IMFA shares Annual Earnings release for Q3FY 24
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Standalone for Q3 FY 24
Financial Highlights:
Operational Highlights:
Management Comment:
Commenting on the Q3 results, Mr Subhrakant Panda, Managing Director, said: “The third quarter earnings numbers are creditable in a difficult global environment where stainless steel demand has been muted and ferro chrome prices have softened, though costs have come down significantly too. The moderation in the Chinese economy has had an impact across the commodities spectrum but we do not expect any further downside. Raising of chrome ore is on track to cross 0.6 million tonnes during the year for the first time with a further hike in FY25, and we are looking to tie up hybrid renewable power for our expansion project which will reduce our carbon footprint. We remain confident of superior performance on account of our fully integrated business model and long term debt free Balance Sheet, and shall increase smelting capacity to take advantage of the available resource base.”
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