Indian Metals & Ferro Alloys announced that the Board of Directors of the Company at its meeting held on 24 May 2022, has recommended a Final dividend of Rs.7.50 per share (i.e.75%), subject to the approval of the shareholders.

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Net profit of Indian Metals & Ferro Alloys rose 118.01% to Rs 142.58 crore in the quarter ended March 2022 as against Rs 65.40 crore during the previous quarter ended March 2021. Sales rose 31.35% to Rs 756.71 crore in the quarter ended March 2022 as against Rs 576.11 crore during the previous quarter ended March 2021.

For the full year,net profit rose 204.56% to Rs 507.24 crore in the year ended March 2022 as against Rs 166.55 crore during the previous year ended March 2021. Sales rose 41.14% to Rs 2602.95 crore in the year ended March 2022 as against Rs 1844.23 crore during the previous year ended March 2021.

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Indian Metals & Ferro Alloys will hold a meeting of the Board of Directors of the Company on 24 May 2022.

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After payment of normal installments for the quarter ending 31 March 2022, the company will have miscellaneous loans of Rs 14.28 crore, which will be paid as per norms due to adverse prepayment conditions.

Indian Metals & Ferro Alloys primarily produces ferro alloys, including charge chrome (high carbon ferro chrome), and has an installed furnace capacity of 190 MVA (284,000 MTPA) in its two plant sites at Therubali and Choudwar, in Odisha.

The company's consolidated net profit surged to Rs 122.12 crore in the quarter ended December 2021 as against Rs 32.42 crore during the previous quarter ended December 2020. Sales rose 54% YoY to Rs 655.22 crore in Q3 FY22.

The scrip shed 0.26% to currently trade at Rs 366.75 on the BSE.

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