Indian Metals & Ferro Alloys Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
IMFA · price
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On the reaction day the stock moved 2.0 pts more than Nifty Microcap 250 and 3.0 pts more than its Ferro & Silica Manganese peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IMFA's board approved standalone and consolidated results for Q2 FY26 (ended 30 Sep 2025). Standalone revenue from operations grew modestly to Rs 718.65 cr (vs Rs 691.92 cr in Q2 FY25, up ~3.9%), but profit after tax fell to Rs 98.77 cr (vs Rs 125.72 cr, down ~21%) and EPS slipped to Rs 18.31 (vs Rs 23.30). Power & fuel and other expenses rose sharply, squeezing profitability. The company also signed an Asset Transfer Agreement with Tata Steel to buy its Ferro Alloys Plant at Kalinganagar, Odisha for a base consideration of Rs 610 cr plus GST and net working capital, expected to close in 3-6 months subject to environment ministry approval. An interim dividend of Rs 5 per share (50%) was declared with a record date of 11 Nov 2025 and payment by 3 Dec 2025. Prior period figures were restated to reflect the merger of Utkal Coal Limited, though management states the impact is not material.
Mixed for shareholders: a sizeable capacity-expanding acquisition from Tata Steel and a healthy 50% interim dividend are positives, but a ~21% YoY drop in quarterly profit and rising power and other costs signal margin pressure that the market may react to negatively in the near term.