Indian Metals & Ferro Alloys prepaid a term debt of Rs 181 crore as on date and after the payment of normal installments in Q3 FY22, the firm's long term debt will reduce to Rs 143.94 crore to become net debt free.
Odisha-based ferro chrome manufacturer Indian Metals & Ferro Alloys' consolidated net profit soared 228.6% to Rs 143.71 crore on a 49.3% surge in net sales to Rs 653.16 crore in Q2 FY22 over Q2 FY21.
Shares of Indian Metals & Ferro Alloys rose 0.04% to Rs 884.80 on BSE. Indian Metals & Ferro Alloys primarily produces ferro alloys, including charge chrome (high carbon ferro chrome), and has an installed furnace capacity of 190 MVA (284,000 MTPA) in its two plant sites at Therubali and Choudwar, in Odisha. The company's operations are supported by a 200-MW captive thermal power plant at Choudwar, captive chromite mines and a 4.5-MW solar power plant.
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