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Sarda Energy & Minerals

SARDAEN NSE
₹441.20 No trade today
P/E
13.77
View as Markdown
MCP
Close 4 Nov 2026 ₹441.20 −86.20 −16.3% 1Y
Start ₹527.40

Key Fundamentals

SmallcapFerrous MetalsMetals & Mining

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
16.90%
Debt to Equity
0.36
EPS (TTM)
₹32.05
Book Value
₹229.05
Market Cap
—
P/E (TTM)
13.77
P/B
1.93
ROE
15.10%
Dividend Yield
0.47%
EBITDA
₹2,025 Cr
52W High
₹624.00
52W Low
₹424.05
Volume
0

Peer Comparison

Commodities › Metals & Mining › Iron & Steel

Sarda Energy & Minerals peer comparison
JSW Steel
₹1,343.0011.55₹3,24,536 Cr2.900.54%10.20%11.00%₹1,99,021 Cr₹31,708 Cr
Tata Steel
₹179.9320.38₹2,21,171 Cr2.232.27%11.70%12.50%₹2,39,756 Cr₹11,263 Cr
Jindal Steel
₹1,149.0043.11₹1,14,107 Cr2.240.18%8.22%9.70%₹56,413 Cr₹2,709 Cr
Steel Authority of India
₹170.4916.49₹69,475 Cr1.131.40%6.57%7.92%₹1,11,135 Cr₹4,272 Cr
Jindal Stainless
₹688.8017.48₹56,473 Cr2.670.59%17.70%19.30%₹44,026 Cr₹3,239 Cr
Sarda Energy & Minerals (this company)
₹441.2013.77₹15,290 Cr1.930.47%15.10%16.90%₹5,665 Cr₹1,151 Cr
NMDC Steel
₹39.49136.17₹11,356 Cr0.880.00%0.45%3.06%₹13,938 Cr₹84 Cr
Median 7 companies₹441.2017.48₹69,475 Cr2.230.54%10.20%11.00%₹56,413 Cr₹3,239 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

59 Good

Data confidence 100/100

Category scores

Quality
80
Strong
Returns, margins, earnings quality 22% weight
Valuation
73
Strong
Cheap vs sector & own history 24% weight
Growth
29
Poor
Sales & profit trajectory 9% weight
Financial Health
49
Average
Solvency, leverage, coverage 9% weight
Momentum
17
Poor
Trend strength, vol-adjusted 12% weight
Ownership
58
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 22.4% CAGR over last 5 years

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1252
OscillatorsNeutral252
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
36.45
Neutral
MACD (12,26,9)
−16.03
Bearish
SMA (50)
489.66
Bearish
SMA (200)
515.96
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+14.42%
5Y+20.94%
3Y+10.55%
1Y+22.55%
TTM+5.91%

Net profit

Net profit growth by window
10Y+55.99%
5Y+24.15%
3Y+22.45%
1Y+57.98%
TTM+22.45%

Operating cash flow

Operating cash flow growth by window
10Y+13.98%
5Y+55.97%
3Y+35.27%
1Y+95.82%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+18.50 pp
5Y+7.76 pp
3Y+6.24 pp
1Y+4.77 pp
TTM+2.40 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,434 Cr
Mar 2018₹2,174 Cr
Mar 2019₹2,324 Cr
Mar 2020₹2,000 Cr
Mar 2021₹2,199 Cr
Mar 2022₹3,914 Cr
Mar 2023₹4,212 Cr
Mar 2024₹3,868 Cr
Mar 2025₹4,643 Cr
Mar 2026₹5,690 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹127 Cr
Mar 2018₹205 Cr
Mar 2019₹207 Cr
Mar 2020₹128 Cr
Mar 2021₹376 Cr
Mar 2022₹807 Cr
Mar 2023₹604 Cr
Mar 2024₹524 Cr
Mar 2025₹702 Cr
Mar 2026₹1,109 Cr

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk high

Sarda Energy & Minerals Ltd trades at ₹429.15 as of 2026-11-02 with a market cap of ₹15,249.3 crore and a P/E of 13.39x on trailing earnings. The company has compounded profits at 22% CAGR over five years with a moderate debt-to-equity of 0.36, while the stock sits near its 52-week low of ₹424.05, down significantly from its 52-week high of ₹624.

Bull Case 8
  • Strong long-term profit compounding at 58% CAGR over 10 years demonstrates sustained earnings power through multiple commodity cycles
  • Five-year profit CAGR of 22% comfortably outpaces the five-year sales CAGR of 21%, indicating improving margins and operating leverage
  • P/E of 13.39x on TTM EPS of ₹32.05 is relatively undemanding for a metals and mining company with double-digit profit growth
  • Debt-to-equity ratio of 0.36 reflects a conservatively leveraged balance sheet, providing financial flexibility through cyclical downturns
  • ROCE of 16.3% indicates the company is generating reasonable returns on total capital employed, above typical cost-of-capital benchmarks
  • Ten-year stock CAGR of 35% reflects substantial long-term value creation for shareholders over a full decade
  • TTM profit growth of 20% shows the company continues to deliver double-digit earnings expansion in the most recent period
  • Price-to-book of 2.05x paired with ROE of 14.22% suggests the stock is not excessively priced relative to its equity base
Bear Case 8
  • Stock is trading at ₹429.15, down 31.2% from its 52-week high of ₹624, signalling significant negative price momentum
  • Current price of ₹429.15 is barely above the 52-week low of ₹424.05, indicating the stock may still be searching for a floor
  • One-year stock return of -12% underperforms broader Indian equity markets, reflecting waning investor sentiment
  • TTM sales growth has decelerated sharply to 6% compared to the five-year sales CAGR of 21%, suggesting a meaningful revenue slowdown
  • Three-year ROE of 14% is lower than the ten-year average ROE of 16%, pointing to a declining trend in return on equity
  • Dividend yield of just 0.45% offers minimal income cushion for investors during periods of price weakness
  • As a metals and mining company, earnings are inherently cyclical and the current 13.39x P/E may expand if commodity prices soften and EPS contracts
  • Three-year profit CAGR of 20% has decelerated from the ten-year CAGR of 58%, suggesting the high-growth phase may be moderating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Sarda Energy shows a mixed picture — standalone profit declined 27% YoY due to planned shutdowns, but consolidated EBITDA hit a record high on strong Ferro Alloys performance. Credit upgrades and the Avagudem manganese block win reinforce the company's improving structural position. Key risks include rising debt from the ₹1,000 crore NCD issuance and continued softness in Power and Steel segments. The trend is cautiously positive if Ferro Alloys momentum holds and backward integration benefits materialize over the coming quarters.

Headwinds 2
  • Standalone profit drops 27% YoY Nov 02

    Standalone net profit fell 26.8% YoY to ₹175.49 crore in Q2FY27, dragged down by planned shutdowns and weakness in Power and Steel segments.

  • ₹1,000 crore NCD debt raise Oct 07

    Shareholders approved issuing redeemable non-convertible debentures worth ₹1,000 crore at the 53rd AGM, increasing the company's debt obligations.

Positives 4
  • Consolidated H1 EBITDA record high Nov 02

    Consolidated H1FY27 EBITDA hit a record ₹1,326 crore, up 3.9% YoY, driven by a 52.5% YoY surge in Ferro Alloys segment revenue.

  • CRISIL upgrades credit ratings Nov 02

    Parent company rating upgraded to AA/Stable and subsidiary rating to AA-/Stable, reflecting improved credit profile.

  • Manganese block win strengthens integration Nov 02

    Sarda Energy won the Avagudem Manganese Block in Andhra Pradesh, bolstering backward integration for its Ferro Alloys business.

Neutral 1
  • ₹2 per share dividend ratified Oct 07

    Shareholders ratified a dividend of ₹2 per share at the 53rd AGM held on October 7.

Quarterly Results

₹ Cr
SARDAEN quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,052
1,001
925
889
926
1,159
1,319
1,239
1,633
1,528
1,276
1,254
1,608
Expenses
837
759
737
737
666
821
950
968
1,016
1,016
965
906
955
Operating Profit
215
242
188
152
261
337
369
271
617
512
311
348
653
OPM %
20%
24%
20%
17%
28%
29%
28%
22%
38%
34%
24%
28%
41%
Other Income
83
24
32
43.3
75
55.54
0
46.8
80
68
95
5
108
Interest
35
35
31
28
36
54.76
64
70
62
64
64
54
58
Depreciation
45
46
46
46
45
62
78
87
81
85
86
88
89
PBT
218
186
143
121
255
276
226
160
553
431
255
210
615
Tax %
20%
19%
25%
37%
24%
26%
17%
41%
24%
27%
28%
33%
25%
Net Profit
172
149
114
88
198
203
200
100
437
328
190
155
478
EPS (₹)
4.85
3.99
3.32
2.68
5.64
5.55
5.6
3.07
12.33
9.17
5.4
4.48
13

Profit & Loss

₹ Cr
SARDAEN profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,760
1,480
1,434
2,174
2,324
2,000
2,199
3,914
4,212
3,868
4,643
5,690
5,665
Expenses
1,383
1,289
1,217
1,772
1,842
1,644
1,679
2,559
3,152
3,070
3,406
3,903
3,842
Operating Profit
377
191
217
402
482
356
520
1,355
1,060
798
1,237
1,787
1,824
OPM %
21%
13%
15%
18%
21%
18%
24%
35%
25%
21%
27%
31%
32%
Other Income
−77
35
96
63
17
−17
130
43
49
181
172
247
276
Interest
120
112
94
97
99
82
79
147
124
128
220
244
240
Depreciation
93
75
69
73
76
78
75
143
178
183
271
341
348
PBT
87
39
150
294
324
179
495
1,108
807
667
918
1,449
1,511
Tax %
35%
68%
15%
30%
36%
24%
23%
27%
25%
24%
26%
27%
—
Net Profit
56
13
127
205
207
128
376
807
604
524
702
1,109
1,151
EPS (₹)
1.53
0.35
3.66
5.62
5.64
3.5
10.4
22.31
17.09
14.84
19.86
31.38
32.05
Div. Payout %
20%
143%
11%
9%
9%
14%
7%
3%
9%
7%
8%
6%
—

Balance Sheet

₹ Cr
SARDAEN balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
36
36
36
36
36
36
36
36
35
35
35
35
Reserves
1,174
1,187
1,322
1,540
1,707
1,834
2,182
2,968
3,375
3,853
6,251
7,335
Borrowings
1,482
1,221
1,363
1,386
1,395
1,694
1,714
1,581
1,407
1,366
2,861
2,632
Other Liabilities
352
382
395
451
543
538
587
714
664
747
977
1,369
Total Liabilities
3,044
2,827
3,115
3,413
3,682
4,102
4,518
5,298
5,481
6,002
10,125
11,371
Fixed Assets
1,333
1,226
1,183
1,358
1,349
1,323
1,287
2,853
2,907
2,853
5,845
6,100
CWIP
441
594
799
783
1,063
1,374
1,616
133
132
251
728
472
Investments
279
205
226
241
213
191
266
500
422
659
792
1,645
Other Assets
991
803
907
1,030
1,057
1,214
1,349
1,812
2,020
2,239
2,759
3,154
Total Assets
3,044
2,827
3,115
3,413
3,682
4,102
4,518
5,298
5,481
6,002
10,125
11,371

Cash Flow

₹ Cr
SARDAEN cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−36
469
177
300
480
336
188
917
701
742
886
1,735
Investing
330
−148
−241
−156
−399
−415
−186
−466
−431
−423
−2,132
−1,166
Financing
−385
−383
63
−86
−106
199
−70
−331
−479
−223
1,200
−519
Net Cash Flow
−91
−61
−1
58
−24
120
−68
120
−208
96
−46
50
Free Cash Flow
−50
309
−63
49
155
−16
−115
644
485
477
396
1,400
CFO/EBITDA
−2
254
89
90
123
112
52
87
88
112
74
98

Ratios

SARDAEN financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
20
31
27
22
15
23
23
16
16
10
17
18
Inventory Days
177
84
133
102
107
141
157
107
106
80
115
99
Days Payable
29
42
59
39
46
72
67
46
24
26
28
22
Cash Conversion Cycle
168
72
101
85
76
92
113
77
98
64
105
96
Working Capital Days
7
117
154
99
96
120
97
53
67
49
68
68
ROCE %
12%
6%
8%
14%
13%
8%
15%
29%
19%
15%
15%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Sarda Energy & Minerals insights

64 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.16%
  • Public 15.51%
  • Others 4.25%
  • FIIs 3.62%
  • DIIs 3.47%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Sarda Energy & Minerals

What does Sarda Energy & Minerals Ltd do?
Incorporated in 1973, Sarda Energy & Minerals Limited (SEML) is the flagship company of Sarda Group and is engaged in the production of steel, ferro alloys and power.
Where is Sarda Energy & Minerals Ltd (SARDAEN) listed?
Sarda Energy & Minerals Ltd trades as SARDAEN on the NSE and under code 504614 on the BSE.
Which sector does Sarda Energy & Minerals Ltd belong to?
Sarda Energy & Minerals Ltd is classified under the Metals & Mining sector, in the Iron & Steel industry.
What is the PE ratio of Sarda Energy & Minerals Ltd?
Sarda Energy & Minerals Ltd trades at a PE ratio of 13.77 as of 4 Nov 2026, on earnings per share of ₹32.05, against a book value of ₹229.05 per share.
What is the 52-week high and low of Sarda Energy & Minerals Ltd?
Over the last 52 weeks Sarda Energy & Minerals Ltd has traded between ₹424.05 and ₹624 as of 4 Nov 2026.
Does Sarda Energy & Minerals Ltd pay dividends?
Sarda Energy & Minerals Ltd has a dividend yield of 0.47%.
What is the Return on Equity (ROE) of Sarda Energy & Minerals Ltd?
Sarda Energy & Minerals Ltd reported a return on equity of 15.10%. Its debt-to-equity ratio is 0.36.

Company Information

Incorporated in 1973, Sarda Energy & Minerals Limited (SEML) is the flagship company of Sarda Group and is engaged in the production of steel, ferro alloys and power.

Website seml.co.in
CEO Mr. Kamal Kishore Sarda B.E. (Mech)
Employees 1,905
Listed 3 Dec 2009
Face Value ₹1

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