Sarda Energy & Minerals Limited (SEML) – one of the major steel producers in central India has recently released its operational and financial performance for the third quarter of FY’20, ending December’19.
As per company report, the performance has been weak amid planned shutdown operations during the Q3 FY20, however the same has resumed operation since Nov 2019 end.
Key operational performance highlights (Consolidated):
— Company’s iron ore pellet production has reduced by 7% to 158,416 MT in Q3 FY ’20 on Y-o-Y basis, and slightly fell by 2% on Q-o-Q compared to 162,218 MT in Q2 FY’20. Its Iron ore pellet sales moved sharply down by 46% Q-o-Q to 50,862 MT in Q3 FY’20 and fallen by 43% Y-o-Y.
— Sponge iron production (83,952 MT) & sales (42,624 MT) down by 9% & 21% Q-o-Q in Q3 FY’20.
— Wire rod production has increased by 16% in Q3 FY ’20 to 39,258 MT on Q-o-Q basis and up by 47% Y-o-Y. In the same line, its sales surged significantly by 12% to 32,341 MT on Q-o-Q and up by 32% Y-o-Y.
— Ferro Alloys production was slightly up by 3% to 30,565 MT in Q3 FY’20 on Q-o-Q basis and down by 14% Y-o-Y. In line with this, the company’s sales for ferro alloys fell by 10% Q-o-Q to 28,937 MT in Q3 FY’20 & down by 5% on Y-o-Y basis.
— Meanwhile the company’s steel billet production has surged by 10% in Q3 FY ’20 to 47,577 MT on Q-o-Q basis, and also it moved up by 32% on Y-o-Y basis. Billet sales decreased by 11% to 7,269 MT on Q-o-Q basis.
Financial Performance Highlights:
1) Revenue from Operation: On a consolidated basis, the company’s revenue from operations at INR 456.47 crore in Q3 FY’20 which has come down by 17% on Q-o-Q basis.
2) PAT: On a consolidated basis, the company has recorded profit after tax of INR 43.05 crore in Q3 FY’20, While on Q2 FY20 it was at INR 71.43 crore.
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