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Impex Ferro Tech Limited (IMPEXFERRO)

📊 NSE: IMPEXFERRO 🏢 Mining / Minerals / Metals 📢 Latest filing: 01 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, Impex Ferro's revenue was ₹0.0 Cr, and net profit ₹-0.9 Cr (a smaller loss than a year earlier).

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹0.0	—	—
Operating profit	₹-0.2	loss narrowed	loss widened
Net profit	₹-0.9	loss narrowed	loss narrowed
EPS (₹)	-0.11	loss narrowed	loss narrowed

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Impex Ferro Tech 31st AGM Approves FY26 Financials with 99.99% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Oct 2026, 05:53 PM

Impex Ferro Tech Limited has released the Scrutinizer's Report for its 31st Annual General Meeting held on September 30, 2026. Shareholders approved the adoption of the Audited Balance Sheet and Statement of Profit and Loss for FY ended March 31, 2026, with a 99.99% majority. A total of 4,61,11,060 votes were polled (representing 52.43% of total outstanding shares), with 4,61,07,504 votes in favour and 3,556 votes against. The company remains under the Corporate Insolvency Resolution Process (CIRP) with operations largely suspended and negative net worth.

Adoption of FY26 Audited Financials approved with 99.99% votes in favour (4,61,07,504 votes)
Dissent recorded at 0.01% consisting of 3,556 votes
Total voter turnout represented 52.43% of total outstanding shares (4,61,11,060 votes polled)
Promoter and promoter group accounted for 4,58,48,386 votes (100% of promoter votes cast in favour)

💡 Track updates regarding the resolution plan approval or liquidation proceedings under the Corporate Insolvency Resolution Process (CIRP) via NCLT.

Rs 1.77 Cr Q1 Loss; CoC Approves Ankoor Distillers' Resolution Plan for Impex Ferro Tech

🔵 WATCH ⭐ 9/10

EARNINGS 📅 13 Aug 2026, 02:54 PM

Impex Ferro Tech reported zero revenue and a net loss of Rs 1.77 Cr for the quarter ended June 30, 2026, as operations remain suspended since October 2022. The critical development is the Committee of Creditors (CoC) approving a resolution plan by Ankoor Distillers Private Limited on July 24, 2026, which has been submitted to the NCLT. Auditors continue to highlight massive financial distress, including the non-provision of Rs 630.20 Cr in cumulative interest and a fully eroded net worth of Rs -322 Cr. The company's survival is entirely dependent on the NCLT's final approval of the resolution plan.

CoC approved the resolution plan of Ankoor Distillers Private Limited on July 24, 2026, following the receipt of 6 total plans.
Reported zero revenue from operations for the quarter, consistent with the shutdown since October 2022 due to power disconnection.
Auditors flagged non-provision of cumulative interest expenses amounting to Rs 630.20 Cr (Rs 63,020.22 lakhs).
Undisputed statutory dues of Rs 2.92 Cr have been in arrears for more than six months as of June 30, 2026.
The company received 5 Earnest Money Deposits (EMDs) totaling Rs 5 Cr and one Bank Guarantee of Rs 21 Cr during the CIRP process.

💡 Monitor the NCLT Kolkata Bench for the final order on the Ankoor Distillers resolution plan. Investors must exercise extreme caution as equity shareholders often face significant dilution or total wipe-out in IBC resolution plans.

Resolution Plan for Impex Ferro Tech Submitted to NCLT for Final Approval

🔵 WATCH ⭐ 9/10

LEGAL 📅 08 Aug 2026, 11:51 AM

The Resolution Professional (RP) of Impex Ferro Tech has filed an application with the NCLT Kolkata Bench on August 7, 2026, seeking final approval for a resolution plan. This plan, submitted by M/s. Ankoor Distilleries Private Limited, was previously approved by the Committee of Creditors (CoC) on July 25, 2026. The company is currently in a dire financial state with zero operational revenue and a total debt of ₹268 Cr. The NCLT's decision will determine if the company can resume operations and what value, if any, remains for existing shareholders.

Resolution plan submitted by M/s. Ankoor Distilleries Private Limited has reached the final NCLT approval stage.
Application filed under Section 30(6) of the Insolvency and Bankruptcy Code on August 7, 2026.
Company reports ₹0 revenue for the last four consecutive quarters as operations remain suspended.
Total debt stands at ₹268 Cr against a deeply negative net worth of ₹-322 Cr.
The 22nd Committee of Creditors meeting concluded the voting process leading to this submission.

💡 Investors should closely monitor the NCLT Kolkata Bench's daily orders for the final sanction of the plan. It is critical to understand that resolution plans under IBC frequently involve massive equity dilution or delisting, which can result in total loss for retail shareholders.

100% CoC Approval for Ankoor Distilleries' Resolution Plan for Impex Ferro Tech

🔵 WATCH ⭐ 9/10

REGULATORY 📅 27 Jul 2026, 05:27 PM

The Committee of Creditors (CoC) of Impex Ferro Tech has unanimously (100% vote) approved a resolution plan submitted by M/s Ankoor Distilleries Private Limited. This marks a critical milestone in the Corporate Insolvency Resolution Process (CIRP) for a company that currently reports zero revenue and a negative net worth of ₹322 Cr. The CoC also rejected liquidation proceedings, which received 0% of the vote. The Resolution Professional will now proceed with issuing a Letter of Intent to the successful applicant and seeking final NCLT approval.

100.00% of the Committee of Creditors voted in favor of the resolution plan dated May 25, 2026.
Liquidation proceedings were rejected with 0.00% votes in favor, opting for business continuity.
The company carries a massive debt of ₹268 Cr against a current market capitalization of only ₹22 Cr.
Operational revenue has remained at ₹0 Cr for the last seven reported quarters.
The resolution plan was amended as recently as June 30, 2026, before the final vote.

💡 Investors should closely monitor the NCLT approval process and the specific terms of the resolution plan; typically, IBC resolutions involve significant equity dilution or delisting for existing shareholders.

29th CoC Meeting held for Impex Ferro Tech under Insolvency Process

🔵 WATCH ⭐ 4/10

REGULATORY 📅 07 Jul 2026, 04:38 PM

Impex Ferro Tech Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), convened its 29th Committee of Creditors (CoC) meeting on July 6, 2026. The company is in severe financial distress with a negative net worth of ₹322 Cr and total debt amounting to ₹268 Cr. Operations have effectively ceased, as evidenced by ₹0 TTM revenue and zero capacity utilization. The company's future remains entirely dependent on the formulation and NCLT approval of a resolution plan.

29th meeting of the Committee of Creditors (CoC) was held on July 6, 2026
Company reports a total debt of ₹268 Cr against a negative net worth of ₹322 Cr
TTM revenue has dropped to ₹0 Cr with operations currently suspended
Resolution Professional's Authorization for Assignment (AFA) is valid until December 30, 2026

💡 Monitor for subsequent filings regarding the outcome of the 29th CoC meeting and any potential resolution plans submitted by bidders. The primary focus should be on whether a viable plan is approved to address the ₹268 Cr debt or if the company moves toward liquidation.

29th CoC Meeting Scheduled for July 6, 2026, as Insolvency Process Continues

🔵 WATCH ⭐ 4/10

REGULATORY 📅 04 Jul 2026, 05:51 PM

Impex Ferro Tech Limited has scheduled its 29th Committee of Creditors (CoC) meeting for July 6, 2026, under the ongoing Corporate Insolvency Resolution Process (CIRP). The company is in a severe financial state with a negative net worth of Rs -322 Cr and total debt of Rs 268 Cr. Operations have effectively halted, reflected by TTM revenue of Rs 0 Cr and 0% capacity utilization. The future of the company depends entirely on the CoC's ability to finalize a resolution plan for NCLT approval.

29th meeting of the Committee of Creditors (CoC) to be held on July 6, 2026
Company reports zero operational revenue (Rs 0 Cr) for the TTM period
Total debt stands at Rs 268 Cr against a fully eroded net worth of Rs -322 Cr
Resolution Professional's authorization for assignment is valid until December 31, 2026

💡 Investors should monitor for any disclosures regarding the outcome of this CoC meeting, specifically whether a resolution plan has been proposed or if the company is moving toward liquidation.

Impex Ferro Tech Closes Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Jul 2026, 04:20 PM

Impex Ferro Tech Limited has announced the closure of its trading window for all designated persons effective July 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of unaudited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are publicly disclosed. The filing is notably signed by a Resolution Professional, indicating the company remains under the Corporate Insolvency Resolution Process (CIRP).

Trading window closed starting from July 1, 2026
Closure relates to the unaudited financial results for the quarter ending June 30, 2026
Window to remain closed until 48 hours after the results declaration
Company is under management of a Resolution Professional with AFA valid until December 31, 2026

💡 Investors should wait for the announcement of the Q1 FY27 financial results and monitor updates regarding the company's insolvency resolution status.

Impex Ferro Tech 28th CoC Meeting: Discussion on Revised Bid from Eligible PRA

🔵 WATCH ⭐ 8/10

LEGAL 📅 22 Jun 2026, 04:14 PM

Impex Ferro Tech Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 28th Committee of Creditors (CoC) meeting on June 19, 2026. The meeting focused on discussing a revised bid received from an eligible Prospective Resolution Applicant (PRA). The session lasted 45 minutes, and minutes were circulated to relevant parties on June 20, 2026. This indicates the resolution process is reaching a critical stage where potential buyers are refining their offers for the company.

28th Meeting of the Committee of Creditors (CoC) successfully convened on June 19, 2026.
The primary agenda was the discussion of a revised bid from an eligible Prospective Resolution Applicant (PRA).
The meeting was conducted by Resolution Professional Ashok Kumar Sarawagi.
Minutes of the meeting were circulated to stakeholders on June 20, 2026, at 17:45 hours.

💡 Investors should remain extremely cautious as the company is in insolvency; CIRP outcomes often lead to significant equity dilution or delisting. Monitor future announcements regarding whether the CoC accepts the revised bid and the subsequent NCLT approval process.

Impex Ferro Tech CoC Extends CIRP by 60 Days; Negotiates with Resolution Applicant

🔵 WATCH ⭐ 8/10

LEGAL 📅 19 Jun 2026, 04:41 PM

Impex Ferro Tech Limited held its 27th Committee of Creditors (CoC) meeting on June 17, 2026, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). The CoC has noted a further 60-day extension to the CIRP timeline to allow for continued proceedings. A critical part of the meeting involved negotiations with a Resolution Applicant regarding their commercial offer for the company. This suggests the insolvency process is reaching a decisive stage in determining the company's future ownership.

27th Meeting of the Committee of Creditors (CoC) successfully convened on June 17, 2026.
CIRP timeline extended by an additional 60 days to facilitate resolution.
Ongoing negotiations with the Resolution Applicant regarding the commercial offer for the Corporate Debtor.
Resolution Professional Ashok Kumar Sarawagi oversaw the proceedings and circulation of minutes on June 19, 2026.

💡 Investors should exercise extreme caution as the company is in insolvency; the final resolution plan will determine if there is any residual value for equity shareholders. Monitor for updates on whether the CoC accepts the Resolution Applicant's offer.

Impex Ferro Tech Schedules 28th Committee of Creditors Meeting for June 19, 2026

🔵 WATCH ⭐ 7/10

LEGAL 📅 17 Jun 2026, 06:02 PM

Impex Ferro Tech Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has convened its 28th Committee of Creditors (CoC) meeting. The meeting is scheduled for June 19, 2026, at 17:00 IST and will be conducted in a hybrid mode. This procedural step is part of the ongoing insolvency proceedings to determine the future of the company's debt and operations under the management of Resolution Professional Ashok Kumar Sarawagi.

28th meeting of the Committee of Creditors (CoC) scheduled for June 19, 2026.
Company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
Meeting to be held in hybrid mode (physical and virtual) at 17:00 IST.
Ashok Kumar Sarawagi is acting as the Resolution Professional with AFA valid until December 31, 2026.

💡 Investors should remain cautious as the company is in insolvency; the outcome of CoC meetings is critical in deciding between a resolution plan or liquidation. Monitor for further disclosures regarding the approval of any resolution bids.

Impex Ferro Tech Schedules 27th Committee of Creditors (CoC) Meeting

🔵 WATCH ⭐ 8/10

LEGAL 📅 16 Jun 2026, 02:05 PM

Impex Ferro Tech Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 27th Committee of Creditors (CoC) meeting for June 17, 2026. The meeting will be held at 15:15 IST in Kolkata through a hybrid mode, allowing both physical and virtual participation. This meeting is a mandatory disclosure under Regulation 30 of SEBI (LODR) Regulations. The proceedings are being managed by the Resolution Professional, Ashok Kumar Sarawagi, as the company seeks a resolution under the Insolvency and Bankruptcy Code.

27th meeting of the Committee of Creditors (CoC) scheduled for June 17, 2026.
The company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
Meeting to be conducted in hybrid mode (physical and virtual) at 15:15 Hrs IST.
Resolution Professional Ashok Kumar Sarawagi is overseeing the insolvency proceedings.

💡 Investors should closely monitor the outcomes of CoC meetings for any updates on the resolution plan or potential liquidation. Given the ongoing insolvency process, the stock remains highly speculative and carries significant risk.

Impex Ferro Tech 26th CoC Meeting: CIRP Period Extended by 90 Days; New Resolution Applicants Added

🔵 WATCH ⭐ 8/10

LEGAL 📅 01 Jun 2026, 10:46 AM

Impex Ferro Tech Limited held its 26th Committee of Creditors (CoC) meeting on May 29, 2026, regarding its ongoing insolvency process. The CoC approved a 90-day extension to the Corporate Insolvency Resolution Process (CIRP) timeline to facilitate a resolution. Furthermore, AIC Iron Industries Private Limited and Ankoor Distillers Private Limited have been included in the final list of Prospective Resolution Applicants (PRAs). The meeting also saw the approval of the company's financial results for the quarter and year ended March 31, 2026.

CIRP timeline extended by a further 90 days to allow for resolution completion.
AIC Iron Industries Private Limited and Ankoor Distillers Private Limited added to the Final List of PRAs.
Approval of March 2026 Quarterly and Annual Financial Results by the CoC.
The 26th CoC meeting was conducted on May 29, 2026, and minutes were circulated on May 30, 2026.

💡 Investors should remain highly cautious as the company is under insolvency; the final resolution plan may result in significant equity dilution or delisting. Monitor the upcoming financial results and the progress of the newly added resolution applicants.

Impex Ferro Tech Reports Q4 FY26 Results Amid CIRP; Net Worth Fully Eroded

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 30 May 2026, 06:12 PM

Impex Ferro Tech Limited, currently under the Corporate Insolvency Resolution Process (CIRP), reported its March 2026 results with a heavily qualified auditor's opinion. The company failed to provide for cumulative interest expenses of ₹63,020.22 lakhs, which would have deepened its negative equity to ₹103,977.61 lakhs if correctly accounted for. Operations at its Kalyanesheri plant have been shut since October 2022 due to power disconnection, and the company faces ₹292 lakhs in overdue statutory arrears. The auditor has highlighted material uncertainty regarding the company's ability to continue as a going concern.

Non-provision of ₹63,020.22 lakhs in cumulative interest expense, significantly understating financial liabilities.
Net worth is fully eroded, with reported Other Equity at negative ₹40,957.39 lakhs.
Manufacturing operations have been shut down since October 2022 due to power disconnection by Damodar Valley Corporation.
Undisputed statutory dues of ₹292 lakhs are in arrears for more than six months as of March 31, 2026.
The company is under CIRP since May 2024, with all powers vested in the Resolution Professional.

💡 Investors should exercise extreme caution as the company is in insolvency proceedings and its net worth is completely eroded. Equity shareholders typically face total loss in such resolution processes, and the lack of operational activity further diminishes recovery prospects.

Impex Ferro Tech to Hold 26th CoC Meeting on May 29 Under Insolvency Process

🔵 WATCH ⭐ 8/10

LEGAL 📅 27 May 2026, 12:16 PM

Impex Ferro Tech Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 26th Committee of Creditors (CoC) meeting for May 29, 2026. The meeting will be held in a hybrid mode (physical and virtual) at 12:00 PM IST in Kolkata. This meeting is a critical step in the ongoing insolvency proceedings managed by Resolution Professional Ashok Kumar Sarawagi. Investors should be aware that the company's operations and future are currently under the control of the CoC and the Resolution Professional.

26th Meeting of the Committee of Creditors (CoC) scheduled for May 29, 2026.
The company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
Meeting to be conducted in hybrid mode (both physical and virtual) at 12:00 Hrs IST.
Resolution Professional Ashok Kumar Sarawagi is overseeing the process with AFA valid until December 31, 2026.

💡 Investors should exercise extreme caution as CIRP proceedings often lead to significant equity dilution or delisting. Closely monitor the outcomes of CoC meetings for any updates on resolution plans or potential liquidation.

Impex Ferro Tech 25th CoC Meeting: Finalizes Resolution Applicants and Seeks CIRP Extension

🔵 WATCH ⭐ 8/10

LEGAL 📅 09 Mar 2026, 05:44 PM

Impex Ferro Tech Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 25th Committee of Creditors (CoC) meeting on March 6, 2026. The meeting focused on finalizing the list of eligible Prospective Resolution Applicants and the Request for Resolution Plan (RFRP). Notably, the CoC approved filing an application for an extension of the CIRP timeframe with the NCLT, Kolkata. Additionally, CIRP costs incurred up to February 2026 were reviewed and approved as the process moves toward a potential resolution.

25th CoC meeting successfully convened on March 6, 2026, to progress the insolvency process.
Finalized the list of eligible Prospective Resolution Applicants (PRAs) as per CIRP regulations.
Approved the Request for Resolution Plan (RFRP) and the evaluation matrix for potential bidders.
Authorized the filing of an application for an extension of the CIRP period with NCLT, Kolkata.
Approved CIRP-related costs incurred for the period ending February 2026.

💡 Investors should exercise extreme caution as the company is in insolvency, which often results in significant equity write-downs or delisting. Monitor the NCLT's decision on the CIRP extension and the eventual selection of a resolution applicant.

View All IMPEXFERRO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations for the quarter ended September 30, 2025, was INR 0, representing a 100% decline compared to INR 8 lakhs in the same quarter of the previous year. The company has effectively ceased active manufacturing operations during the CIRP period.

Geographic Revenue Split

Not disclosed in available documents, though the company is headquartered in Kolkata, West Bengal, and its primary assets are located in India.

Profitability Margins

Profitability is severely negative; the company reported a net loss of INR 181.41 lakhs for Q2 FY26 and INR 368.05 lakhs for H1 FY26. Net worth is fully eroded at negative INR 31,888.87 lakhs (approx. -INR 318.89 Cr) as of September 30, 2025.

EBITDA Margin

EBITDA is negative as the company incurred an operating loss before working capital changes of INR 35.11 lakhs for H1 FY26, compared to a profit of INR 5.08 lakhs in H1 FY25, a decline of nearly 791%.

Capital Expenditure

Historical Property, Plant & Equipment (PPE) stood at INR 15,556.53 lakhs as of September 30, 2025, down from INR 15,890.57 lakhs in March 2025 due to depreciation of INR 334.04 lakhs; no new planned CAPEX is disclosed due to insolvency.

Credit Rating & Borrowing

ICRA downgraded the company's ratings to [ICRA]D (Default) from [ICRA]C/A4 across all instruments, including INR 123.24 Cr working capital term loans and INR 98.44 Cr fund-based limits, due to ongoing defaults and insolvency proceedings.

⚙️ Operational Drivers

Raw Materials

Ferro alloy production typically requires manganese ore, chrome ore, and coke; however, raw material consumption was INR 0 in H1 FY26 as production has halted.

Capacity Expansion

Current PPE is valued at INR 155.57 Cr. No expansion is planned as the company is under CIRP and the Board is suspended.

Raw Material Costs

Raw material costs were INR 0 for H1 FY26, reflecting a 100% reduction in procurement activity due to the cessation of manufacturing operations.

Manufacturing Efficiency

Capacity utilization is effectively 0% as evidenced by zero revenue from operations and zero raw material consumption in the current financial period.

Logistics & Distribution

Distribution costs are negligible due to the lack of active production; other expenses for H1 FY26 were INR 35.18 lakhs.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company has no independent growth strategy; its future depends entirely on the formulation and NCLT approval of a Resolution Plan under the Insolvency and Bankruptcy Code (IBC). The 22nd Committee of Creditors (CoC) meeting was held in December 2025 to discuss the process.

Products & Services

Ferro alloys and related manufactured goods.

Brand Portfolio

IMPEX FERRO TECH.

New Products/Services

No new products are planned; the focus is on identifying and selling surplus inventory to manage insolvency costs.

Market Expansion

None; the company is currently focused on debt resolution and asset preservation.

Market Share & Ranking

Not disclosed; currently negligible due to halted operations.

Strategic Alliances

None currently; the company is under the control of a Resolution Professional (RP).

🌍 External Factors

Industry Trends

The ferro alloy industry is cyclical and energy-intensive; however, the company's position is currently defined by its default status and the legal framework of the IBC rather than market trends.

Competitive Landscape

Competitors include other Indian ferro alloy producers, but IMPEXFERRO is currently non-competitive due to its CIRP status.

Competitive Moat

The company has no current competitive moat as its net worth is fully eroded and it is in default with all major creditors.

Macro Economic Sensitivity

Highly sensitive to the steel and ferro alloy industry cycles, though currently overshadowed by the legal insolvency process.

Consumer Behavior

Not applicable as the company is a B2B industrial supplier with halted production.

⚖️ Regulatory & Governance

Industry Regulations

The company is governed by the Insolvency and Bankruptcy Code, 2016. It is currently non-compliant with SEBI LODR regulations, including the lack of a Company Secretary and Chief Financial Officer.

Taxation Policy Impact

The company has a Current Tax Asset of INR 306.20 lakhs. No tax expense was recorded for H1 FY26 due to heavy losses.

Legal Contingencies

The company is undergoing CIRP at the NCLT Kolkata Bench (Order dated May 2, 2024). Claims submitted by financial and operational creditors exceed the amounts recorded in the books of accounts.

⚠️ Risk Analysis

Key Uncertainties

There is material uncertainty regarding the company's ability to continue as a going concern, which is 100% dependent on the approval of a resolution plan by the NCLT.