Indian Metals & Ferro Alloys Ltd (IMFA) has outlined expansion plans across its ferro chrome and ethanol businesses, with key targets set for the financial year 2025–26 (FY26). The company aims to increase ferro chrome production capacity and diversify into ethanol manufacturing, while also scaling up chrome ore mining in the longer term.
At its Kalinganagar facility, IMFA is adding 100,000 tonnes per annum (TPA) of ferro chrome capacity in Phase I of its expansion, which is scheduled for completion by mid-FY26. An in-principle approval has also been granted for a second phase that would add another 200,000 TPA.
In parallel, the company plans to commission a 120 kilolitres per day (KLD) ethanol plant in the first quarter of FY26. The project is expected to contribute INR 3 billion to revenue and generate 8–10 percent of EBITDA. IMFA has indicated that future capacity enhancements for ethanol production are under internal review. The company plans to utilize existing land and raw material handling infrastructure to support the new facility.
On the mining front, chrome ore output is planned to be scaled up in two phases—reaching 0.9 million TPA by FY28 and further increasing to 1.2 million TPA by FY31.
IMFA is a producer of ferro chrome with integrated operations that include captive mining and power generation. The company operates manufacturing facilities in Odisha.
As of July 2025, IMFA operates fully integrated ferro chrome production units with a total installed capacity of 284,000 TPA. In FY25, the company produced 260,000 TPA of ferro chrome, accounting for approximately 25 percent of India’s total output. It also holds an environmental clearance for 1.2 million TPA of chrome ore, with 0.7 million tonnes mined during FY25.
The company has 204.5 MW of power generation capacity, including 200 MW of coal-based and 4.5 MWp of solar power, largely used to support its ferro chrome operations. An additional 110 MW of hybrid renewable capacity is under development.
All major facilities—ferro chrome plants, chrome ore mines, and power generation units—are located in Odisha. The Kalinganagar site hosts the flagship ferro chrome plant and the ongoing capacity expansion, while the Sukinda Valley houses the company’s mining operations. IMFA’s registered and corporate office is located in Bhubaneswar, Odisha.