Indian Metals & Ferro Alloys Ltd. (IN:IMFA)
:IMFA
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Indian Metals & Ferro Alloys Ltd.
(IMFA)
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Rating:60Neutral
Price Target:
₹1,546.00
▲(3.31% Upside)
Action:Downgraded
Date:05/29/26
The score is held back primarily by weakened FY2026 cash flow and increased debt despite solid profitability. Technicals are mildly supportive with price above key moving averages and neutral momentum indicators, while valuation is reasonable but not compelling given the recent cash strain.
Positive Factors
Captive power integration
A vertically integrated model with captive power lowers energy cost volatility for energy‑intensive ferrochrome smelting. That structural cost advantage supports through‑cycle margin resilience versus non‑integrated peers and improves long‑term competitiveness in steel inputs markets.
Negative Factors
Sharp cash flow deterioration
A swing to deeply negative free cash flow despite prior positive years indicates heavy capex or working‑capital strain. This weakens self‑funding, raises refinancing and liquidity risk, and can force tradeoffs on dividends, maintenance spending or debt reduction for several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Captive power integration
A vertically integrated model with captive power lowers energy cost volatility for energy‑intensive ferrochrome smelting. That structural cost advantage supports through‑cycle margin resilience versus non‑integrated peers and improves long‑term competitiveness in steel inputs markets.
Read all positive factors
Indian Metals & Ferro Alloys Ltd. (IMFA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹79.46B
Dividend Yield1.05%
Average Volume (3M)13.23K
Price to Earnings (P/E)18.6
Beta (1Y)1.46
Revenue Growth10.21%
EPS Growth12.03%
CountryIN
Employees2,101
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)61.25
Shares Outstanding53,954,105
10 Day Avg. Volume12,331
30 Day Avg. Volume13,227
Financial Highlights & Ratios
PEG Ratio1.27
Price to Book (P/B)2.39
Price to Sales (P/S)2.30
P/FCF Ratio-6.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)118.57
Revenue Forecast (FY)₹44.07B
Indian Metals & Ferro Alloys Ltd. Business Overview & Revenue Model
Company Description
Indian Metals and Ferro Alloys Limited produces and sells ferro chrome in India. It also offers fly-ash bricks and low-density aggregates. The company exports its products to Korea, China, Japan, and Taiwan. Indian Metals and Ferro Alloys Limited ...
How the Company Makes Money
IMFA primarily makes money by manufacturing and selling ferroalloy products—most notably ferrochrome—to industrial customers such as stainless-steel and alloy-steel producers in India and international markets. Revenue is largely driven by (a) sal...
Indian Metals & Ferro Alloys Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.71B | 28.26B | 25.65B | 27.43B | 26.39B | 25.65B |
| Gross Profit | 10.87B | 10.08B | 11.69B | 11.55B | 6.75B | 13.93B |
| EBITDA | 5.15B | 5.87B | 5.30B | 6.18B | 4.64B | 8.13B |
| Net Income | 3.30B | 4.24B | 3.79B | 3.44B | 2.25B | 5.07B |
Balance Sheet | ||||||
| Total Assets | 33.96B | 43.17B | 31.77B | 28.32B | 26.54B | 28.21B |
| Cash, Cash Equivalents and Short-Term Investments | 10.33B | 4.17B | 9.30B | 4.50B | 2.78B | 1.62B |
| Total Debt | 4.35B | 9.58B | 3.89B | 2.37B | 3.41B | 4.90B |
| Total Liabilities | 8.77B | 15.90B | 8.20B | 7.04B | 7.50B | 10.76B |
| Stockholders Equity | 25.10B | 27.18B | 23.48B | 21.20B | 18.73B | 17.15B |
Cash Flow | ||||||
| Free Cash Flow | 682.00M | -10.40B | 4.70B | 3.99B | 1.51B | 3.03B |
| Operating Cash Flow | 3.31B | 2.95B | 5.85B | 5.12B | 1.51B | 3.90B |
| Investing Cash Flow | -3.29B | -7.63B | -5.62B | -2.09B | 1.40B | -1.06B |
| Financing Cash Flow | 35.60M | 4.95B | -679.30M | -2.59B | -2.91B | -2.84B |
Indian Metals & Ferro Alloys Ltd. Technical Analysis
Positive
1496.40
Price Trends
1400.40
Positive
1341.35
Positive
1233.98
Positive
Market Momentum
7.97
Positive
52.06
Neutral
57.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IMFA, the sentiment is Positive. The current price of 1496.4 is above the 20-day moving average (MA) of 1473.14, above the 50-day MA of 1400.40, and above the 200-day MA of 1233.98, indicating a neutral trend. The MACD of 7.97 indicates Positive momentum. The RSI at 52.06 is Neutral, neither overbought nor oversold. The STOCH value of 57.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:IMFA.
Indian Metals & Ferro Alloys Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹116.91B | 17.81 | ― | 0.18% | 62.31% | 39.66% | |
64 Neutral | ₹272.04B | 25.86 | ― | 0.77% | 22.46% | 16.97% | |
62 Neutral | ₹101.57B | 22.16 | ― | ― | 18.87% | 311.35% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹29.45B | 6.81 | ― | 1.65% | 20.32% | -31.19% | |
60 Neutral | ₹79.46B | 18.61 | ― | 1.05% | 10.21% | 12.03% | |
55 Neutral | ₹77.94B | 70.85 | ― | 0.24% | -0.24% | 8.70% |
* Basic Materials Sector Average
IN:IMFA
Indian Metals & Ferro Alloys Ltd.
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134.19%
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Indian Metals & Ferro Alloys Ltd. Corporate Events
IMFA Restarts Operations at Newly Acquired Ferro Chrome Plant in Odisha
Mar 11, 2026
Indian Metals Ferro Alloys Ltd. has restarted operations at its newly acquired ferro chrome plant in Kalinganagar, Jajpur district, Odisha, bringing two furnaces back online as of 11 March 2026. The company plans to switch on the remaining two fu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.