India: Sarda Energy & Minerals Report Highest Ever Captive Iron Ore Consumption in 9M 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 third quarter of FY’19, ending December’18. The company reported highest ever iron ore production of 297,648 MT in 9M FY19 and consumption of 379,137 MT.

Key Operational performance highlights (Consolidated):

1) Pellet production up; sales down significantly : Company’s Iron ore pellet production has increased by 5.5% to 1,71,198 MT in Q3 FY’19 on Q-o-Q basis, while it moved up by 10.8% on Y-o-Y. Its pellet sales significant down by 43% to 88,469 MT Q-o-Q and down by 29.2% Y-o-Y. The company also reported highest ever iron ore production during (Apr-Dec) FY’19 at 2,97,648 MT.

2) Steel Billet & Wire rod production fall on temporary shutdown : Company’s Steel Billet production has decreased by 6.7% in Q3 FY’19 to 36,156 MT on Q-o-Q basis while it up by 5% on Y-o-Y basis. Company reported that its production fall as shut down taken for capital maintenance of power plant. Its sales has increased significantly by 54.4% to 9,194 MT on Q-o-Q basis and up by 71.5% on Y-o-Y.

Similarly, Company’s wire rod production has moved down by 14.5% in Q3 FY’19 to 26,762 MT on Q-o-Q basis and down by 5.8% Y-o-Y. Its sales also fell by 6% to 24,481 MT on Q-o-Q while it was higher by 12.7% Y-o-Y.

3) Ferro Alloys: Company’s ferro alloys production has fall by 8% to 35,643 MT in Q3 FY’19 on Q-o-Q basis and marginally up by 1.3% 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 16,331 MT in Q3 FY19 as against 24,611 MT in Q2FY19 and 18,291 MT in Q3 FY18.

Key Financial performance Highlights:

1) Income from Operation: On a standalone basis, company’s income from operation was recorded at INR 442 crore in Q3 FY19 which has increased by 25% on Y-o-Y basis and up by 6% on Q-o-Q basis.

On consolidated basis, its increased by 17% to INR 614 crore on Y-o-Y basis and by 4% Q-o-Q.

2) Highest Ever PAT: On consolidated basis also, the company’s PAT has significant increased by 93% to INR 77 crore on Q-o-Q basis and up by 43% Y-o-Y.

Sarda Energy & Minerals Production & Sales:

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