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Indian Metals & Ferro Alloys Ltd.

BSE: 533047 | NSE: IMFA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE919H01018 | SECTOR: Mining & Minerals

BSE Live

Dec 03, 16:00
754.20 0.45 (0.06%)
Volume
AVERAGE VOLUME
5-Day
6,483
10-Day
13,688
30-Day
7,111
2,345
  • Prev. Close

    753.75

  • Open Price

    754.05

  • Bid Price (Qty.)

    759.00 (10)

  • Offer Price (Qty.)

    759.15 (1)

NSE Live

Dec 03, 15:46
755.75 2.95 (0.39%)
Volume
AVERAGE VOLUME
5-Day
34,998
10-Day
65,226
30-Day
39,484
19,642
  • Prev. Close

    752.80

  • Open Price

    756.00

  • Bid Price (Qty.)

    755.75 (10)

  • Offer Price (Qty.)

    0.00 (0)

Company History - Indian Metals & Ferro Alloys
YEAR                       EVENTS
 1961 - The Company was incorporated on 20th November, in Orissa. 
 The
        Company's objects is to manufacture ferro silicon.
 
      - The company entered into a technical consultation agreement
 with
        Electrokemisk A/S, Oslo, Norway for the supply of necessary
        equipment, drawings and technical know-how.
 
 1966 - 3,88,300 No. of equity shares reserved for allotment
 (including
        1,65,000 No. of equity shares for the Industrial Development
        Corpn. of Orissa Ltd.) and the balance offered to the public
 in
        December 1963.
 
 1969 - Arrears: Rs.4,625.
 
 1974 - Indian Metals & Carbide Ltd., a company established for the
        manufacture of silicon carbide, became a subsidiary of the
        company with effect from 16th October.
 
 1978 - Kalinga Tubes Ltd., became a subsidiary of the company with 
        effect from 1st July.
 
 1979 - Kalinga Tubes Ltd., was amalgamated with the company with
 effect
        from 1st January.
 
 1982 - 19,729 No. of equity shares allotted without payment in cash
 to
        members of Kalinga Tubes Ltd. on its merger with the company.
 
 1983 - The licence for manufacture of 3,000 tonnes per annum of
 silicon
        metal was re-endorsed, increasing the same to 4,900 tonnes per
 
        annum.
 
 1985 - Permission from Govt. was received for the manufacture of
 ferro 
        chrome, based on the process developed by the R & D unit of
 the
        company.
 
 1990 - Prices in the International market were unremunerative which
 lead
        to the closure of 100% EOU.
 
 1992 - As at 31st March, the company held 1,90,000 No. of equity
 shares 
        of Rs.10 each out of 2,49,998 shares issued by the
 subsidiary.
 
 1994 - 34,30,374 bonus equity shares allotted in prop. 6:1.
 
 1995 - 20,01,152 bonus equity shares issued in prop. 1:2.
 
 1996 - Operations of the company were adversely affected due to 
        depressed market condition specially that of charge chrome,
 the
        market prices for which showed a steep decline.  Production
 also
        remained unsatisfactory due to labour unrest followed by a
 strike
        for about 4 months.
 
      - 60,03,255 bonus equity shares issued in prop. 1:1.
 
 1997 - The labour problems in the company's mines were sorted out. 
        Production of chrome improved marginally to 22787 tonnes
 compared
        to 22205 tonnes in the previous year.
 
      - During the year under report, the Company issued bonus equity
        shares aggregating to Rs. 600.33 lacs to the existing
        shareholders in the ratio of one equity share for every one
 share
        held in tens of the resolution passed by the shareholders on
 21st
        January.
 
      - During the year under report the operations of the Company
 were
        adversely affected due to depressed market conditions both
        domestically as well as internationally specially that of
 charge
        chrome, the market prices for which showed a steep decline. 
 
      - The Company has received a certificate to the effect that
 their
        re-appointment, if made, shall be within the limits
 prescribed
        u/s. 224(1B) of the Companies Act, 1956.
 
      - In the larger interest of the society it has installed a Gas
        Cleaning Plant which shall reduce the stack emissions to a
        negligible level.
 
      - The company has also laid utmost importance on on job
 training
        and had opened avenues for exposure to state-of-art
 technology
        prevailing elsewhere in the world pertaining to ferro alloys
        operation for its manpower at different levels.
 
 1998 - The Company has given corporate guarantees to financial
        institutions and a consortium of banks in respect of the
 loans
        sanctioned by them to Indian Charge Chbrome Limited.
 
      - 1,14,34,781 number of shares were issued as fully paid bonus
        shares by capitalisation of General Reserves.
 
      - The Company has received a certificate to the effect that
 their
        re-appointment, if made, shall be within the limits
 prescribed
        u/s. 224 (1B) of the Companies Act, 1956.
 
 1999 - The production activities at the Company's plants remained
        disrupted due to restricted power supply by ICCL caused due
 to
        heavy grid fluctuation because of which ICCL could not export
        power to the grid.  Consequently the production levels in
 terms
        of volume declined substantially during the year as compared
 to
        the previous year.
 
      - The company has implemented hi-tech computerised equipments
 in
        process control areas to ensure that the end products are of
        international standards.
 
      - Indian Metals & Carbide Ltd., subsidiary of the Company
 earned
        a profit of Rs. 0.22 lakhs (after tax) during the year
 1998-99.
        They have not proposed any dividend in view of low internal
        generations.
 
      - The Company mobilised public deposits without extending
        invitation to the public and after filing a statement in lieu
 of
        advertisement.  
 
      - During the year under report industrial relations have been
        cordial both at the Company's plants and mines.
 
      - The Company has initiated steps to recognise the SSI units
 with
        which it has dealings.
 
 2005
 
 -Dlist from Bhubaneswar Stock Exchange with effect from January 17,
 2005.
 
 2011
 -Ferro Alloys Ltd has now informed BSE that the Company has acquired
 a 70% stake in an Indonesian coal mine 
 
 2012
 -Indian Metals & Ferro Alloys Ltd has  recommended a dividend of Rs.
 5/-.
 
 2013
 -C R Ray as Whole-time Director of the Company.
 
 2014
 -Indian Metals & Ferro Alloys Ltd has  recommended a dividend of Rs.
 3/- (excluding dividend tax) per equity share.