Interim report
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imfa IMm. Building Bhubaneswar - 751010 Odisha. India INDIAN METALS &: FERRO ALLOYS LIMITED 04th November, 2026 Corporate Identity No. �--------- L271010Rl961PLCOOOm The Listing Department The Deputy General Manager (Corporate Services) TEL+9167426llOOO National Stock Exchange of India Ltd. +916742580100 Exchange Plaza BSE Limited FAX +916742580020 Plot No. C/1, G. Block+91 674 2580145 Floor 25, P.J. Towers Dalal Street, Fort Mumbai-400001 Stock Code: 533047 mail@imfa.in www.imfa.in Bandra-Kurla Complex Sandra (E) Mumbai-400051 Stock Symbol & Series: IMFA, EQ Sub: Outcome of the meeting of the Board of Directors held on 04th November 2026 Dear Sir/Madam, Further to our letter dated 23 th October 2026, intimating the exchanges about the Board meeting, it is hereby informed that the Board of Directors at its meeting held today i.e. Wednesday, 04th November 2026, inter-alia. 1. Approved the unaudited financial results (Standalone and Consolidated) of the Company for the quarter and half year ended on 30th September 2026, along with the Limited Review Report on the said unaudited financial results from M/s. Walker Chandiok & Co LLP, Statutory Auditors of the Company, which are enclosed as Annexure-I. Extract of the aforesaid results will be published in the newspapers in the format prescribed under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 2. Declared an Interim Dividend of INR 5/- (Rupees Five only) per equity share of INR 10/- each for financial year ending 31st March 2027. As intimated vide our letter dated 23th Oc tober 2026, the record date for reckoning t he list of shareholders who shall be entitled to receive the said interim dividend shall be Thursday, 12th November 2026. The Interim Dividend will b e paid to suc h shareholders on or before Wednesday, 3rd December 2026. 3. Approved an investment of z25 cro re in its wholly owned su bsidiary i.e., Metallix Aviation Private Limited as part of its business expansion by way of s ubscription to equity shares in compliance with the applicable provisions of the Companies Act, 2013. Relevant details prescribed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are enclosed as Annexure-II. 11 \
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11:30 1:55 _. i111fa IMFA Building Bhubaneswar - 751010 INDIAN METALS & FERRO ALLOYS LIMITED Odisha, India 4. Colp01'Qte Identity No. L27101ORl961PLC000428 Approv ed the reconstitution of the Committ ees w.e .f 05th November 2026 which is enclosed as Annexure-III TEL+ 916742611000 Meeting started at +91 674 2580100 A.M. and concluded at FAX+916742580020 This may kindly be taken on record. +91 674 2580145 mail@imfa.in www.imfa.in Thank ing you, Yours faithfu lly, For Indian Metals and Ferro Alloys Limited (Smr u~ jan Ray) Company ' Secretary & Compliance Officer Membership No: F4001 P.M.
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1. 2, 3. 4. 5. 6. 7. 8. 9. Annexure-1 INDIAN METALS AND FERRO ALLOYS LIMITED Regd. Office : IMFA Buil di ng, Bomikha l, Rasu lgarh , Bh ubaneswa r • 7 51 01 0 (Od isha) CIN:L271010R1961PLC000 4 28 Phone· •91 67426 11000 2580100· fax· •91 674 2580020· Email· mail@imfa in• Website· www imfa in > Part I : Statement of Unaudited Standalon e Financial Results for the quarter and six months ended 30 September 202 6 (All amounts in 'I' crore, unless otherwise stated) Three month, ended Six months ended Year ended Particulars 30 September 30 June 30 September 30 September 30 September 31 March 2026 2026 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) {Unaudited) (Audited) Income (a) Revenue from operations 968.17 960.45 718.65 1,928.62 1,360.19 2,826.31 (b) Other income 6.78 11.97 17.49 18.75 38.63 66.74 Total income 974.95 972.42 736. 14 1,947.37 1,398.82 2,893.05 Expenses (a) Cost of materials consumed 386.2'1 350.72 254.40 736. 96 502.86 1,039.50 (b) Changes in inventories of finished goods and work· (57.90) (29.12) 27.06 (87.02) 36.62 12.65 in~progres~ (c) Employee benefits expenses 74.68 82.27 60.89 156. 95 122.85 263.15 {d) Finance costs • Interest on borrowings including other finance 14.90 13.01 8.22 27.91 15.80 37,47 costs • Loss on foreign currency transactions and 0.44 0.44 0.44 translations on borrowings (e) Depreciation and amortisation expenses 26.98 23.41 15.19 50.39 29.92 62.94 (f) Power and fuel expenses 178.26 157.22 116.09 335.48 216.20 439.58 ~ --~-(g) Other expenses 151.85 118.09 121.87 269.94 217.85 484.20 Total expenses 775.01 715.60 604. 16 1,490.61 1, 142.54 Z,339.9 3 Profit before tax (1· 2) 199. 94 256.8 2 131.98 456.76 256.28 553, 12 Tax expenses. : • Current tax 42.14 58.42 34.17 100.56 62.02 146.78 • Tax pertaining to earlier year(s) - (13.57) - Deferred tax charge/(bene fit) 9.03 6.91 (0.96) 15.94 4.01 (4.45) Toto! tax expenses 51.17 65 .33 33.2 1 116.50 66.03 128.76 Profit for the period/year (3•4) 148.77 191.49 98.77 340.26 190.25 424.36 Other comprehensive (loss)/incom e Items that will not be reclassified to profit or loss • Remeasurement on post employment defined (6.09) (13.18) (1.05) {19.27) (1.12) (1.13) benefit plans • Income-tax effect on above 1.54 3.31 0,26 4.85 0.28 0.29 Items that will be reclassified to proiit or loss • Gain/ (Loss) on debtinstrument measured al fair 0.02 (0.35) {0.19) (0.33) 0.22 (0.18) value through othet ,omprchcnslve income • Income-tax effect on above (0.01) 0.10 0.05 0.09 (0.06) 0.05 Total other comprehensive (loss) for the period/ year (4.54) (10.12) (0.93) (14.66) (0.68) (0.97) Total comprehen sive income for the period/ year 144.23 181.37 97.84 325.60 189.57 423 .39 15+61 Pald·Up equity share capital (face value ~10/· pi,r 53.96 53.96 53.96 53,96 53.96 53.96 share) other equity excluding revaluation reserves 2,637.77 10. Earnings per share (EPS) (Hot annualised, except for the year ended 31 March 2026) ( face value of Rs.10/- per share) (a) Basic EPS 27.57 35.49 18.31 63.06 35.26 78.65 /bl Diluted EPS 27.57 35.49 18.31 63.06 35.26 78.65
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Unaudited Standalone Balance Sheet as at 30 September 2026 (AH amounts inf crore} As at A, at Particulars 30 September 202 6 31 March 2026 (Unaudited\ /Audited I A ASSETS 1 Non • current assets (a) Property, plant and equipment 1,780.05 1,341.65 (b) Capital work -in-progress 687.02 791.74 (c) Right·of•use assets 196.46 197.06 (d) Investment property 21.81 21.92 (e) Other Intangible assets 9.83 10.31 (() Intangible assets under development 3.58 2.72 (g) Financial assets (I) Investments in subsidiaries and associate 20.37 20.37 (ii) Other financial assets 68.87 37.11 (h) Income-ta~ assets (net) 35.43 58.20 (i) Other non-current assets 218.43 137.14 Total non-current a,sets 3.041.85 2 618.22 2 Current assets (a) Inventories 964.62 815.34 (b) Financial assets (i) Investments 489.76 353.95 (ll) Trade receivables 242.40 239.05 (iii) Cash and cash equivalents 64.16 32.32 (iv) Bank balances other than {i ii) above 17.35 12.89 (v) Other financial assets 2.20 13.48 (c) Other current assets 182.34 210.71 Total current assets 1,962 .83 1 687.74 3 Assets classified as held for sale 0.10 0.23 TOTAL ASSETS 5,004.78 4,306.19 B EQUITY AND LIABILITIES 1 Equity (a) Equity share capital 53.96 53.96 (b) Other equity 2,922.90 2,637.77 Total equity 2,976 .86 2,691.73 L1abllities 2 Non-current liabUlt ies (a) Financial liabilities (i) Borrowings 422.09 293.41 (ii) lease liabili ties 55.82 56.43 {b) Provisions 28.70 23.73 (c) Deferred tax liabilities {net) 67.29 56.29 Total non-current liabiliti es 573.90 429.86 3 Current llab!lities (a) Financial liabilities (i) Borrowings 787.61 630.28 (ii) lease Uabl\it.les 2.69 1.77 (iii) Trade payables a) totol outsl,u1dlng dues of micro enterprises and small 13.51 35.63 enterprises b) total outstanding dues of creditors other than micro enterprise 417.44 241.59 and smatl enterprises {iv) Other financia l liabilities 138.77 210.10 (b) Other current liabilities 43.92 28.92 (c) Provisions 29.61 10.44 (d) Current-tax liabilities (net) 20.46 25.87 Tota! current liabilities 1,454.02 1, 184,60 Total liabilities 2,027.92 1,614.46 TOTAL EnUtTY AND LIABILITIES S 004 ,78 4,306.19 .... ~:::·~~ ~ #,,,,"'81=> & FE1r.-?o . ..-7c:1-1NlDI0,1- ! BBSR \~ '9~. ~--, ·f ·le. ,,,. '-" ; .(~ . \o< ~ :'\" I s' <" )) ~ ,....r.,,; ~ ( MUMBAI J; ~ \ . .l$J, ~ ',-* -<:>'i- --
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Unaudited Standalone Statement of Cash Flows for t he six months ended 30 September 2026 (All amounts in t crorc) Particulars Six months ended Six months ended lO September 2026 30 September 2025 (Unaudi ted) (Unaudited) A. Cash flow from operating activities Profit before tax 456.76 256.28 Adjustments !or: Depreciation and amortisation expenses 50.39 29.92 Gain/ (loss) on disposal of property, plant and equipment (0.02) 0.43 Gain on sale of current investments (2.57) (11.56) Gain on fair valuation of current investments (7.24) (12,78) Unrealised foreign exchange toss (net) 20.64 13.06 Interest income (6.83) (5.25) Dividend i ncome (1.15) (1.50) Finance costs 27.91 16.24 Liabilities/provision no tonger requlred , writti,1 back (0.02) Operating profit before working capital changes 537.89 284.82 Adjustme,,ts for: {Increase) ln trade and other receivables (66.67) (2.36) (lncrease)/decrease in Inventories (149.28) 99.59 Increase in trade pay~bles and other liabilities 88.23 7.66 Cash generated from operations 410.17 389.71 Income-taxes paid (83.20) (58.53) Net cash genera.led from operat ing activities (A) 3:1.6.97 331.1 B B. Cash flow from Investin g activities Purchase of property, plant and equipment,other intangible assets and {393.36) (262.67) additions to capital work-in-progress and intangible assets under development (adjusted for capital advances and capital creditors) Proceeds from disposal oi property, plant and equipment 0.17 0.71 Purchase or current investments (340.84) (322.06) Sale of current investments 214.51 250.27 Investment In subsidiary (5.00) (Decrease)/increase in fixed deposits (0.41) 2.21 Dividend received 1.15 1.50 Interest received 6.85 5.20 Net cash used In Investing activities {B) (511.93) (329.84) C. Cash flow from financ ing activities Proceeds from non current borrowings 167.84 7.77 Proceeds from current borrowings (net of repayment) 118.17 38.90 Principal payment of lease liabilities (0.81) (0.59) Interest and financing charges paid (26.35) (14.65) Interest on tease paid (1.62) (1.88) Dividend paid (40.43) (27.19) Net cash generated from financing act ivities (C) 216.80 2.36 Net increase in cash and cash equivalents (A+B+C) 31.84 3.70 Cash and cash equivalent, at the b~glnni n3 of the year 32.32 7.25 Cash and cash equivalents at the end of the peri od 64. 16 10.95 The above Statement ol Cash Flows has been prepared under the indirect method set out in the Indian Accounting Standard (Ind AS) 7, 'Statement of Cash Flows·.
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1. 2, 3. 4. Part II : Standalone segment wise Revenue, Results, Assets and lfabllltles Particulars Segment revenue a) Ferro alloys b) Power c) Mining dl Others Total Less: Inter se•ment revenue Net income from ooerations Segment results a) Ferro alloys b) Power c) Mining dl Others Total •Finance costs -Other un•allocable expenditure net of un-a\locable 'income Total profit before tax Segment assets a) Ferro alloys b) Power c) Mining d) Others Pl Unallocated Total segment assets Segment llablllties a) Ferro alloys b) Power c) Mining d) Others el Unallocated Total segment liabilities Threo month, ended 30 September 30 June 2026 2026 (Unaudited) (Unaudited) 967.65 133.14 159.41 0.49 1,260.69 292.52 968.17 220.49 (0.65) 0.73 (1.86) 218.71 (14.90) (3.87) 199.94 2,970.55 542.88 560.69 152.94 777.72 .~.,.~. 5,004.78 875.75 38.55 76.82 75.23 961.57 2,027.92 - i~N~;~:.- .,..-.-.... -..._: MUMDAI / ./ ,.......,_/ i-J" ~q 959.80 130.16 174.3~ 0.42 1,264.72 304.27 960.45 260.40 (0.80) (1.19) l0.9f) 257.50 (13.01) 12.33 256,82 2,848.24 557.16 475.19 134.42 707.64 4,722.6 5 776.16 39.69 81.74 63.78 888.18 1,849,55 30 September 2025 (Unaudlted) 71 8.07 156.63 106.37 0.60 981.67 263.02 718.65 146.55 (1.27) (1.92) (1 .10) 142.26 (8.66) (1.62) 131. 98 1,251.62 533.55 331.04 59.86 1,210.<0 3,386.47 167.56 4.2.05 76.76 1.1 3 614.08 901.58 (All amounts in~ crore) ~Ix months ended Year ended 30 September 30 September 31 March 2026 2025 2026 (Unaudited) (Unaudited) (Audited) 1,927.45 1,358.89 2824.00 263.30 277.51 542.61 333.75 173.56 460.78 0.91 1.27 2.26 2,525.4 1 1,811.23 3,829.65 596.79 451.04 1 003.34 1,928.62 1,360 .19 2,826.31 480.89 264.86 611.29 (1.45) (2.36) {J.83) (0,46) (6.05) 0.14 (2.77) (2.57) 15,441 476.21 253.88 602.16 (27.91) (16.24) (37.91) 8.46 18.64 (11.13) 456.76 256.28 553.12 2,970.55 1,251.62 2,562.61 542,88 533.55 550.81 560.69 331.04 445,18 152.94 59.86 117.06 777.7Z 1,210.40 630,53 5,004.78 3,386.47 4,306.19 875.75 167.56 543. 70 38.55 42.05 34.89 76.82 76.76 107.68 75.23 1.13 53.31 961.57 614.08 874.88 Z,027,92 901,58 1,614.46
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NOTES: 1. Tt,e unaudited standalone financial results of Indian Metals And Ferro Alloys Limited (the ·company') for the quarter and six months ended 30 September 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 4 November 2026 and a limi ted review of the same has been carried out by the statutory auditors of the Company. 2. These unaudited financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting prescribed under section 133 of the Companies Act, 2013, other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation JJ of the SEBI (listing Obligations and Disclosure Requirements) Regulations, '2015 (as amended). J. The Nominated Authority, Ministry of Coal, Government of India, through its Provisional Compensation Order dated 15 October 2024, had directed Utkal Coal Limited ('UCL', erstwhile subsidiary of the Company and thereafter merged into the Company in the previous years), and the successful bidder to mutually negotiate the compensation for building(s) constructed on Rehabilitation and Resettlement (R&R) land related to Utkat ·c Coat Mines. The compensation for RftR assets was mutually agreed at~ 7.00 crore, which has been received in the previous financial year. In the previous years, UCL had received compensation (or the land and statutory expenses. Out of this, the compensation for land has been contested by the succeS$fUl allottee , and thereafter UCL/ the Company has also filed a counterclaim regarding the said compensation. The matter is currently pending before the Coal Tribunal, Talcher. 4. The Board of Directors of the Company at their meeting held on 4 November 2026 have recommended an Interim dividend@ SO% (" 51 • per equity share of face value of'{ 10 each). Place: Bhubaneswar Date: 4 November 2026 By order of the Board for INDIAN METALS AND FERRO ALLOYS LTD SUBHRAKA ~~~~~~OA NT PANDA r;:~•~;~ 2 !0~~1°: Subhrakant Panda Managing Director DIN· 00171845
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Walker Chandiok &_Co LLP Walker Chandiok & Co LLP 42nd Floor, Building Ccmmerz Ill, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai-400063 T +91 22 6626 2699 Indep endent Auditor's Review Report on Standalone Unaudited Quarterly Financia l Resu lts and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Indian Metals and Ferro Alloys Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results (the 'Statement') of Indian Metals and Ferro Alloys Limited (the 'Company') for the quarter ended 30 September 2026 and the year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'). 2. The Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 (the 'Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of lndia. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Chartered Accountants or11cos in J\hrredabad, Be11g.iluru, Bhuba11cswar, ChandigJrh, Che:n,wi, Detiradun, Goa, Gurugram, Guwahati, Hydernbad, lndttrc, Koehi, Kcl!(ala, Mumbai. Ne:w Delhi. Noida and Pune W.J!ker Chomdiok & Co t.LP is regislered with limited liab~ify ¼ilh idenlifa:a!ion number AAC-20SS c1nd h11a its regislered office •H L-41. ConnatJghtCircus, Ou!erCircie, New Delhi. 11000 I , India
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Walker Chandiok &.Co LLP Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of Indian Metals and Ferro Alloys Limited pursuant to the Regulation 33 of the SEBI (Listing Obllgatlons and Disclosure Ptequlrermmls) Ptegulalioris, 2015 (as a1ne1,ded) (cont'd) 4. Based on our review conducted as above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Rajni Digitally signed by Rajni Mundra Mundra ~;.~~.~~':~~\~~ Rajni Mundra Partner Membership No.: 058644 UDIN: 26058644GBOPKZB536 Place: Mumbai Date: 04 November 2026
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INDIAN METALS AND FERRO ALLOYS LIMITED Ro2d. Ottlc-c-: IMFA Bulldlna, Comlkhll, R•suliarh , Bhubu,c-,wu • 751 010 (Odlsha) CIH: L271010R1961PLC000421 ?h(IIC' 91 67-4 !6'10-XI 25!0100' r1i:;• 91 67415!0020 Emal\· 1'1\111.~i f Tl W b I' YN. 1rt (,: f(l .• .• m , . : f! Ii ,e: w. 1 P•rt I : Statement of Unaudltc-d Consotfdat od Ftni ndal Results for th• quarter and six montht &ndcd 30 Stlplt"mbu 2026 tAII :1m11,.ml~ in { crorc, 1.1nkn ,,thtrlli.JC 11:aikd} Thru mont.ta endead stx months e-nded Yi;ar ~nd~d P.utkolnrs 30Soptombu 30 Juno 30 Soplombc-r 30 Septembe r 30 S<.!-plembar 1' /.Urch 202' 207.6 1026 2025 2026 202~ (Audi le di (Unauditad> {Unauditc,c:i, (UnauditC!d) (Un•udll•d) !Unaudited) 1. Income (aJ Re.venur rrorn op,m1ttons 1?b8~ 17 960.<S 718.65 1,926.62 11360.19 2,826.31 (bl Oth,r tnc.ornc S.4l \2.91 15.8) lB.34 3U2 65.47 Total lncorne 973.<0 913.)6 7l4.48 1,946.9 5 1,398.0 1 2,Ht. 7! 2. Ex:.p1mscs {-'l Coit of mMe1ft1b conrnmed :38!>.2'4 350.72 251.40 7)6.9& 502,86 1,039.50 {b) Ch~nie.s. In !nventoz1cs ot tinhhcd 10<,ds and work-In· (S7.90) (29.12} 27.06 (67.02i 36..2 12.65 prQi:CC55 {c) fmp!otct benefits e:>.penus 7'-66 62.27 60.89 156.95 122.15 263.15 (di ftn.1ncc cosl:S I • !ntutst ori borrowings lnc.ludln;i other frnar,ce costs 1'U6 12.<6 7.6S 26.82 H.66 lS. 22 • lo.u on foreign cufttanc.y trinuct.klm and trans!~!l!>n.s 0,'1A O.H O.<◄ on boNowtn~s {e) Dep,ecfMion ~nd amonhotloo expenses 26.90 2MI 15,19 S0.39 29.92 62.9◄ (() Powtr and fuel eXpef1$l!'S 178.26 157.21 116.09 llSA! 216.20 ◄ 3?.58 Cil Other expenses 152.02 118.09 121.88 270,11 217.87 ◄ 84.27 Total cxpcmcs 774.64 715.05 603.60 ,,◄ 19.69 1,t-4 1 . ◄ 2 2,337.75 3. Profit berorc share of net loss of lnv~stment in an .usociblc 198.96 258.)1 130.88 ◄ 57.Z, 15£.59 554.0l accounted for UliriJ (!quity m<!thcd and taic. (1·2) ~· •. Shue of net loss or lnvo~l~nt lo on .i,ssodata accounted (0.00) (0.00) (0.00) for using ~quity mt-thod • 5. Profil before lax (Jt4) 198.96 258.3 1 130.88 <57.21 256.59 554 ,0 3 6. T;ix t>xponscs : - Current tax: 42.30 58.57 3M6 100.&1 .u; 147.◄4 - Tax pertalotng to earlier ~,eaqs) (13.57) • Deferred 1axchugc/{benefit) 8.90 7.15 (1.HJ 16.05 M• (<.S&l Tot.al tlx ~xpenses 5\.20 6S.72 33.32 116,1J2 66.49 129.]t 7. Profit for tht: pcr10d/you (5•6) 141.16 192.59 97. 56 340.JS 150.10 ◄ 24.11 •. Othor comprehonslvt (lon)/lncomt Items th3t will net be redau!tled lo p1otlt or Ion Rerr.eamrement on post employment defined benefit (6.0,) (13. IS) (1.05) (19. 27) (1.12) (1.13) ph1ins • lncom~·ta:< eff~t on abovt! 1.5-4 3.31 0.26 -1.65 0.2a 0.29 Items th11l vi1tt be ,eclassffi~d to prorn or lon • Gain/ (ton) oo debt fn5lrurnent fl)C'~sured at lafr 0.02 (0.)5) (0.19) (O.n1 0.22 {0.18) v,1hte through otMr comprctwnslve: (l\<:otn~ • h'Kom?•Uxeffedo11at>o,·;:, 10.011 O.tO 0.0◄ o.o, (0.061 0.05 Tot~I other comprth~nslv~ (ton) ror lht> peri:>d/yc.>r (4.54) p0.1 2) \0.94) (14.66) (0.6") \0.97) .. Tot.ll compre-h~Mivc incorn,e for the period/ year (7.-8) 1 ◄ ).22 13U7 76.62 325.69 u, .◄ 2 42).75 10, Profit a\tdbutab!c to: (.)1 Owneu of the Partnt 147.)0 1'n.34 97.48 J40.0{ 189.71 42US {bl t,Jon-cor.trolllne l:tlcre1-t 0.06 0.2; o.oa 0.31 0.3) 0.44 1 ◄7.76 192.59 ?7.S6 3◄0.35 190.10 .. 2.c.12. 11. Othtr <omprchenstvt income ~llrlbu u1blc to: (ill Owner,: of'thc Parent {4.54) (10,121 (0.9◄) (14.661 (MS} (0.97) lb) Non,,outrot!ini intcres.t (◄ . 54) (10.12} (0.941 (1M61 (0.68) (0.97) 1l. Totat com-prchcnslvo incornt> a.tt(ibu t.blo lo: (10• tt) M OwMu of th~ Parcl\t 143.16 1H.22 96.$4 315.la 189.09 423.31 (b} Hon-co11trott!ng fnlerest o.o• 0.25 o.os 0.)1 0.33 0.44 1 ◄ 3 . 22 112.47 96.62 325.69 1 8 9 .◄ 2 423.75 13, Paid-Up ~quity s:h~rc c•pit:i.l {fact? va:lue -t10/· por sh•rc) 53.96 5).96 53.96 $).96 53.96 53.96 1,4, Other equity cxc:ludlnt rev.'lluatlon reserves 2166),S~ tS. Eunin8s- per ilure (EPS) {tfot annualised, <'X<cpt. for the year ended J1 March 2026) ((ace nlll'i? a( R~. 10/· per sharo) (i:) 8uic EPS lb) Ollulod EPS 27.37 lS.65 18.07 63.0l JS.17 76.6 ◄ l7,37 35.&5 18.07 6].02 35.17 7U◄ • 0.00 rep1('u:nts 1.1.mount !en thin, ~0,000/• .
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Unaudited Consolidated Balance Sheet as ~t JO St pl ember 2016 fAII •mnnh int crorc-) AHi ,., " JO Sopt•rnber l 1 March 2024 P•rtleulJrs 2026 (Un1udhed} t4udittdJ A ASSETS 1 Hort • CUHt'!Ol UHh !al Prop('fly, plant ,1nd equfpment 1,798.83 1,361.0S {b) Caplla\ \'lOfk•ln•prOireu 617.02 711.74 (c) Rl1ht•ot•use 11ue-ts: 177.&8 177.6S {dJ lnvHtment ptcperty 21.81 21.92 (e) Other fr.tangiN• anf!h 9.8] 10.JI (0 lnhntible i>'>\!?h un,lcr de'l'elopm,enl J .55 2.72 iii lnvestmtnt-ac.cotmltd fo< U$inJ equity method lhJ financial a~ts IIJ Investments 1n others 13.07 13.07 (ii) Oth!r fin1ncl.al aucts U.87 37.11 {fl ln::omi:-•ta:c: ,mets (nt!l} JS.◄ J S!.20 0) Other non,::urrenl aneB 218.4) 137 .1 ◄ Total non•currcnt 1meu 3 OJUS 2 610,9 1 2 Currient autts (1} Inventories 964.62 61S.H (b) ffnar\Clal aneu (It lnveitmer,u 106.12 369,69 1111 Trade rcceivablH HUO 219.01 (iiil c,nh iind uU1 cquivlltcnh 61,97 l◄ .23 (fv) &ank babncu othc, than (fiil abowi 17.JS 12,89 fY) Other fin•ncltl ench 2.20 1 3. ◄& le) Olher current ass~\!i' 112.) 7 220.71 Tot•l current ituets 1 981.0) 1 70U9 ) Assets clasdflcd ilS lie!ld fot s111e 0.10 0.2) TOT AL ASSETS 5,015.68 ◄ ,)16.Sl 8 EQUITY At/0 l lABlllTlf5 1 [qHlty (i) Equity shue capita! SJ,% Sl.9' (bl Other cqu:ty 2 ,9.119. ◄S 2,663.56 Equity atlribunbte to oWnfN of the Par~nl l,002 . ◄◄ 2,717.Sl {c> Non-c.ontroll1ng lntt!fests 8,79 us TOTAL EQUITY 3,011.23 2,726.)7 Lhb\lltlu 2 Uon•currc.nt liab!lltlcs (a) Ffn1nt fol U1bilftlcs (iJ eorrowin1s ◄22.0i 29).41 (If) Luse liatlllltlt l 33.ll ll.29 11>) Ptovhl:1ns 28.70 23.73 tel Oercrrcd t~,c trabllillc, (not) 67.8-'l IS.73 Total non-.currcnt tM.1Ullics 551.96 <407.tb J Curr~nt liabllitlt.s fa) Fina.nci•l Hiblllties IIJ 8orrowfngs 747.61 6)0.28 (Ii) l.cau:· lltblHtle-l 1. ◄ 2 0.56 (Ill; Trade p~yablts a) total ouhtand lnll d~s cf mk ro cnte:rprbts and Sffii'.l\t enlerp,hcs; rmd 13.51 )5.63 bl tot.at out,tandlnt cf..:es o( creditors other than ink:ro enterprhe, ◄ 17.26 2◄ 1.28 ind sm11l cutc1prh,s (Iv) OU'i!.'r lfn;)f\Clat llabilltles 138.&A 201,97 !bl Olhet current llabllltlel ◄J.97 28.17 {c} Prolisioos a.n IOA◄ (d) Current•LU liabilll~s (ne:l) 20.◄6 25.S7 Tot•l currcinl liabllitlas 1,45.2.49 1,183,00 To1al llabllllic$ 2 100◄ •◄ 5 1,590.16 TOTALEOUITV MlO LIABILITIES 5 015.6ft ◄ l1G.5J -- NIJI01, - \\Jl•:,U/11 . n '7.c ~..,::..-f'
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Un~uditod Consotldat,d Stclt('lm~nt of Crish flows for the six months ended 30 Sept<!mher :l.O:l.6 (AU :unouniJ i n t crori:) Portkul ars: Six months Six months cnd~d ~nd<!d 30 .September JO September 2026 2ozs I\Jnaudlt~d) (Unaudit0dl .. Ca~h flaw frvm opcr•ting actMt iQS Profi t before tax ◄ 51.7.1 25S.59 AdJustn~nts for: Deprc:clatlon and <i/Mrttsatkm CXJ)('OSC~ 50.39 2Y.92 (Gai~)/loss on disposal or propr,ty, plant and equ!pmerit 10.021 0, ◄l G~fn on ule of correot invEstrr,tr1ts 12,921 {11.681 Oafn on fair Yatu~t/on of curre{lt fov~,t1r,ents 17,591 i\3,) 61 Unreiilh ~d rorelin e-xchange loH (net) 20.6l \l.06 lnteren !Moine 16.Bl) (S.25! ffnMC~ COU I 26.82 15,10 Liabmties/provhlon no lon~r 1equl(ed, written back (0.021 Opr:utl n1 prom b~rarc wor.klni: capit,1 ch•mics 537.76 2114.79 Adjustm~nts for: tlncruse) in frade and other recclvi'>bies IS&.42) (l.'61 tlncreasetlll ecreio;,e fn lnwntod~s 11<9,28) 9~.59 Increase In u~de pay.-bles ar1d ot_htr tiabi!llies M .04 7.l! CaJh gonoratad from OJ>eratlons -410.10 l SIJ.70 lntorne·taxes paid 183.<1) 15!.Bll Het cuh g~nor.itcd rrom opc1o1t.lng actlviti~s (A} 326.63 ll0 .87 6. Cash flow from tnvcstl ni activitl e~ Purchase of propc-1ty, p!Mt arid equipment, other ioU n!iblc ;.uscts ;:md ,;u;!dilloM lo capital work·ln•l)(o;,es_s-nnd in\~ntlb!e aneh under detelopinent (adjust!!:d (or {)91.36) (262.67) capltat i.dvd:ices and cap it'&l <(edit-Or$} Proceeds from disposal or J)l'openy, plant and eq·.1ip1rnwl o.n 0.7 1 Puu:-hMe or n lrrcnt frwestments {)◄2.521 \l2&.671 Sa\e of current f1wes-tmMts 216.l7 25.2.50 {Increase} /decrease I!\ Ut..ed ~poS.ft$ {0.411 2.11 Interes t rece lv!!d 6.85 5.20 tkt c,:uh uicd In lnvest lni DictMUi:~ (0) (S!l.OOJ {328.72) C. C.ash flow from finandni :u:tMtl:u Procctds from non tllrrenl borrowfngs. 167.6◄ 7.17 r roc,eds from cwrtnl borrowing\ (nt!l of ,epa yment) 118.17 38.90 Principal pa)went of le ate Uab!llllts (0.231 {0.051 11\\c-r~sl and Hnar.cint charges paid 126.35) 11 ◄,6 SI !Merest on 1et1se paid 10.Sll [0.14! OMdend paid 140.791 127.671 Hct <csh sentorated from no~ntlng .actlvitic, · (C) 1.18.1 1 3.56 Uet ln.::re-aH? tn c.uha nd cuh t!QUivah:-nb (AtBtC} 31.74 5.11 Cuh and c.nh c.>quh1alonti at the bc.>slnntng oft.he yea r J◄.2) 7.26 C,uh and cuh enoivalcnls Al the end of the oeriod 65.97 12.97 Th~ Jt>o-.·e Statement of Ca~h Flows h;,-;. been prepared undtr the Indirect method 5et out In the lndlan Accounting SlMdard !Ind AS} 7, 'SUtement of Cash Ftowf. ,,r;_ .-~ 11\NOIO/r ,.....~ ""\ MUM\lAl Act~
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Put II : Cons0Hd1ted so1mcnt wist'-Revtnue. R,uults, .lucts and Liabilities (,\II unoun1sfo t ttorr) Threo months ended SIX month.i ended Ynr rnded P..11rtlculars JO Stpt~mbt!r 30 June lO September 30 September 3D Sept!lmbcr 31 .March 2026 2026 2026 2025 2026 2025 (Audlt<d) (Un•udih1d) 1un,udited> (Unaudited) (Unaudited) (Unaudited) 1. Segment revenue a) Ferro aUc~-s 9H.65 959.10 711,07 J/127, ◄ S 1,lSl.19 2,12 ◄.00 hi Power tl).14 130.16 152.57 263.)0 271.51 5 ◄ 2.61 c) UJnlog 159.41 17◄ .H 10>.J7 )33.75 17J,56 ◄60,71 d) Othen 0.◄9 0.42 0.60 0.91 1.27 2,26 Total 1, 160.69 1,26-C,72 9'7.61 2 ,SlS.◄ 1 1,111.ll 3,119.'5 less: Inter se11ment rl!'vtnl.Je 292.52 )0'-!7 258.96 5,6.79 ◄51.~ i 00).)4 Uet Income.- from opcr~tlons 961.17 960. ◄ 5 711.65 1 928.62 1,360, 19 2,826.31 ,. Se1mcnt re-suits a} ft.rro lllO}'I 220. ◄ 9 l&0.◄0 1'6.55 <90.89 2606 611.19 b) Pov,cr (o.65) (0.80) (1.27} ( 1 . ◄5) (2.36) (l.Bl) c l l,\inkl1 0.73 (1.19) (1.92) (0.46) (6.05) 0.1 ◄ dl Othcu (1.91) (0.121 (1.10) IUO) (2.57) 15,)9 1 Tol11il 211.59 257.59 f <2.26 -476.HI 153.81 602.21 ·flllillCt- (OSU: (14.)6) (12.461 <•·""' (2 ... 2) 111.101 (JS.66) •Othtr Ui'l•altocable uoendl~urc r.e:l of vn•a1toc3ble Income !5.271 13.11 f),291 7,91 17,81 (12,521 Total nront bC.'for• lax 191.96 258.)1 oo.ea ◄ 57.27 256.59 55◄ .03 3. Se1meot ,1.uC.'h: a) ferro 11Uo)'s 2,970.55 2,!◄! . 2◄ 1,251.62 2,970.55 1,251.62 2,562.61 b) Pc>\VU 542.88 557.16 533.55 5◄ 2.88 53).55 550.11 C) /.\foif1? SS0.69 475,19 .ll1.0◄ 560,69 3)1.0 •1 4'15.11 d) Others 157.88 139. ◄ 7 64.17 157.81 64,81 122.02 e) U11atiocattd 78).68 714.60 1,214.15 763.61 1,21 ◄ .&I 6l5.91 Tot1I se ~nt an"ls 5,015.61 .& 73 ◄ .U 3 395.96 5,015,61 ) ,)95,'6 ◄ 316.53 4. seamcnt lii\bllitlH aJ F"f!tto alloy.i 851.98 752.10 1'7.56 151,91 167.!16 519,35 bl Power 38.55 39.69 42,05 )S.55 41.05 )4,89 c) ,unln1 /6.12 11.74 76.76 7U2 76.76 107,61 d) OU1ers 15.11 ,3.82 1.16 75-27 1.i6 53.32 ~I Un-'11:Kattd 961.13 881,47 5!9. ◄ l 961.8) !89. ◄3 87◄..2 Tout st: mont l11blllllcs 2,00M5 l 825.82 876.9Ci 2,00◄.◄ 5 176 .96 1,590.16
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KOTES: 1. The u:1audfted consolld<'!led fim.1nc:lal resutts of Indian Net::ih Md ftmo Alloys Lhnlltd !the "Holding Company' 01 'tNFAI .lnd IH two subsidla.rlu, {lhe Holding Company and Its 1obsldf1t.d~i toseth!r reterrtd to a~ the 'C.roup'I &od in associate for the qu;utc, and six months ended 30 September 2026 huve been h~viewed by the Audit Committee and approved by IM' 5oard af Oittctors at their ,espec.tt\:e meetings _fleld 011 4 November 2026, TM 3tatutory auditors ol 1h!: Holding Comp<'>nY hnYe [.!!fried out n limited review o( l hc same. 2. The!c um111dited financial results. tliwe be~n pre-pated in iccordunce: with lhe recogn ition and rrea~ureme 11£ t.rfr,cfples tald -down lo Indian AcccuoUne ~lanUaul 3-41 lotetflll ffninclat Repo,ctlri; pre 1c:ribcd uncfrr ~edion 133 of the Companies Attf 20131 other 21e.counttng prtncfple1 gentra.Hy accepte d In India and I~ fn complianc~ wfth t~ presentatkm and dl1clo!.u1c rcQ\lltemtrits of fl.e1ullltion 33 o( the SHU {Lhting ObtigaUo;u nnd Dfscto.1ure F,equ!t~nts) Rcruh.11tioru1 2015 las arnendedl , 3. The M,rnfnaterl Aulho1lty, 11\lriistry of Coal. Go-vermnMt ot lndl11. thro ugh its P,O"l'fslorial Compen1a\lon Order dated 15 Oct0ter 2024, hi!ld directed Utkal Coil\ Limiled (UCL', cHtwhH~ subsidiary M the Hotd!ng Compan)' and thereafter m~fi~d Into the- Holding Comp.!lny), and the successful bidder to mutually ne5otia1e the compensation for boildfng(;) construc:ltrl on RehablHtatbn ;;.nd Resettlement (RUR} bnd re-lated to Utk.\ 'C' Coal /Aines. TM compemiilion for RllR aw~ti was mutuatty ~grt!t!d M , 7.00 crote, which has been rete ivtd fn ti'!! prevlOus fin.1r.dal )'ear, In tht previous years, UCL ha:d received comptnsat ion tor lhi: land and statutory expc-nsf:s. Oul of \his, lht compenutitm for land h<\1. bt:~n coMtsted by t11e succeu(ul atlottcc, ond the1c<lfter UCU lhe Ho\di!"lg Comp;my hu ahe> filed a cwrilc:1dafm ,eaud u'!g the sAid c.omp:nsutfon, The rnauer ls currenlty pendlns before the Coal Trlb!Jnnl, Tblc~f. -4. the 60:ird of Dir eel ors ot the Ho\din" Co1nµany a:t th~k rnectir19 Mid on 4 November 2026 hnc recommended llO irllt-rim dividend(? SO Si (' S/- pu equity s.hare o, face ..-~tue cir f 10 e1:1ch\. Place: nhubc1n~swar Datt>: 4 f~ ovember 2026 BB ,_:_t,; -· By ordt-r of the Bo;,rd For lltOIAH METALS AUD FERRO AllOY5 L TO SUBHRAKANT =..,. .. .,,... ....... PANDA o-.m"""'"'H"""" Subhrakant Ptnda IA1tno15los: Director DIU-00171845
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Walker Chandiok &_Co LLP Walker Chandiok & Co LLP 42nd Floor, Building Commerz Ill, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumba!-400063 T +91 22 6626 2699 Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directo rs of Indian Metals and Ferro Alloys Limi ted 1. We have reviewed the accompanying statement of unaudited consolidated financial results (the 'Statement') of Indian Metals and Ferro Alloys Limited (the 'Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as the 'Group'), and its associate (refer Annexure 1 for the list of subsidiaries and associate included in the Statement) for the quarter ended 30 September 2026 and the consolidated year to date results for the period 01 April 2026 to 30 September 2026, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'). 2. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 (the 'Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143( 1 O) of the Act, and consequently , does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable. Chartc.rcd Accouolants Offices in Ahrnedabad, Bengaluru, at-,ubane:.war. Chandigarh, Cher.nai, Dehradua, Goa, Gurugram, Gui.'/,ihaU, Hyderabad, Indore, Kochi, Kolkata, Mumbai, New Deihl, Nolda an.d Pune W.-ilker Chandtok & Co LLP is registered with limited ~.ibility Yi.th iden1if.c3fi0n number AAC•?.085 and has Its registered oli!U all•◄ 1, Connaughl Circus, Out.:ir Circle, NcwOe ihi, 110001, India
Page 16
Walker Chandiok &.Co LLP Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of Indian Metals and Ferro Alloys Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) 4. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of the other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We did not review the interim financial results of two subsidiaries included in the Statement, whose financial information reflects total assets of ~ 42.18 crore as at 30 September 2026 and total revenues of~ 0.54 crore and~ 1.09 crore, total net profit after tax on 0.12 crore and~ 1.23 crore, total comprehensive income of ~ 0.12 crore and i{ 1.23 crore, for the quarter and six-month period ended 30 September 2026, respectively, and net cash outflows of i{ 0.09 crore for the period ended 30 September 2026, as considered in the Statement. These interim financial results have been reviewed by other auditors whose review reports have been furnished to us by the management. and our conclusion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the review reports of such other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the reports of the other auditors. 6. The Statement includes the Group's share of net loss after tax of i{ Nil and i{ Nil, and total comprehensive loss of ~ Nil and i Nil for the quarter and six-month period ended 30 September 2026, respectively, in respect of one associate, based on their interim financial results, which has not been reviewed by their auditor, and has been furnished to us by the Holding Company's management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this associate, is based solely on such unreviewed interim financial results. According to the information and explanations given to us by the management, these interim financial results are not material to the Group. Our conclusion is not modified in respect of this matter with respect to our reliance on the financial results certified by the Board of Directors. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076NIN500013 Digitally signed Rajni byRajniMundra Oate: Mundra 2026.11.0• 13:48:40 +05 '30' Rajni Mundra Partner Membership No. 058644 UDIN 26058644GRF FRG3873 Place: Mumbai Date: 4 November 2026
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Walker Chandiok &_Co LLP Annexure 1 to the Independent Auditor's Review Report on Consolid ated Unaudited Quarterly Financial Results and Year to Date Results of Indian Metals and Ferro Alloys Limited pursuant to the Regulation 33 of the SEBI (List ing obligations and Disclosure requirements) Regulation s, 2015 (as amended} Annexure 1 List of entities included in the Statement Name of the entitv Relationshin IMFA Allovs Finlease Limited Subsidiarv Metallix Aviation Private Limited Subsidiarv Ferro Chrome Producers Private Limited Associate (This space has been intentionally left blank) ChilrtereJ k counl.lt,I~ .... ~::;::; / ·xl/\N ~ G_.,_--.._ ,.,- MUMB ...___ lrfo AC
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imfa IMFA Building Bhuhaneswar -751010 Odisha. India INDIAN METALS & FERRO ALLOYS LIMITED Annexure-11 Corporo;tel~~ ~- I d • • d E h d f d" (L" t· L2?1010BJS6lPL~ •sc osure un er Securities an xc ange Boar o In Ia Is mg Obligations and Disclosure Requirements) Regulations, 2015 read with TEL:;! :!!~~~= SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/l/3762/2026 FAX +916742sso02odated January 30, 2026 +91 674 2580145 mail@i.mfa.in Sr. Particulars Details No. www.imfa.in a) The name of the target NAME OF THE TARGET ENTITY: entity, details in brief such Metallix Aviation Private Limited as size, turnover etc . (hereinaf ter referred as "WOS") (CIN: U511000D2025PTC049963) DETAILS: Authorised Capital: Rs.25,00,00,000/- divided into 2,50,00,000 equity shares of Rs. 10 each Paid Up Capital: Rs. 5,00,00,000 divided into 50,00,000 equity shares of Rs. 10 each b) Whether the acquisition RELATED PARTY TRANSACTION: would fall within related Yes party transaction(s) and whether the promoter/ INTEREST OF promoter group/ group PROMOTER/PROMOTER companies have any interest GROUP /GROUP COMPANIES IN in the entity being acquired? TARGET COMPANY: Yes, to the If yes, nature of interest and extent of their respective details thereof and whether shareholding. the same is done at "arm's length" NATURE OF INTEREST: Wholly Owned Subsidiary ARM'S LENGTH BASIS: Yes c) The industry to which the Aviation entity being acquired belonqs d) The objects and impact of To enable the WOS to acquire the acquisition (including but aviation assets of the Company and not limited to, disclosure of align the tangible assets in the books reasons for acquisition of of the Company with the core target entity, if its business business. is outside the main line of business of the Company) e) The brief details of any NA governmental or requlatorv
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imfa IMFA Building Bhubaneswar - '151010 Odisha.lndia N~ .ColpotGle Idenlity L2710l0Rl961P ,r rnnrui~ TEL +91 674 26 lloot 25801"' +91674 FAX +91 674 25 +91674 8002( 25801~ mail@imfa.in www.i.mfa.in f) g) h) i) j) INDIAN METALS & FERRO ALLOYS LIMITED approvals required for the acquisition; The indicative time period NA for completion of the acquisition of shares; The nature of consideration Cash - whether cash consideration or share swap and details of the same The cost of acquisition or Rs. 25,00,00,000/- the price at which the 2,50,00,000 equity shares at a face shares are acquired; value Rs. 10/- each (Investment to be done throuah Riahts Issue) The percentage of 100% shareholding / control acquired and / or number of shares acquired; Brief background about the BACKGROUND: Metallix Aviation entity acquired in terms of Private Limited was incorporated as a products/line of business Wholly owned Subsidiary of Indian acquired, date of Metals and Ferro Alloys Limited. incorporation, history of last 3 years turnover, country in DATE OF INCORPORATION: 23rd which the acquired entity July 2025 has presence and any other significant information (in PRESENCE OF ENTITY: India brief) LAST 3 YEARS TU RN OVER: FY 2025-26 - NIL FY 2024-25 - NA FY 2023-24 - NA
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iinfa JMm Building Bhuhaneswar - 751010 Odisha. India Corpmate Identity No. L271Dl0 Bl961PLC000428 TEI. +91 674 2611000 +91 674 2580100 FAX +91 674 258002.0 +916742580145 mail@imfa.in www.imfa.in INDIAN METALS 8! FERRO ALLOYS LIMITED Annexure-111 Audit Committee Name of Members Category Dr Deepak Kumar Mohanty, Chairperson Non-Executive Independent Mrs Latha Ravindran Non-Executive Independent Mr Bijayananda Mahapatra Executive Non- Independent Stakeholders Relationship Committee Name of Members Category Mr Partha Satpathy, Chairperson Non-Executive Independent Ms Kiran Dhingra Non- Executive Independent Dr Deepak Kumar Mohanty Non- Executive Ind ependent Finance Committee Name of members Category Mr Subhrakant Panda, Chairperson Executive Non-Independent Mr Partha Satpathy Non-Executive Independent Dr Deepak Kumar Mohanty Non- Execut ive Independent Allotment Committee Name of members Category Mr Partha Satpathy Non-Executive Independen t Mr Bijayananda Mahapatra Executive Non-Independent Ms Kiran Dhingra Non- Executiv e Independent
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imfa IMFA Building Bhubaneswar - 751010 Odisha, India Corporate Identity No. INDIAN METALS & FERRO ALLOYS LIMITED 4th November 2026 L27l01ORl961PLC000428 ~-------- j The Deputy General Manager ( Corporate Services) TEL +91 6742611000 +91 674 2580100 FAX +916742580020 +91 674 2580145 mail@imfa.in www.imfa.in The Listing Department National Stock Exchange of India Ltd. Exchange Plaza Plot No.C/1, G. Block Bandra-Kurla Complex Bandra (E) Mumbai-400051 Stock Symbol & Series : IMFA, EQ BSE Limited Floor 25, P.J. Towers Dalal Street , Fort Mumbai-400001 Stock Code : 533047 Sub: Press Release of Unaudited Financial Results and Investor presentation for the quarter and half year ended 30th September, 2026. Dear Sir, We are enclosing herewith copy of the Press Release and Investor presentation of Unaudited Financial Results for the quarter and half year ended 30th September 2026, which may kindly be taken on record. Thanking you, Yours faithfully For INDIAN METALS & FERRO ALLOYS LIMITED ..s~~~r (Saunak Gupta) Chief Financial Officer Encl: As above.
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BSE: 533047| NSE: IMFAEQ | SECTOR: Ferro Alloys, Mining, Power Earnings Release | Q2 & H1FY27 IMFA announces robust Q2 FY27 results, Higher volumes reflect increase in capacity Editor’s synopsis • Q2 FY27 revenue at ₹968.17 crore vs ₹718.65 crore in Q2 FY26, registering a YoY growth of 34.72% • Q2 FY27 EBITDA at ₹ 235.04 crore vs ₹138.34 crore in Q2 FY26 , reflecting a tighter operating environment even as IMFA remains resilient on account of its fully integrated business model • Q2 FY27 PAT at ₹148.77 crore, up 50.62% YoY vs ₹98.77 crore in Q2 FY26 • H1 FY27 revenue stood at ₹ 1928.62 crore (vs ₹1360.19 crore in H1 FY26) , EBITDA at ₹516.31 crore (vs ₹263.81 crore in H1 FY 26), and PAT at ₹340.26 crore (vs ₹190.25 crore in H1 FY 26) • Kalinganagar Greenfield Project inaugurated, taking total installed capacity of ferro chrome to 534,000 tpa and reinforcing IMFA’s position as India’s largest producer ; commissioning activity relating to the second furnace has commenced and hot metal tapping is expected soon • Board approves ₹375 crore capex for increasing chrome ore raising and Low Carbon Ferro Chrome production Bhubaneswar, November 4th, 2026: Indian Metals & Ferro Alloys Ltd (IMFA), India’s largest producer of value- added ferro chrome, reported revenue of ₹968.17 crore, EBITDA of ₹235.04 crore and profit after tax (PAT) of ₹148.77 crore for the quarter ended 30 September 2026. Performance during the quarter was supported by higher volumes on account of increased capacity, alongside continued progress on energy diversification and operational efficiency. Exports, a key contributor to IMFA’s business, stood at ₹ 817.54 crore in Q2 FY27 as compared with ₹603.96 crore in Q2 FY26. For H1 FY27, exports stood at ₹1611.15 crore as compared with ₹1160.22 crore in H1 FY26. IMFA’s Greenfield Project at Kalinganagar (KNR 1) was formally inaugurated by the Hon’ble Chief Minister of Odisha Shri Mohan Charan Majhi on 14 October 2026 . While the first furnace is operational, commissioning activity relating to the second furnace has commenced and hot metal tapping is expected soon. With this, the company’s total installed capacity will increase to 534,000 tonnes per annum reinforcing its position as India’s largest producer of ferro chrome and amongst the foremost globally. Financial Performance (Rs in Crore) Performance indicators Q2 FY27 Q1 FY27 Q2 FY26 H1FY27 H1FY26 FY26 Revenue 968.17 960.45 718.65 1928.62 1360.19 2826.31 EBITDA 235.04 281.27 138.34 516.31 263.81 587.23 PAT 148.77 191.49 98.77 340.26 190.25 424.36 Exports 817.54 793.61 603.96 1611.15 1160.22 2396.21
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BSE: 533047| NSE: IMFAEQ | SECTOR: Ferro Alloys, Mining, Power Earnings Release | Q2 & H1FY27 Operational Highlights Management Comment Commenting on earnings Mr Subhrakant Panda, Managing Director said, “While keeping our focus on a fully integrated business model that remains resilient and competitive across market cycles, a substantial expansion in smelting capacity after the commissioning of the Kalinganagar Greenfield Project will cater to rising demand. We also remain confident about supportive ferro chrome prices given cost pressures faced by non-integrated producers. Alongside capacity growth and a shift to hybrid renewable energy, production of niche grades and a proposed diversification into Low Carbon Ferro Chrome will broaden the product range and bolster margins. Our aim remains to grow responsibly, supported by our distinctive strengths.” About IMFA Indian Metals & Ferro Alloys Ltd (IMFA), incorporated in 1961 and headquartered in Bhubaneswar, Odisha, is the country’s largest fully integrated producer of value-added ferro chrome with an installed capacity of 355 MVA capable of producing 534,000 tonnes per annum (tpa). The company operates captive chrome ore mines at Sukinda and Mahagiri along with manufacturing complexes at Therubali, Choudwar and Kalinganagar , and captive power generation capacity comprising 200 MW coal -based and 4.55 MWp solar. Its operations are benchmarked to international standards and are ISO 9001 (Quality Management Systems) certified. Chrome ore requirement for the enhanced smelting capacity will be entirely met from the company’s captive chrome ore mines and supported by hybr id renewable power. As part of its diversification strategy, a 120 kLD grain-based ethanol plant is being set up at Therubali, Odisha. Contact details: IMFA Investors & Media Relations – Adfactors PR Saunak Gupta Chief Financial Officer saunakgupta@imfa.in Vaibhav Gupta vaibhav.gupta@adfactorspr.com Vishal Bhalada vishal.bhalada@adfactorspr.com Mansi Pasari mansi.pasari@adfactorspr.com Supreet Ahuja supreet.ahuja@adfactorspr.com Surabhi Shah surabhi.shah@adfactorspr.com Performance indicators Q2 FY27 Q1 FY27 Q2 FY26 H1FY27 H1FY26 FY26 Ferro Chrome production (Tonnes) 86,652 80,690 65,671 167,342 131,600 267,301 Ferro Chrome sales (Tonnes) 81,998 79,268 69,765 161,265 136,345 270,124 Power generation (Million Units) 301 289 309 589 588 1138 Chrome Ore raising (Tonnes) 144,697 272,555 169,615 417,253 273,395 810,612