Indian Metals and Ferro Alloys (533047) investor relations material

Executive summary

• Record Q1 FY27 results: standalone revenue was ₹960.45 crore, EBITDA ₹281.27 crore and PAT ₹191.49 crore; consolidated net profit was ₹192.59 crore.

• Ferrochrome production exceeded 80,000 tonnes, supported by firm realizations and higher volumes.

Financial highlights

• Standalone revenue from operations rose 49.71% YoY to ₹960.45 crore; total income was ₹972.42 crore.

• Standalone EBITDA increased to ₹281.27 crore from ₹125.47 crore and PAT to ₹191.49 crore from ₹91.48 crore YoY.

• Consolidated revenue from operations was ₹960.45 crore versus ₹641.54 crore; net profit was ₹192.59 crore versus ₹92.54 crore YoY.

• Ferrochrome realization was ₹119,888 per tonne versus ₹95,165 YoY; EBITDA cost per tonne was ₹77,575 versus ₹85,884.

• Standalone EBITDA margin was 29.29%, compared with 19.56% YoY; EPS was ₹35.49, not annualized.

Outlook and guidance

• FY27 production expectation was reduced from 400,000 to ~380,000 tonnes due to transformer replacement, conservative loading and gas-cleaning requirements at KNR 2.

• KNR 2’s first furnace was expected to tap in August, with the second targeted for late September or early October; stabilized operations were targeted by Q4.

• Production is expected to reach ~120,000 tonnes per quarter once furnaces stabilize; FY28 production expectation is ~500,000 tonnes.

• The 120 KLD ethanol project trial run was expected in October 2026, with commissioning indicated for November.

• Additional 65 MWp hybrid renewable capacity is expected by June 2027; non-fossil sources are expected to supply ~40% of energy use by mid-2027.