Shares of Indian Metals & Ferro Alloys (IMFA) ended Wednesday’s trading session 2.5% higher at ₹1,126 apiece following the announcement of its September-quarter results, which presented a mixed picture.
The company reported a 51.4% year-on-year (YoY) increase in consolidated net profit to ₹147.76 crore for the September quarter of FY27, compared with ₹97.56 crore in the year-ago quarter. However, profit declined 23.3% sequentially from ₹192.59 crore in the June quarter.
Revenue from operations rose 34.7% YoY to ₹968.17 crore from ₹718.65 crore in Q2 FY26. On a quarter-on-quarter (QoQ) basis, revenue was marginally higher, increasing 0.8% from ₹960.45 crore in Q1 FY27.
Operating performance also improved on a yearly basis. EBITDA, derived by adding finance costs and depreciation to profit before tax and subtracting other income, stood at ₹234.87 crore, up 70.3% from ₹137.89 crore in Q2 FY26.
The EBITDA margin expanded to 24.3% from 19.2% a year ago. However, on a sequential basis, EBITDA declined 16.5% from ₹281.27 crore in Q1 FY27, while the margin narrowed from 29.3%.
Ferro alloys revenue rises 34% YoY; power and mining income improves
Revenue from the ferro alloys segment remained flat on a QoQ basis, while it increased 34% YoY to ₹967 crore. Revenue from the power and mining segments stood at ₹133 crore and ₹159 crore, respectively, higher than ₹130 crore and ₹106.37 crore recorded in the corresponding period last year.
IMFA announces an interim dividend of ₹5 per share
Along with its September-quarter results, the company also announced an interim dividend of ₹5 per share and fixed Thursday, November 12, as the record date.
“Declared an interim dividend of ₹5/- (Rupees Five only) per equity share of INR 10/- each for the financial year ending 31st March 2027. As intimated vide our letter dated 23rd October 2026, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Thursday, 12th November 2026. The interim dividend will be paid to such shareholders on or before Wednesday, 3rd December 2026,” the company said in its regulatory filing.
IMFA share price trend: Stock down 24% in 2026 after three years of strong gains
The company’s shares have turned volatile in 2026 after delivering bumper returns in each of the previous three calendar years. The stock started 2026 on a weak note, plunging 22% in January. Although it managed to recover over the following months, the broader market sell-off put further pressure on the stock, keeping it lower for most of the year and dragging it to a one-year low.
So far in 2026, the stock has declined 24%, giving up around 30% of the gains it recorded in 2025, when it surged 75%. Between 2020 and 2025, the stock delivered positive returns in four of those six calendar years, generating cumulative gains of around 1,500% to post gains for the fourth consecutive year.
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