SARDAEN · Metals & Mining
Sarda Energy and Minerals Ltd. reported revenue of ₹925 cr for October to December 2023, — on the year and −7.6% on the quarter.
Operating profit (EBITDA) was ₹188 cr, a margin of 20.3%, — on the year and −385 bps on the quarter.
Net profit was ₹114 cr, — on the year and −23.5% on the quarter, with earnings per share of ₹3.32.
Metal margins move with the spread between product prices and coal and ore costs, so large quarterly swings are normal here and say more about prices than about the business. The quarterly statements do not carry volumes, realisation per tonne and the cost of coal and ore; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,001 cr | ₹925 cr | ₹889 cr | ₹926 cr | ₹1,159 cr | ₹1,319 cr | ₹1,239 cr | ₹1,633 cr | ₹1,528 cr | ₹1,276 cr | ₹1,254 cr | ₹1,608 cr |
| YoY | — | — | — | −12% | +16% | +43% | +39% | +76% | +32% | −3% | +1% | −2% |
| EBITDA margin | 24.2% | 20.3% | 17.1% | 28.2% | 29.1% | 28.0% | 21.9% | 37.8% | 33.5% | 24.4% | 27.8% | 40.6% |
| Other income, % of PBT | 13% | 22% | 35% | 29% | 18% | 0% | 29% | 14% | 16% | 37% | 2% | 18% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 19% | 25% | 37% | 24% | 26% | 17% | 41% | 24% | 27% | 28% | 33% | 25% |
| Net profit | ₹149 cr | ₹114 cr | ₹88.0 cr | ₹198 cr | ₹203 cr | ₹200 cr | ₹100 cr | ₹437 cr | ₹328 cr | ₹190 cr | ₹155 cr | ₹478 cr |
| YoY | — | — | — | +15% | +36% | +75% | +14% | +121% | +62% | −5% | +55% | +9% |
| Core profit YoY | — | — | — | +33% | +39% | +104% | +44% | +163% | +61% | −29% | +80% | +7% |
| EPS | ₹3.99 | ₹3.32 | ₹2.68 | ₹5.64 | ₹5.55 | ₹5.60 | ₹3.07 | ₹12.33 | ₹9.17 | ₹5.40 | ₹4.48 | ₹13.00 |
| Flags | · | · | 1 | ✓ | ✓ | 2 | 1 | ✓ | ✓ | 2 | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Sarda Energy and Minerals Ltd. reported revenue of ₹925 cr (— on the year) and net profit of ₹114 cr (— on the year) for October to December 2023.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.