Indian Metals & Ferro Alloys tanks after posting poor Q4FY18

Indian Metals & Ferro Alloys standalone revenue for the quarter came in at Rs. 443.27 crore, registering 25.4 per cent yoy decline. This was primarily driven by around 26 per cent yoy decline in ferro alloys.

EBITDA for the quarter fell by 76 per cent yoy to Rs. 65.54 crore with a corresponding margin contraction of 3117 bps. EBITDA margin for the quarter stood at 14.8 per cent. This margin contraction was led by higher input cost in proportion to sales.

The PAT for the quarter came in at Rs. 4.9 crore, yoy decline of 97.2 per cent. This was partly due to Rs. 2.86 crore loss from other source as against other income of Rs. 36.55 crore.

The board of directors have recommended a final dividend of Rs 10/- per equity share of Rs 10/- each subject to approval of the shareholders.

In response to this result, the stock of Indian Metal & Ferro Alloys tanks almost 17 per cent to touch intra-day of Rs. 360. The stock was close at Rs. 367.65 per share, down by 14.98 per cent.