The call ran from 3:46 PM to 4:46 PM IST (1 h 1 min).
Key takeaways
Q2 and H1 FY27 volumes and prices rose YoY on KNR1 ramp-up, but margins are tightening (~₹28,000/t EBITDA) and cost guidance was withheld. FY27 production guided at 380,000 t.
| Revenue growth | Noticeably higher YoY; capacity addition and better prices; no figures given. |
|---|---|
| Margins | Q1 ~30% EBITDA margin moderated; Q2 ~₹28,000/t, tightening near term. |
| Order book | Long-term contracts cover significant volumes; no order book figure. |
| Demand visibility | Strong market; SA supply ramp-up and China capacity cuts expected to balance. |
| Management confidence | Confident but evasive on costs; refused cost and pricing numbers. |
Growth
Growth driven by capacity addition and better prices; no revenue or PAT figures disclosed on call.
Outlook
FY27 production guided at 380,000 t (cut slightly); ore raising target 1 Mt; FY28 volume 475,000 t; ₹375 Cr Mahagiri capex.
Risks
Coke and startup cost inflation; margins tightening; KNR2 slipping to July 2027; South African supply ramp-up.
Last quarter's promises, checked
Delivered
- Q2 realisation: 'more or less same, slight correction' from ~₹1.19 lakh/t → ~₹1.16 lakh/t (= BEAT)
Partly delivered
- FY28 production: 475,000–500,000 t → 475,000 t, low end (= PARTIAL)
- KNR-2 env. clearance: ~mid-2027 → July 2027 (= PARTIAL)
Missed
- FY27 production: ~400,000 t → 380,000 t (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Indian Metals & Ferro Alloys Q2 FY27 Results: Net Profit ₹147.8 Cr, Up 51.4% YoY
Indian Metals & Ferro Alloys Ltd reported revenue from operations of ₹968.2 Cr (+34.7% YoY) and net profit of ₹147.8 Cr (+51.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹147.8 Cr · +51.4% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Volume target for FY27 lowered from 400,000 to 380,000 tonnes.
Growth they described
Revenue and profitability reached all-time highs; volumes hit 80,000 tonnes versus 65,000 average.
Call details
| Company | Indian Metals & Ferro Alloys Ltd |
|---|---|
| NSE symbol | IMFA |
| ISIN | INE919H01018 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 4 November 2026 |
| Time | 3:45 PM IST |
| Length | 1 h 1 min |
| Audio | Our stream on YouTube ↗ |
Indian Metals & Ferro Alloys Ltd: key numbers
- Share price
- ₹1,132.00
- Market cap
- ₹6,108 Cr
- Revenue (annual)
- ₹2,826 Cr
- Net profit (annual)
- ₹424.3 Cr
- P/E (TTM)
- 10.6×Sector 16.7×
- Promoter holding
- 58.69%+0.00% QoQ
- FII holding
- 2.88%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
Other calls on Wed, 4 Nov
Today's concalls →
