IMFA bets on higher ferro chrome output to offset raw material volatility in second half

GreyOak summary

Indian Metals and Ferro Alloys (IMFA) reported a 50% profit growth and 35% revenue rise in the September quarter, driven by a 32% increase in ferro chrome output to 86,652 tonnes. Managing Director Subrakant Panda expects output to exceed 100,000 tonnes in the current quarter, aided by captive chrome ore mines that control up to 50% of raw material costs. The company aims for 380,000 tonnes of output in the fiscal year.