Summary of Key Information:
Reporting Period (Quarter/Year): Quarter ended 30th June 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting comprising approval of unaudited financial results and corporate actions
Audit Opinion:
Unmodified opinion (clean) on both standalone and consolidated financial results as per the Limited Review Report issued by Singhi & Co., Chartered Accountants.
Auditor’s Comment:
The auditors stated that based on their review, nothing has come to their attention that causes them to believe that the financial statements contain any material misstatement. The review report contained standard emphasis of matter paragraphs regarding unreviewed results of certain subsidiaries, associates, and joint ventures, which management considered not material to the group.
Key Financial Highlights [₹ in Crore]:
Standalone Results:
Revenue from Operations: ₹1,162.54 crore (Q1 FY26: ₹1,307.09 crore; Q4 FY26: ₹1,016.74 crore)
- YoY Change: -11.1%
- QoQ Change: +14.3%
Total Income: ₹1,232.55 crore (Q1 FY26: ₹1,377.47 crore; Q4 FY26: ₹1,013.41 crore)
EBITDA: Not explicitly disclosed in standalone results
Net Profit: ₹159.89 crore (Q1 FY26: ₹318.57 crore; Q4 FY26: ₹386.05 crore)
- YoY Change: -49.8%
- QoQ Change: -58.6%
EPS: ₹4.54 (Basic & Diluted) (Q1 FY26: ₹9.04; Q4 FY26: ₹10.96)
Other Equity: Not specified in the data
Cash and Cash Equivalents: Not specified in the data
Debt: Not specified in the data
Consolidated Results:
Revenue from Operations: ₹1,608.04 crore (Q1 FY26: ₹1,633.11 crore; Q4 FY26: ₹1,253.57 crore)
- YoY Change: -1.5%
- QoQ Change: +28.3%
Total Income: ₹1,716.53 crore (Q1 FY26: ₹1,712.68 crore; Q4 FY26: ₹1,258.32 crore)
EBITDA: Not explicitly disclosed in consolidated results
Net Profit: ₹478.13 crore total profit
- Net Profit attributable to Owners of the Company: ₹458.25 crore (Q1 FY26: ₹434.36 crore; Q4 FY26: ₹157.99 crore)
- YoY Change: +5.5%
- QoQ Change: +190.0%
- Net Profit attributable to Non-Controlling Interest: ₹19.88 crore
EPS: ₹13.00 (Basic & Diluted) (Q1 FY26: ₹12.33; Q4 FY26: ₹4.48)
Other Equity: Not specified in the data
Cash and Cash Equivalents: Not specified in the data
Debt: Not specified in the data
Segment-wise Performance [₹ in Crore]:
Standalone Segment Revenue:
- Steel: ₹446.55 crore (Q1 FY26: ₹514.40 crore; Q4 FY26: ₹443.78 crore)
- Ferro Alloys: ₹169.20 crore (Q1 FY26: ₹149.75 crore; Q4 FY26: ₹177.06 crore)
- Power: ₹647.56 crore (Q1 FY26: ₹759.73 crore; Q4 FY26: ₹502.54 crore)
- Unallocated: ₹4.62 crore
Standalone Segment Results (Profit before tax and interest):
- Steel: ₹71.29 crore (Q1 FY26: ₹98.24 crore; Q4 FY26: ₹86.80 crore)
- Ferro Alloys: ₹35.94 crore (Q1 FY26: ₹25.94 crore; Q4 FY26: ₹27.99 crore)
- Power: ₹312.92 crore (Q1 FY26: ₹377.44 crore; Q4 FY26: ₹173.55 crore)
Consolidated Segment Revenue:
Net Sales/Income from operations: ₹1,608.04 crore
Consolidated Segment Results (Profit before tax and interest):
- Steel: ₹71.29 crore
- Ferro Alloys: ₹69.05 crore
- Power: ₹502.75 crore
Corporate Actions:
Dividend: Fixed 14th August 2026 as the Record Date for determining shareholders for payment of dividend for FY 2025-26. The dividend amount per share was not specified in the data.
Fundraising: The Board approved seeking enabling consent of shareholders for raising funds up to ₹1,000 crore through debt instruments.
Other Significant Information:
The consolidated results include a significant one-time adjustment related to the Sikkim Hydropower project: [Non-Recurring]
- Consequent to approval of the final project cost by the Regulator, the group recognized additional revenue from operations and interest income from July 2021 to July 2025
- The group provided for a liability of ₹22.44 crore for an adverse arbitration award (including interest) related to project execution
- The net impact on net profit was ₹110.21 crore (positive)
- The group has challenged the arbitration award in the Divisional Bench of the Hon'ble Delhi High Court
The consolidated results include the following entities:
Subsidiaries: Sarda Energy & Minerals Hongkong Limited, Sarda Global Ventures Pte Limited, Sarda Global Trading DMCC, Sarda Metals & Alloys Limited, Sarda Renewable Energy Limited, Madhya Bharat Power Corporation Limited, Parvatiya Power Limited, Sarda Hydro Power Private Limited, Natural Resources Energy Private Limited, Shri Ram Electricity LLP, Chhattisgarh Hydro Power LLP, Kalvani Coal Mining Private Limited
Associates: Shriram Business Park Private Limited, PT Tigadaya Miergy (Indonesia), Nirihar Commodities Private Limited
Joint Ventures: Raipur Infrastructure Company Limited, Madanpur South Coal Company Limited, Bartunga Coal Private Limited