30 per cent dividend
State-based Indian Metals & Ferro Alloys ltd (IMFA), India’s leading fully integrated producer of value-added Ferro Chrome with capacity of 275,000 tonnes per annum, has reported the highest ever turnover and export figures for the Financial year 2013-14.
Consequently it has achieved growth of 21 percent in Earning Before Interest Depreciation and Taxes (EBIDTA) for the period . Subhrakant Panda, Managing Director & CEO of IMFA said that the results are all the more significant in the backdrop of the challenging economic conditions.
The Board of Directors have recommended dividend of 30% (Rs 3 per share) for FY14.
Some other aspects of the performance are revenue increase of 3.5 per cent and increase in exports by 10 percent. It also has achieved a Net profit of Rs 3.95 crores against a loss of Rs 11.39 cr in the previous year.
Imfa also has started the trial production at the low Density Aggregate (lDA) plant to gainfully utilise fly ash from the captive power plants. lDA is an eco-friendly substitute for stone chips used in construction and is being produced in India for the first time.
Panda said that it is a demonstration of the company’s pioneering spirit and commitment to the environment.