Indian Metals & Ferro
NSE: IMFA · Ferro & Silica Manganese · sector
₹1,082.60NSE close 2026-10-26
Key numbers
Market cap₹5,842 cr
Price₹1,082.60
52w high / low₹1,680 / ₹1,064
P/E11.1xSector median 7.0x
P/B2.1xSector median 1.4x
Book value₹503.6
Dividend yield0.93%Sector median 1.32%
ROE20.7%Sector median 7.3%
ROCE20.0%Sector median 10.1%
OPM23.6%Sector median 10.7%
Debt / equity0.34xSector median 0.13x
EV/EBITDA8.5xSector median 3.2x
Interest cover17.7x
Current ratio1.44x
Sales growth 3y+1.8%Sector median -9.0%
Profit growth 3y+23.4%Sector median -4.6%
PEG0.47x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Ferro & Silica Manganese (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹417 cr vs borrowings ₹924 cr (FY26): borrowings are higher by ₹507 cr.
- Operating profit covered interest 17.7x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 11% of net profit in the last 12 months.
- Debtor days went from 11 (FY24) to 31 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,082.60 on 2026-10-26: -35.6% from the 52-week high, +1.7% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,565.40 · low ₹571.90
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 692 | 643 | 567 | 642 | 719 | 703 | 763 | 960 |
| EBITDA | 170 | 128 | 71 | 125 | 138 | 164 | 159 | 281 |
| OPM % | 24.6% | 19.9% | 12.4% | 19.6% | 19.2% | 23.4% | 20.8% | 29.3% |
| Other income | 19 | 17 | 17 | 22 | 16 | 22 | 6 | 13 |
| Net profit | 125 | 93 | 47 | 92 | 97 | 131 | 103 | 192 |
| EPS (₹) | 23.17 | 17.30 | 8.77 | 17.10 | 18.07 | 24.33 | 19.13 | 35.65 |
| Revenue YoY | +3.9% | +9.3% | +34.6% | +49.7% | ||||
| Profit YoY | -22.0% | +40.9% | +118.1% | +108.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,603 | 2,676 | 2,780 | 2,565 | 2,826 | 3,145 |
| EBITDA | 810 | 473 | 587 | 530 | 587 | 743 |
| Net profit | 507 | 226 | 395 | 379 | 424 | 524 |
| EPS (₹) | 94.01 | 41.75 | 73.12 | 70.19 | 78.64 | 97.18 |
| Revenue growth | +2.8% | +3.9% | -7.8% | +10.2% | +23.6% | |
| Profit growth | -55.5% | +74.7% | -4.0% | +12.0% | +46.5% | |
| Dividend / share (₹) | 12.00 | 12.50 | 12.50 | 37.50 | 10.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +1.8% | +8.9% | +23.6% |
| Net profit | +23.4% | +20.5% | +46.5% |
| EPS | +23.5% | +5.0% | – |
| Share price | – | +28.5% (2y) | -1.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,873 | 2,120 | 2,348 | 2,718 |
| Borrowings | – | 321 | 168 | 373 | 924 |
| Cash & equivalents | – | 297 | 468 | 930 | 417 |
| Total assets | – | 2,654 | 2,832 | 3,177 | 4,317 |
| Fixed assets | – | 960 | 975 | 1,018 | 1,539 |
| Capital work in progress | – | 64 | 66 | 74 | 792 |
| Investments | – | 0 | 0 | 0 | 13 |
| Receivables | – | 86 | 85 | 113 | 239 |
| Inventory | – | 647 | 712 | 736 | 815 |
| Payables | – | 209 | 237 | 194 | 277 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 390 | 151 | 512 | 585 | 318 |
| Cash from investing | -106 | 140 | -209 | -562 | -753 |
| Cash from financing | -284 | -291 | -259 | -68 | 462 |
| Capex | 87 | 230 | 114 | 116 | 1,335 |
| Free cash flow | 303 | -79 | 399 | 470 | -1,017 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 12.1% | 18.6% | 16.1% | 15.6% |
| ROCE % | – | 17.8% | 24.1% | 19.9% | 16.2% |
| Debtor days | – | 12 | 11 | 16 | 31 |
| Inventory days | – | 162 | 177 | 264 | 283 |
| Payable days | – | 52 | 59 | 70 | 96 |
| Cash conversion cycle (days) | – | 122 | 129 | 210 | 218 |
| Working capital days | – | 114 | 133 | 173 | 67 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 58.69% |
| FIIs | 2.88% |
| DIIs | 0.84% |
| of which Mutual funds | 0.08% |
| Government | 0.00% |
| Public (non-institutions) | 37.60% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% |
| Promoter group | % |
|---|---|
| Subhrakant Panda, Trustee, B Panda Trust | 51.59% |
| BP Developers Private Ltd | 2.25% |
| Subhrakant Panda | 1.20% |
| Paramita Panda | 1.20% |
| Baijayant Panda | 1.20% |
| Nivedita Ganapathi | 1.20% |
| Subhrakant Panda, Managing Trustee, Shaisah Foundation | 0.05% |
| Public holders above 1% | % |
|---|---|
| Litec Company Limited | 12.77% |
| Mukul Mahavir Agrawal | 1.07% |
| Manisha Lodha | 1.03% |
53,271 shareholders. Pledged: 0.00% of promoter shares.
Peers in Ferro & Silica Manganese
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| IMFA | ₹5,842 cr | 11.1x | 2.1x | 20.7% | 20.0% | 23.6% | +1.8% | 0.93% |
| MAITHANALL | ₹2,222 cr | 7.7x | 0.5x | 7.4% | 10.1% | 13.7% | -9.0% | 1.71% |
| VISACHROME | ₹454 cr | 0.4x | – | – | 795.8% | 213.0% | -5.1% | – |
| NCML | ₹240 cr | 22.8x | 2.9x | 12.5% | 21.5% | 10.7% | – | – |
| NAGPI | ₹178 cr | 49.3x | 2.1x | -3.2% | 0.6% | -0.2% | – | – |
| SHYAMCENT | ₹99 cr | – | 0.6x | -3.6% | -5.4% | -166.4% | -50.2% | – |
| INDSILHYD | ₹88 cr | 6.3x | 0.4x | 7.3% | 7.2% | 9.3% | -5.0% | – |
| CHROME | ₹62 cr | 6.3x | 4.1x | -49.2% | -19.9% | -628.1% | -81.7% | – |
| FACORALL | ₹57 cr | 1.8x | 0.6x | 11.6% | 20.2% | 1,294.2% | -83.4% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Ferro Chrome | ₹2,824 cr | 73.7% | ₹611 cr | 21.6% |
| Power | ₹543 cr | 14.2% | ₹-4 cr | -0.7% |
| Mining | ₹461 cr | 12.0% | ₹0 cr | 0.0% |
| Others | ₹2 cr | 0.1% | ₹-5 cr | -238.5% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-31 | Dividend | Dividend - Rs 7.50 Per Share |
| 2025-11-11 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2025-07-25 | Dividend | Dividend - Rs 5 Per Share |
| 2025-02-05 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2024-11-14 | Dividend | Interim Dividend - Rs 10 Per Share |
| 2024-07-22 | Dividend | Annual General Meeting/Dividend - Rs 7.50 Per Share |
| 2024-04-08 | Dividend | Special Dividend - Rs 15 Per Share |
| 2023-11-10 | Dividend | Interim Dividend - Rs 7.50 Per Share |
| 2023-07-21 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2022-11-03 | Dividend | Interim Dividend- Rs 5 Per Share |
| 2022-07-21 | Dividend | Annual General Meeting/Dividend - Rs 7.50 Per Share |
| 2022-01-07 | Bonus | Bonus 1:1 |
| 2021-11-08 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2021-07-20 | Dividend | Annual General Meeting/Dividend - Rs 7 Per Share |
| 2021-02-17 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2020-09-15 | Other | Annual General Meeting |
| 2019-07-08 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2018-07-09 | Dividend | Annual General Meeting/Dividend Rs 10/- Per Share |
| 2018-03-28 | Dividend | Interim Dividend - Rs 5 Per Share (Record Date Updated) |
| 2017-07-07 | Dividend | Annual General Meeting/Dividend - Rs 10/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Metal and Metal Products
| Sector | Commodities |
| Industry | Ferro & Silica Manganese |
| Sub-industry | Ferro & Silica Manganese |
| Symbol | IMFA |
| BSE code | 533047 |
| ISIN | INE919H01018 |
| Face value | ₹10.0 |
| Incorporated | 1961-11-20 |
| Website | www.imfa.in |
| Plants (India / abroad) | 6 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.