Indian Metals & Ferro Alloys Limited has announced that its Board of Directors will meet on Wednesday, May 27, 2026. The primary agenda for the meeting includes the consideration and approval of the audited financial results for the quarter and year ended March 31, 2026, both on a standalone and consolidated basis.

Agenda for the Meeting

The Board will deliberate on the company's financial performance for the specified period. Alongside the financial results, the directors will consider the recommendation of a final dividend on the equity share capital for the financial year ended March 31, 2026.

Trading Window Closure

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for the company's shares has been closed since April 1, 2026. This restriction applies to all Directors, Key Managerial Persons, Designated Persons, and Connected Persons. The window will remain closed until May 29, 2026.

Indian Metals & Ferro Alloys Limited has formally terminated its Power Purchase Agreement (PPA) and Share Subscription and Shareholders Agreement (SSHA) with Ampin Energy Utility One Private Limited, effective 14th May 2026. The termination was executed by mutual agreement between the parties, citing delays in project delivery timelines and project approvals as the primary reasons. The development was disclosed to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of the Agreements

The agreements were originally entered into as part of IMFA's initiative to secure hybrid renewable energy supply for its operations. The PPA was dated 27th May 2025, while the SSHA was dated 12th June 2025. An earlier disclosure regarding these agreements had been made on 17th October 2025. The arrangement was structured to supply hybrid renewable power with a contracted demand of 40 MW, comprising a solar capacity of 58 MW AC and a wind capacity of 58 MW.

Key Details of the Termination

The following table summarises the principal terms and disclosures related to the termination, as filed with the stock exchanges:

Investment and Refund Provisions

As part of the SSHA, Indian Metals and Ferro Alloys had subscribed to 1,23,20,000 equity shares of Rs. 10 each in Ampin Energy Utility One Private Limited for an aggregate consideration of Rs. 12.32 Crore, resulting in a 4.36% equity participation in the Power Producer. Under the terms of the termination agreement, this investment amount is to be refunded to IMFA by the Power Producer. The company confirmed that Ampin Energy Utility One Private Limited is not related to the promoter, promoter group, or group companies, and the transaction does not fall within the ambit of related party transactions.

Ongoing Discussions for Renewable Energy Supply

Following the termination, Indian Metals and Ferro Alloys stated that it is in advanced discussions with another hybrid renewable energy developer. The company indicated it expects to sign binding documents in Q1FY27, with further intimation to be provided to the stock exchanges in due course. The disclosure was signed by Smriti Ranjan Ray, Company Secretary & Compliance Officer (Membership No: F4001), on behalf of Indian Metals and Ferro Alloys Limited.