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[Ferro-Alloys.com]
Indian Metals MD says expansion will be funded via internal accruals
Subhrakant Panda, the Managing Director of Indian Metals and Ferro Alloys (IMFA) in a discussion with CNBC-TV18 shed light on two recent developments: the planned dividend payout, and the company's diversification plan.
He also spoke about the company's financial status post-dividend payout and the pending compensation for the Utkal-C Block, highlighting the ?131 crore received out of the estimated ??350-380 crore.
He said, "cash in the books is about ?350 crore and undrawn working capital limits are beyond that. So, as I have been saying repeatedly that we have a very strong balance sheet and as we embark on our expansion and diversification plans, we are in a position to do that practically without taking on any debt."
"We are producing ferrochrome in three furnaces there, we are not going to add any more capacity in Therubali specifically because of logistical disadvantage."
The company is going into ethanol for a diversification. The idea behind looking at a small investment in ethanol was to utilise the surplus land which is available as well as the allied infrastructure because this is going to be grain based and the company has the railway sidings and everything else to handle bulk material.
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- [Editor:邢亞敏]
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