Indian Metals & Ferro Alloys LtdNSE:IMFA
Current view Q4 2026
Low-cost maker of a key stainless-steel ingredient. Nearly doubling output via a bought Tata plant plus a new one, right as global prices spike. Genuine growth, reasonably priced; watch for delays.
Latest exchange filings last 5 · 5 after Q4 2026
- 16 Sep ’26IMFA to attend Anand Rathi Annual Flagship Group Meeting G-200 Summit 2026 on September 21, 2026, Mumbai. ↗
- 11 Sep ’26Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 11 Sep ↗
- 10 Sep ’26Postal ballot passed appointing Dr Deepak Kumar Mohanty and enhancing independent directors’ commission from FY27. ↗
- 8 Sep ’26Partha Satpathy appointed Additional Independent Director from 8 September 2026 for three years, subject to shareholder approval. ↗
- 25 Aug ’26First tapping of hot metal began at Kalinganagar KNR-1 greenfield ferro chrome project on 25 August 2026. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +34.6% | +8.5% | +1.8% | +8.9% |
| Operating profit | ▲ +123.9% | −3.0% | +9.5% | +11.0% |
| EPS | ▲ +118.1% | −21.4% | +23.5% | +20.6% |
| PAT | ▲ +119.2% | −21.4% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +34.6%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Weak33/100
⚠ Your own view here is Positive, and the figures are not. The note above is where the reason lives; the score only sees the numbers.
Growing fast — and the market has noticed. Profit per share grew 24% a year, and buyers now pay more for each rupee of it than they did a year ago. Some of the re-pricing has already happened.
₹1,208 → ₹2,416 needs the P/E at 16× — it is 15× today, and has ranged 2.4× to 24× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 24× — never traded above 24× in 5 years.
At ₹738 the price-tag on its earnings reaches the 9.4× it is being projected toward — the point where being cheap against that yardstick is used up.
Re-rated already, on growth that doesn't fully back it.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a small-cap at ₹6,700 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 23.5% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Mining & Minerals · 6 of 9 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Indian Metals | ₹1,262 | 13.0× | ₹6,806 Cr | 18.4% | +108.4% | +49.7% |
| Maithan Alloys | ₹1,015 | 10.2× | ₹2,955 Cr | 7.7% | −26.7% | −14.7% |
| VISA Chrome | ₹31 | — | ₹452 Cr | -5.6% | −320.8% | −29.6% |
| Nilachal Carbo | ₹125 | 29.5× | ₹311 Cr | 14.5% | — | — |
| Jainam Ferro | ₹216 | 37.5× | ₹253 Cr | 7.0% | −47.2% | −9.1% |
| Nagpur Power | ₹174 | — | ₹228 Cr | 0.9% | −141.0% | +9.6% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — a little wider than 3 years earlier | operating margin 25% → 29% over 3 years |
|---|---|---|
| Did the profit turn into cash? | more than all of it — reserves released cash too | 77% last year, 106% over three · free cash flow −₹1,016 cr, positive in 4 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹958 cr — 0.35× its own equity (was 0.17×) |
| Is it being collected? | collection is steady | 31 days to collect, up 15 in a year · cash cycle 218 days |
| Who has been buying? | the promoters have held steady | promoters 58.7%, 58.7% → 58.7% over 2.8 years · FIIs 3.6% (+0.2) · DIIs 0.9% (+0.7) · shareholders 42,947 → 55,347 |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 18.4% · ROE 16.8% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company is expected to give good quarter
- Company has delivered good profit growth of 21.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 18.7%
- Company's working capital requirements have reduced from 41.8 days to 13.7 days
Against it
- The company has delivered a poor sales growth of 8.91% over past five years.
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.