India: IMFA's ferro chrome production rises 3% y-o-y in FY'26

• Firm ferro chrome prices support performance
  
  
• Expansion activities remain on scheduled track
  
  

Indian Metals & Ferro Alloys Ltd reported ferro chrome production of 267,301 t in FY'26, up 3% y-o-y from 260,190 t in FY'25. Ferro chrome sales also increased marginally to 270,124 t during the fiscal. Meanwhile, chrome ore production registered a sharper growth of 16% y-o-y, rising to 810,612 t from 701,863 t in the previous fiscal, supported by improved mining operations and higher underground ore production.

Strong operational performance supports growth

The company attributed its strong FY'26 performance to firm ferro chrome prices and improved operational efficiency. Revenue increased to INR 2,826.31 crore from INR 2,564.57 crore in FY'25, while profit after tax rose to INR 424.36 crore from INR 378.09 crore.

Commenting on the earnings, Mr Subhrakant Panda, Managing Director said: "IMFA delivered a robust

operational and financial performance on the back of firm ferro chrome prices and sharp focus on operational

efficiency. Despite uncertainty due to the geopolitical situation, the Company drew on a strong Balance Sheet

to pursue growth through a strategic acquisition alongside the greenfield project. Ferro Chrome output will

reach an annualised level of 5 lakh tpa by the end of the calendar year, backed by 10 lakh tonnes of chrome

ore raising in FY'27 which is in itself a momentous milestone. Simultaneously, we are pivoting to renewable

energy which will account for ~40% of the energy mix next fiscal.

The long term trend for stainless steel remains firm, and we are ideally positioned to cater to rising per capita

domestic consumption. Moreover, while the primary focus is on the core business, we are exploring

opportunities especially in the critical minerals space which will provide impetus to our growth trajectory."

Expansion projects progress steadily

IMFA's strategic acquisition of the 100,000 tpa ferro chrome facility at Kalinganagar (KNR 2) became fully operational during March 2026. In addition, the company's greenfield expansion project (KNR 1) is in the final stage of execution, with pre-commissioning activities expected in June 2026. Upon completion, IMFA's ferro chrome production capacity is expected to exceed 500,000 tpa, strengthening its position in the domestic and global ferro chrome market.