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₹ 534

Price to Book2.41

Dividend Yield1.01 %

ROCE18.7 %

ROE16.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Ferro Chrome: 98.8% • Other Operating Revenues: 1.1% • Low Density Aggregate: 0.1%

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 22.0%
Latest quarter profit grew 109.3% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.06x)
Working capital cycle has improved - days down from 170 to 65
Company has a consistent dividend-paying track record

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

Standalone Figures in Rs. Crores / View Consolidated

	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	575	501	521	515	497	516	580	538	604	716
Operating Profit	171	146	159	125	161	171	128	71	125	138	164	159	245
OPM %	24.31%	21.05%	23.20%	17.90%	24.36%	24.64%	19.92%	12.43%	19.56%	19.25%	23.38%	20.84%	25.49%
	12	13	9	11	12	20	18	17	21	17	21	7	12
Interest	9	9	9	6	5	6	9	11	8	9	10	12	13
Depreciation	25	26	15	13	14	13	14	14	15	15	15	18	23
Profit before Tax	149	124	144	118	155	171	123	63	124	132	160	136	257
Tax %	26.06%	27.16%	25.16%	52.65%	27.68%	26.29%	24.39%	25.56%	26.40%	25.16%	18.52%	24.20%	25.44%
Net Profit	110	90	108	56	112	126	93	47	91	99	131	103	191
	20.39	16.67	19.99	10.36	20.79	23.30	17.26	8.72	16.96	18.31	24.22	19.17	35.49

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,157	1,342	1,353	1,523	1,516	1,799	2,188	2,173	2,034	2,239	2,439
Operating Profit	515	424	281	89	329	804	489	608	531	587	707
OPM %	30.81%	24.00%	17.17%	5.54%	17.82%	30.87%	18.26%	21.85%	20.69%	20.78%	22.47%
	49	37	-56	20	67	25	10	42	67	67	58
Interest	86	78	96	99	64	62	68	37	31	38	43
Depreciation	109	101	98	104	104	110	107	78	55	63	72
Profit before Tax	370	282	30	-94	227	657	323	534	512	553	686
Tax %	32.42%	33.82%	63.14%	27.08%	26.67%	22.71%	30.13%	31.95%	26.16%	23.28%	23.52%
Net Profit	250	187	11	-69	167	508	226	364	378	424	524
EPS	95.04	69.18	4.09	-25.40	30.91	94.13	41.84	67.40	70.07	78.64	—
Dividend Payout %	21.60%	10.50%	59.15%	0.00%	16.18%	13.28%	23.90%	44.51%	28.54%	15.89%	—

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:: 18%
Last Year:: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,016	1,169	1,130	1,042	1,200	1,647	1,805	2,025	2,268	2,638
	1,084	997	938	874	838	650	366	260	412	977
Trade Payables	118	196	272	186	190	147	209	281	195	277
	238	256	285	269	270	307	203	284	239	360
Total Liabilities	2,484	2,632	2,638	2,398	2,525	2,805	2,636	2,905	3,168	4,306
	1,005	990	967	1,010	952	912	960	975	1,028	1,549
Capital Work in Progress	56	90	118	74	55	69	64	66	74	792
	327	314	181	141	228	262	377	364	899	374
	340	428	545	432	445	622	647	712	736	815
	0	0	0	0	0	0	0	137	113	239
Cash & Bank	27	40	52	42	49	22	27	97	21	45
	728	770	774	699	795	917	562	555	295	492
Total Assets	2,484	2,632	2,638	2,398	2,525	2,805	2,636	2,905	3,168	4,306

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	453	368	273	223	231	602	584	332	586	319
Cash from Investing	-248	-86	-26	-51	-103	-105	-222	-75	-560	-753
Cash from Financing	-174	-193	-205	-184	-101	-283	-296	-212	-71	459
	2	11	-2	-11	2	0	1	44	-44	25

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

575

501

521

515

497

516

580

538

604

716

Operating Profit

171

146

159

125

161

171

128

125

138

164

159

245

OPM %

24.31%

21.05%

23.20%

17.90%

24.36%

24.64%

19.92%

12.43%

19.56%

19.25%

23.38%

20.84%

25.49%

Interest

Depreciation

Profit before Tax

149

124

144

118

155

171

123

124

132

160

136

257

Tax %

26.06%

27.16%

25.16%

52.65%

27.68%

26.29%

24.39%

25.56%

26.40%

25.16%

18.52%

24.20%

25.44%

Net Profit

110

108

112

126

131

103

191

20.39

16.67

19.99

10.36

20.79

23.30

17.26

8.72

16.96

18.31

24.22

19.17

35.49

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

1,157

1,342

1,353

1,523

1,516

1,799

2,188

2,173

2,034

2,239

2,439

Operating Profit

515

424

281

329

804

489

608

531

587

707

OPM %

30.81%

24.00%

17.17%

5.54%

17.82%

30.87%

18.26%

21.85%

20.69%

20.78%

22.47%

-56

Interest

Depreciation

109

101

104

110

107

Profit before Tax

370

282

-94

227

657

323

534

512

553

686

Tax %

32.42%

33.82%

63.14%

27.08%

26.67%

22.71%

30.13%

31.95%

26.16%

23.28%

23.52%

Net Profit

250

187

-69

167

508

226

364

378

424

524

EPS

95.04

69.18

4.09

-25.40

30.91

94.13

41.84

67.40

70.07

78.64

—

Dividend Payout %

21.60%

10.50%

59.15%

0.00%

16.18%

13.28%

23.90%

44.51%

28.54%

15.89%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,016

1,169

1,130

1,042

1,200

1,647

1,805

2,025

2,268

2,638

1,084

997

938

874

838

650

366

260

412

977

Trade Payables

118

196

272

186

190

147

209

281

195

277

238

256

285

269

270

307

203

284

239

360

Total Liabilities

2,484

2,632

2,638

2,398

2,525

2,805

2,636

2,905

3,168

4,306

1,005

990

967

1,010

952

912

960

975

1,028

1,549

Capital Work in Progress

118

792

327

314

181

141

228

262

377

364

899

374

340

428

545

432

445

622

647

712

736

815

137

113

239

Cash & Bank

728

770

774

699

795

917

562

555

295

492

Total Assets

2,484

2,632

2,638

2,398

2,525

2,805

2,636

2,905

3,168

4,306

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

453

368

273

223

231

602

584

332

586

319

Cash from Investing

-248

-86

-26

-51

-103

-105

-222

-75

-560

-753

Cash from Financing

-174

-193

-205

-184

-101

-283

-296

-212

-71

459

-2

-11

-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