Indian Metals & Ferro Alloys

Wheels India Ltd, manufacturers of wheels for automobiles on Thursday said it expects the demand for cast aluminium wheels to grow this year, according to a top company official

Price hikes in the offing, say metal producers; may have to pass on costs, say user industries

Indian Metals & Ferro Alloys (IMFA) on Thursday posted nearly four-fold jump in consolidated profit after tax (PAT) at Rs 122.24 crore for December quarter 2021-22, mainly on account of higher income. The company had logged Rs 32.53 crore PAT during October-December period of 2020-21, IMFA said in a regulatory filing. During the quarter under review, its total income rose to Rs 658.21 crore from Rs 430.10 crore a year ago. Total expenses were at Rs 483.63 crore as against Rs 395.29 crore in the year-ago quarter. In a separate statement, the company said it produced 61,545 tonne of ferrochrome (FeCr) and sold 55,403 tonne of the alloy during December quarter. The company said it has also made a prepayment of Rs 214 crore towards a long-term debt. IMFA MD Subhrakant Panda said: Our record performance in the ongoing fiscal has enabled us to prepay long-term debt thereby strengthening balance sheet ahead of our proposed 100,000 tonne per annum ferro chrome expansion." Headquartered

Upside in Vedanta may be capped unless commodity prices rebound, say analyst

There has been a lot of focus on lowering carbon footprint of vehicles by using light-weight material in their bodies, as lighter vehicles consumer less fuel

Analysts believe that strict quarantine measures to enforce lockdown will lead to demand erosion even though the supply side is facing relatively lower disruptions

The agitation by the union and subsequent cease work decision, has brought to halt all activity at IMFA's Mahagiri mines in Sukinda valley

Indian Metals & Ferro Alloys standalone net profit declines 82.58% in the September 2017 quarter

In the year ago period, it had managed to deliver a meagre profit of Rs 2.75 crore

Since October 24, post Q2FY17 results, the stock rallied 51% against 6% decline in the S&P BSE Sensex.