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Sarda Energy&Mineral

₹269.2 11.4 | 4.4%

Market Cap ₹9486 Cr.

Stock P/E 17.3

P/B 2.5

Current Price ₹269.2

Book Value ₹ 107.2

Face Value 1

52W High ₹1116.4

Dividend Yield 0.56%

52W Low ₹ 107.1

Sarda Energy&Mineral Research see more...

Overview Inc. Year: 1973Industry: Steel & Iron Products

Sarda Energy & Minerals Ltd is a manufacturer of steel and ferro alloys. The Company is engaged in the manufacturing and promoting of pellets, sponge iron, metallic billets, wire rod, wire and ferro alloys from its plant positioned at Raipur, Chhattisgarh. Its segments consist of Steel, Ferro and Power. It produces sponge iron for its personal captive use to produce metal ingots and billets through furnace route. It produces and exports manganese-based ferro alloys with exports to 60 countries. Ferro alloys are produced in sub-merged arc furnaces with the usage of electro-thermic technique. It manufactures bricks from the fly-ash generated from its captive power plant. It operates an 81.5 MW thermal electricity plant at its Siltara plant. The energy generated is utilized in its billet, ingot, sponge iron, and ferro alloys plants. The Company produces pellets from iron ore fines with the use of grate-kiln technology. The pellets are utilized in residence for manufacturing of direct reduced iron (DRI).

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Sarda Energy&Mineral Share Price

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Sarda Energy&Mineral Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 1025 999 1058 1261 967 908 1076 1052 1001 925
Other Income 31 -13 34 -39 21 44 24 83 24 37
Total Income 1056 986 1092 1222 988 952 1100 1135 1025 963
Total Expenditure 614 678 707 892 685 713 862 837 759 737
Operating Profit 442 308 386 331 302 239 238 298 266 225
Interest 43 45 45 32 32 33 28 35 35 34
Depreciation 39 39 46 44 44 45 45 45 46 46
Exceptional Income / Expenses 0 -3 -4 0 0 0 0 0 0 -2
Profit Before Tax 360 222 291 255 226 161 165 218 186 143
Provision for Tax 96 53 86 81 41 30 49 44 35 36
Profit After Tax 264 169 205 174 184 131 116 174 151 107
Adjustments -9 -2 9 -5 -4 -0 6 -4 -10 10
Profit After Adjustments 256 167 213 170 181 130 121 171 141 117
Adjusted Earnings Per Share 7.1 4.6 5.9 4.8 5.1 3.7 3.4 4.8 4 3.3

Sarda Energy&Mineral Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 1405 1591 1760 1480 1434 2174 2324 2000 2199 3914 4212 4054
Other Income 49 46 63 36 73 72 41 26 159 79 87 168
Total Income 1454 1638 1822 1515 1508 2246 2365 2027 2357 3993 4299 4223
Total Expenditure 1115 1263 1383 1289 1223 1774 1866 1687 1693 2588 3189 3195
Operating Profit 338 375 440 227 284 472 499 339 664 1406 1110 1027
Interest 69 123 120 112 94 97 99 82 79 147 124 132
Depreciation 69 96 93 75 69 73 76 78 75 143 178 182
Exceptional Income / Expenses 0 -2 -139 -1 28 -8 0 0 -15 -7 0 -2
Profit Before Tax 201 154 87 39 150 294 324 179 495 1108 807 712
Provision for Tax 38 62 31 27 23 90 117 43 115 300 202 164
Profit After Tax 162 92 56 13 127 205 207 136 380 808 605 548
Adjustments -1 -1 -1 -0 5 -2 -4 -9 -5 -4 -3 2
Profit After Adjustments 162 91 55 13 132 202 203 126 375 804 602 550
Adjusted Earnings Per Share 4.5 2.5 1.5 0.3 3.7 5.6 5.6 3.5 10.4 22.3 17.1 15.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 8% 28% 14% 12%
Operating Profit CAGR -21% 48% 19% 13%
PAT CAGR -25% 64% 24% 14%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 139% 66% 59% 34%
ROE Average 19% 23% 18% 13%
ROCE Average 20% 22% 17% 13%

Sarda Energy&Mineral Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 1053 1148 1210 1223 1358 1576 1743 1870 2218 3004 3410
Minority's Interest 64 67 71 72 83 88 132 100 101 104 100
Borrowings 912 884 821 877 923 983 1064 1408 1493 1195 1063
Other Non-Current Liabilities 92 122 125 108 78 91 94 97 102 168 157
Total Current Liabilities 664 1027 818 546 673 673 649 626 605 828 751
Total Liabilities 2786 3247 3044 2827 3115 3413 3682 4102 4518 5298 5481
Fixed Assets 1428 1383 1333 1226 1138 1310 1297 1271 1234 2806 2861
Other Non-Current Assets 466 519 574 780 925 988 1242 1527 1785 361 375
Total Current Assets 892 1346 1137 822 1053 1115 1143 1304 1499 2131 2246
Total Assets 2786 3247 3044 2827 3115 3413 3682 4102 4518 5298 5481

Sarda Energy&Mineral Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 79 70 102 72 11 10 68 43 164 96 216
Cash Flow from Operating Activities 247 241 -36 469 177 300 480 336 188 917 701
Cash Flow from Investing Activities -474 -385 330 -148 -241 -156 -399 -415 -186 -466 -431
Cash Flow from Financing Activities 218 176 -385 -383 63 -86 -106 199 -70 -331 -479
Net Cash Inflow / Outflow -9 32 -91 -61 -1 58 -24 120 -68 120 -208
Closing Cash & Cash Equivalent 70 102 11 11 10 68 43 164 96 216 8

Sarda Energy&Mineral Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 4.51 2.54 1.53 0.35 3.66 5.62 5.64 3.5 10.4 22.31 17.09
CEPS(Rs) 6.46 5.23 4.15 2.44 5.43 7.71 7.87 5.92 12.63 26.39 22.23
DPS(Rs) 0.3 0.3 0.3 0.2 0.4 0.5 0.5 0.5 0.75 0.75 1.5
Book NAV/Share(Rs) 29.38 32.02 33.64 33.99 37.67 43.73 48.36 51.86 61.53 83.32 96.77
Core EBITDA Margin(%) 18.75 19.11 19.83 11.89 13.44 18.03 19.69 15.64 22.98 33.89 24.28
EBIT Margin(%) 17.43 16.1 10.91 9.4 15.53 17.64 18.19 13.07 26.13 32.07 22.11
Pre Tax Margin(%) 12.98 8.98 4.59 2.45 9.56 13.28 13.93 8.94 22.53 28.31 19.16
PAT Margin (%) 10.51 5.35 2.96 0.79 8.08 9.24 8.92 6.78 17.3 20.65 14.37
Cash Profit Margin (%) 14.98 10.91 7.84 5.46 12.45 12.54 12.21 10.67 20.71 24.31 18.6
ROA(%) 6.34 3.05 1.79 0.43 4.27 6.27 5.84 3.48 8.83 16.47 11.23
ROE(%) 16.63 8.37 4.78 1.05 9.84 13.96 12.48 7.5 18.61 30.96 18.87
ROCE(%) 11.95 10.32 7.45 5.88 9.45 13.76 13.86 7.8 15.33 29.48 19.81
Receivable days 14.19 15.01 15.55 25.24 26.87 19.57 17.58 19.75 21.76 14.31 15.2
Inventory Days 56.07 56.45 68.31 73.85 65.57 62.07 66.81 85.79 89.62 55.58 58.07
Payable days 45.17 51.41 40.53 31.13 39.16 30.11 38.06 55.66 56.77 36.53 25.38
PER(x) 2.1 4.36 8.12 26.86 6.64 7.49 5.55 3.39 4.03 5.07 6.3
Price/Book(x) 0.32 0.35 0.37 0.28 0.65 0.96 0.65 0.23 0.68 1.36 1.11
Dividend Yield(%) 3.18 2.71 2.42 2.13 1.65 1.19 1.6 4.21 1.79 0.66 1.39
EV/Net Sales(x) 1.21 1.28 1.09 1.05 1.55 1.3 1.07 0.98 1.42 1.37 1.15
EV/Core EBITDA(x) 5.01 5.42 4.36 6.83 7.83 6 4.96 5.77 4.71 3.82 4.35
Net Sales Growth(%) 26.8 13.25 10.59 -15.91 -3.09 51.56 6.91 -13.93 9.93 78.01 7.61
EBIT Growth(%) 79.51 2.79 -25.03 -27.28 61.56 60.28 8.1 -38.16 119.78 118.49 -25.81
PAT Growth(%) 84.26 -43.28 -38.86 -77.36 896.14 61.28 1.18 -34.58 180.64 112.48 -25.14
EPS Growth(%) 85.34 -43.64 -39.85 -77.1 946.37 53.46 0.34 -37.82 196.73 114.5 -23.4
Debt/Equity(x) 1.36 1.51 1.23 1 1 0.88 0.8 0.91 0.77 0.53 0.41
Current Ratio(x) 1.34 1.31 1.39 1.5 1.56 1.66 1.76 2.08 2.48 2.57 2.99
Quick Ratio(x) 0.97 1.03 0.87 1.1 1.05 1.04 1.08 1.28 1.52 1.83 2.02
Interest Cover(x) 3.91 2.26 1.73 1.35 2.6 4.04 4.27 3.17 7.26 8.53 7.49
Total Debt/Mcap(x) 4.21 4.37 3.32 3.61 1.56 0.91 1.24 3.95 1.14 0.39 0.37

Sarda Energy&Mineral Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 72.5 72.5 71.01 72.64 72.64 72.64 72.64 72.64 72.64 72.64
FII 1.56 1.72 1.83 1.97 1.92 2.44 2.56 2.69 2.81 2.69
DII 1.78 2.21 2.54 2.82 3.45 3.76 3.76 3.92 3.85 3.61
Public 24.17 23.58 24.62 22.57 22 21.16 21.05 20.74 20.7 21.06
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 24% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Debtor days have improved from 36.53 to 25.38days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Sarda Energy&Mineral News

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