Indian Metals & Ferro Alloys Limited — Others, 21-05-2025: Change in Auditors

Indian Metals & Ferro Alloys Limited has announced a board meeting to approve the financial results for the quarter and half-year. The company reported standalone revenue of ₹2,564.57 Cr with a profit before tax of ₹512.04 Cr and net profit of ₹378.09 Cr. A final dividend of ₹2 per share is proposed. Board approved re-appointment of Mrs. Latha Ravindran as Independent Director and appointed Ms. Kiran Dhingra as Additional Independent Director, subject to shareholder approval. New Secretarial and Cost Auditors were appointed for FY2025-26. A wholly owned subsidiary, Metallix Aviation Private Limited, will be incorporated to enter the aviation business. Amalgamation of subsidiary Utkal Coal Limited was completed; compensation related to its coal block is disputed but pending resolution. The company signed agreements to acquire 110 MW of hybrid renewable power capacity. Depreciation method shifted to straight-line, affecting comparability. Its Singapore subsidiary Indmet Mining Pte Ltd has been dissolved. No pending mineral levy demands exist, though clarity on potential liabilities is awaited.