India: Sarda Energy and Mineral Pellet Production Up in Q1 FY'20

Sarda Energy and Mineral Limited - one of the integrated steel producer based in central India has released its operational results for the first quarter of FY'20 ending Jun'19.

Key operational performance highlights in Q1 FY20-:

1) Pellet production up 216% Q-o-Q: Company has produced 1,99,000 MT pellets in Q1 FY20, up 216% compared to last quarter at 63,000 MT. However on yearly basis company's pellets production down marginally by 2% against 2,03,000 MT in the same time frame last year.

2) Pellet sales increased sharply - Company sold 125,000 MT pellets in Q1 FY20, up 186% compared to last quarter ended in Mar'19 at 44,000 MT. However, on yearly basis company pellet sales moved down by 17% against 1,51,000 MT at Q1 FY19.

3) Steel billet production up 13% Q-o-Q: Company's Steel Billet production has increased 13% to 51,000 MT in Q1 FY'20, compared to last quarter at 45,000 MT.

4) MS Coil: Company's MS coil production was 40,000 MT in Q1FY'20, up 30% compared to 31,000 MT in last Quarter ending Mar'19. On yearly basis, the company production increased by 32% against Q1 FY19 at 30,000MT.

5) HB Wire Production: Company's HB wire production in the quarter ending Jun'19 down by 3% to 6,000 MT compared to last Quarter ending Mar'19. On yearly basis the company production down by 15% against Q1 FY19 at 7,000 MT.

Sarda Energy & Minerals Limited (SEML) is an integrated steel producer of long steel products having steel manufacturing facility at Raipur, Chhattisgarh. It is also leading producer and exporter of Ferro alloys with the manufacturing facility at Raipur & Vizag.