Indian Metals & Ferro Alloys Limited — Q2FY27 earnings call summary

Filed 11 November 2026 · Official transcript

Margins expected to tighten slightly in H2FY27 due to rising coke costs, offset by volume growth
FY27 volume guidance: 380,000 tons; FY28 target ~475,000 tons
South African capacity ramp-up balanced by Chinese production cuts; stainless steel demand growth in India supports outlook
EBITDA per ton expected to improve by INR1500-2000 with Kalinganagar integration and scale-up
Ethanol project commissioning Jan 2027; projected revenue INR320 Cr, EBITDA margin ~10%, IRR ~15%
Exports to China expected to rise from 120k to 180-200k tons; domestic sales to increase to 40% of output by 2028
KNR-2 capacity ramping; KNR-1 furnace 2 hot metal tapping mid-Nov 2026
Board approved INR375 Cr capex to increase chrome ore output to 1.2+ million tons and low-carbon ferrochrome production