IMFA Gets Kalinganagar Project Clearance; Shares Fall 0.69%

Mumbai July, 24: Indian Metals & Ferro Alloys Limited has received the Consent to Operate and factory licence for its greenfield ferro chrome expansion project at Kalinganagar in Odisha, clearing the way for the company to begin commissioning the facility.

The regulatory approvals mark an important transition for the project from construction and approval stages towards operations. In an exchange disclosure dated July 24, 2026, IMFA said it would begin the process of switching on the first furnace next week.

The company expects the first tapping of hot metal around August 15-20, 2026. It said a further update would be provided as the project moves towards that milestone.

The Kalinganagar expansion is a greenfield ferro chrome project, and the latest clearances allow IMFA to proceed with operationalisation of the new capacity. The company did not provide additional production or financial guidance in the latest disclosure.

Stock Market Snapshot

Indian Metals & Ferro Alloys share price was trading at ₹1,327.10 as of 11:31 AM IST on July 24, 2026, down ₹9.20, or 0.69%, according to the market data provided.

The stock came under pressure during the first half of the session, falling from above ₹1,320 to around ₹1,303 before recovering. Buying subsequently helped the counter regain ground, with the shares moving back above ₹1,320 towards late morning.

Despite the recovery from the day’s lower levels, the stock remained in negative territory at the quoted timestamp.

Indian Metals & Ferro Alloys Company Background

Indian Metals & Ferro Alloys is an integrated producer of ferro chrome, an alloy primarily used in the manufacture of stainless steel.

The company has mining and ferro alloy operations in Odisha. Its business integrates access to chrome ore with ferro chrome production, while the Kalinganagar greenfield expansion is intended to add to its manufacturing footprint.

Operationalisation of the new project will now depend on the commissioning process and successful start-up of the furnaces, with the first hot metal tapping serving as the next key project milestone.

Conclusion

Receipt of the Consent to Operate and factory licence removes key regulatory requirements ahead of commissioning at IMFA’s Kalinganagar greenfield ferro chrome expansion.

The company plans to start switching on its first furnace next week and expects the first hot metal tapping around August 15-20, 2026. Meanwhile, IMFA shares were down 0.69% at ₹1,327.10 as of 11:31 AM IST on July 24, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/IMFA/Indian-Metals-&-Ferro-Alloys-Limited
• https://nsearchives.nseindia.com/corporate/IMFA_24072026094819_Update_on_Greenfield.pdf