IMFA records highest ever turnover and exports, FY14 EBIDTA up 21%
Trial production of Low Density Aggregates (LDA) has started
May 20, 2014
Internal Press Release

Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of value-added ferro chrome, has announced Q4 & FY14 results for the period ended March 31st, 2014.

Highlights of FY14 vs FY13
• Revenue increased by 3.5% to Rs 1317.85 crores ( Rs 1273.25 cr)
• Exports increased by 10% to Rs 1073.75 crores (Rs 976.51 cr)
• EBIDTA increased by 21% to Rs 320.69 crores (Rs 264.65 cr)

Highlights of Q4 FY14 vs Q4 FY13
• Revenue of Rs 324.16 crores ( Rs 379.04 cr)
• Exports of Rs 264.08 crores (Rs 297.08 cr)
• EBIDTA of Rs 70.32 crores (Rs 71.28 cr)
• Net profit of Rs 3.95 crores (loss of Rs 11.39 cr)

The Board of Directors have recommended dividend of 30% (Rs 3 per share) for FY14.

Operational Highlights
• Highest ferro chrome production of 198,063 tonnes achieved in FY14; restart of hitherto idle 48 MVA    furnace.
• Both units of 2x60 MW captive power plant were tested at full load and operations have stabilised; expected    to bring about reduction in generation cost in FY15.
• Grant Order still awaited for captive coal block being developed by Utkal Coal Ltd (UCL), an SPV. However,    Government of Odisha has acknowledged that the Company has met all requirements and is fully    compliant with the State Government’s checklist.

Commenting on the results Mr Subhrakant Panda, Managing Director & CEO, IMFA said: “Operating results during the year under review have been satisfactory given the challenging conditions and we have reported the highest ever turnover besides foreign exchange earnings crossing the thousand crore mark for the first time. While the bottomline has been impacted by the higher depreciation and finance costs on account of the recently commissioned captive power plant, the long term benefit of this investment is significant.

The SPV developing the captive coal block is fully compliant with the checklist prepared by the State Government so we look forward to sanction of grant order soon with mining lease being executed within the current calendar year and operations beginning shortly thereafter.

We are also delighted by the start of trial production at the Low Density Aggregate (LDA) plant set up to gainfully utilise fly ash from the captive power plants. LDA is an eco-friendly substitute for stone chips used in construction and is being produced in India for the first time demonstrating our pioneering spirit and commitment to the environment.”

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

Mr Kishore Mohan Mohanty