2 months ago
IMFA Plans ₹4,000 Crore Expansion to Double Output
IMFA is a company that makes ferro chrome, which is used in stainless steel.
They are planning to spend ₹4,000 crore to make more ferro chrome, mine more raw materials, use more renewable energy, and even make ethanol and other important minerals.
Right now, they make 260,000 tonnes of ferro chrome every year, but they want to double that to 500,000 tonnes by 2028.
They are also working on a project to make ethanol from grains and are looking into making other important minerals.
Most of their ferro chrome is sold to other countries, but they want to sell more in India too.
They are also trying to use more energy from wind and solar power to be more environmentally friendly.
IMFA plans to invest ₹4,000 crore to double ferro chrome output to 500,000 tonnes by FY28.
The company has already invested ₹2,000 crore in greenfield expansion, mining projects, and acquiring Tata Steel’s Kalinganagar facility.
IMFA aims to increase captive chrome ore mining to one million tonnes in FY27 and expand renewable energy usage to 40% by next year.
The company is diversifying into a 120 KLD grain-based ethanol project and evaluating opportunities in critical minerals.
IMFA reported revenue of ₹2,826.31 crore and profit after tax of ₹424.36 crore for FY26.
- Who
- Indian Metals & Ferro Alloys (IMFA)
- What
- Planning to invest ₹4,000 crore to double ferro chrome output, expand mining, increase renewable energy usage, and diversify into ethanol and critical minerals
- Where
- Primarily in Odisha and Kalinganagar
- When
- Over the next two to three years
- Why
- To meet rising domestic stainless steel demand and alter sales mix, with a focus on both local and export markets
Key facts
- Investment Amount
- ₹4,000 crore
- Current Output
- 260,000 tonnes of ferro chrome
- Target Output
- 500,000 tonnes of ferro chrome by FY28
- Renewable Energy Target
- 40% of energy consumption by next year
- Ethanol Project Capacity
- 120 KLD grain-based ethanol project in Odisha
- FY26 Revenue
- ₹2,826.31 crore
- FY26 Profit After Tax
- ₹424.36 crore
Quotes
Subhrakant Panda
Managing Director of Indian Metals & Ferro Alloys (IMFA)
“From the current 260,000 tonnes of ferro chrome output, we will go up to more than 500,000 tonnes of output.”
financialexpress.com
“By next year, about 40% of our energy consumption will come from renewable sources.”
financialexpress.com
Sources
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