Coastal Odisha Major Balasore Alloys have turned the carpet on, posting Rs. 54 Crores Net Profit.

Coastal Odisha major – Ferrochrome maker Balasore Alloys Ltd on Wednesday reported a net loss of Rs. 4.6 crore for the quarter ended March 2025, compared to a net profit of Rs 30 crore in the same period last year. The company has attributed the loss to volatility in the steel industry and commodity market fluctuations driven by geopolitical factors.

However, for the full financial year (FY25), the company reported a net profit of Rs. 54.07 crores, marking a sharp turnaround from a net loss of Rs 46.19 crore in the previous fiscal, company officials said. Company officials stated that the turnaround was driven by strong cost control measures and improved operational efficiency. The ferroalloys producer said it slashed cost of goods sold to 40% of revenue, down from 70% in FY 2024 – 2025.

The cost of materials consumed was reduced by nearly 49%, from Rs 774.37 crores to Rs. 398.27 crores, they added. “March quarter numbers were subdued because of geopolitical issues, price volatility and weak price realisation in the steel industry. But the full-year results reflect our strategic recalibration and operational realignment in a cost-conscious environment“, managing director A K Jain said. He added that the company has ambitious plans to substantially increase production, sales and cost efficiencies in the current fiscal by leveraging steel and innovative technologies.

Balasore Alloy’s, formerly Ispat Alloys Limited is part of the renowned L. N. Mittal led Ispat group of Companies, a major business house in the country. It was incorporated in the year 1984 at Balasore, Odisha and at present it has two plants with total capacity of 160,000 MTPA. With multiple furnaces of different capacities, the company has the flexibility to produce different grades of Ferro Chrome as per market dynamics. This adds to the competitive advantage of the organization as a range product mix can be maintained at the same time even with lower quantity requirements.

The company has captive mines in different locations in Sukinda Valley at Jajpur Road (Odisha). The mines take care of the Chrome ore requirement of the company. Other raw materials are sourced from both Domestic and International Markets.  

The company is IMS (Integrated Management System) certified for Plant site at Balasore and its Mines at Sukinda Jajpur, Odisha. Various management excellence initiatives like Six Sigma, TPM, Supply Chain Management and Performance Management Systems are in place to promote excellence in all areas and improve the overall efficiency of the company.

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