IMFAMetals & Mining

Indian Metals & Ferro Alloys Limited

Ferro & Silica Manganese · ISIN INE919H01018 · BSE 533047 · NSE EQ · FV ₹10
Last price
₹1,274
+2.21%today
What this company does

Indian Metals & Ferro Alloys Limited operates in Ferro & Silica Manganese, part of the Metals & Mining sector. It booked ₹960 cr of revenue in its latest quarter (Q1 FY27) and kept 20.0% of sales as profit. It is the largest of 5 Ferro & Silica Manganese companies we track, by market value.

In the report:
60out of 100
Equitytale Health Score
Mixed

Healthier than 60% of companies in Metals & Mining, on all six measures of filed financials. Each measure is ranked against the 12–24 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
41

At close. Not part of the score.

Profitability & returns77

How much profit it earns on the money it employs

Balance sheet67

How much it owes, and whether earnings cover the interest

Cash quality42

Whether reported profit actually arrives as cash

Growth & consistency55

Whether sales and profit have grown, and how steadily

Valuation18

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 20% net margin
Sales up 50% vs last year
Profit up 108% vs last year
Promoters hold 59%
No promoter shares pledged
Strong 28% return on equity
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in IMFA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,274 +2.21%
latest close · 2026-09-17
1-year return
+272.8%
52-wk low ₹23052-wk high ₹1,542
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio8.9Low
LowAverageHigh
P/B ratio2.53Moderate
Below bookModerateHigh
EV / EBITDA6.6Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity28.3%Strong
WeakFairStrong ▸15%
Return on capital34.6%Strong
WeakFairStrong
Net margin20.0%Strong
ThinDecentStrong
EBITDA margin30.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.34Comfortable
LowModerateHigh ▸1
Interest cover21.7×Strong
RiskyOkayStrong ▸5×
Current ratio1.44Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹6,873 cr
Book value
₹504
EPS
₹35.65
latest quarter
Net debt
₹889 cr
owes more than its cash
Enterprise value
₹7,762 cr
EBITDA
₹1,177 cr
annualised
EBIT
₹1,083 cr
annualised
Operating margin
28.2%
Return on assets
17.8%
Earnings yield
11.20%
P/S
1.79
Sales / share
₹712.0
Tax rate
25.4%
Face value
₹10
Shares
5.4 cr
Working capital
₹522 cr
Current assets
₹1,705 cr
Current liabilities
₹1,183 cr
Delivery %
53.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹644 vs market price ₹1,274 — price is 98% above it
Safety cushion-97.8%(target ≥ +20%)
Models span ₹501₹892, midpoint ₹644
Model ₹644
Price ₹1,274
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹960 cr
Other Income₹13 cr
Total Income₹973 cr
Cost of Materials₹351 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-29 cr
Employee Benefit Expense₹82 cr
Finance Costs₹12 cr
Depreciation & Amortisation₹23 cr
Other Expenses₹275 cr
Total Expenses₹715 cr
Profit before Tax₹258 cr
Tax Expense₹66 cr
Net Profit₹193 cr
Net margin on total income19.8%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹322 cr33.0%
Employee benefit expense₹82 cr8.5%
Finance costs₹12 cr1.3%
Depreciation & amortisation₹23 cr2.4%
Other expenses₹275 cr28.3%
Tax expense₹66 cr6.8%
Profit for the period₹193 cr19.8%
Total income ₹973 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue703 cr763 cr960 cr
Total income725 cr769 cr973 cr
Expenses563 cr633 cr715 cr
Profit before tax161 cr136 cr258 cr
Tax30 cr33 cr66 cr
Net profit (owners' share)131 cr103 cr192 cr
Net margin (owners' share, on revenue)18.7%13.5%20.0%
EPS (₹)24.3319.1335.65
YoY (latest quarter): total income +46.7% · net profit +108.4%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹4,317 cr
Shareholder equity
₹2,718 cr
parent shareholders
Total debt
₹924 cr
Cash
₹34 cr
Cash flow · H1 FY26
Operating
₹331 cr
Investing
₹-329 cr
Financing
₹4 cr
Peer comparison
Ferro & Silica Manganese · by market value
CompanyPriceMarket capP/E
Indian Metals & Ferro Alloys Limitedthis company₹1,274₹6,873 cr8.9
Maithan Alloys Limited₹1,027₹2,991 cr1.9
VISA Chrome Limited₹30₹441 cr
Shyam Century Ferrous Limited₹5₹110 cr7.8
Impex Ferro Tech Limited₹5₹48 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.98%
trailing 12 months
Dividend / share (TTM)
₹12.5
Last dividend
₹7.5
ex 31 Jul 2026
ActionDetailEx-date
Dividend₹7.5 / share31 Jul 2026
Dividend₹5 / share11 Nov 2025
Dividend₹5 / share25 Jul 2025
Dividend₹5 / share5 Feb 2025
Dividend₹10 / share14 Nov 2024
Dividend₹7.5 / share22 Jul 2024
Who owns it · 2026-06-30
No pledge
Promoter
58.7%
FII / Foreign
3.6%
DII / Domestic
0.9%
Retail / others
36.8%
Smart-money activity
Insider trades
BoughtRishab Khandelwal · Immediate relative1,525 · ₹11.8 L27 Jun 25
BoughtRishab Khandelwal · Immediate relative550 · ₹4.1 L24 Jun 25
BoughtRishab Khandelwal · Immediate relative1,525 · ₹11.0 L16 Jun 25
Bulk / block deals
short · NSE83 Sep 26
short · NSE224 Apr 26
short · NSE118 Mar 26
Stake changes
SoldFox Consulting Services Pte Ltd→ 0.00% · 12,9876 Jun 24
SoldFox Consulting Services Pte Ltd→ 0.02% · 8,9165 Jun 24
SoldFox Consulting Services Pte Ltd→ 0.04% · 10,41627 May 24
Promoter pledges
ReleasedIDBI Bank Ltd4.22 L · 1.62% held26 Aug 14
ReleasedIDBI Bank Ltd2.05 L · 0.79% held26 Aug 14
ReleasedIDBI Bank Ltd2.05 L · 0.79% held26 Aug 14
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 10 Sep 2026
See the official result
1
Appointment of Dr Deepak Kumar Mohanty (DIN: 09771960) as an Independent Director of the Company.
Backed by 97% of shareholders other than promotersneeded 75%
79.61 L votes for, 2.24 L against · 18% of mutual funds and other big investors said no
2
Enhancement of the Payment of Commission to Independent Directors
Backed by 100% of shareholders other than promotersneeded 50%
81.54 L votes for, 30,968 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 7 named members
owning 58.7% between them · as of 2026-06-30
SUBHRAKANT PANDA, TRUSTEE, B PANDA TRUST51.59%
BP DEVELOPERS PRIVATE LTD2.25%
BAIJAYANT PANDA1.20%
NIVEDITA GANAPATHI1.20%
PARAMITA PANDA1.20%
SUBHRAKANT PANDA1.20%
SUBHRAKANT PANDA, MANAGING TRUSTEE, SHAISAH FOUNDATION0.05%
Business done with them
FY2025 · 5 of the group
The company paid ₹51 cr to companies in the promoter group last year — about 2.0% of its ₹2,565 cr revenue.
SUBHRAKANT PANDA
Other payments to them
also owns 1.20% of the company
₹23 cr
company paid
BAIJAYANT PANDA
Other payments to them
also owns 1.20% of the company
₹22 cr
company paid
BP DEVELOPERS PRIVATE LTD
Other payments to them
also owns 2.25% of the company
₹3 cr
company paid
PARAMITA PANDA
Contribution made to them
also owns 1.20% of the company
₹1 cr
company paid
NIVEDITA GANAPATHI
Other payments to them
also owns 1.20% of the company
₹1 cr
company paid
BAIJAYANT PANDA
Paid them for services
also owns 1.20% of the company
₹32 L
company paid

The company also transacted with 26 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.