India: Sarda Energy & Minerals Report Highest Ever Production & Sales in Q2 FY19

Sarda Energy & Minerals Limited (SEML) - one of the major long steel producer in central India has released its operational and financial performance for the second quarter of FY'19, ends on September'18.

Key Operational performance highlights (Consolidated):

1) Iron ore pellet exported for the first time: Company's Iron ore pellet production has increased by 6% to 1,62,335 MT in Q2 FY'19 on Y-o-Y basis, while down by 20% on Q-o-Q. Its pellet sales rose by 3% to 1,55,449 MT Q-o-Q and sharply up by 53% Y-o-Y. The company has exported 53,790 MT of iron pellet for the first time.

2) Steel Billet production hit highest ever: Company's Steel Billet production has increased by 4% in Q2 FY'19 to 38,727 MT on Q-o-Q basis and up by 9% on Y-o-Y basis. It sales has marginally decreased by 3% to 5,957 MT on Q-o-Q basis and up by 21% on Y-o-Y.

3) Highest ever Wire Rods production: Company's wire rod production has moved up by 4% in Q2 FY'19 to 31,277 MT on Q-o-Q basis and up by 7% Y-o-Y. Its sales also rise significantly by 13% to 26,018 MT on Q-o-Q and up by 25% Y-o-Y.

4) Ferro Alloys: Company's ferro alloys production has almost stable to 38,830 in Q2 FY'19 on Q-o-Q basis and down by 7% Y-o-Y. Also the company claim that it major quantity of Ferro alloys is exported out of its total production and the exports reported around 24,611 MT in Q2FY19 as against 22,122 MT in Q1FY19.

Key Financial performance Highlights:

1) Revenue from Operation: On a standalone basis, company's revenue from operation at INR 419 crore in Q2 FY19 which has increased by 21% on Y-o-Y basis, while down by 5% on Q-o-Q basis.

On consolidated basis, its revenue has also increased by 4% to INR 591 crore on Y-o-Y basis and decreased by 5% Q-o-Q.

2) PAT: On a standalone basis, company has recorded profit after tax of INR 60 crore in Q2 FY19, increased by 15% on Q-o-Q basis and up by 58% Y-o-Y.

On consolidated basis also, the company's PAT has decreased by 12% to INR 38 crore on Q-o-Q basis and down by 17% Y-o-Y.

Sarda Energy & Minerals Production & Sales:

Source: Company Website- SteelMint Research
All fig in MT and Consolidated