Indian Metals & Ferro Alloys Limited — Others, 21-05-2025: Appointment

Indian Metals & Ferro Alloys Limited has announced a board meeting on approving the financial results for the quarter and half-year. The company reported standalone revenue of ₹2564.57 Cr and profit before tax of ₹512.04 Cr for the year. A final dividend of ₹2 per share is proposed, subject to shareholder approval. Key appointments include re-appointment of Mrs. Latha Ravindran and appointment of Ms. Kiran Dhingra as Independent Directors, along with new Secretarial and Cost Auditors for five years. The board approved forming a wholly owned aviation subsidiary, Metallix Aviation Private Limited, to enter the aviation sector. Subsidiary Utkal Coal Limited merged into the company, with ongoing compensation claims related to coal block allotment. Overseas subsidiary Indmet Mining Pte Ltd was dissolved due to unresolved mining concession issues. Agreements were signed to acquire 110 MW of hybrid renewable power. Depreciation method shifted to straight line from October 2023, affecting comparability. The company is awaiting clarity on potential levy demands following a Supreme Court ruling on mineral-bearing land.