Team News Riveting
Raipur, February 15
Sarda Energy and Minerals Limited (SEML) has posted a whopping 75 per cent year-on-year (YoY) growth in the third quarter of the financial year 2024-25 (Q3FY25).
“Despite mark-to-market provisioning of Rs 46 crore on investments, consolidated profit after tax grew 75 per cent year-on-year to Rs 200 crore and remained steady quarter-on-quarter,” the company said in a statement. It acgieved consolidated revenue of Rs 1319 crore in Q3FY25, marking a growth of 43 per cent year-on-year and 14 per cent quarter-on-quarter.
The Chhattisgarh-based flagship entity of Sarda Group said despite challenges in steel and ferro alloys segment due to downturn in prices, lower production, inventory losses and low profit from hydro segment due to seasonal effect, operating EBITDA almost doubled year-on-year from Rs 194 crore to Rs 382 crore. SEML’s net consolidated debt, including working capital loans, stood around Rs 1400 crore. Long-term loans repayable within next one year is Rs 223 crore.
The liquidity is strong, with cash and liquid investments exceeding Rs 1400 crore as on December 31, 2024, which is in addition to loans given as part of company’s treasury operations.
In an Earnings Conference Call, the company officials spoke about the expansion plan and project updates. The mining capacity at Gare Palma IV/7 is set to increase from 1.68 million tonne (MT) to 1.8 MT. “Gare Palma IV/5- We have acquired another fully explored underground coal mine, Gare Palma IV/5, with 78 MT in geological reserves and 39 MT in extractable reserves, Grade G8. The vesting order was received on February 4th, 2025, and we anticipate coal extraction within the next financial year,” they added.
In the Shahpur West Coal Mine, the mining lease has been executed. Mine opening permission is expected this quarter, with production targeted within two years. In Bartunga Hill JV Coal Mine, SEML is preparing the detailed project report and mining plan.
The Rehar hydropower project (25 megawatt) has begun trial run and is expected to be commercially operational by the end of this financial year. The Captive solar power (50 megawatt) is progressing on schedule but delays in the construction of CSPDCL substation bay and transmission line may slightly impact the timeline.
Sarda Energy & Minerals Limited (SEML), incorporated in 1973, is an energy and minerals company with operational iron ore and coal mines in Chhattisgarh and Thermal and Hydropower generation plants in different locations across India, with a growing portfolio of mineral and energy assets. It has total operational Thermal Power capacity of 761.50 MW and Hydropower capacity of 141.80 MW. It is also an integrated steel producer of long steel products having steel manufacturing facility at Raipur, Chhattisgarh and a leading producer and exporter of ferro alloys with manufacturing facilities at Raipur and Vizag.
