(IMFA) Report on: 09th April, 2024

IMFA produces ferro alloys which is an essential input in the steel industry . It is the largest producer of ferro alloys in India. The company has its own ore mines & power supply arrangements. Due to increasing demand it is enhancing its production of ferrochrome capacity from 2,20,000 mt per year to 3,50,000 mt per year. The new capacity in all probability  will be commissioned by March 25. The company’s EPS of the third quarter (2023-24) is INR 19.99 which if annualized is INR 80(approximately). As the steel demand is increasing as well as its production, the demand for ferro alloy can only increase. Moreover, the company caters to both domestic & export markets. So there is a chance of appreciation of the IMFA share price.