Indian Metals & Ferro Alloys commenced the first tapping of hot metal from the first furnace at its greenfield ferro chrome expansion project in Kalinganagar on August 25, 2026.

The company, known as IMFA, confirmed that production volumes will be gradually increased in due course following this initial operational milestone.

Project Update

The facility, designated as KNR-1, marks a significant step in the company's expansion strategy in Odisha. This update follows an earlier disclosure made by the company on July 24, 2026.

Operational Outlook

With the commencement of production, the focus now shifts to ramping up output. The gradual increase in volume suggests a phased approach to stabilizing operations before reaching full capacity.

Indian Metals & Ferro Alloys Limited has launched a remote e-voting exercise to seek shareholder approval for the appointment of Dr Deepak Kumar Mohanty as a Non-Executive Independent Director and an enhancement in the commission payable to its independent directors. The postal ballot, governed by Section 110 of the Companies Act, 2013, and Regulations 30, 44, and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, aims to formalize governance changes effective from June 30, 2026. Shareholders must cast their votes by September 10, 2026, to influence these key corporate decisions.

Key Resolutions Under Consideration

The ballot covers two primary resolutions. The first is a Special Resolution to appoint Dr Deepak Kumar Mohanty (DIN: 09771960) as a Non-Executive Independent Director for five consecutive years, effective from June 30, 2026. The second is an Ordinary Resolution to increase the commission cap for Non-Executive Independent Directors from ₹1,00,00,000 to ₹1,50,00,000 per annum, with a per-director limit rising from ₹20,00,000 to ₹25,00,000, excluding sitting fees. This enhancement applies from FY27 onwards.

Profile of Dr Deepak Kumar Mohanty

Dr Mohanty brings extensive experience in macroeconomics and financial regulation. He previously served as Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) from March 2023 to May 2025. His career includes roles as Executive Director at the Reserve Bank of India (RBI), Senior Adviser at the International Monetary Fund (IMF), and Chief Economic Advisor at FICCI. The Board initially appointed him as an Additional Director on February 5, 2026, subject to security clearance from the Director General of Civil Aviation, which was granted on June 30, 2026.

E-Voting Process and Timeline

The voting process is conducted exclusively via the National Securities Depository Limited (NSDL) platform. Physical ballot forms are not accepted. Mr Sourjya Prakash Mohapatra, a Practicing Chartered Accountant, has been appointed as the Scrutinizer. Eligible members are those registered as of August 7, 2026.

Results will be published on the company’s website and communicated to BSE Limited and National Stock Exchange of India Limited. If approved, the resolutions are deemed passed on September 10, 2026.