Corporate Times

Subhrakant Panda: IMFA’s lynchpin

Subhrakant Panda: IMFA’s lynchpin

Subhrakant Panda joined the IMFA Group, his family run business conglomerate in 1993. Since then, he has handled various responsibilities within the Group, including directly supervising the Commercial Division, along with holding additional charge of the Projects Department. He initiated several projects which have had a significant impact on the overall development of the Group.

In 2006, Panda was appointed Managing Director of the flagship company Indian Metals & Ferro Alloys Ltd (IMFA). His current role is to help define the broad strategic goals while independently supervising the day-to-day management. Panda is spearheading IMFA’s move into power generation as a standalone business besides overseeing strategic acquisitions overseas. Panda holds a Bachelor of Science Degree in Business Administration from the School of Management, Boston University. He graduated with honours summa cum laude with a dual concentration in Finance and Operations Management. He has received various awards and honours in recognition of his outstanding scholastic achievement, including an unprecedented 3.95 cumulative grade point average (GPA) out of a possible 4.0. He is a voracious reader and his interests include Chess, Cricket and Golf.

IMFA is India’s largest fully integrated producer of value added ferro chrome with 187 MVA installed furnace capacity capable of producing 275,000 MTPA ferro chrome. Incorporated in 1961 by founder and Executive Chairman, Dr. Bansidhar Panda, the company is headquartered in Bhubaneswar, Orissa and has its manufacturing complex in Therubali and Choudwar. IMFA at present produces ferro chrome for the domestic market as well as major international markets. IMFA is unique from a quality perspective in that it has multi-product & multi-location ISO 9001 certification covering the entire range of its activities.
IMFA is recognised globally as a reliable and cost-competitive producer with a particular focus on customer satisfaction. Over the years, the company has developed long standing relationships with multi-nationals like POSCO of South Korea, Marubeni Corporation and Nisshin Steel of Japan and leading stainless steel producers in China and Taiwan. Within India, Jindal Stainless and Shah Alloys are its leading customers.

As the managing director and chief executive officer (CEO) of IMFA and steering its day-to-day operations, Panda is committed to enhancing customer satisfaction by producing to agreed specifications and delivering on contracted terms. His other goals include providing a safe and healthy working environment to all our Team Members and Business Associates by adopting proactive measures and complying with all applicable rules & regulations.

Under Panda’s stewardship, IMFA has been striving for organisational excellence through good corporate governance and industry leadership by integrating the value chain and continual improvement. The company’s Corporate Environment Responsibility is backed by the concept of conserving natural resources through process improvements, recycling & waste reduction and minimising pollution.

IMFA’s ferro chrome output is mostly exported to the Far East (China, Japan and Taiwan) since it is the epicentre of stainless steel production and also considering our logistical advantage. However, given the expected growth in stainless steel demand / production in India, going ahead there will be distinct shift to catering to the domestic market for which the company is ideally positioned. Its focus on exporting value added ferro chrome has won us many accolades including the 43rd National Awards for Export Excellence from EEPC in 2010-11.

As a responsible corporate entity, IMFA has been at the forefront of social responsible initiatives. The initiatives in this regard were oversees by Late Ila Panda. Her leadership of Indian Metals Public Charitable Trust (IMPaCT), a philanthropic venture, resulted in many initiatives in education, healthcare and culture. Besides operating schools and a technical training institute, IMFA also provides basic healthcare to the community in and around our various sites and generally work towards uplifting the under-privileged sections of society. The Sarala Award for Odia literature and Ekalabya Puraskar for encouring budding Odia sportspeople are the company’s major initiatives.

Comment here