Impex Ferro Tech Limited Stock Analysis

Name: Impex Ferro Tech Limited (IMPEXFERRO) Stock Analysis
Brand: NSE India
Rating: 1.5 (1 reviews)

IMPEXFERRO NSE India

Impex Ferro Tech Limited (IMPEXFERRO) is a India-based company listed on NSE. This AI-powered analysis provides investment insights based on quarterly earnings reports and financial performance metrics.

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Impex Ferro Tech Limited is in acute financial distress and is entirely uninvestable from a conventional equity research standpoint. The company has been under Corporate Insolvency Resolution Process (CIRP) since May 2, 2024, with Board powers suspended and a Resolution Professional in control. The company reported a net loss of Rs. 181.14 lakhs for Q3FY26 (quarter ended December 31, 2025), with zero revenue from operations, while accumulated losses stand at Rs. 46,255.07 lakhs — a figure that entirely exceeds net worth, meaning shareholders have been fully wiped out. The auditor has issued a Qualified Opinion with five distinct qualification points, a Material Uncertainty on Going Concern, and multiple Emphasis of Matter paragraphs, making the reported financials unreliable for investment analysis. The only near-term event of consequence is the CIRP outcome — one Resolution Applicant has been declared H1 bidder — but equity holders are structurally last in the IBC waterfall and are overwhelmingly likely to receive zero recovery.

Based on: Impex Ferro Tech Limited - Financial Results (18/2/2026) (Feb 18, 2026)

+ Key Strengths

CIRP H1 Bidder Identified: A Resolution Applicant has been declared H1 bidder, meaning the CIRP process has progressed to an advanced stage and a resolution plan has been submitted — this reduces the probability of liquidation relative to earlier stages of CIRP.

Depreciation-Driven Loss Structure: The bulk of the Rs. 181.14 lakh quarterly loss is driven by non-cash depreciation of Rs. 167.02 lakhs, meaning cash operating burn (excluding depreciation) is relatively contained at approximately Rs. 14 lakhs per quarter in other expenses.

Regulatory Compliance Maintained: Despite CIRP, the company has continued filing quarterly results under SEBI Listing Regulations 33 and 52 and engaging auditors, maintaining minimum exchange compliance obligations.

Surplus Inventory Monetized: During FY24-25, previously unrecorded surplus inventory was identified and sold, generating some revenue (Rs. 30.79 lakhs in nine months of FY25) — indicating the Resolution Professional has taken steps to extract residual asset value.

- Key Risks

Total Net Worth Destruction: Accumulated losses of Rs. 46,255.07 lakhs as of December 31, 2025, fully exceed net worth — equity holders face near-certain zero recovery in any resolution scenario under IBC's creditor waterfall.

Massive Admitted Claims vs. Book Values: Total admitted claims aggregate to over Rs. 1,37,000 lakhs (secured financial creditors Rs. 91,068.97 lakhs, unsecured financial creditors Rs. 6,153.88 lakhs, government dues Rs. 39,228.67 lakhs, employee dues Rs. 11.54 lakhs, other operational creditors Rs. 548.60 lakhs admitted) — dwarfing any plausible enterprise value from a shut factory.

Unprovisioned Interest Liability of Rs. 63,020.22 Lakhs: Cumulative interest admitted by RP but NOT booked in financial statements means reported losses are materially understated; the actual liability overhang is far larger than stated figures suggest.

Manufacturing Shutdown Since October 2022: The Kalyanesheri plant has been non-operational for over three years due to DVC power disconnection; security deposit of Rs. 950 lakhs and other deposits of Rs. 748 lakhs with DVC have already been invoked/adjusted, eliminating any near-term operational restart prospect.

Five-Point Qualified Audit Opinion with Going Concern Uncertainty: The auditor has flagged non-provision of Rs. 63,020.22 lakhs of cumulative interest, ECL provisioning policy changes of Rs. 707.13 lakhs, unconfirmed/unreconciled balances across trade receivables, payables and advances, excess creditor claims versus book values, and confidential CIRP information withheld from auditors — rendering reported financials unreliable.

Statutory Dues in Arrears of Rs. 292.54 Lakhs: Undisputed statutory dues unpaid for more than nine months as of December 31, 2025, with associated interest and penalties unascertained and unaccounted, adding further contingent liability uncertainty.

Forward Outlook

There are no new strategic initiatives, capacity expansions, partnerships, or forward guidance issued by management this quarter — the report is entirely silent on any forward-looking operational plans, which is consistent with a company under CIRP where the Resolution Professional's mandate is creditor resolution, not business growth. The sole catalyst of any relevance is the CIRP resolution plan outcome: one applicant has been declared H1 bidder, and NCLT approval of the resolution plan is the single event that determines the fate of the company. For equity investors, however, IBC's priority waterfall (secured financial creditors first, then unsecured financial creditors, then operational creditors, then equity) means that with admitted claims exceeding Rs. 1,37,000 lakhs against a shut ferro-alloy plant with no revenue and Rs. 46,255 lakhs in accumulated losses, the probability of any equity recovery is negligible to zero. Investors should treat this stock as a CIRP speculation play with binary outcomes: either a resolution plan that almost certainly haircuts even secured creditors heavily, or liquidation — in neither scenario should equity holders expect meaningful value. The 6-12 month outlook is entirely dependent on NCLT proceedings and COC approval of the H1 bidder's resolution plan, with no operational or financial metrics that could justify holding or accumulating shares.

All Scores

Date	Report	Score	Sentiment	AI
Feb 18, 2026	Impex Ferro Tech Limited - Financial Results (18/2/2026)	1.5	Strong Sell	Claude
Impex Ferro Tech Limited is in acute financial distress and is entirely uninvestable from a conventional equity research standpoint. The company has been under Corporate Insolvency Resolution Process (CIRP) since May 2, 2024, with Board powers suspended and a Resolution Professional in control. The company reported a net loss of Rs. 181.14 lakhs for Q3FY26 (quarter ended December 31, 2025), with zero revenue from operations, while accumulated losses stand at Rs. 46,255.07 lakhs — a figure that entirely exceeds net worth, meaning shareholders have been fully wiped out. The auditor has issued a Qualified Opinion with five distinct qualification points, a Material Uncertainty on Going Concern, and multiple Emphasis of Matter paragraphs, making the reported financials unreliable for investment analysis. The only near-term event of consequence is the CIRP outcome — one Resolution Applicant has been declared H1 bidder — but equity holders are structurally last in the IBC waterfall and are overwhelmingly likely to receive zero recovery. STRENGTHS: CIRP H1 Bidder Identified: A Resolution Applicant has been declared H1 bidder, meaning the CIRP process has progressed to an advanced stage and a resolution plan has been submitted — this reduces the probability of liquidation relative to earlier stages of CIRP. / Depreciation-Driven Loss Structure: The bulk of the Rs. 181.14 lakh quarterly loss is driven by non-cash depreciation of Rs. 167.02 lakhs, meaning cash operating burn (excluding depreciation) is relatively contained at approximately Rs. 14 lakhs per quarter in other expenses. / Regulatory Compliance Maintained: Despite CIRP, the company has continued filing quarterly results under SEBI Listing Regulations 33 and 52 and engaging auditors, maintaining minimum exchange compliance obligations. / Surplus Inventory Monetized: During FY24-25, previously unrecorded surplus inventory was identified and sold, generating some revenue (Rs. 30.79 lakhs in nine months of FY25) — indicating the Resolution Professional has taken steps to extract residual asset value. RISKS: Total Net Worth Destruction: Accumulated losses of Rs. 46,255.07 lakhs as of December 31, 2025, fully exceed net worth — equity holders face near-certain zero recovery in any resolution scenario under IBC's creditor waterfall. / Massive Admitted Claims vs. Book Values: Total admitted claims aggregate to over Rs. 1,37,000 lakhs (secured financial creditors Rs. 91,068.97 lakhs, unsecured financial creditors Rs. 6,153.88 lakhs, government dues Rs. 39,228.67 lakhs, employee dues Rs. 11.54 lakhs, other operational creditors Rs. 548.60 lakhs admitted) — dwarfing any plausible enterprise value from a shut factory. / Unprovisioned Interest Liability of Rs. 63,020.22 Lakhs: Cumulative interest admitted by RP but NOT booked in financial statements means reported losses are materially understated; the actual liability overhang is far larger than stated figures suggest. / Manufacturing Shutdown Since October 2022: The Kalyanesheri plant has been non-operational for over three years due to DVC power disconnection; security deposit of Rs. 950 lakhs and other deposits of Rs. 748 lakhs with DVC have already been invoked/adjusted, eliminating any near-term operational restart prospect. / Five-Point Qualified Audit Opinion with Going Concern Uncertainty: The auditor has flagged non-provision of Rs. 63,020.22 lakhs of cumulative interest, ECL provisioning policy changes of Rs. 707.13 lakhs, unconfirmed/unreconciled balances across trade receivables, payables and advances, excess creditor claims versus book values, and confidential CIRP information withheld from auditors — rendering reported financials unreliable. / Statutory Dues in Arrears of Rs. 292.54 Lakhs: Undisputed statutory dues unpaid for more than nine months as of December 31, 2025, with associated interest and penalties unascertained and unaccounted, adding further contingent liability uncertainty.

What is the AI Stock Score?

The AI Stock Score is a composite rating from 0-10 generated by analyzing quarterly earnings reports using three leading AI models (Google Gemini, Anthropic Claude, and OpenAI ChatGPT). Each AI independently evaluates financial performance, growth prospects, risks, and market positioning to provide an objective investment perspective.

How should I interpret Buy/Hold/Sell ratings?

Buy (7.0-10.0): Strong fundamentals and positive outlook. Hold (4.0-6.9): Mixed signals, suitable for existing positions. Sell (0-3.9): Deteriorating fundamentals or significant risks. These are AI-generated opinions for informational purposes only, not investment advice.

How is the composite score calculated?

The composite score is the mathematical average of the latest scores from each AI provider. For example, if Gemini rates 7.5, Claude rates 4.5, and ChatGPT rates 6.0, the composite score would be (7.5+4.5+6.0)/3 = 6.0. This multi-AI approach reduces bias from any single model.

How often are scores updated?

Scores are automatically generated within hours of quarterly earnings results being published on NSE. The system monitors earnings announcements 4 times daily and processes new reports immediately. Check the "Last Updated" date at the top of this page for the most recent analysis timestamp.

Is this financial advice?

No. This is AI-generated analysis for informational and educational purposes only. MarketsHost is not a SEBI-registered Research Analyst or Investment Adviser. AI models can produce inaccurate results. Always consult a qualified financial advisor and conduct your own due diligence before making investment decisions.