IMFA

steps into the ethanol era 🚀

Indian Metals & Ferro Alloys

is investing about ₹160 crore into a 120 KL/day grain-based ethanol plant in Odisha, expected to go live by Q1 FY26. Once operational, the ethanol business is estimated to contribute 8–10% to IMFA’s consolidated EBITDA. Brokerage estimates indicate annual revenue of ~₹300 crore from this vertical, with EBITDA margins of 8–10%, translating to a steady ₹24–30 crore EBITDA annually. This move diversifies IMFA beyond ferro alloys, strengthens earnings stability, and aligns perfectly with India’s green-energy and biofuel expansion strategy.