India: Sarda Energy’s pellet production marginally down y-o-y in Q1FY’27

• Pellet production rises 27% q-o-q
• Pellet sales decline 16% y-o-y

Sarda Energy and Minerals Ltd (SEML) produced 224,097 t of iron ore pellets in Q1FY’27 (Apr-Jun), down 3% y-o-y from 230,375 t in Q1FY’26. However, output recovered 27% q-o-q from 176,606 t in Q4FY’26, supporting the company’s operating performance despite temporary disruptions in other business segments during the quarter.

Pellet sales fell 16% y-o-y to 116,983 t from 139,650 t a year ago, indicating lower external dispatches. On a sequential basis, however, sales improved 58% from 73,892 t in Q4FY’26, reflecting stronger dispatches alongside higher production.

The company has a current pellet-making capacity of 900,000 t made from iron ore fines produced domestically. With 42% captive consumption the company had average pellet realisation of INR 10,100/t.