Indian Metals & Ferro Alloys Ltd Company Summary

Indian Metals & Ferro Alloys Ltd Summary

Indian Metals & Ferro Alloys Limited (IMFA) established in November 20, 1961, is a leading, fully integrated producer of ferro chrome in India. Located in the State of Odisha known for its natural resources, the Company is Indias largest producer of ferro chrome with 190 MVA installed furnace capacity backed up by 204.55 MW captive power facilities and extensive chrome ore mining tracts. The Companys ferro chrome output is primarily exported to Korea, China, Japan and Taiwan.The Company operates two manufacturing units at Therubali and Choudwar in Odisha with a total production capacity of 284,000 TPA and a smelting capacity of 190 MVA. It also enjoys two captive mines (in Sukinda and Mahargiri) with a capacity of 6.51 lakh TPA. IMFA has captive power generation capacity of 204.55 MW and solar power capacity of 4.55 MW. During 2000-01, companys turnover has crossed the Rs.200 crore milestone for the first time despite adverse market conditions for its products which prevailed during the year.In 2005-06, the Company merged with ICCL through Composite Scheme of Arrangement & Amalgamation dated 13 October 2006, effective from 01st April, 2005. Pursuant to orders of the Honble High Courts of Andhra Pradesh and Orissa dated 6th November, 2009 and 24th November, 2009 respectively, the Ferro Alloys Division (FAD) of Utkal Manufacturing & Services Ltd (UMSL) got merged with the Company effective from 1st April 2009. The Company commissioned the 30 MW dual fuel power plant in August, 2011. It acquired 70% stake in an Indonesian coal mine Pt Sumber Rahayu Indah through its step-down subsidiary incorporated in Singapore in 2011-12. Utkal Green Energy Limited, a subsidiary of the Company which started its operation during the year 2011-12, has transferred its undertaking comprising of completed Fly AshBrick Plant; a Fly Ash Brick Plant under construction; a Light Weight Aggregate Plant under construction together with their respective assets & liabilities on a going concern basis to the Company. It commissioned the 3 MW solar power facility at Therubali in June, 2017.During the year 2018-19, Honble National Company Law Tribunal, Cuttack Bench passed an Order on 26th March, 2019, approving the Scheme of Amalgamation amongst Indian Metals & Carbide Limited (IMCL), B Panda and Company Private Limited (BPCO) with the Company, which became effective on 30 April, 2019.The Company established two captive mines, located in Sukinda and Mahagiri in Jajpur, Odisha as well as the capacity for thermal and solar power generation in 2023. In the first phase of expansion, Company has embarked upon a 100,000 MTPA Ferro Chrome Project in Kalinganagar in 2024.