Feb 05: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced Q3 FY26 results today for the period ending December 31st, 2025.
Business Highlights:
- The Company signed definitive agreements on November’ 4th, 2025 to acquire Tata Steel Limited’s ferro chrome plant at Kalinganagar, Odisha for a base consideration of ₹610 crores; transfer of ownership is subject to receipt of various statutory approvals and is expected to take place in Q4 FY26
- The 100,000 tpa greenfield expansion at Kalinganagar is on track and the first furnace is expected to be commissioned in June 2026
- The ethanol project at Therubali is progressing well, although commissioning has been slightly delayed and is expected in March 2026
Commenting on the results, Mr Subhrakant Panda, Managing Director said: “IMFA has delivered a robust set of numbers in Q3 FY26 supported by improved realisations and stable operating costs with a sharp focus on efficiency. We expect the present market dynamics to maintain a similar trajectory going ahead, with a potential for improved margins if demand for ferro chrome improves further. The100,000 tpa greenfield expansion project at Kalinganagar is on track for commissioning by June 2026 and, along with the strategic acquisition, will position IMFA as the country’s largest producer of ferro chrome.”
Mr Panda added: “In line with rising demand as the Indian economy grows, we intend to increase our exposure to the domestic market when additional ferro chrome capacity comes on line. Moreover, the blended cost of production will reduce on account of proximity to chrome ore mines resulting in an improvement in margins. We are committed to work towards positioning IMFA as a sustainability-focused, highly reliable and globally competitive producer of value added ferro chrome that is well positioned to cater to both domestic and international customers.”