Sarda Energy & Minerals Limited (SARDAEN)

Loading page…

Sarda Energy & Minerals Limited (SARDAEN) · mywealthgrid

About

Sarda Energy & Minerals Limited operates in iron & steel, a commodity-driven segment within India's ferrous metals sector. With quarterly revenues of ₹1,100–1,600 Cr and a market cap of ₹18,700 Cr, it is a mid-cap player competing in a capital-intensive industry. Recent operating margins of 23–41% reflect the sector's cyclical exposure to commodity prices and capacity utilization.

Face value: ₹1

Market cap

₹17,435 Cr

P/E

15.4×

P/B

2.4×

Dividend yield

0.7%

ROE

16.2%

ROCE

17.3%

Debt / equity

0.35

OPM

31.4%

EPS (TTM)

₹32.1

Book value

₹209.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression risk: OPM has swung 18 percentage points from 22.68% (Dec 2025) to 40.64% (Jun 2026), indicating sensitivity to input costs or mill utilization — verify commodity price hedges and current capacity utilization

Earnings volatility: EPS ranges from ₹4.48 to ₹13 across recent quarters, making guidance difficult and limiting investor confidence in normalized earning power

Market skepticism despite fundamentals: 1-year return of −4.56% despite ROE of 16.2% and solid margins suggests investors discount cycle durability or competitive pressures — confirm management visibility on margin sustainability

Sector cyclicality: ferrous metals are tied to construction and infrastructure cycles; verify Sarda's exposure to these end-markets and economic sensitivity

Generated analysis · source review pending

Growth drivers

OPM improved from 22.68% (Dec 2025) to 40.64% (Jun 2026) — verify whether driven by sustainable operational improvements, input-cost tailwinds, or product mix changes that could sustain EPS growth

D/E of 0.35 provides financial capacity for growth; confirm management capex roadmap and whether excess cash is reinvested in capacity or returned to shareholders

Earnings peaked at ₹13/share (Jun 2026) vs prior range of ₹4–5; verify if recent margin expansion is repeatable or reflects cyclical commodity tailwind

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹494.8-1.1%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 31.4%
+Profit CAGR of 24.2% over the last 5 years
+Revenue CAGR of 20.9% over the last 5 years
+High promoter holding of 73.2% with no pledge

Cons

−Low dividend payout of 10.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 60
Growth: 43
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jindal Steel LimitedJINDALSTELJINDALSTEL	₹1,12,262 Cr	₹1,34,300 Cr	₹56,413 Cr	₹9,314 Cr	18.2%	₹2,718 Cr	6.3%	9.2%	6.9%	1
Steel Authority Of India LimitedSAILSAIL	₹72,070 Cr	₹1,03,998 Cr	₹1,11,135 Cr	₹13,384 Cr	10.8%	₹4,272 Cr	3%	7.6%	5.7%	105
Jindal Stainless LimitedJSLJSL	₹60,404 Cr	₹67,745 Cr	₹44,026 Cr	₹5,645 Cr	13%	₹3,249 Cr	7.4%	19.6%	17.5%	42
Sarda Energy & Minerals LimitedSARDAENSARDAEN	₹17,435 Cr	₹20,030 Cr	₹5,665 Cr	₹1,824 Cr	31.4%	₹1,130 Cr	19.5%	17.3%	16.2%	96
Vedanta Iron And Steel LimitedVISLVISL	₹12,189 Cr	₹12,189 Cr	₹0 Cr	₹-0 Cr	—	₹-0 Cr	—	—	—	—
Nmdc Steel LimitedNSLNISPNSLNISP	₹12,001 Cr	₹16,603 Cr	₹13,938 Cr	₹1,510 Cr	11.1%	₹84 Cr	0.4%	3.3%	0.4%	-83
Sandur Manganese & Iron Ores LimitedSANDUMASANDUMA	₹8,637 Cr	₹9,631 Cr	₹5,328 Cr	₹1,253 Cr	23.8%	₹719 Cr	12.9%	26.6%	22.4%	35
Jai Balaji Industries LimitedJAIBALAJIJAIBALAJI	₹5,631 Cr	₹6,189 Cr	₹5,786 Cr	₹522 Cr	13.7%	₹293 Cr	8.8%	40.2%	30.7%	73
Prakash Industries LimitedPRAKASHPRAKASH	₹2,126 Cr	—	₹0 Cr	—	—	₹386 Cr	—	—	—	—
Manaksia Steels LimitedMANAKSTEELMANAKSTEEL	₹713 Cr	₹862 Cr	₹1,241 Cr	₹99 Cr	6.8%	₹56 Cr	3.5%	22%	13%	62
Scan Steels LimitedSCANSTLSCANSTL	₹293 Cr	₹354 Cr	₹789 Cr	₹45 Cr	5.8%	₹22 Cr	2.7%	7.6%	5.2%	112
KIC Metaliks LtdKAJARIRKAJARIR	₹103 Cr	₹260 Cr	₹514 Cr	₹64 Cr	12.5%	₹39 Cr	7.5%	36%	27.6%	67

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,324	2,000	2,199	3,914	4,212	3,868	4,643	5,690
COGS	1,493	1,293	1,347	2,086	2,495	2,407	2,573	2,918
Gross profit	831	708	852	1,828	1,717	1,461	2,070	2,772
	348	358	336	474	657	648	812	939
	482	349	516	1,354	1,059	813	1,258	1,834
OPM %	20.8%	17.5%	23.5%	34.6%	25.2%	21%	27.1%	32.2%
Depreciation	76	78	75	143	178	183	271	341
Interest	99	82	79	147	124	128	220	244
	17	-17	130	43	49	181	172	247
Profit before tax	324	172	491	1,106	806	683	939	1,496
Tax	117	43	115	300	202	159	237	386
Tax %	36%	25.2%	23.4%	27.1%	25%	23.3%	25.2%	25.8%
	207	128	376	807	604	524	702	1,109
PAT margin %	8.9%	6.4%	17.1%	20.6%	14.3%	13.6%	15.1%	19.5%
EPS (₹)	56.4	35.1	104	223.1	169.9	14.8	19.9	31.4
EPS adjusted (₹)	5.8	3.5	10.4	22.3	17.1	14.8	19.9	31.4
	8.9%	14.3%	7.2%	0%	5.3%	6.7%	7.6%	6.4%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	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	36	35	35	35	35
Reserves	1,185	1,187	1,540	1,707	1,834	2,182	2,968	3,375	3,853	6,251	7,335
Minority interest	71	72	88	132	100	101	104	100	106	106	106
	1,285	1,132	1,310	1,332	1,624	1,714	1,581	1,407	1,366	2,823	2,595
	476	399	438	475	508	486	610	564	641	910	1,299
Total equity & liabilities	3,053	2,827	3,413	3,682	4,102	4,518	5,298	5,481	6,002	10,125	11,371
	—	—	1,310	1,282	1,241	1,203	—	2,861	2,815	5,809	6,005
CWIP	427	579	775	1,054	1,365	1,616	132	130	250	613	463
Investments	224	161	241	213	191	266	500	469	697	828	1,681
	2,402	2,087	1,087	1,133	1,306	1,433	4,666	2,022	2,240	2,875	3,222
Total assets	3,053	2,827	3,413	3,682	4,102	4,518	5,298	5,481	6,002	10,125	11,371

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Power	2,845.71	1,095.02	6,470.21	2,972.91	3,497.3	31.31
Steel	1,920.89	318.1

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	35.7%	35.4%	38.7%	46.7%	40.8%	37.8%	44.6%	48.7%
EBITDA margin %	20.8%	17.8%	23.6%	34.6%	25.2%	20.6%	26.7%	31.4%
EBIT margin %	17.5%	13.9%	20.2%	31%	20.9%	15.9%	20.8%	25.4%
PAT margin %	8.9%	6.4%	17.1%	20.6%	14.3%	13.6%	15.1%	19.5%
Working capital
Receivable days	15	23	23	16	16	10	17	18
Inventory days	107	141	157	107	106	80	115	99
Payable days	1	1	1	1	20	26	28	22
NWC days	121	163	178	122	102	63	105	96
Leverage
Current ratio	1.76	2.08	2.48	2.57	2.99	3.36	3.06	4.5
Debt to EBITDA	2.76	4.56	3.3	1.17	1.33	1.71	2.28	1.45
Debt to equity	0.76	0.87	0.77	0.53	0.41	0.35	0.45	0.35
Interest coverage	4.3	3.2	7.4	8.6	7.5	6.2	5.2	6.9
Asset turnover	0.63	0.49	0.49	0.74	0.77	0.64	0.46	0.5
Return ratios
Return on assets %	5.6%	3.1%	8.3%	15.2%	11%	8.7%	6.9%	9.8%
Return on capital employed %	13.9%	8%	15.9%	30.1%	20.2%	16.1%	15.9%	17.3%
Return on equity %	11.9%	6.9%	17%	26.9%	17.7%	13.5%	11.2%	15.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.64%	72.64%	72.64%	72.64%	73.16%	73.16%	73.16%	73.16%	73.16%	73.16%	73.16%	73.16%
	2.69%	2.81%	2.69%	2.5%	2.28%	2.66%	3.47%	3.83%	4.13%	3.54%	3.51%	3.52%
	3.92%	3.85%	3.61%	3.75%	4.27%	4.35%	3.78%	3.81%	2.88%	2.92%	3.32%	3.47%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	20.75%	20.7%	21.06%	21.11%	20.29%	19.83%	19.59%	19.2%	19.83%	20.38%	20.01%	19.85%
No. of shareholders	—	—	—	—	—	—	—	—	95,666	95,338	90,809	91,188

Promoter holding up 0.52 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Saurabh RathiPromoter Group	BuyOthers	58,310	₹0	0.00% → 0.02%	26 Aug 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

5 deals · 30 Jul 2024 – 11 Apr 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	19,67,175	₹467.91	₹92.05 Cr
11 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	19,67,175	₹467.54	₹91.97 Cr
30 Jul 2024	FORTUNE COURIERS LTD	Block	NSE	Sell	15,00,000	₹279.00	₹41.85 Cr
30 Jul 2024	NEW ERA FABRICS LIMITED	Block	NSE	Buy	7,50,000	₹279.00	₹20.93 Cr
30 Jul 2024	JOHNSON DYE WORKS PRIVATE LTD	Block	NSE	Buy	7,50,000	₹279.00	₹20.93 Cr

1–5 of 5

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Kamal Kishore SardaExecutive Director-Chairperson
Mr. Pankaj SardaExecutive Director-MD
Mr. Padam Kumar JainExecutive Director
Ms. Tripti SinhaNon-Executive - Independent Director
Mr. Amal Kumar DebnathNon-Executive - Independent Director
Mr. Binoy Sandip ParikhNon-Executive - Independent Director
Mr. Rajeev SharmaNon-Executive - Independent Director
Mr. Upendra Prasad SinghNon-Executive - Independent Director
Mr. Anant SardaNon-Executive - Non Independent Director
Manish SethiCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 8 fund houses

Held by these funds

0.32%

of the company's equity

All mutual funds

0.53%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

26 schemes · 8 fund houses

		Shares
Small Cap FundNEW	ICICI Prudential Mutual Fund	4.69 L	23.39	0.24%	0.133%	—
Energy Opportunities Fund	ICICI Prudential Mutual Fund	2.92 L	14.56	0.18%	0.083%	-2.68 L
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	1.47 L	7.31	0.21%	0.042%	+1,792
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	74,477	3.72	0.21%	0.021%	+834
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	53,988	2.69	0.21%	0.015%	+490
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	32,849	1.64	0.21%	0.009%	+665
Nifty 500 Equal Weight Index Fund	Nippon India Mutual Fund	21,349	1.07	0.2%	0.006%	+11
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	14,659	0.73	0.02%	0.004%	+503

1–8 of 26

1 / 4

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

20

Final dividend14 Aug 2026 · ex-date₹2
Final dividend22 Aug 2025 · ex-date₹1.5
Final dividend30 Aug 2024 · ex-date₹1
Special dividend8 Sept 2023 · ex-date₹0.75
Final dividend8 Sept 2023 · ex-date₹0.75
Interim dividend5 May 2022 · ex-date₹7.5
Final dividend18 Aug 2021 · ex-date₹7.5
Final dividend10 Sept 2020 · ex-date₹5
Final dividend14 Aug 2019 · ex-date₹5
Dividend dividend23 Aug 2018 · ex-date₹5
Dividend dividend16 Aug 2017 · ex-date₹4
Interim dividend17 Mar 2016 · ex-date₹2
Dividend dividend6 Aug 2015 · ex-date₹3
Dividend dividend27 Aug 2014 · ex-date₹3
Dividend dividend22 Aug 2013 · ex-date₹3
Dividend dividend28 Jun 2012 · ex-date₹3
Dividend dividend17 Aug 2011 · ex-date₹3
Dividend dividend28 May 2010 · ex-date₹3
Dividend dividend16 Jul 2009 · ex-date₹3
Dividend dividend13 Aug 2008 · ex-date₹3

1

Board meeting to consider results1 Aug 2026

1

Face value ₹10 → ₹14 Aug 2023 · ex-date

1–3 of 4

1 / 2

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

26 announcementsExport CSV

1 Aug 2026, 2:59 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting

Outcome of Board Meeting PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	35.7%	35.4%	38.7%	46.7%	40.8%	37.8%	44.6%	48.7%
EBITDA margin %	20.8%	17.8%	23.6%	34.6%	25.2%	20.6%	26.7%	31.4%
EBIT margin %	17.5%	13.9%	20.2%	31%	20.9%	15.9%	20.8%	25.4%
PAT margin %	8.9%	6.4%	17.1%	20.6%	14.3%	13.6%	15.1%	19.5%
Working capital
Receivable days	15	23	23	16	16	10	17	18
Inventory days	107	141	157	107	106	80	115	99
Payable days	1	1	1	1	20	26	28	22
NWC days	121	163	178	122	102	63	105	96
Leverage
Current ratio	1.76	2.08	2.48	2.57	2.99	3.36	3.06	4.5
Debt to EBITDA	2.76	4.56	3.3	1.17	1.33	1.71	2.28	1.45
Debt to equity	0.76	0.87	0.77	0.53	0.41	0.35	0.45	0.35
Interest coverage	4.3	3.2	7.4	8.6	7.5	6.2	5.2	6.9
Asset turnover	0.63	0.49	0.49	0.74	0.77	0.64	0.46	0.5
Return ratios
Return on assets %	5.6%	3.1%	8.3%	15.2%	11%	8.7%	6.9%	9.8%
Return on capital employed %	13.9%	8%	15.9%	30.1%	20.2%	16.1%	15.9%	17.3%
Return on equity %	11.9%	6.9%	17%	26.9%	17.7%	13.5%	11.2%	15.1%

Date	Category	Subject	Filing
1 Aug 2026, 2:59 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting	PDF
1 Aug 2026, 2:56 pm	Corp. Action Record Date	Record Date For Dividend 2025-26	PDF
1 Aug 2026, 2:54 pm	Result Financial Results	Financial Results For The Quarter Ended 30.06.2026	PDF
29 Jul 2026, 11:15 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
25 Jul 2026, 4:47 pm	Company Update General	Updates	PDF
24 Jul 2026, 6:21 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
13 Jul 2026, 4:37 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
13 Jul 2026, 3:59 pm	Board Meeting	Board Meeting Intimation for Board Meeting Intimation	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	469	177	301	480	152	189	923	701	752	886	1,735
	-148	-241	-156	-399	-191	-186	-408	-431	-434	-2,132	-1,166
	-383	63	-86	-106	41	-70	-331	-479	-222	1,200	-519
Net cash flow	-61	-1	58	-24	—	-67	185	-208	96	-46	50
Free cash flow	—	—	—	—	—	-115	635	485	487	395	1,397
CFO / Operating profit %	—	—	—	99.6%	42.6%	36.4%	68.1%	66.2%	94.3%	71.6%	97.1%

Sarda Energy & Minerals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends20

Board meetings1

Stock splits1

Announcements

Dividends20

Board meetings1

Stock splits1

Ratio timeline

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ferro Alloys · revenue

20

1

1

20

1

1