IMFA’s Q2 FY15 turnover increases 8% y-o-y

Completes Refinancing of Rs 430 crores term loan for 120 MW captive power plant

October 29, 2014. By Moulin

Indian Metals & Ferro Alloys (IMFA), India’s leading fully integrated producer of value-added chrome, announced its Q2 & H1 FY15 results for the period ended September 30th, 2014.

Highlights of Q2 FY15 vs Q2 FY14;

Revenue of Rs 348 crores vs Rs 323 crores
Exports of Rs 281 crores vs Rs 274 crores
EBIDTA of Rs 66 crores vs Rs 87 crores

Highlights of H1 FY15 vs H1 FY14

Revenue of Rs 649 crores vs Rs 630 crores
Exports of Rs 507 crores vs Rs 523 crores
EBIDTA of Rs 130 crores vs Rs 168 crores

Business Highlights:

Refinancing of Rs 430 crores term loan for 120 MW captive power plant completed; interest outgo will reduce.
Environmental Clearance for Sukinda Mines received valid upto March 31st, 2026 and mining operations restarted.

Commenting on the results Mr Subhrakant Panda, Managing Director & CEO said: “The ferro chrome industry is currently facing a challenging environment due to rising costs coupled with lower prices. While the key lies in a sustained economic recovery, the robustness of our integrated business model places us at a significant advantage to our peers and we expect to benefit from improved business sentiments going ahead.”

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