0.1% • Mining: 0.0%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has delivered good profit growth of 20.5% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 21.5%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 108.1% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.19x)

CONS

Receivables are growing faster than sales - a possible quality concern
Total debt has risen sharply - up 147.8% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningFerro ManganeseFerro & Silica Manganese

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	NAVA	551.85	20.68	15634.61	1.54	332.82	-16.60	1211.80	1.56	15.55	43.45
2.	IMFA	1243.40	12.79	6708.65	1.01	192.59	108.12	960.45	49.71	18.54	29.29
3.	MAITHANALL	1043.40	10.45	3037.50	1.63	395.72	-26.43	539.53	-14.67	23.38	16.84

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	702	693	685	701	662	692	643	567	642	719	703	763	960
	531	547	526	596	501	521	515	497	516	580	539	604	715
Operating Profit	171	146	159	105	161	170	128	71	125	138	164	159	245
OPM %	24.31%	21.04%	23.20%	14.96%	24.36%	24.63%	19.93%	12.44%	19.56%	19.25%	23.38%	20.84%	25.55%
	12	12	10	11	13	19	17	17	22	16	22	6	13
Interest	8	9	8	5	4	6	8	10	7	8	9	11	12
Depreciation	25	26	15	13	14	13	14	14	15	15	15	18	23
Profit before Tax	149	123	146	98	157	170	123	64	126	131	161	136	258
Tax %	26.04%	27.45%	25.16%	63.73%	27.65%	26.48%	24.38%	25.55%	26.39%	25.46%	18.57%	24.15%	25.44%
Net Profit	0	0	0	0	113	125	93	47	93	98	131	103	193
	20.46	16.53	20.15	6.54	20.95	23.17	17.30	8.77	17.10	18.07	24.33	19.13	35.65

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,672	1,766	1,634	1,612	1,844	2,603	2,676	2,780	2,565	2,826	3,145
	1,159	1,343	1,361	1,523	1,516	1,800	2,188	2,193	2,034	2,239	2,438
Operating Profit	513	423	272	89	329	803	488	587	531	587	707
OPM %	30.70%	23.94%	16.68%	5.51%	17.82%	30.85%	18.25%	21.11%	20.69%	20.77%	22.48%
	48	36	-62	21	65	24	9	42	66	65	56
Interest	83	75	94	97	61	59	66	35	28	36	41
Depreciation	109	101	98	104	104	110	107	78	55	63	72
Profit before Tax	369	283	19	-91	228	658	324	516	514	554	687
Tax %	32.68%	34.04%	103.03%	27.33%	26.91%	22.80%	30.29%	33.28%	26.22%	23.34%	23.57%
Net Profit	249	187	-1	-66	167	508	226	344	379	425	525
EPS	94.70	68.98	-0.38	-24.65	30.87	94.01	41.75	63.67	70.19	78.63	—
Dividend Payout %	21.68%	10.53%	-640.20%	0.00%	16.20%	13.30%	23.95%	47.12%	28.50%	15.90%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 9%
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 21%
3 Years:: 23%

STOCK PRICE CAGR

10 Years:: 29%
5 Years:: 30%
3 Years:: 50%
1 Year:: 22%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 20%
3 Years:: 17%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	27	13	13	27	27	54	54	54	54	54
Minority Interest	31	30	30	31	30	30	30	9	9	9
	1,037	1,189	1,143	1,057	1,215	1,661	1,819	2,051	2,294	2,664
	1,053	966	908	845	810	623	339	235	388	954
Trade Payables	118	196	272	185	189	147	209	281	194	277
	239	257	288	269	270	306	202	283	238	359
Total Liabilities	2,504	2,652	2,655	2,414	2,541	2,821	2,654	2,913	3,177	4,317
	1,264	1,245	1,166	1,205	1,145	1,101	980	975	1,028	1,549
Capital Work in Progress	236	273	304	264	248	266	64	66	74	792
	161	148	69	33	120	155	264	372	909	383
	340	428	545	432	445	622	647	712	736	815
	0	0	0	0	0	0	0	137	113	239
Cash & Bank	36	48	57	43	50	23	33	97	21	47
	467	509	513	437	533	655	664	555	295	492
Total Assets	2,504	2,652	2,655	2,414	2,541	2,821	2,654	2,913	3,177	4,317

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	517	369	261	220	232	604	218	460	585	318
Cash from Investing	-161	-88	-31	-50	-106	-106	140	-209	-562	-753
Cash from Financing	-322	-191	-187	-182	-99	-284	-291	-207	-68	462
	2	10	-2	-11	2	-0	1	44	-44	27

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	58.69	58.69	58.69	58.69	58.69	58.69	58.69	58.69
	3.10	4.04	3.81	3.40	3.69	3.35	3.87	3.59
	0.92	0.82	0.81	0.19	0.21	0.64	0.82	0.88
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	37.29	36.46	36.70	37.73	37.41	37.32	36.62	36.85

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Shareholders meeting

2026-09-11 - Indian Metals & Ferro Alloys Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-09-10

Shareholders meeting

2026-09-10 - Indian Metals & Ferro Alloys Limited has informed the Exchange regarding Proceedings of Postal Ballot

2026-09-08

Appointment

2026-09-08 - Indian Metals & Ferro Alloys Limited has informed the Exchange regarding Appointment of Mr Partha Satpathy as Non- Execut of the company w.e.f. September 08, 2026.

2026-08-25

General Updates

2026-08-25 - Indian Metals & Ferro Alloys Limited has informed the Exchange about General Updates

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Indian Metals & Ferro Alloys Limited has informed the Exchange about Copy of Newspaper Publication of Postal Ballot Notice

2026-08-12

General Updates

2026-08-12 - Indian Metals & Ferro Alloys Limited has informed the Exchange about General Updates

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - Indian Metals & Ferro Alloys Limited has informed the Exchange about Transcript

2026-08-11

Shareholders meeting

2026-08-11 - Indian Metals & Ferro Alloys Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Indian Metals & Ferro Alloys Limited has informed the Exchange about Schedule of meet

News

Recent coverage and analyst commentary for IMFA

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Indian Metals & Ferro Alloys Ltd.

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Name

NAVA

551.85

20.68

15634.61

1.54

332.82

-16.60

1211.80

1.56

15.55

43.45

IMFA

1243.40

12.79

6708.65

1.01

192.59

108.12

960.45

49.71

18.54

29.29

MAITHANALL

1043.40

10.45

3037.50

1.63

395.72

-26.43

539.53

-14.67

23.38

16.84

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

702

693

685

701

662

692

643

567

642

719

703

763

960

531

547

526

596

501

521

515

497

516

580

539

604

715

Operating Profit

171

146

159

105

161

170

128

125

138

164

159

245

OPM %

24.31%

21.04%

23.20%

14.96%

24.36%

24.63%

19.93%

12.44%

19.56%

19.25%

23.38%

20.84%

25.55%

Interest

Depreciation

Profit before Tax

149

123

146

157

170

123

126

131

161

136

258

Tax %

26.04%

27.45%

25.16%

63.73%

27.65%

26.48%

24.38%

25.55%

26.39%

25.46%

18.57%

24.15%

25.44%

Net Profit

113

125

131

103

193

20.46

16.53

20.15

6.54

20.95

23.17

17.30

8.77

17.10

18.07

24.33

19.13

35.65

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,672

1,766

1,634

1,612

1,844

2,603

2,676

2,780

2,565

2,826

3,145

1,159

1,343

1,361

1,523

1,516

1,800

2,188

2,193

2,034

2,239

2,438

Operating Profit

513

423

272

329

803

488

587

531

587

707

OPM %

30.70%

23.94%

16.68%

5.51%

17.82%

30.85%

18.25%

21.11%

20.69%

20.77%

22.48%

-62

Interest

Depreciation

109

101

104

110

107

Profit before Tax

369

283

-91

228

658

324

516

514

554

687

Tax %

32.68%

34.04%

103.03%

27.33%

26.91%

22.80%

30.29%

33.28%

26.22%

23.34%

23.57%

Net Profit

249

187

-1

-66

167

508

226

344

379

425

525

EPS

94.70

68.98

-0.38

-24.65

30.87

94.01

41.75

63.67

70.19

78.63

—

Dividend Payout %

21.68%

10.53%

-640.20%

0.00%

16.20%

13.30%

23.95%

47.12%

28.50%

15.90%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

1,037

1,189

1,143

1,057

1,215

1,661

1,819

2,051

2,294

2,664

1,053

966

908

845

810

623

339

235

388

954

Trade Payables

118

196

272

185

189

147

209

281

194

277

239

257

288

269

270

306

202

283

238

359

Total Liabilities

2,504

2,652

2,655

2,414

2,541

2,821

2,654

2,913

3,177

4,317

1,264

1,245

1,166

1,205

1,145

1,101

980

975

1,028

1,549

Capital Work in Progress

236

273

304

264

248

266

792

161

148

120

155

264

372

909

383

340

428

545

432

445

622

647

712

736

815

137

113

239

Cash & Bank

467

509

513

437

533

655

664

555

295

492

Total Assets

2,504

2,652

2,655

2,414

2,541

2,821

2,654

2,913

3,177

4,317

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

517

369

261

220

232

604

218

460

585

318

Cash from Investing

-161

-88

-31

-50

-106

140

-209

-562

-753

Cash from Financing

-322

-191

-187

-182

-99

-284

-291

-207

-68

462

-2

-11

-0

-44

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

58.69

3.10

4.04

3.81

3.40

3.69

3.35

3.87

3.59

0.92

0.82

0.81

0.19

0.21

0.64

0.82

0.88

Government

0.00

37.29

36.46

36.70

37.73

37.41

37.32

36.62

36.85

Indian Metals & Ferro Alloys Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Indian Metals & Ferro Alloys Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI