Sarda Energy & Minerals Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Power: 47.3% • Steel: 38.4% • Ferro: 14.3%
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company has delivered good profit growth of 26.2% CAGR over last 5 years
- Company has delivered good sales growth of 22.1% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.36x)
- Company comfortably covers its interest (10.5x coverage)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Recent results are weak - TTM profit is down 10.8% versus prior year
- Though reporting repeated profits, the company pays out little dividend (7.4%)
- Growth is decelerating - 3Y profit CAGR (14.1%) trails the 5Y trend (26.2%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1267.50 | 12.51 | 309961.29 | 0.56 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 182.85 | 20.69 | 228259.99 | 2.19 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 179.00 | 17.31 | 73936.40 | 1.31 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2676.25 | 30.57 | 70596.97 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 755.20 | 19.16 | 62260.17 | 0.53 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2153.00 | 48.64 | 59779.85 | 0.39 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1074.35 | 26.70 | 29988.53 | 0.42 | 3507.30 | 1106.63 | 54550.90 | 1133.35 | 13.88 | 14.03 |
| JINDALSAW | 311.85 | 30.52 | 19943.06 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2808.15 | 45.47 | 19682.88 | 0.36 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 524.75 | 16.37 | 18491.21 | 0.38 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 244.50 | 20.41 | 16460.69 | 0.41 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| USHAMART | 494.15 | 29.70 | 15058.83 | 0.76 | 142.04 | 40.90 | 1033.00 | 16.44 | 20.17 | 20.62 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 756 | 643 | 654 | 666 | 659 | 761 | 1,045 | 1,010 | 1,306 | 1,091 | 916 | 1,012 | 1,163 | |
| 619 | 540 | 527 | 534 | 470 | 567 | 740 | 751 | 781 | 760 | 709 | 713 | 808 | |
| Operating Profit | 137 | 103 | 128 | 132 | 190 | 194 | 305 | 259 | 524 | 331 | 207 | 299 | 354 |
| OPM % | 18.14% | 16.08% | 19.52% | 19.81% | 28.76% | 25.49% | 29.18% | 25.68% | 40.17% | 30.35% | 22.55% | 29.57% | 30.46% |
| 80 | 37 | 37 | 30 | 63 | 35 | 7 | 15 | 70 | 68 | 100 | -3 | 70 | |
| Interest | 4 | 5 | 4 | 5 | 4 | 19 | 34 | 40 | 35 | 34 | 34 | 29 | 33 |
| Depreciation | 16 | 16 | 16 | 16 | 15 | 31 | 48 | 56 | 51 | 52 | 52 | 55 | 55 |
| Profit before Tax | 202 | 123 | 147 | 144 | 236 | 181 | 231 | 181 | 511 | 315 | 221 | 216 | 424 |
| Tax % | 21.13% | 24.63% | 23.51% | 29.99% | 23.36% | 32.10% | 18.18% | 36.24% | 24.38% | 23.90% | 26.27% | 26.11% | 24.88% |
| Net Profit | 159 | 93 | 113 | 101 | 181 | 123 | 189 | 115 | 386 | 240 | 163 | 160 | 319 |
| 4.52 | 2.63 | 3.20 | 2.87 | 5.14 | 3.48 | 5.37 | 3.27 | 10.96 | 6.80 | 4.63 | 4.54 | 9.04 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,026 | 1,476 | 1,653 | 1,424 | 1,595 | 2,642 | 3,020 | 2,733 | 3,484 | 4,334 | 4,182 | |
| 861 | 1,179 | 1,299 | 1,194 | 1,226 | 1,768 | 2,210 | 2,222 | 2,544 | 2,963 | 2,991 | |
| Operating Profit | 165 | 296 | 354 | 230 | 369 | 874 | 811 | 511 | 940 | 1,370 | 1,191 |
| OPM % | 16.09% | 20.07% | 21.41% | 16.12% | 23.11% | 33.07% | 26.84% | 18.69% | 26.99% | 31.62% | 28.48% |
| 86 | 57 | 52 | 71 | 96 | 79 | 118 | 189 | 135 | 235 | 235 | |
| Interest | 42 | 36 | 35 | 36 | 34 | 22 | 16 | 18 | 97 | 132 | 130 |
| Depreciation | 47 | 49 | 50 | 51 | 48 | 54 | 66 | 64 | 150 | 210 | 215 |
| Profit before Tax | 162 | 269 | 321 | 214 | 382 | 877 | 847 | 617 | 829 | 1,263 | 1,177 |
| Tax % | 18.85% | 30.09% | 33.13% | 14.74% | 22.35% | 24.73% | 24.61% | 24.47% | 26.63% | 24.89% | 25.11% |
| Net Profit | 131 | 188 | 215 | 182 | 297 | 660 | 638 | 466 | 608 | 949 | 881 |
| EPS | 36.24 | 52.27 | 59.59 | 50.57 | 82.26 | 183.02 | 180.18 | 13.22 | 17.25 | 26.92 | — |
| Dividend Payout % | 10.99% | 9.59% | 8.39% | 9.89% | 9.12% | 4.10% | 8.28% | 7.56% | 8.69% | 7.43% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 22%
- 3 Years:
- 13%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 38%
- 5 Years:
- 26%
- 3 Years:
- 14%
STOCK PRICE CAGR
- 10 Years:
- 41%
- 5 Years:
- 50%
- 3 Years:
- 34%
- 1 Year:
- -10%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 19%
- 3 Years:
- 14%
- Last Year:
- 15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 36 | 36 | 36 | 36 | 36 | 36 | 35 | 35 | 35 | 35 |
| 1,159 | 1,333 | 1,530 | 1,695 | 1,975 | 2,607 | 3,067 | 3,481 | 5,784 | 6,678 | |
| 399 | 328 | 297 | 393 | 273 | 174 | 142 | 89 | 1,474 | 1,369 | |
| Trade Payables | 76 | 127 | 90 | 137 | 164 | 142 | 55 | 68 | 107 | 87 |
| 125 | 138 | 128 | 120 | 142 | 217 | 204 | 217 | 373 | 721 | |
| Total Liabilities | 1,795 | 1,962 | 2,081 | 2,382 | 2,590 | 3,175 | 3,504 | 3,891 | 7,774 | 8,891 |
| 542 | 535 | 526 | 499 | 484 | 551 | 557 | 553 | 3,630 | 3,580 | |
| Capital Work in Progress | 19 | 23 | 19 | 26 | 66 | 68 | 28 | 46 | 319 | 444 |
| 576 | 692 | 721 | 849 | 913 | 1,161 | 1,102 | 1,401 | 1,429 | 2,289 | |
| 252 | 304 | 300 | 370 | 439 | 429 | 549 | 347 | 592 | 589 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41 | 172 | 190 | |
| Cash & Bank | 1 | 2 | 3 | 4 | 3 | 23 | 241 | 623 | 489 | 665 |
| 405 | 407 | 511 | 634 | 685 | 943 | 1,028 | 879 | 1,142 | 1,134 | |
| Total Assets | 1,795 | 1,962 | 2,081 | 2,382 | 2,590 | 3,175 | 3,504 | 3,891 | 7,774 | 8,891 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 135 | 275 | 369 | 211 | 275 | 798 | 602 | 877 | 550 | 1,319 | |
| Cash from Investing | -77 | -91 | -178 | -191 | -26 | -418 | -165 | -723 | -1,834 | -992 |
| Cash from Financing | -43 | -124 | -83 | 41 | -173 | -156 | -227 | -81 | 1,232 | -298 |
| 1 | 0 | 0 | 2 | -1 | 12 | -12 | 74 | -52 | 30 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Sarda Energy & Minerals Limited has informed the Exchange about General Updates
2026-09-04 - Sarda Energy & Minerals Limited has informed the Exchange about Credit Rating
2026-09-04 - Sarda Energy & Minerals Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-01 - Sarda Energy & Minerals Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-31 - Sarda Energy & Minerals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-14 - Sarda Energy & Minerals Limited has informed the Exchange regarding Resignation of Mr. Arup Pal as Other of the company w.e.f. August 10, 2026.
2026-08-14 - Sarda Energy & Minerals Limited has informed the Exchange regarding Resignation of Mr. Arup Pal as Other of the company w.e.f. August 10, 2026.
2026-08-14 - Sarda Energy & Minerals Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-14 - Sarda Energy & Minerals Limited has informed the Exchange about Resignation of Director/KMP/SMP
News
Recent coverage and analyst commentary for SARDAEN
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