Mumbai: Sarda Energy & Minerals Limited (SEML) has reported a strong year-on-year performance for the second quarter and half-year ended September 30, 2025, with consolidated Profit After Tax (PAT) rising 90% to ₹764 crore in H1FY26. The company’s energy segment continued to be the primary growth engine, contributing 47% of consolidated revenue and 72% of EBIT in the half-year period.
Consolidated Financial Highlights:
- Revenue from operations stood at ₹1,528 crore in Q2FY26, up 32% YoY, though down 6% sequentially.
- EBITDA rose 48% YoY to ₹580 crore in Q2, with H1FY26 EBITDA reaching ₹1,277 crore, up 75%.
- PAT for Q2FY26 was ₹328 crore, up 61% YoY, while H1FY26 PAT surged 90% to ₹764 crore.
- Cash profit for H1FY26 stood at ₹1,158 crore, up 84% YoY.
Standalone Financial Highlights:
- Revenue from operations grew 43% YoY in Q2FY26 to ₹1,092 crore and 68% in H1FY26 to ₹2,399 crore.
- EBITDA for Q2FY26 was ₹401 crore, up 74% YoY; H1FY26 EBITDA rose 105% to ₹997 crore.
- PAT increased 95% YoY in Q2FY26 to ₹240 crore and 106% in H1FY26 to ₹626 crore.
- Standalone cash profit for H1FY26 reached ₹928 crore, up 101% YoY.
The energy segment contributed ₹715 crore and ₹1,505 crore to consolidated revenue in Q2 and H1 respectively, delivering EBIT of ₹331 crore in Q2 and ₹759 crore in H1. This underscores its pivotal role in SEML’s growth strategy. The metals segment maintained stable volumes despite pricing pressures, reflecting operational resilience.
Production Overview (Q2FY26 vs Q2FY25):
- Sponge Iron: 87,000 MT (↑6%)
- Steel Billet: 57,000 MT (↓1%)
- Ferro Alloys: 51,000 MT (↑6%)
- Power (Thermal): 1,130 Mn kWh (↑422%)
- Power (Hydro): 362 Mn kWh (↑31%)
- Coal: 919,000 MT (↑81%)
Sales Overview (Q2FY26 vs Q2FY25):
- Steel Billet: 12,000 MT (↑62%)
- Sponge Iron: 33,000 MT (↑33%)
- Ferro Alloys: 49,000 MT (↑9%)
- Power (Thermal): 1,016 Mn kWh (↑435%)
- Power (Hydro): 356 Mn kWh (↑37%)
- Coal: 542,000 MT (↑169%)
Hydro power generation saw seasonal uplift, including output from the newly commissioned 24.9 MW Rehar SHP. The IPP acquisition in August 2024 further strengthened SEML’s energy portfolio, though year-on-year comparisons remain non-uniform due to timing.
With a diversified product mix and strong execution across segments, SEML remains well-positioned to sustain its growth trajectory in the second half of FY2025–26.
