Jainam Ferro Alloys (I) Ltd Management Discussions

The Ferro Alloys industry, a crucial upstream segment of the global steel value chain, is undergoing a period of transformation shaped by evolving demand patterns, sustainability imperatives, technological modernization, and shifting geopolitical dynamics. This Management Discussion and Analysis Report provides a comprehensive overview of the current state, challenges, and opportunities within the global and Indian Ferro Alloys markets, focusing on key developments in 2024 and the strategic outlook through 2030.

Global Market Snapshot (2025)

In 2025, the global Ferro Alloys market is estimated to be valued between USD 59.5 billion and USD 72.1 billion, depending on methodology and market segmentation. It is projected to grow at a compound annual growth rate (CAGR) between 3.8% and 7.3% through 2030–2033. Key drivers include increased steel consumption in infrastructure, automotive, and renewable energy sectors; robust demand from the Asia-Pacific region (especially China and India); and the rapid expansion of electric vehicle (EV) production.

India: Rising but Facing Structural Challenges

Indias Ferro Alloys market, currently valued at approximately USD 4.7 billion (2024), is projected to more than double to USD 10 billion by 2033, driven by strong domestic steel production, export potential, and infrastructure investment. However, the sector faces several critical constraints—high power costs, logistical inefficiencies, raw material dependency, and tariff-related issues, particularly on manganese ore imports. The industry also remains fragmented, with numerous mid-sized and unorganized players facing difficulties in achieving scale and technological upgrades.

Technological Advancements and Sustainability Shifts

Globally, producers are embracing energy-efficient electric arc furnaces, AI-enabled production monitoring, and low-carbon manufacturing practices. Recycling of Ferro Alloys and utilization of waste heat recovery systems are also gaining traction. India is gradually moving toward greener production models, though the transition remains capital-intensive and uneven across players.

Segment Focus: Ferro Manganese and Silico Manganese

Among the different segments, Ferro Manganese and Silico Manganese continue to dominate global volume demand, particularly for their indispensable role in steel deoxidation and alloying. India is among the leading producers and exporters of manganese-based alloys but remains vulnerable to raw material import dependencies and price volatility.

Competitive Landscape

The global Ferro Alloys space is moderately consolidated, led by major players such as Glencore, Eurasian Resources Group, Ferroglobe, and China Minmetals. In India, Tata Steel, IMFA, and MOIL remain prominent. Innovation, ESG compliance, and vertical integration are emerging as key differentiators in gaining competitive advantage.

2024 Retrospective: Key Challenges

The year 2024 was marked by several headwinds for the industry, including:

- Raw material shortages and supply chain disruptions due to geopolitical instability;

- Increased energy tariffs and environmental levies;

- Stiff price competition from Chinese exporters;

- Regulatory uncertainty on carbon emissions and import duties.

Outlook (2025–2030): Growth with Strategic Reorientation

- Decarbonization of production processes aligned with global ESG mandates and the EUs

Carbon Border Adjustment Mechanism (CBAM);

- Adoption of smart manufacturing technologies to reduce waste and improve cost efficiency;

- Strategic sourcing of key inputs and backward integration to reduce import dependencies;

- Government support policies, particularly in India, aimed at boosting domestic manufacturing and renewable energy integration.

Conclusion

In conclusion, the Ferro Alloys industry in 2025 stands at a pivotal point. While market fundamentals remain strong—anchored in the continuing rise of global steel demand—the industry must recalibrate its strategies to address energy intensity, resource scarcity, and environmental compliance. For India, in particular, the coming decade offers both a significant growth opportunity and a policy-led imperative to modernize and consolidate a highly fragmented sector.

This report delves deeper into the key trends, risks, technological shifts, and strategic outlook across each segment of the industry.

2. Introduction & Scope

2.1 Introduction

Ferro Alloys are critical inputs in the production of various grades of steel, acting as deoxidizers agents, and alloying elements. The global Ferro Alloys industry is intricately tied to the steel manufacturing ecosystem and, by extension, to sectors such as construction, automotive, shipbuilding, railways, and renewable energy. As the steel industry evolves to meet changing technological and environmental demands, the Ferro Alloys sector is undergoing its own transformation—marked by digitization, decarbonization, and global shifts in supply chains.

India is one of the largest producers and exporters of Ferro Alloys, particularly manganese-based alloys. However, the Indian industry is also navigating a complex matrix of challenges, including high input costs, dependence on imported raw materials, volatile global pricing, and growing pressure to adopt sustainable practices.

This Management Discussion and Analysis (MD&A) Report provides a comprehensive examination of the current state, trends, and outlook for the Ferro Alloys sector as of 2025. It places special emphasis on both global market dynamics and the Indian industrys strategic position, including insights into key challenges faced in 2024 and expectations for the future (2025–2030).

2.2 Objectives of the Report

This MD&A report aims to:

- Present a thorough analysis of the global and Indian Ferro Alloys markets as of 2025.

- Examine market trends, technological developments, and sustainability drivers impacting production and competitiveness.

- Highlight key challenges encountered by the Indian Ferro Alloys industry in 2024.

- Provide in-depth segment insights, particularly in Ferro Manganese and Silico Manganese.

- Profile key market players, their competitive strategies, and innovations.

- Offer a strategic outlook for 2025–2030, identifying growth opportunities and critical action areas.

- Serve as a reference for industry stakeholders, investors, policymakers, and manufacturers seeking to navigate a rapidly changing industrial landscape.

2.3 Scope of Analysis

This report covers:

Dimension Details

Geography Global markets with specific focus on India, China, Europe, and ASEAN

Timeframe Retrospective: 2024; Current State: 2025; Outlook: 2025–2030

Product Segments Ferro Manganese, Silico Manganese, Ferro Chrome, Ferro Silicon, others Key Topics Market trends, production technologies, challenges, policy impact, ESG Industry Players Global majors (e.g., Glencore, ERG), Indian players (e.g., Tata, IMFA, MOIL) Applications Steel manufacturing, automotive, infrastructure, energy, defense, others

2.4 Methodology

The findings and insights in this report are based on:

- Secondary research from global market intelligence reports, industry associations, and government publications;

- Financial and operational disclosures of leading industry players;

- Policy and regulatory reviews from India and other key economies;

- Select industry interviews and case studies, where applicable;

- Data modeling and forecasts using conservative, baseline, and optimistic market growth scenarios.

2.5 Limitations

While this report seeks to present a well-rounded analysis, it is important to note the following limitations:

- Market data from 2025 is based on projections and available disclosures as of Q3 2025, which may be revised.

- Technological advancements and ESG adoption vary significantly by geography and company size.

- Geopolitical disruptions, policy changes, or commodity price volatility may alter market behavior in ways not fully captured in this report.

Conclusion

This section establishes the foundation for deeper analysis across the subsequent chapters. The following sections will explore the current global market environment, emerging trends, and technological transformations that are redefining the Ferro Alloys industry. Special attention will be given to Indias strategic position, where opportunity and challenge exist in equal measure.

3. Global Ferro Alloys Industry Overview (2025)

3.1 Industry Definition and Importance

Ferro Alloys are iron-based alloys that contain a significant proportion of one or more other elements such as manganese, silicon, chromium, or molybdenum. These alloys are primarily used in steelmaking as:

- Deoxidizing agents

- Alloying elements for strength, corrosion resistance, and durability

- Grain refiners to enhance mechanical properties

Without Ferro Alloys, the production of high-performance steels used in construction, automotive, aerospace, railways, and defense would not be possible. As such, the industrys performance is closely linked to global steel production trends.

3.2 Global Market Size and Growth Trends (2024–2025)

The global Ferro Alloys market continues to experience steady expansion, primarily driven by:

- Increased steel consumption

- Rising urbanization and industrialization

- Expanding automotive and renewable energy sectors

- Enhanced infrastructure spending in emerging economies

Key Market Estimates:

Source	2024 Estimate (USD Billion)	2025 Forecast	2030–2033 Forecast	CAGR (2024– 2033)
24ChemicalResearch.com	$72.14 B	~$75 B	$93.57 B by 2032	~3.8%
Cognitive Market Research	$56–59.5 B	$63–65 B	$98.47 B by 2033	~6.5%
Data Horizzon Research	$45.8 B (2023)	~$60 B	$92.7 B by 2033	~7.3%

Note: Estimates vary based on included product types (e.g., bulk vs. noble Ferro Alloys), geographic scope, and currency valuation.

3.3 Regional Market Distribution (2025)

1. Asia-Pacific (APAC) – Market Leader (~65% Market Share)

- China remains the worlds largest consumer and producer.

- India has emerged as a major export hub for manganese-based alloys.

- Growth fueled by infrastructure investments and strong domestic steel demand.

2. Europe – Driven by Green Steel Transition

- Demand for low-carbon Ferro Alloys rising due to EUs decarbonization regulations (e.g.,CBAM).

- Production is under pressure due to high energy costs and environmental restrictions.

3. North America – Stable Demand

- Moderate growth from construction, defense, and automotive sectors.

- High imports from Brazil, South Africa, and India to meet local demand.

4. Latin America, Middle East & Africa – Emerging Markets

- South Africa is a key exporter of chromite and manganese ores.

- Brazil and UAE investing in steel and alloy production capacity.

3.4 Product Segment Overview

Ferro Alloy Type	Usage	Key Markets
Ferro Manganese (FeMn)	Strengthening and deoxidation in steel	India, China, Brazil
Silico Manganese (SiMn)	Combined deoxidizer and alloying agent	India, Europe, Southeast Asia
Ferro Chrome (FeCr)	Stainless steel production	China, South Africa, Kazakhstan
Ferro Silicon (FeSi)	Electrical steels and magnetic applications	Japan, Europe, South Korea
Others (FeMo, FeNi, FeV)	Specialty steels, aerospace, and tools	Europe, North America

3.5 Demand Drivers (2025)

- Steel Production Growth: Global steel output projected to reach ~1.9 billion tons in 2025.

- Urbanization & Infrastructure: $1.5+ trillion in planned infrastructure in APAC alone.

- Electric Vehicles & Clean Energy: Use of high-strength and corrosion-resistant steels.

- Defense & Aerospace: High-performance alloys for advanced manufacturing.

- Green Construction Materials: Specialty steels for sustainable buildings.

3.6 Supply Chain and Trade Dynamics

- China: Dominates in both production and exports, though facing increasing scrutiny on emissions.

- India: Gaining market share in silico manganese and ferro manganese exports.

- South Africa: A global leader in chromite ore but facing operational constraints.

- Russia & Ukraine Conflict: Continued disruption in ferroalloy supply, especially FeSi and FeCr.

3.7 Current Trends Shaping the Industry

- Supply Diversification: Shift away from overdependence on China for strategic alloys.

- Energy Efficiency Mandates: Global pressure to reduce carbon footprint in production.

- Digitalization: Smart plants using AI/ML for predictive maintenance and energy optimization.

- Circular Economy: Increasing use of recycled scrap and ferroalloy recovery from slags.

- Trade Regulations: CBAM (Carbon Border Adjustment Mechanism) to impact exports to EU.

3.8 Summary Insights

- The global Ferro Alloys industry is set for moderate to strong growth, depending on product mix and regional focus.

- Asia-Pacific continues to dominate production and consumption, while Europe and North America drive sustainability and specialty alloy trends.

- The industrys future is increasingly tied to its ability to adapt to green regulations, supply chain risks, and technological disruption.

4. Global Market Trends & Drivers

The Ferro Alloys industry, traditionally linked to the cyclical nature of steel production, is experiencing a structural shift driven by a new generation of industrial, technological, and environmental imperatives. While steel demand remains the fundamental driver, four transformational forces—sustainability, digitalization, geopolitical realignment, and supply chain restructuring—are reshaping global Ferro Alloys production and consumption trends as of 2025.

4.1 Key Global Trends (2025)

1. Green Steel Movement and ESG Pressures

- Carbon neutrality goals adopted by major economies and steel producers (e.g., EU, Japan, Korea, ArcelorMittal, POSCO) are creating demand for low-emission Ferro Alloys.

- EUs Carbon Border Adjustment Mechanism (CBAM), to be fully implemented by 2026, will require exporters to disclose embedded carbon emissions in alloys, impacting producers in China, India, and Brazil.

- Renewable energy integration in alloy manufacturing (e.g., solar-powered furnaces, hydro- based smelters) is gaining ground.

zExample: Tata Steels Ferro Alloys division has initiated trials on low-carbon ferrochrome production using hydrogen blends and biochar.

2. Rising Demand from Infrastructure & Construction

- Global infrastructure investment is rebounding post-COVID, particularly in Asia-Pacific, Africa, and Latin America.

- Use of high-strength and specialty steels in bridges, high-speed rail, green buildings, and EV charging stations is driving demand for:

o Silico Manganese (SiMn)

o Ferro Manganese (FeMn)

o Ferro Silicon (FeSi)

APAC is expected to account for ~65% of all new infrastructure-related steel demand by 2030.

3. Shift Toward Specialty & High-Purity Ferro Alloys

- Demand for low-carbon, high-purity alloys is increasing due to growth in:

o Electric Vehicles (EVs)

o Defense and Aerospace

o Renewable energy infrastructure (e.g., wind turbines, solar panels)

- Alloys like ultra-low carbon ferrochrome (ULCFeCr) and noble alloys (FeV, FeMo) are commanding premium prices.

# ?/ The specialty/noble Ferro Alloys segment is expected to grow at ~8.2% CAGR (2024–2030), faster than bulk alloys.

4. Digital Transformation and Smart Production

- Leading producers are investing in:

o AI-based process controls for improved furnace efficiency.

o Real-time monitoring and predictive maintenance to reduce unplanned downtime by 25–30%.

o Digital twins for simulation and energy optimization.

- Automation is improving yield, lowering energy usage (~10–15% in pilot cases), and enhancing safety.

- South Korea, Germany, and select Indian plants (e.g., Balasore Alloys) have adopted AI-driven energy management systems.

5. Circular Economy & Recycling

- Growing trend toward recovery and reuse of Ferro Alloys from slags, steel scrap, and spent catalysts.

- Alloy recycling now contributes to ~7% of global supply, expected to reach 10–12% by 2030.

- Regulatory incentives are promoting closed-loop systems, especially in Europe and Japan.

, Use of secondary alloys reduces GHG emissions by 30–40% compared to virgin ore-based production.

6. Geopolitical Risks and Trade Realignments

- Continued uncertainty due to:

o Russia-Ukraine war

o Resource nationalism (e.g., Indonesias nickel export bans)

o Tariff imbalances (e.g., Indias 2.5% import duty on manganese ore)

- Push for supply chain diversification and regional self-sufficiency in critical raw materials.

- Strategic alliances forming to secure access to manganese, chromium, and rare-earth minerals.

- India and Australia have recently signed MoUs on strategic mineral cooperation.

4.2 Key Market Drivers Driver	Impact
Steel Industry Growth	Sustained global steel demand (esp. in APAC) underpins stable demand for alloys
Green Regulations (e.g., CBAM)	Forces decarbonization and cleaner production of ferroalloys
EV & Battery Industry	Specialty steels with specific alloy compositions are crucial for EV architecture
Automation & AI Adoption	Drives efficiency, safety, and cost reductions in production
Government Infrastructure Spending	Large-scale projects boost demand for construction-grade steel and associated alloys
Energy Cost Optimization	Push toward captive power and energy-efficient furnaces in energy- intensive industry

4.3 Challenges (Counterbalancing Factors)

Despite positive trends, several global challenges persist:

Challenge Impact

Raw Material Price Volatility Cost instability for manganese, chrome, and silicon ores High Power Tariffs Affects cost competitiveness in energy-intensive processes Environmental Compliance Costs Capital-intensive upgrades needed to meet new standards Fragmented Supply Chain Small/mid-size players face difficulty in scaling Overcapacity in China Creates downward pressure on alloy prices globally

4.4 Summary Insights

- The convergence of sustainability, technology, and policy pressures is reshaping the Ferro Alloys landscape.

- Producers that can embrace digitalization, diversify supply chains, and align with ESG frameworks will be best positioned for long-term competitiveness.

- As demand shifts toward specialty and green alloys, there is a clear opportunity for innovation- driven players to differentiate and grow.

5. Technological Advancements in Production Processes

The Ferro Alloys industry, traditionally reliant on energy-intensive and resource-heavy processes, is now at the forefront of industrial transformation. Driven by a need to improve efficiency, reduce environmental impact, and enhance product quality, leading manufacturers across the globe are adopting advanced technologies to modernize their production capabilities.

This section outlines the key technological advancements shaping the production of Ferro Alloys in 2025 and beyond.

5.1 Overview of Conventional Production Processes

Historically, Ferro Alloys are produced through pyrometallurgical methods, primarily involving:

- Submerged Arc Furnaces (SAF): Used for high-volume production (e.g., Ferro Manganese, Silico Manganese).

- Electric Arc Furnaces (EAF): Preferred for cleaner operations and specific alloys.

- Blast Furnaces (less common): In older or smaller facilities.

These processes are energy-intensive, require precise control of temperatures (up to 1600?C), and emit significant amounts of CO2, NO?, SO2, and particulate matter.

5.2 Current Technological Innovations (2025)

1. Energy-Efficient Furnaces

- Introduction of pre-heated feed systems and plasma arc furnaces.

- Use of DC furnaces in place of traditional AC systems for improved energy utilization.

- Variable Frequency Drives (VFDs) and automated electrode regulation reduce electricity consumption by up to 15–20%.

) Example: IMFA (India) and Outokumpu (Finland) report 10–12% energy savings using hybrid furnace systems.

2. Waste Heat Recovery Systems (WHRS)

- Captures heat from flue gases to generate steam and electricity, reducing external power dependency.

- Improves thermal efficiency of plants and contributes to GHG reduction.

- A mid-size alloy plant can save 8–10 MW of energy per hour through effective WHRS deployment.

3. Automation & Industry 4.0 Integration

- SCADA systems (Supervisory Control and Data Acquisition) for real-time monitoring of furnace parameters.

- AI/ML algorithms used for:

o Predictive maintenance

o Yield optimization

o Energy load balancing

- Digital twins allow simulation of production scenarios for decision-making.

?C* Korean and German alloy manufacturers use predictive analytics to reduce electrode breakages and improve throughput.

4. Low-Carbon & Alternative Reductants

- Shift from coke-based reduction to biochar, hydrogen, and natural gas in experimental phases.

- Increased use of non-coking coal blends and recycled carbon sources.

- These methods aim to cut CO2 emissions by 20–40% in pilot operations.

- Tata Steels Ferro Alloys Division has initiated hydrogen-based reduction trials in select locations.

5. Enhanced Ore Beneficiation & Sintering

- Use of advanced beneficiation techniques like:

o Dense media separation (DMS)

o High-intensity magnetic separators

o Sensor-based ore sorting

- Improves ore quality, reduces slag volume, and lowers reagent use.

MOIL (India) has developed a high-yield manganese ore enrichment process to boost downstream productivity.

6. Sustainable Water & Waste Management

- Zero Liquid Discharge (ZLD) systems in modern plants.

- Dry dust suppression and scrubber systems reduce particulate emissions.

- Slag from production increasingly reused in construction aggregates, road base, and cement industry.

5.3 Digital Transformation Case Study – Ferroglobe PLC

Ferroglobe, a leading global ferroalloy producer, has implemented a fully integrated AI-driven production monitoring system across its European plants:

- Outcome: 14% reduction in energy use per ton of FeSi.

- Other benefits:

o 25% reduction in unplanned downtime.

o Enhanced compliance with EU emission norms.

This case highlights how digital manufacturing technologies can offer tangible productivity and compliance benefits.

5.4 Technology Adoption in India – Status & Gaps

Aspect Status in Indian Industry (2025)

Energy-efficient furnaces Partially adopted; more prevalent among large, organized players AI/ML integration Early-stage adoption; limited to pilot plants

Waste heat recovery Growing interest but underutilized, especially among SME units Hydrogen-based reduction Still experimental; cost and infrastructure challenges persist Advanced ore beneficiation Adopted by players like MOIL, Tata Steel

Environmental compliance tech Improving, but regulatory enforcement varies by state and plant size

5.5 Future Technological Outlook (2025–2030)

Trend Expected Impact

Full automation and robotics Safer operations, fewer labor-intensive tasks

Green hydrogen in alloy making Radical CO2 emissions reduction (long-term potential)

IoT-enabled real-time diagnostics Optimized energy consumption, predictive failure detection

Blockchain in supply chain traceability Enhanced ESG compliance and transparency

Recycling-based alloy production Cost and emissions savings; new business models emerging

5.6 Summary Insights

- Technological innovation is no longer optional—its a strategic necessity.

- Investments in energy efficiency, automation, and green production are now essential to comply with evolving global ESG norms and remain cost competitive.

- While global leaders are moving aggressively into Industry 4.0 territory, Indian producers— especially SMEs—must accelerate adoption to remain viable exporters in a regulated, climate- conscious global marketplace.

6. Indian Ferro Alloys Industry: Current Landscape & Challenges (2025)

6.1 Overview of the Indian Ferro Alloys Sector

India is one of the top producers and exporters of Ferro Alloys globally, with a dominant position in Silico Manganese and Ferro Manganese production. The Indian Ferro Alloys industry is closely linked to the domestic steel sector—currently the second-largest steel producer in the world—and also plays a significant role in export markets, particularly Southeast Asia, Europe, and the Middle East.

As of 2025, the Indian Ferro Alloys industry contributes approximately:

- USD 4.7–5.2 billion to the national economy,

- Employs over 100,000 workers (direct and indirect),

- Comprises >400 small, medium, and large units, concentrated in Odisha, Chhattisgarh, Andhra Pradesh, Telangana, and West Bengal.

Despite robust demand, the sector faces significant structural and operational challenges, limiting its global competitiveness.

6.2 Production Capacity and Utilization Parameter	Estimated Value (2025)
Installed production capacity	~6.5 million metric tons/year
Current capacity utilization	65–72% (varies widely by region and unit size)
Major alloy types	Silico Manganese, Ferro Manganese, Ferro Chrome, Ferro Silicon
Major producing states	Odisha, Chhattisgarh, Andhra Pradesh, Telangana

India continues to be cost-competitive in labor and ore beneficiation, but suffers from high input costs, especially electricity, which erodes profitability—particularly for smaller players.

6.3 Key Challenges Facing the Industry (2024–2025)

1. High Power Costs

- Ferro Alloys is a power-intensive industry, consuming 3,500–6,000 kWh per ton of alloy.

- In states like Maharashtra and Telangana, industrial power tariffs exceed ?7–8/unit, while global competitors like South Africa and China enjoy subsidized or captive power at much lower rates.

- This makes Indian alloys 15–25% costlier in export markets.

Several small and medium-scale plants have shut down or are operating below capacity due to unsustainable power bills.

2. Raw Material Dependency and Price Volatility

- India imports ~40% of its manganese ore and significant amounts of metallurgical coke and

chrome ore.

- Volatile prices and logistical delays from key suppliers (e.g., South Africa, Australia) disrupt production planning.

- Dependence on a few suppliers leaves the industry vulnerable to geopolitical risks and price shocks.

In Q2 2024, manganese ore prices surged by 28% due to supply disruptions in South Africa, impacting Indian producers margins.

3. Regulatory Uncertainty and Import Duties

- The Indian government imposes 2.5% import duty on manganese ore, despite local scarcity.

- Lack of a uniform policy framework on mining, logistics, and carbon compliance creates business uncertainty.

- The absence of export incentives (MEIS discontinued) has reduced margin competitiveness for alloy exporters.

4. Fragmented Industry Structure

- Over 60% of the industry is unorganized or semi-organized, lacking the scale and resources to:

o Modernize equipment

o Comply with ESG standards

o Negotiate long-term power or ore contracts

- Economies of scale are limited, leading to inconsistent quality, productivity, and pricing.

5. Environmental & Compliance Pressure

- New emission norms by CPCB and state pollution boards require installation of:

o Dry fog dust suppression systems

o Effluent treatment plants

o Continuous emission monitoring systems (CEMS)

- Compliance costs are high (~?15–20 crore for a mid-size plant), making it difficult for MSMEs to comply without external support.

As of 2025, <40% of alloy units in India are fully compliant with emission and wastewater norms.

6. Logistics and Infrastructure Bottlenecks

- Inefficient railway freight, port congestion, and high last-mile costs make exports from interior regions (like central India) less competitive.

- Many units lack access to multi-modal logistics hubs or captive port facilities.

- This leads to inventory pileups, higher working capital requirements, and missed export deadlines.

7. Limited R&D and Technology Adoption

- Minimal investment in:

o AI/IoT-based process controls

o Alternative reductants (hydrogen, biochar)

o Ore recovery and recycling

- Domestic innovation remains low, with most technologies being imported or adapted post-facto from global benchmarks.

6.4 SWOT Analysis – Indian Ferro Alloys Industry (2025)

Strengths	Weaknesses
Abundant labor and domestic ore reserves	High energy costs and raw material import dependency
Strategic location for exports (APAC access)	Fragmented, undercapitalized sector structure
Established supply chain for manganese alloys	Limited R&D and automation adoption
Growing domestic steel demand	Inconsistent environmental compliance and policy gaps
Opportunities	Threats
Green steel transition (ESG-aligned products)	Cheaper imports from China, Malaysia, Indonesia
MoUs for critical mineral access (e.g., Australia, Brazil)	Increasing trade barriers (e.g., CBAM in EU)
Technological leapfrogging via joint ventures	Global overcapacity and price volatility
Public-private partnerships in infrastructure/logistics	Export decline due to lack of trade incentives

6.5 Policy Recommendations and Industry Needs

To overcome current challenges, the Indian Ferro Alloys industry requires targeted interventions:

Need	Proposed Solutions
Power cost rationalization	Industrial tariff subsidy, open access to renewables, tax waivers
Raw material security	Long-term import agreements, overseas mining asset acquisition
Technology modernization	Capital subsidies for digitalization, R&D grants for cleaner production
Export competitiveness	Reinstatement of export incentives or sector-specific schemes
Compliance support for MSMEs	Centralized waste management, shared emission control infrastructure
Infrastructure development	Investment in port linkages, dedicated freight corridors

6.6 Summary Insights

- The Indian Ferro Alloys sector, while strategically important, is at a critical juncture.

- Despite its strong production base and export potential, cost pressures, supply chain vulnerabilities, and policy fragmentation threaten its global standing.

- To unlock its full potential, India must pivot toward technological modernization, sustainable practices, and policy-driven support mechanisms.

7. Market Segment Insights: Focus on Ferro & Silico Manganese (India & Global)

Ferro Manganese (FeMn) and Silico Manganese (SiMn) are among the most critical and widely consumed ferroalloys in global steelmaking. As of 2025, these two segments together account for over 60–65% of global ferroalloy consumption by volume. Their demand is directly linked to carbon and alloy steel production, especially in construction, automotive, infrastructure, and energy-intensive industries.

India holds a dominant position in the global Silico Manganese export market, while also being a major consumer due to its growing domestic steel demand.

7.1 Overview of Ferro Manganese (FeMn) Definition and Grades

Ferro Manganese is an alloy of iron and manganese, typically available in two grades:

- High Carbon FeMn (76–80% Mn) – Common in standard carbon steel production.

- Medium and Low Carbon FeMn (75–80% Mn) – Used in alloy and special steels.

Applications

- Deoxidizer in steel production.

- Enhances toughness, hardness, and wear resistance of steel.

- Used in foundries and the manufacture of rail tracks, pipelines, and heavy machinery.

7.2 Overview of Silico Manganese (SiMn) Definition and Composition

Silico Manganese is an alloy of manganese, silicon, and iron, typically containing:

- 60–70% Mn,

- 12–18% Si,

- Rest: Carbon, phosphorus, and iron. Applications

- Acts as both deoxidizer and alloying agent.

- Preferred for carbon and low-alloy steels.

- Improves steel strength, elasticity, and resistance to abrasion and corrosion.

- Used in structural steels, rebar, and specialty construction materials.

7.3 Global Market Insights (2025) Global Demand Overview Alloy Type	2025 Global Demand Estimate	CAGR (2024– 2030)	Top Consuming Regions
Ferro Manganese	~6.2 million MT	~3.2%	China, India, EU, USA
Silico Manganese	~9.5 million MT	~4.1%	China, India, Southeast Asia, GCC

Top Producers

- China: Largest global producer for both FeMn and SiMn.

- India: Second-largest producer, especially in Silico Manganese.

- Ukraine, South Africa, Malaysia: Also key contributors.

Export Destinations

India exports Silico Manganese to:

- Europe (Germany, Italy, Spain)

- Middle East

- Japan and South Korea

- Southeast Asia (Vietnam, Thailand, Philippines)

- India accounted for approximately 17–20% of global SiMn exports in 2024.

7.4 Indian Market Overview (2025) Domestic Demand & Production Segment	Estimated Domestic Demand (2025)	Estimated Production	Capacity Utilization
Ferro Manganese	~1.8–2.0 million MT	~2.2 million MT	~75–80%
Silico Manganese	~3.5–3.8 million MT	~4.5 million MT	~70–75%

Indias Eastern belt—Odisha, Chhattisgarh, and Andhra Pradesh—accounts for over 80% of totalmanganese alloy production.

Key Players in India

- Tata Steel Ferro Alloys & Minerals Division

- MOIL (Manganese Ore India Ltd.)

- IMFA (Indian Metals & Ferro Alloys)

- Balasore Alloys

- Shyam Ferro Alloys

- Rungta Mines Ltd.

7.5 Price Trends (2024–2025)

Alloy Type	Avg. Global Price (2024)	Q2 2025 Trend	Factors Influencing Price
Ferro Manganese	$950–1,050/MT	Slight increase	Raw material (Mn ore) cost, power tariffs, demand
Silico Manganese	$900–980/MT	Slight decline	Export oversupply from India, freight fluctuations

Prices remain volatile due to raw material availability, especially manganese ore from South Africa and Gabon.

7.6 Key Market Trends

Rising Demand for Low-Carbon Ferro Alloys

- Automotive and green infrastructure sectors are demanding low-carbon SiMn and FeMn.

- EU buyers increasingly require sustainability certifications and carbon disclosure for imported alloys.

Backward Integration Initiatives

- Indian companies are investing in captive manganese ore mines to reduce import dependency.

- Some players exploring overseas acquisitions in Africa and Latin America.

Export Market Realignment

- Indias focus is shifting toward non-EU markets (Southeast Asia, Middle East) due to CBAM pressure.

- Export competitiveness still hampered by freight costs and quality standardization issues.

Technology & Automation

- Select producers are adopting furnace automation, electrode optimization, and AI-based process control.

- However, adoption remains limited to larger organized players.

7.7 Challenges in Ferro & Silico Manganese Segments Challenge	Impact
Manganese ore import dependency	Exposure to price shocks, shipping delays
High electricity costs	Reduced profitability, especially for smaller players
Limited R&D	Low innovation in product differentiation
Environmental compliance	Capex burden on MSMEs to meet emission norms
Global competition	Price undercutting by Malaysia, China, and Indonesia

7.8 Future Outlook (2025–2030)

Ferro & Silico Manganese Segment Forecast Parameter Outlook

Demand growth 4–5% CAGR globally; 5.5–6% in India driven by construction & infra Price trend Moderately bullish (demand-led), barring raw material volatility Export potential Strong if India can meet low-carbon, high-quality product benchmarks Tech & ESG adoption Will differentiate leading producers from legacy manufacturers Silico Manganese, due to its dual functionality and growing demand in clean infrastructure, will likely remain Indias flagship ferroalloy export in the next decade.

7.9 Summary Insights

- Ferro and Silico Manganese continue to anchor both Indian and global ferroalloy markets.

- India enjoys a cost and scale advantage, but must address energy inefficiencies, raw material vulnerabilities, and ESG compliance gaps to stay competitive.

- Global growth opportunities exist, especially in Asia, Africa, and the Middle East, but success will depend on:

o Innovation in product quality

o Strategic ore security

o Proactive environmental and trade compliance

JAINAM

FERRO ALLOYS (I) LTD.

8. Key Players & Competitive Landscape

The global Ferro Alloys market is characterized by a mix of large multinational corporations, regional producers, and small-to-medium enterprises (SMEs). The competitive landscape varies significantly by alloy type, geography, and technological capability.

In 2025, the market continues to be moderately fragmented, with the top 10 players controlling ~35– 40% of global production capacity. Consolidation trends are underway, particularly in regions with rising ESG compliance costs and technology investment requirements.

8.1 Global Key Players (2025)

Here are the most influential global companies in the Ferro Alloys space:

Company	Headquarters	Specialization	Key Strengths
Glencore	Switzerland	Ferrochrome, FeMn	Large resource base, vertical integration
Eramet Group	France	Manganese alloys	Global mining presence, strong in Europe & Africa
Ferroglobe PLC	UK/Spain/USA	FeSi, FeMn, SiMn	Technological innovation, global footprint
OM Holdings Ltd.	Singapore	Manganese alloys	Strong presence in Asia-Pacific, Malaysian operations
Assmang Ltd.	South Africa	FeMn, SiMn	High-grade manganese ore reserves
TNC Kazchrome	Kazakhstan	High-carbon ferrochrome	Large-scale production, major supplier to Asia & EU
Nikopol Ferroalloy Plant	Ukraine	FeMn, FeSi	Strategic EU proximity, impacted by war-related risks
Jindal Stainless Ltd.	India	FeCr (Captive)	Stainless steel integration, backward linkage

8.2 Leading Indian Players (2025)

India is home to several well-established ferroalloy producers, ranging from integrated steel players to standalone alloy manufacturers.

Company	Specialty Alloys	Key Capabilities
Tata Steel (FAMD)	FeMn, SiMn, FeCr	Integrated value chain, R&D focus, ESG-aligned operations
MOIL (Manganese Ore India Ltd.)	Mn ore, FeMn	Govt. support, resource security, plans to expand downstream
Balasore Alloys	FeCr, FeMn	Strategic location (Odisha), export focus
Shyam Ferro Alloys	FeMn, SiMn	Medium-scale player with pan-India supply network
Indian Metals & Ferro Alloys (IMFA)	FeCr	Power self-sufficiency, R&D investments
Rungta Mines Ltd.	FeMn, SiMn	Strong raw material base, expanding capacity
Maithan Alloys Ltd.	SiMn, FeMn	Export-driven, diversified client base
Rohit Ferro-Tech Ltd.	FeCr, FeMn	Facing restructuring, previously strong in ferrochrome

8.3 Competitive Advantages of Market Leaders

Vertical Integration

- Firms like Glencore, Tata Steel, and IMFA benefit from captive mines and power, reducing input cost volatility.

Geographic Diversification

- Companies like Ferroglobe and Eramet operate globally, minimizing country-specific regulatory and logistics risks.

Technological Edge

- Leaders are investing in energy-efficient furnaces, automation, and low-carbon production methods to meet ESG expectations and reduce operational costs.

Brand Reliability

- Premium consumers (e.g., European steelmakers) prefer large producers with consistent quality, traceability, and regulatory compliance.

8.4 Key Competitive Factors in 2025

Factor Impact on Competitiveness

Cost of production Access to cheap power, captive mines, and scale create advantage

Product quality & consistency Buyers increasingly require certified, traceable alloy quality ESG compliance Key to accessing EU, Japan, and premium markets Technological advancement Determines energy efficiency, emissions, and product flexibility Customer relationships Long-term supply contracts reduce exposure to price volatility Export logistics Strategic port access and freight contracts lower delivery costs

8.5 Market Share Dynamics Global Share by Region (Est. 2025):

- Asia-Pacific: ~67%

- Europe: ~14%

- North America: ~8%

- Rest of World: ~11%

Market Share by Alloy Type (Est. 2025): Alloy Market Share (By Volume) Silico Manganese ~37%

Ferro Manganese ~28% Ferro Chrome ~20% Ferro Silicon ~10%

Noble Alloys ~5%

8.6 Consolidation and M&A Trends

- Increased consolidation among mid-tier players, particularly in Europe and India.

- Several acquisitions of distressed alloy units by integrated steel companies.

- Growing interest from private equity (PE) and sovereign funds in ESG-aligned alloy manufacturers.

- Joint ventures between mining firms and alloy producers to secure upstream supply chains (e.g., Indian firms with African partners).

8.7 Future Competitive Outlook (2025–2030)

Strategic Focus Area Expected Industry Movement

Green alloy production Market leaders will invest heavily in low-carbon technologies

Digital transformation AI/IoT-driven efficiencies to become standard by 2030

Strategic Focus Area Expected Industry Movement

Export orientation India to increase focus on Southeast Asia and Africa Specialty alloys Higher-margin alloys (FeV, FeMo) to gain share Sustainable sourcing Blockchain traceability for raw materials to become critical

8.8 Summary Insights

- The competitive landscape is evolving rapidly due to technology shifts, environmental regulations, and changing trade dynamics.

- Market leadership in the future will hinge on:

o Energy and raw material security

o Digitalization and automation

o Sustainable production practices

- Indian players must consolidate, scale, and modernize to protect and grow their share in both domestic and export markets.

9. Future Outlook & Expectations (2025–2030)

The global Ferro Alloys industry is entering a decisive transformation phase between 2025 and 2030. The next five years will be shaped by a convergence of macroeconomic shifts, technological disruption, trade policy evolution, and environmental imperatives. As a strategic input to steelmaking, the sectors growth trajectory will mirror the evolution of infrastructure development, green energy transitions, and manufacturing activity globally.

This section outlines the demand-supply projections, key trends, regional opportunities, and expectations that will define the ferroalloys landscape through 2030.

9.1 Global Demand Projections (2025–2030)

Alloy Type	2025 Est. Demand	2030 Projected Demand	CAGR (2025–2030)
Silico Manganese	~9.5 million MT	~12.2 million MT	~5.1%
Ferro Manganese	~6.2 million MT	~7.7 million MT	~4.5%
Ferro Chrome	~4.8 million MT	~6.0 million MT	~4.6%
Ferro Silicon	~2.3 million MT	~2.9 million MT	~4.8%
Noble Alloys	~1.0 million MT	~1.4 million MT	~6.5%

Total global ferroalloy demand is expected to cross 30 million MT by 2030, led by growth in green construction, EV manufacturing, and hydrogen infrastructure.

9.2 Key Growth Drivers

Global Steel Demand Expansion

- India, Vietnam, Indonesia, and Africa expected to drive 40% of new steel capacity additions by 2030.

- Increased alloy usage in high-strength steels, specialty applications, and green infrastructure.

Energy Transition & Clean Tech

- Ferroalloys used in:

o Wind turbine steels (SiMn, FeMn)

o Hydrogen pipeline steels (low-carbon alloys)

o Electrical steels (FeSi)

Urbanization & Infrastructure Boom

- Rising urban populations will boost demand for alloyed construction-grade steel.

- Smart cities and transportation infrastructure require high-performance steels with precise alloying.

Emergence of Green Alloys

- Buyers increasingly demanding low-carbon ferroalloys, especially in Europe and Japan.

- Producers investing in hydrogen-based reduction, biochar use, and carbon capture.

9.3 Regional Outlook

Region Outlook (2025–2030)

Asia-Pacific Continues to dominate demand; India, Vietnam, Indonesia to rise Europe Slower growth, but shift toward green alloys (CBAM, ESG-led) Middle East & Africa Infrastructure boom to spur steel and alloy imports

North America Moderate demand; reshoring of auto & clean tech sectors

South America Stable growth; Brazil may emerge as a new ferroalloy base

9.4 Technological Evolution Outlook

- Digitalization

- By 2030, >60% of global ferroalloy production to use AI/ML-based furnace control, predictive maintenance, and smart monitoring systems.

Green Technologies

- Hydrogen-based reduction and biomass coke alternatives to gain traction.

- Carbon border taxes (e.g., CBAM in EU) will drive emissions reductions in alloy production.

Process Innovations

- Use of DRI (Direct Reduced Iron) and FeMn-rich slags to improve recovery.

- Real-time slag composition monitoring to optimize energy and yield.

9.5 Indias Strategic Outlook (2025–2030)

Projected Growth in Indian Ferro Alloys Demand 2025 2030 Projected CAGR

~5.5 million MT ~7.8 million MT ~7.0%

Driven by Indias National Steel Policy targets of 300 MT steel production by 2030.

Key Focus Areas for India:

- Captive power investments to reduce energy costs.

- Overseas ore mining rights for manganese and chrome.

- Upgradation of aging furnaces and pollution control systems.

- Entry into high-margin specialty alloy segments (e.g., FeV, FeTi).

- Consolidation of MSME units into competitive clusters.

9.6 Industry Transformation Themes (2025–2030) Theme	Expected Impact
ESG Compliance as Market Access	Non-compliance will restrict access to premium markets (EU, Japan).
Carbon Border Adjustment Mechanisms (CBAM)	Will force exporters to reduce carbon footprint.
Green Steel Integration	Steelmakers will prefer sourcing from low-emission alloy producers.
Product Differentiation	Custom alloys, traceable sourcing, and quality certifications vital.
M&A and Joint Ventures	Consolidation and global resource alliances will accelerate.

9.7 Risks & Mitigation Strategies

Risk	Mitigation Strategy
Raw material price volatility	Long-term sourcing agreements, domestic exploration investments
Energy cost inflation	Solar/wind captive power, hybrid furnaces, government policy push
Trade policy shifts	Diversification of export markets, FTAs with ASEAN, Africa, GCC
Environmental regulation pressure	Pre-emptive ESG investments, green alloy certifications
Technology lag	Govt-backed technology funding, joint R&D with universities & MNCs

9.8 Investment Opportunities (2025–2030)

- Greenfield and brownfield alloy plants in Odisha, Chhattisgarh, and Telangana.

- Joint ventures with African and Latin American mining companies.

- Technology parks for ferroalloy digitization and decarbonization.

- Captive solar/wind plants for energy-intensive alloy manufacturing zones.

- Startups in alloy waste recycling and slag-to-value conversion.

9.9 Summary Insights

- The period 2025–2030 will be one of rapid transformation and opportunity for the Ferro Alloys industry.

- Success will depend on a producers ability to:

o Adapt to ESG and trade compliance demands

o Invest in technology and cost optimization

o Build secure raw material linkages

o Differentiate products with traceability and certifications

- India, with its domestic steel growth and existing production base, has the potential to become a global ferroalloy leader—if it overcomes structural inefficiencies and accelerates modernization.

10. Strategic Priorities & Recommendations

As the Ferro Alloys industry advances toward 2030, it faces a complex environment marked by rapid technological changes, evolving regulatory frameworks, and shifting market dynamics. To remain competitive and capitalize on emerging opportunities, industry stakeholders—especially in India—must align their strategies with the following priorities and actionable recommendations.

10.1 Strategic Priorities Priority Area	Description
1. Securing Raw Material Supply	Strengthen domestic manganese and chrome ore mining; pursue overseas mining partnerships to mitigate import risks.
2. Enhancing Energy Efficiency	Invest in captive renewable energy sources (solar, wind) and adopt energy-saving furnace technologies to reduce costs.
3. ESG & Regulatory Compliance	Implement proactive environmental management systems; adhere to emerging global ESG standards to access premium markets.
4. Technological Modernization	Adopt automation, AI, and digital monitoring to improve production yield, reduce emissions, and optimize operations.
5. Product Quality & Differentiation	Develop low-carbon and specialty ferroalloys with certifications and traceability to cater to evolving steel industry demands.
6. Market Diversification & Export Expansion	Explore new export markets in Southeast Asia, Africa, and the Middle East to reduce dependency on traditional markets like the EU.
7. Industry Consolidation & Cluster Development	Encourage consolidation of MSME players and promote industrial clusters to leverage economies of scale and shared infrastructure.

10.2.1 Raw Material Security

- Enhance domestic mining: Accelerate exploration and production capacities for manganese and chromite ore in Odisha, Jharkhand, and other mineral-rich states.

- International mining partnerships: Negotiate long-term mining rights or joint ventures in manganese- and chrome-rich countries such as South Africa, Gabon, and Kazakhstan.

- Inventory management: Develop strategic ore stockpiles to buffer against supply disruptions and price spikes.

10.2.2 Energy Cost Optimization

- Renewable energy adoption: Establish captive solar and wind power plants near production units, capitalizing on government subsidies and incentives.

- Energy-efficient furnaces: Retrofit or replace outdated submerged arc furnaces (SAF) with energy-saving variants incorporating advanced electrodes and control systems.

- Energy audits: Conduct regular third-party audits to identify and implement energy conservation measures.

10.2.3 Compliance & Sustainability

- ESG frameworks: Establish transparent ESG reporting aligned with global standards (GRI, SASB) and participate in voluntary carbon markets.

- Emission reduction: Invest in pollution control technologies such as dust collectors, gas scrubbers, and carbon capture where applicable.

- Water management: Implement efficient water recycling and waste water treatment systems to comply with tightening environmental regulations.

10.2.4 Technology & Innovation

- Digital transformation: Integrate IoT sensors and AI-driven furnace management systems for real-time process optimization.

- R&D investment: Collaborate with academic and research institutions to develop low-carbon alloy production methods, and innovative alloy chemistries.

- Product innovation: Develop niche specialty alloys (e.g., ferro-vanadium, ferro-niobium) to diversify revenue streams and increase margins.

10.2.5 Market Expansion & Customer Focus

- New market entry: Prioritize markets with growing infrastructure needs, such as ASEAN countries, Africa, and the Middle East.

- Quality certifications: Obtain internationally recognized product certifications to meet stringent import standards.

- Customer engagement: Strengthen relationships with steel producers through long-term contracts and customized alloy solutions.

10.2.6 Industry Collaboration & Consolidation

- Promote clusters: Develop ferroalloy industrial clusters with shared infrastructure (power, logistics, R&D centers) to reduce costs.

- Support MSMEs: Facilitate access to technology, finance, and compliance assistance for smaller producers.

- M&A facilitation: Encourage strategic mergers and acquisitions to build globally competitive entities.

10.3 Role of Government & Policy Support

- Policy incentives: Encourage government schemes for renewable energy adoption, mining exploration, and technology modernization.

- Trade facilitation: Negotiate free trade agreements and reduce export barriers to expand market access.

- Skill development: Promote vocational training programs focused on ferroalloy production technologies and environmental compliance.

- Research funding: Increase grants and subsidies for ferroalloy R&D, especially for green production technologies.

10.4 Expected Benefits

Benefit Area Impact

Cost competitiveness Lower energy and raw material costs improve margins

Market access ESG compliance and certifications unlock premium global markets

Operational efficiency Technology adoption boosts yields, reduces waste and downtime

Sustainability Reduced carbon footprint ensures regulatory and social license to operate

Revenue growth Specialty alloys and export diversification increase profitability

Industry resilience Secured supply chains and consolidated players improve stability

10.5 Conclusion

The Ferro Alloys industry stands at a strategic inflection point. The companies that proactively align their operations with sustainability, technology, and market diversification priorities will be best positioned to thrive in the competitive global landscape.

By implementing the recommendations outlined, the Indian ferroalloys sector can transform into a globally competitive, environmentally responsible, and innovation-driven industry, playing a vital role in the countrys steelmaking ambitions and the global green transition.

11. Conclusion

The Ferro Alloys industry, a critical pillar of the global steel production ecosystem, is poised for transformative growth and evolution from 2025 through 2030. Driven by increasing demand from expanding steel capacity worldwide, technological advancements, and the imperative to decarbonize, the sector faces both significant opportunities and complex challenges.

This report has highlighted the current global and Indian market landscape, emphasizing the need for enhanced raw material security, energy efficiency, and compliance with emerging ESG standards. It has detailed the competitive dynamics where innovation, vertical integration, and product differentiation will define market leadership.

Looking ahead, the industrys success will hinge on its ability to embrace green technologies, digital transformation, and strategic collaborations while navigating regulatory shifts and market volatility. India, with its growing steel ambitions and resource base, is uniquely positioned to become a global ferroalloy hub—provided it accelerates modernization, invests in sustainable practices, and leverages new market opportunities.

In summary, the Ferro Alloys industry is entering a new era marked by resilience, innovation, and sustainability. Stakeholders who proactively adapt to this evolving landscape will not only secure their competitive advantage but also contribute significantly to the global steel industrys greener and more efficient future.

OVERVIEW OF THE COMPANY AND ITS BUSINESS:

Our Company was originally incorporated as Jainam Infraways Private Limited in March 2014. Jainam Ferro Alloys (I) Limited is an India-based company, which is engaged in the business of manufacturing of ferro alloy. The Companys products include Ferro Manganese, Silico Manganese, and Ferro Manganese Slag. The Companys Ferro Manganese product is primarily an alloy of manganese and iron. It contains a high content of manganese and is used in steel products wherein silico has low content of manganese. It is mainly used in the production of flat steel, manganese-rich steel, and stainless-steel products. Its Silico Manganese product is ferro alloys with elevated contents of manganese and silicon. The Companys products are also used for deoxidizing and refining of steel. The Companys ferroalloys are also used in the automotive, railway, construction, and various engineering industries.

In the year 2016, our Company took over the property of ferro alloy plant of M/s Raghuvir Ferro Alloys Private Limited vide Sale deed dated June 21, 2016. Pursuant to the sale deed the company acquired the entire factory of M/s Raghuvir Ferro Alloys Private Limited having its factory located at Plot No. 103 to 113 & 130 to 136/A & 137, Sector-C, Urla Industrial Area, Raipur, Chhattisgarh- 492003, India including Super Structure Factory Shed, Administrative Buildings, Plant and Machinery, Weigh Bridge, Electrical Installation, Office equipment together with all rights, concessions, licenses and other privileges.

Thereafter we started commercial production with one furnace having designed capacity of 9 MVA with 5000 KVA power load for the production of Ferro alloys of the different grades. Buyout by the response from the market in June 2017, the company started one more furnace having designed capacity of 6 MVA with 4000 KVA power load for the same manufacturing activity. The products manufactured by our Company are primarily used in manufacturing of steel and in foundry activities. It is used as an alloying element which enhances some key physical properties of steel like elasticity, ultimate tensile, strength and toughness etc. Sometimes addition of some elements in the form of alloys is done deliberately to liquid steel for developing abrasion resistance, wear resistance and corrosion resistance properties. Apart from using manganese alloys for alloying the steel, they are also widely used for deoxidizing & refining of steel. Phosphorus and other elements can also be controlled depending on customer specification. Smaller quantities of alloys are used as reductant in order to produce other metals. Besides their use in plain carbon steel and alloy steel plants, Ferro alloys are consumed by the foundries and electrode industries. A very specific application of refined manganese alloys is a constituent in the coating of welding electrodes. In ceramic industries, manganese alloys are used in small quantities.

In financial year 2024-25 The company also Commence to setup MWP Captive Solar Power plant of the Company and also authorised to Managing Directors and Whole Time Director to make necessary applications for approvals of setting up the project, The commission the said plant in the land of Company situated at Rajnandgaon, Chhattisgarh. The power generated at Solar Power Plant will be captively consumed to meet the power requirement of the Plant, which will replace the high-cost power consumption of the company, being purchased from state. The generation of Solar Energy will support the green initiatives of the Company and reduce the

Our customers include companies like Steel Authority of India Ltd, Jindal Stainless Ltd (Jaipur), Jayaswal Neco Industries Limited, Jindal Steel & Power Ltd (Raigarh), Ahmedabad Metal & Alloys, Ascent Enterprises, Saarloha Advanced Materials Pvt. Ltd, BRGD Ingot Pvt. Ltd, Shri Madhav International, JSW Steel Limited (Bellary).

OUR COMPETITIVE STRENGTHS

Forging Strength, Shaping the Future

At Jainam Ferro Alloys (I) Limited, our journey is built on core strengths that set us apart in the ferroalloy manufacturing industry. With a focus on quality, resilience, and forward- thinking strategies, we continue to deliver value across every facet of our operations.

1. Quality Assurance

Precision That Powers Performance

Quality is the foundation of our reputation. We maintain strict quality control measures throughout the production process—ensuring consistent chemical composition, purity, and performance of our Ferro Manganese and Silico Manganese alloys.

- In-house laboratory for real-time testing

- Adherence to industry standards and client specifications

- Commitment to zero-defect policy in every batch

2. Proven Success

Track Record of Growth & Reliability

Since our incorporation in 2014, we have demonstrated a consistent growth trajectory, earning the trust of major players in the steel, construction, automotive, and engineering sectors.

- Strong client base across India and export markets

- Repeat business from top-tier customers

- Recognized for on-time delivery and product consistency

3. Weathering the Storm

Resilience Through Market Volatility

We have successfully navigated economic cycles, raw material fluctuations, and industry disruptions through robust planning, operational efficiency, and strategic agility.

- Diversified sourcing to manage input costs

- Flexible production to adapt to changing demand

- Strong financial discipline and inventory control

4. Staying Ahead of the Curve Innovating for Tomorrow

Our forward-looking approach ensures we remain competitive in a dynamic global landscape. We continually invest in:

- Technological upgrades and process automation

- Sustainability initiatives for energy efficiency and waste management

- Research and development for future-ready alloy solutions

Looking Toward the Future

At Jainam Ferro Alloys (I) Limited, we envision a future defined by innovation, sustainability, and global relevance. As a key player in the ferro alloys industry, we are committed to advancing our capabilities, expanding our footprint, and contributing to the ever-evolving demands of modern metallurgy.

Strategic Growth

We aim to strengthen our position in both domestic and international markets by:

- Expanding production capacity to meet rising demand in steel and allied industries.

- Diversifying our product portfolio with value-added ferroalloys and customized solutions.

- Exploring new markets and building long-term partnerships with global steel manufacturers.

Sustainability & Responsibility

Our vision for the future includes a strong commitment to sustainable practices:

- Investing in eco-friendly technologies to reduce carbon footprint and enhance energy efficiency.

- Maximizing the use of Ferro Manganese Slag as a byproduct for road construction and other applications, promoting a circular economy.

- Adhering to strict environmental and safety standards across all operations.

Innovation & Excellence

To stay ahead in a competitive landscape, we are focused on:

- Embracing automation and digital transformation in manufacturing and quality control.

- Strengthening R&D initiatives to innovate alloy compositions tailored to next-generation steel grades.

- Fostering a culture of continuous improvement and skill development among our workforce.

A Global Vision

Jainam Ferro Alloys is poised to become a trusted global supplier of high-quality ferroalloys. With a foundation built on reliability, quality, and integrity, we are ready to meet the demands of a rapidly transforming steel industry worldwide.

SEGMENT WISE OR PRODUCT WISE PERFORMANCE

Company currently operates in only one segment i.e. Manufacturing and Sale of Ferro Manganese and Silico Manganese during the Year under review. Your Company has performed excellent during the preceding year due to increase in market realization and optimum utilization of the plant capacity.

The following table sets forth our revenue from operations from our different products for the periods indicated:

Particulars	For the year ended 31 March, 2025	For the year ended 31 March, 2024
	Rs. in lakhs	Rs. in lakhs
Revenue From Sale
HC Ferro Manganese	21984.12	13711.38
Silico Manganese	2177.14	5360.60
Ferro Slag	1635.98	892.36
Silico Slag	0.03	0.28
Others	168.09	19.93
Manganese Ore	1170.73	2707.95
Gross Revenue From Sale	27136.09	22692.50
Less: Sales Return, Rebate & Discount (Net of GST)	1006.98	397.73
Less: GST	3989.63	3326.06
GRAND TOTAL	22139.48	18968.71