What the business is, and whether it's a good one at a fair price.
Produces ferro chrome, the alloy used in stainless steel, from captive chrome ore and captive power at its integrated operations in Odisha. In FY26, ferro chrome accounted for 73.7% of segment revenue (₹2,824 crore) and delivered segment EBIT of ₹611.29 crore, while the captive Power and Mining segments contributed 14.2% and 12.0% of segment revenue respectively but operated near break-even. The Q3 FY26 run-rate was 67,196 tonnes of ferro chrome production and 64,802 tonnes of sales at INR118,000–120,000/tonne, supported by 265,468 tonnes of chrome ore raising and 256.17 MU of captive power in that quarter. The business is in the middle of doubling-plus its ferro chrome footprint: it acquired Tata Steel's Kalinganagar ferro chrome plant in February 2026 for ₹861 crore plus ₹25 crore of working capital, and is commissioning the KNR 1 greenfield (first furnace June 2026, total capex ~₹800 crore), with management guiding to ~400,000 tonnes in FY27 and 475,000–500,000 tonnes in FY28 against the current ~265,000-tonne base, eventually reaching 0.5 MTPA. Chrome ore raising is targeted to scale from ~850,000 tonnes in FY26 to 1 million tonnes in FY27 to feed the expanded furnaces, and an ethanol project is due to commission in March 2026 for top-line contribution from FY27. Materials (bought-out chrome ore, reductants and electrodes) are the largest external cost line at 36.8% of revenue, with capex heavy at 47.3% of revenue in FY26.
Measured from the filed financials, judged against its Ferro & Silica Manganese peers · as of FY26 — not investment advice
How has the market priced it — with filings on the timeline?
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Answered from INDIAN METALS & FERRO's filed financials and exchange disclosures
INDIAN METALS & FERRO is a Ferrous Metals company listed on NSE and BSE, trading under the symbol IMFA.
Yes. Over the trailing twelve months INDIAN METALS & FERRO reported a net profit of ₹525 Cr on revenue of ₹3,145 Cr.
Yes. The dividend yield is 0.81% at the current price. It paid out 13% of its profit as dividend in FY26.
No. Debt stands at 0.34× equity, and it carries net debt of ₹889 Cr. That is lower than 17% of its 7 Ferro & Silica Manganese peers.
On trailing P/E, INDIAN METALS & FERRO ranks 6 of 8 in Ferro & Silica Manganese — cheaper than 29% of them, against an industry median of 11.5×. This is a position, not a valuation judgement.
On a typical session INDIAN METALS & FERRO moves 1.81% — that is the median absolute close-to-close move across its last 269 trading days. Announcement days are routinely larger.
Every NSE and BSE filing by INDIAN METALS & FERRO appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.
Figures are as last reported and may lag the latest filing. Not investment advice.
