Date: 23rd May 2026

Financial Performance Summary

Quarterly Performance (Q4 FY26 vs Q4 FY25 vs Q3 FY26)

| Particulars (Rs. Crs) | Q4 FY26 | Q4 FY25 | YoY% | Q3 FY26 | QoQ% |

| Total Income | 1,258 | 1,286 | -2.2% | 1,360 | -7.5% |

| EBITDA | 352 | 318 | 10.8% | 395 | -10.8%|

| Profit After Tax | 155 | 101 | 53% | 190 | -18.3%|

| Cash Profit* | 323 | 253 | 27.7% | 338 | -4.4% |

\*Cash Profit is calculated as Profit After Tax + Deferred tax + Depreciation

Annual Performance (FY26 vs FY25)

| Particulars (Rs. Crs) | FY26 | FY25 | YoY% |

| Total Income | 5,928| 4,815| 23.1% |

| EBITDA | 2,025| 1,410| 43.7% |

| Profit After Tax | 1,109| 702 | 58% |

| Cash Profit* | 1,818| 1,199| 51.6% |

Operational and Strategic Highlights

Record Production and Performance

  • The company achieved its highest ever annual generation and sale of thermal and hydro power.
  • It also recorded its highest ever annual production of Sponge Iron, Iron Ore Pellets, HB Wires, and Coal.
  • The Energy segment emerged as the primary growth driver, contributing two-thirds to the FY26 EBITDA of Rs 2,025 Cr.

Strategic Milestone: SKS Power Acquisition

  • The Hon'ble Supreme Court upheld the Company's resolution plan for SKS Power Generation (Chhattisgarh) Ltd.
  • This paves the way for the company to double its energy capacity by FY30, with a planned expansion to 4x300 MW.

Management Commentary

Mr. Pankaj Sarda, Managing Director, commented on the results:

  • FY26 marked a strategic inflection point with EBITDA crossing the Rs 2,000 Cr mark.
  • The performance was achieved despite global supply disruptions and price volatility, supported by strong domestic demand and operational resilience.
  • Over the past five years, the company has transformed from a mid-sized metals player into a scalable, diversified energy and mining business, evidenced by a 5x energy capacity expansion and a 3x increase in PAT.
  • The company's energy portfolio will be further strengthened by the recent acquisition of a 66 MW hydropower project in Arunachal Pradesh.
  • The company has a net debt-free balance sheet and plans to double its operational energy capacity over the medium term.

Capital Allocation

  • The company announced its highest ever dividend at 200%, led by the PAT growth of 58% YoY.

Corporate Profile

Sarda Energy & Minerals Limited (SEML), incorporated in 1973, is an integrated energy and minerals company with interests in power generation, mining, steel, and ferro alloys. It operates:

  • Thermal and hydro power plants with capacities totaling ~930 MW.
  • Iron ore and coal mines in Chhattisgarh.
  • Manufacturing facilities in Raipur and Vizag.

The company is building a diversified "Energy-plus-Minerals Platform" and holds a CRISIL 'AA– with a positive outlook' credit rating.