IMFA Q3 FY14 revenue up 17% at Rs 364 cr; EBIDTA increases 44% to Rs 87 cr
Feb 04, 2014
Internal Press Release

Indian Metals & Ferro Alloys (IMFA), India’s leading fully integrated producer of value-added ferro chrome, today announced its Q3 FY14 results for the period ended December 31, 2013.

Highlights of Q3 FY14 vs. Q3 FY13
• Revenue increased 17% to Rs 364.06 crores ( Rs 311.50 cr)
• EBIDTA increased 44% to Rs 87.13 crores (Rs 60.42 cr)
• Net profit declined by 27% to Rs 10.98 crores (Rs 15.06 cr)
• Exports increased by 26% to Rs 286.13 crores (Rs 225.32 cr)

Highlights of Nine Months FY14 vs. Nine Months FY13
• Revenue increased by 11% to Rs 993.69 crores ( Rs 894.21 cr)
• EBIDTA increased by 19% to Rs 257.3 crores (Rs 215.19 cr)
• Net profit declined by 46% to Rs 35.17 crores (Rs 65.28 cr)
• Exports increased by 19% to Rs 809.38 crores (Rs 679.43 cr)

Operational Highlights
• Augmentation of ancillary facilities at Therubali prior to restart of existing 48 MW furnace is complete.
• Unit 1 of 2x60 MW captive power plant operated at full capacity; Unit 2 is under stabilisation process. PG test and COD of both units expected in current quarter.
• In the context of grant order which is awaited for Utkal ‘C’ Block awarded to Utkal Coal Ltd (UCL), Govt of Odisha has acknowledged that the Company is fully compliant with the checklist.

Commenting on the results Mr Subhrakant Panda, Managing Director & CEO, IMFA said,“The quarterly performance is in line with our expectation with revenue rising 17% and operating profits by 44% which is remarkable given the difficult circumstances. However, net profit has been impacted due to higher depreciation and finance costs on account of recently commissioned captive power plants.

The 48 MVA at Therubali which was hitherto idled was switched on in mid-January and operations at the Mahagiri Chromite Mines have also restarted upon receiving permission from MoEF. As such, volume will increase going ahead and there will also be a positive impact on margins.

We are fully compliant with the checklist prepared by State Govt as regards the coal block allotted to Utkal Coal Ltd and expect to receive grant order soon.”

For any information relating to IMFA Group or to enquire about a Press Release issued by us please contact:

Mr Kishore Mohan Mohanty