Indian Metals & Ferro Alloys to acquire Tata Steel’s Odisha ferro alloys plant for ₹610 crore

Indian Metals & Ferro Alloys Ltd (IMFA), one of India’s leading producers of ferro alloys, has announced a major expansion step by acquiring Tata Steel’s ferro alloys plant in Odisha for ₹610 crore, plus applicable GST. The acquisition is structured through an Asset Transfer Agreement (ATA) and includes the assets and related interests of the plant.

The transaction aligns with IMFA’s strategic plan to boost production capacity and efficiency in its ferro alloys division. According to the company, the Odisha plant’s proximity to IMFA’s captive mines and its upcoming greenfield project in Kalinganagar offers strong locational advantages and cost synergies. This move is expected to enhance IMFA’s ability to serve both domestic and export markets more effectively.

The acquisition is expected to be completed within three to six months, subject to regulatory and statutory approvals, and the fulfillment of terms under the agreement. IMFA stated that the deal reflects its long-term vision to consolidate its leadership position in India’s ferro alloys segment and capture emerging opportunities in the steel value chain.

Alongside this strategic announcement, IMFA reported its financial results for the second quarter of FY26. The company posted a standalone net profit of ₹98.77 crore, marking a 21.4% decline from ₹125.72 crore in the corresponding period last year. However, its revenue from operations rose 3.86% year-on-year to ₹718.65 crore, driven by steady growth in the ferro alloys segment.

Additionally, the board of directors declared an interim dividend of ₹5 per equity share for FY26. The record date for the dividend is set for November 11, 2025, and the payment will be made on or before December 3, 2025.

With this acquisition and consistent operational performance, IMFA aims to strengthen its foothold in India’s rapidly growing ferro alloys industry and enhance long-term shareholder value.