Indian Metals -; Ferro Alloys surges 1.5% amid robust Q1FY23 earnings

27 Jul 2022 , 09:16 AM

Country’s leading producer of ferro alloys, Indian Metals & Ferro Alloys Ltd (IMFA) has announced Q1 FY23 results today for the period ending June 30th, 2022.

Highlights of Q1 FY23 vs Q1 FY22

• Revenues of Rs743.42 crore vs Rs537.86 crore
• Exports of Rs710.53 crore vs Rs498.18 crore
• EBITDA of Rs224.67 crore vs Rs177.01 crore
• PAT of Rs133.83 crore vs Rs98.57 crore

Highlights of Q1 FY23 vs Q4 FY22 

• Revenues of Rs743.42 crore vs Rs756.71 crore
• Exports of Rs710.53 crore vs Rs724.80 crore
• EBITDA of Rs224.67 crore vs Rs193.95 crore
• PAT of Rs133.83 crore vs Rs142.63 crore

Key Operational Highlights of Q1 FY23 vs Q1 FY22

• FeCr production of 63,760 tonnes against 58,640 tonnes
• FeCr sales of 60,335 tonnes against 59,506 tonnes
• Power generation of 261 MU against 260 MU

Commenting on the results, Subhrakant Panda, Managing Director said, “Despite weaker global economic growth, IMFA has posted a robust set of numbers for the first quarter. 

We as producers expect margins to sustain in view of correction in input costs and currency devaluation. The company’s Balance Sheet is exceptionally good being debt free, and there is more than adequate liquidity to push ahead with our expansion plans to thrive.”

On Wednesday early morning trade, Indian Metals & Ferro Alloys was trading at Rs290.20 per share higher by 1.50% on the BSE.