Indian Metals to acquire Tata Steel asset worth ₹610 crore, declares ₹5 per share dividend

Indian Metals & Ferro Alloys on Tuesday announced acquisition of a ferro alloys plant of Tata Steel situated in Odisha. The company also declared its Q2 results today and announced an interim dividend for FY26.

The board of directors of Indian Metals & Ferro Alloys on November 4 approved entering into an Asset Transfer Agreement (ATA) with Tata Steel Limited (TSL) for the acquisition of the assets and other acquired interests of the Ferro Alloys Plant.

The cost of acquisition is ₹610 crore, plus applicable GST, and the value of Net Working Capital (NWC) taken over on the closing date.

“The acquisition is in line with the company’s strategy to drive the next phase of growth in its Ferro Alloys Business by expanding capacity. The locational advantage and cost synergies due to proximity to the company’s captive mines and upcoming greenfield project in Kalinganagar will augment the company’s ability to cater to new opportunities with a focus on the domestic market,” Indian Metals & Ferro Alloys said in a regulatory filing on Tuesday.

The transaction is expected to be completed in three to six months, subject to receipt of statutory approvals and fulfilment of the conditions laid down in the ATA, the company added.

Indian Metals & Ferro Alloys Q2 Results

Indian Metals & Ferro Alloys reported a standalone net profit of ₹98.77 crore in the second quarter of FY26, recording a decline of 21.4% from ₹125.72 crore in the year-ago period.

The company’s standalone revenue from operations in Q2FY26 increased 3.86% to ₹718.65 crore from ₹691.92 crore, year-on-year (YoY).

Ferro alloys segment revenue increased 4% YoY to ₹718.07 crore, while the segment EBIT declined nearly 15% YoY to ₹146.55 crore. Power segment revenue rose to ₹156.63 crore, with its EBIT loss at ₹1.27 crore. The company’s Mining segment’s revenue grew to ₹106.37 crore, with an EBIT loss of ₹1.10 crore.

Indian Metals Dividend

The board of directors of Indian Metals & Ferro Alloys also declared an interim dividend of ₹5 per equity share of ₹10 each for the financial year ending 31st March 2026.

Indian Metals dividend record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend is 11 November 2025, Tuesday. Additionally, Indian Metals dividend payment date is December 3, 2025.

“The Interim Dividend will be paid to such shareholders on or before Wednesday, 3rd December 2025,” the company said.

At 2:45 PM, Indian Metals & Ferro Alloys share price traded 2.56% higher at ₹1,239.40 apiece on the BSE.

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