{"id":180134,"date":"2026-02-09T13:22:55","date_gmt":"2026-02-09T18:22:55","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=180134"},"modified":"2026-02-09T13:22:55","modified_gmt":"2026-02-09T18:22:55","slug":"sarda-energy-q3-results-energy-vertical-drives-ebitda-as-nine-month-profit-surges-59","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/sarda-energy-q3-results-energy-vertical-drives-ebitda-as-nine-month-profit-surges-59\/","title":{"rendered":"Sarda Energy Q3 Results: Energy Vertical Drives EBITDA as Nine-Month Profit Surges 59%"},"content":{"rendered":"\n<p>Sarda Energy &amp; Minerals Limited (BSE: 504614; NSE: SARDAEN) reported a resilient set of results for the third quarter of fiscal 2026, with its strategic shift toward an &#8220;Energy-plus-Minerals&#8221; model driving a significant jump in nine-month profitability despite seasonal maintenance headwinds.<br>The Raipur-based company saw its consolidated Profit After Tax (PAT) for the first nine months of FY26 surge 59% year-on-year to INR 954 crore, up from INR 602 crore in the previous year. For the quarter ended Dec. 31, 2025, consolidated PAT stood at INR 190 crore, a marginal 5% decline from INR 200 crore a year earlier, primarily due to a planned maintenance shutdown at its thermal power operations.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"558\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Sarda-1024x558.jpg\" alt=\"\" class=\"wp-image-180158\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Sarda-1024x558.jpg 1024w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Sarda-300x164.jpg 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Sarda-768x419.jpg 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Sarda-1536x837.jpg 1536w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Sarda-2048x1116.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Energy Segment Emerges as Core Driver<\/h2>\n\n\n\n<p>The company&#8217;s energy vertical has firmly established itself as the primary earnings engine, now contributing more than two-thirds of consolidated EBITDA.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Thermal Power:<\/strong> The SKS Power (IPP Binjkot) unit operated at an 81% Plant Load Factor (PLF). However, Q3 generation was impacted by the scheduled maintenance of one 300 MW turbine.<\/li>\n\n\n\n<li><strong>Expansion:<\/strong> SEML signed two new Power Purchase Agreements (PPAs) during the quarter, enhancing medium-term revenue visibility.<\/li>\n\n\n\n<li><strong>Renewables:<\/strong> A 50 MW captive solar project in Chhattisgarh is currently under installation and is expected to be operational in the first quarter of FY27.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Metals and Mining Operations<\/h2>\n\n\n\n<p>While the energy segment led profitability, the company&#8217;s legacy metals business showed volume resilience.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Production Trends:<\/strong> Ferro Alloys production rose 34% year-on-year to 54,000 MT in Q3. Conversely, steel billet and wire rod production fell 22% and 29% respectively, hampered by the temporary shutdown of a 30 MW captive power unit at the Raipur plant for replacement.<\/li>\n\n\n\n<li><strong>Mining:<\/strong> Operations remained steady, with domestic coal production reaching 466,000 MT in Q3, up 9% YoY, ensuring fuel security for captive power requirements.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Stock Performance<\/h2>\n\n\n\n<p>Shares of Sarda Energy &amp; Minerals were trading at INR 528.95 as of Feb. 6, 2026, giving the company a market capitalization of INR 18,640 crore. The company has maintained a consistent dividend track record, reflecting its strong internal cash generation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Financial Prudence and Outlook<\/h2>\n\n\n\n<p>The company&#8217;s diversified business model provided stability amid seasonal weakness and pricing volatility in the metals sector.<br>The company maintains a strong balance sheet with a liquidity position of approximately INR 2,300 crore . Its credit profile was recently reaffirmed by CRISIL at AA-\/Positive\/A1+.<br>We remain focused on disciplined capital allocation and strengthening our energy mix, pointing to the ongoing ramp-up of thermal and hydro assets as key to future growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sarda Energy &amp; Minerals Limited (BSE: 504614; NSE: SARDAEN) reported a resilient set of results for the third quarter of fiscal 2026, with its strategic shift toward an &#8220;Energy-plus-Minerals&#8221; model driving a significant jump in nine-month profitability despite seasonal maintenance headwinds.The Raipur-based company saw its consolidated Profit After Tax (PAT) for the first nine months [&hellip;]<\/p>\n","protected":false},"author":2381,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,392,5746],"tags":[8890,8161,9148],"class_list":["post-180134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-earnings","category-energy-stocks","tag-basic-materials","tag-energy","tag-steel"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":180841,"url":"https:\/\/alphastreet.com\/india\/shakti-pumps-india-shares-fall-after-q3-fy2026-results\/","url_meta":{"origin":180134,"position":0},"title":"Shakti Pumps India Shares Fall After Q3 FY2026 Results","author":"Staff Correspondent","date":"February 15, 2026","format":false,"excerpt":"Shakti Pumps (India) Limited (NSE: SHAKTIPUMP, BSE: 531431) shares closed at INR 3,023.90 on Monday, representing an intraday decline of 3.80%. 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