Indian Metals & Ferro Alloys Ltd (IMFA), a leading ferrochrome producer, has put in place nearly ₹2000 crore expansion plan, that include greenfield capacity expansion, ramping up chromite ore — a key feedstock for stainless steel making — mining and a foray into ethanol production.
Capital expenditure (capex) will be primarily from internal accruals, and some through a mix of debt, mostly term loans. However, under no circumstance would the debt-to-equity ratio cross the 0.5 per cent “upper cap”, Subhrakant Panda, Managing Director, IMFA, told businessline.
IMFA continues to be a long term net debt free company.
