Indian Metals & Ferro Alloys eyeing Rs 1,600 crore turnover in FY15

Indian Metals & Ferro Alloys (IMFA) is forecasting a turnover of about Rs 1550-1600 crore, an increase from FY14’s Rs 1300 crore. The company expects realizations to improve in the second half of the year. The company has registered the highest ever ferrochrome production of 198,000 tonne in FY14 and the guidance for FY15 is of about 230,000 tonnes. Indian Metals & Ferro Alloys is primarily involved in the production of ferro alloys including charge-chrome (high-carbon ferro-chrome), and has an installed furnace capacity of 157 MVA in its two units in Therubali and Choudwar districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.