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Sarda Energy & Minerals Limited Q3 FY26 earnings call summary

NSE: SARDAEN · BSE: 504614

Earnings call of 9 Feb 2026, summarised by AI from the filing.

Sarda Energy Q3 FY26 revenue ₹1,360 cr, EBITDA ₹395 cr, PAT ₹190 cr; FY27 expected better than 2026.

Key takeaways

  1. Guidance FY27 performance expected better than 2026; FY27 capex similar to FY26 except inorganic opportunities.
  2. Net debt Consolidated net debt below ₹500 cr as of 31st December 2025, down from approximately ₹1,500 cr as of 31st March 2025.
  3. Steel prices Steel prices recovered 12-15% from Q3 lows, supporting FY27 outlook.
  4. Shutdowns Q3 impacted by 45-day IPP shutdown and 30 MW captive turbine shutdown from 1st December.

Original filing on BSE

Sarda Energy & Minerals Limited Q1 FY27 results

As filed: Revenue ₹1,608 cr (−2% year on year), EBITDA ₹653 cr (+6% year on year), PAT ₹478 cr (+9% year on year), EBITDA margin 40.6% (+291 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,254 cr (+1% year on year), EBITDA ₹348 cr (+29% year on year), PAT ₹155 cr (+55% year on year), EBITDA margin 27.7% (+593 bps). Score 54 of 100, In line with trend. Revenue and EBITDA growth were below the company's own trend; profit growth was above it. EBITDA margin rose 593 bps year on year. Profit fell 18% from last quarter. Profit rose ₹55.2 cr on a year ago, more than the ₹12.0 cr it added the year before. Share price after the results: −6.7% in 30 days (Nifty 500: +2.7%).
  • Q3 FY26: Revenue ₹1,276 cr (−3% year on year), EBITDA ₹311 cr (−16% year on year), PAT ₹190 cr (−5% year on year), EBITDA margin 24.4% (−354 bps). Score 18 of 100, Below trend. Revenue and profit growth were below the company's own trend; EBITDA growth was well below it. EBITDA margin fell 354 bps year on year. Other income 33% of PBT. Revenue fell 16% from last quarter. Share price after the results: +1.9% in 30 days (Nifty 500: −5.9%).
  • Q2 FY26: Revenue ₹1,528 cr (+32% year on year), EBITDA ₹512 cr (+52% year on year), PAT ₹328 cr (+62% year on year), EBITDA margin 33.5% (+443 bps). Score 82 of 100, Above trend. Revenue and profit growth were above the company's own trend; EBITDA growth was in line with it. EBITDA margin rose 443 bps year on year. Revenue fell 6% from last quarter. Revenue rose ₹369 cr on a year ago, more than the ₹158 cr it added the year before. Share price after the results: −8.6% in 30 days (Nifty 500: −0.5%).
  • Q1 FY26: Revenue ₹1,633 cr (+76% year on year), EBITDA ₹616 cr (+136% year on year), PAT ₹437 cr (+121% year on year), EBITDA margin 37.7% (+954 bps). Score 100 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 954 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: +36.9% in 30 days (Nifty 500: +0.2%).
  • Q4 FY25: Revenue ₹1,239 cr (+39% year on year), EBITDA ₹270 cr (+76% year on year), PAT ₹100 cr (+14% year on year), EBITDA margin 21.8% (+458 bps). Score 56 of 100, In line with trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was in line with it. EBITDA margin rose 458 bps year on year. Other income 29% of PBT. Tax rate 41%. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue fell 6% from last quarter. Share price after the results: −8.3% in 30 days (Nifty 500: +1.0%).
  • Q3 FY25: Revenue ₹1,319 cr (+43% year on year), EBITDA ₹368 cr (+96% year on year), PAT ₹200 cr (+75% year on year), EBITDA margin 27.9% (+758 bps). Score 92 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 758 bps year on year.
  • Q2 FY25: Revenue ₹1,159 cr (+16% year on year), EBITDA ₹337 cr (+39% year on year), PAT ₹203 cr (+36% year on year), EBITDA margin 29.1% (+480 bps). Score 77 of 100, Above trend. EBITDA margin rose 480 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Sarda Energy & Minerals Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.