Makes ferro alloys — including ferro manganese and silica manganese — at three manufacturing plants located in West Bengal, Meghalaya, and Andhra Pradesh, and is classified in the Ferro & Silica Manganese industry. All of segment revenue for the year ended 31 March 2026 came from Ferro Alloys at Rs 2,251.41 crore (100% of segment revenue), with a Real Estate segment reported but contributing no revenue. Materials account for the largest share of costs at 49.4% of revenue, followed by other operating expenses at 34.9% and employee costs at 4.3%. Standalone FY26 net sales of Rs 2,251.41 crore translated into consolidated revenue of Rs 2,172.59 crore and consolidated net profit of Rs 440.94 crore. The company has divested the capital assets of its Byrnihat unit and merged its wholly owned subsidiary Impex Metal & Ferro Alloys into itself, with NCLT Kolkata sanctioning the merger effective 30 June 2026. The Board approved an interim dividend of Rs 11 per share and recommended a final dividend of Rs 5 per share for FY26, on a face value of Rs 10. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Ferro Alloys (100%), Real Estate (0%). Cyclical, single-product ferro alloys manufacturer
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,992 | 2,885 | 1,729 | 1,806 | 2,173 |
| EBITDA (ex other income) | 1,068 | 484 | 114 | 177 | 259 |
| margin % | 35.7 | 16.8 | 6.6 | 9.8 | 11.9 |
| Owners' profit | 818 | 499 | 349 | 630 | 434 |
| EPS, as reported (₹) | 281.00 | 171.41 | 119.87 | 216.47 | 148.96 |
| ROE % · ROCE % | 35.2 · 46.0 | 17.8 · 22.4 | 11.1 · 14.0 | 16.8 · 21.8 | 10.6 · 14.9 |
| Debt / equity (x) | 0.00 | 0.01 | 0.01 | 0.16 | 0.06 |
| Cash from operations | 237 | 968 | (411) | 50 | (10) |
| Capex | (101) | (11) | (69) | (30) | (25) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 464 | 531 | 435 | 632 | 491 | 490 | 559 | 540 |
| Profit before tax | 217 | 114 | (54) | 696 | (141) | 122 | (72) | 498 |
| Net profit | 143 | 90 | (58) | 538 | (119) | 93 | (71) | 396 |
| EPS (₹) | 49.41 | 31.20 | (20.96) | 184.17 | (41.55) | 30.55 | (24.21) | 135.01 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INDIAN METALS & FERRO | 6,728 | 12.8 | 2.47 | 11.7 | 15.6 | 17.7 | 8.9 | 30.6 |
| MAITHAN ALLOYS LTD ◆ | 3,058 | 10.5 | 0.74 | 4.8 | 10.6 | 13.9 | 6.0 | 94.2 |
| NILACHAL CARBO METALICKS LIMIT | 328 | 31.2 | — | — | — | 11.2 | — | — |
| NAGPUR POWER & INDUSTRIES LTD. | 249 | 65.1 | 2.66 | 64.2 | (2.3) | (2.0) | 22.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Maithan Alloys acquires 0.65% stake in ESDS Software for Rs 113 Cr | strategic transactions | medium | — | — |
| 10 Sept 2026 · NSE rejects promoter reclassification application | ownership changes | medium | — | — |
| 10 Sept 2026 · Maithan Alloys buys 0.06% stake in ESDS Software Solution for Rs 10.83 Cr | strategic transactions | medium | — | — |
| 9 Sept 2026 · Maithan Alloys buys 0.33% stake in listed ESDS Software | strategic transactions | medium | — | — |
| 7 Sept 2026 · Maithan Alloys publishes notice of 41st AGM in newspapers | compliance | minimal | — | — |
| 5 Sept 2026 · 41st AGM agenda: proposed Rs 6 final dividend, board changes and Maithan Ferrous deals | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper publication of public notice for 41st AGM on 28 Sept 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · Response to NSE query on unusual trading volume | compliance | minimal | — | — |
| 2 Sept 2026 · NSE flags unusual volume rise; seeks clarification from Maithan Alloys | compliance | medium | — | — |
| 14 Aug 2026 · Newspaper publication of unaudited Q1 FY27 results for quarter ended June 30, 2026 | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 5.3 |
| INDSIL HYDRO POWER AND MANGANE | 110 | 12.4 | 0.56 | 5.8 | 7.6 | 7.2 | 19.9 | 15.3 |
| SHYAM CENTURY FERROUS LTD | 105 | 7.5 | 0.67 | 40.7 | 3.7 | 3.0 | — | 8.9 |
| Chrome Silicon Limited | 68 | 6.9 | 4.45 | — | (64.8) | (10.8) | — | — |
| FACOR ALLOYS LTD. | 58 | 3.9 | 0.67 | — | (17.2) | (23.0) | (60.0) | (977.9) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.5 | 11.5 | 4 of 8 | 57% |
| P/B | 0.7 | 0.7 | 4 of 7 | 50% |
| ROCE | 13.8 | 5.1 | 2 of 8 | 86% |
| ROE | 10.6 | 3.7 | 2 of 7 | 83% |
| Debt / Equity | 0.1 | 0.1 | 3 of 7 | 67% |
| EBITDA margin | 94.2 | 12.1 | 1 of 6 | 100% |
| Revenue growth | (14.7) | 49.7 | 5 of 7 | 33% |
| Profit growth | (26.4) | 96.7 | 5 of 7 | 33% |
| Market cap | 3058 | 179 | 2 of 8 | 86% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
