Summary of Key Information:

Reporting Period: Quarter and Half Year ended 30th September 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Financial Results

Audit Opinion:

Unmodified opinion issued by statutory auditors Singhi & Co. on both standalone and consolidated unaudited financial results

Key Financial Highlights [₹ in Crore]:

Standalone Results:

Quarter Ended 30.09.2026:

  • Revenue from Operations: ₹1,057.42 crore (QoQ: -9.0% from ₹1,162.54 crore; YoY: -3.2% from ₹1,092.25 crore)
  • Total Income: ₹1,092.59 crore
  • Net Profit: ₹175.49 crore (QoQ: -45% from ₹318.57 crore; YoY: -27% from ₹239.68 crore)
  • EPS: ₹4.98 (Basic and Diluted)

Half Year Ended 30.09.2026:

  • Revenue from Operations: ₹2,219.96 crore (YoY: -7.5% from ₹2,399.34 crore)
  • Total Income: ₹2,325.14 crore
  • Net Profit: ₹494.06 crore (YoY: -21% from ₹625.73 crore)
  • EPS: ₹14.02 (Basic and Diluted)

Consolidated Results:

Quarter Ended 30.09.2026:

  • Revenue from Operations: ₹1,452.84 crore (QoQ: -9.6% from ₹1,608.04 crore; YoY: -4.9% from ₹1,527.78 crore)
  • Total Income: ₹1,504.57 crore
  • Net Profit: ₹320.49 crore (QoQ: -33% from ₹478.13 crore; YoY: -2.2% from ₹327.76 crore)
  • EPS: ₹8.68 (Basic and Diluted)

Half Year Ended 30.09.2026:

  • Revenue from Operations: ₹3,060.88 crore (YoY: -3.2% from ₹3,160.89 crore)
  • Total Income: ₹3,221.10 crore
  • Net Profit: ₹798.62 crore (YoY: +4.5% from ₹764.42 crore)
  • EPS: ₹21.68 (Basic and Diluted)
  • Net Profit attributable to owners: ₹764.14 crore
  • Non-controlling interest: ₹34.48 crore

Segment-wise Performance [₹ in Crore]:

Standalone Segment Revenue (Q2 FY27):

  • Steel: ₹397.90 crore
  • Ferro Alloys: ₹222.80 crore
  • Power: ₹518.11 crore
  • Unallocated: ₹3.67 crore

Standalone Segment Results (Profit before tax and interest):

  • Steel: ₹47.79 crore
  • Ferro Alloys: ₹26.11 crore
  • Power: ₹185.00 crore

Consolidated Segment Revenue (Q2 FY27):

  • Steel: ₹397.90 crore
  • Ferro Alloys: ₹393.57 crore
  • Power: ₹800.61 crore
  • Unallocated: ₹3.66 crore

Consolidated Segment Results (Profit before tax and interest):

  • Steel: ₹47.79 crore
  • Ferro Alloys: ₹66.09 crore
  • Power: ₹386.31 crore

Corporate Actions:

Not Specified

Other Significant Information:

Standalone Cash Flow (H1 FY27):

  • Net cash from operating activities: ₹676.87 crore
  • Net cash used in investing activities: ₹541.63 crore
  • Net cash used in financing activities: ₹169.45 crore
  • Cash and cash equivalents at end: ₹19.63 crore

Consolidated Cash Flow (H1 FY27):

  • Net cash from operating activities: ₹980.85 crore
  • Net cash used in investing activities: ₹663.20 crore
  • Net cash used in financing activities: ₹356.78 crore
  • Cash and cash equivalents at end: ₹68.46 crore

Standalone Assets/Liabilities (as at 30.09.2026):

  • Total Assets: ₹9,530.21 crore
  • Total Equity: ₹7,135.89 crore
  • Total Liabilities: ₹2,394.32 crore

Consolidated Assets/Liabilities (as at 30.09.2026):

  • Total Assets: ₹12,173.90 crore
  • Total Equity: ₹8,212.46 crore (including non-controlling interest of ₹141.13 crore)
  • Total Liabilities: ₹3,961.43 crore

Entities included in consolidation:

Subsidiaries:

  • Sarda Energy & Minerals Hongkong Limited
  • Sarda Global Ventures Pte Limited, Singapore
  • Sarda Global Trading DMCC, Dubai
  • Sarda Metals & Alloys Limited
  • Sarda Energy Limited
  • Madhya Bharat Power Corporation Limited
  • Parvatiya Power Limited
  • Sarda Hydro Power LLP
  • Natural Resources Energy Private Limited
  • Shri Ram Electricity LLP
  • Chhattisgarh Hydro Power LLP
  • Kalyani Coal Mining Private Limited

Associate Company:

  • Shriram Business Park Private Limited

Associate of Subsidiary Company:

  • PT Tigadaya Miergy, Indonesia
  • Nirjhar Commodities Private Limited

Step-Down Subsidiary Company:

  • Adishankar Khuitam Power Private Limited

Joint Ventures:

  • Raipur Infrastructure Company Limited
  • Madanpur South Coal Company Limited
  • Bartunga Coal Private Limited