Sarda Energy & Minerals Ltd

About [ edit ]

Sarda Energy & Minerals is engaged in the business of steel manufacturing facility starting from iron ore mining to the finished steel in the form of wire rod and H.B. wire. The Company is also a leading manufacturer and exporter of Ferro Alloys enjoying

  • Market Cap 1,911 Cr.
  • Current Price 530
  • High / Low 614 / 130
  • Stock P/E 9.11
  • Book Value 545
  • Dividend Yield 0.94 %
  • ROCE 7.90 %
  • ROE 7.12 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.97 times its book value

Cons

  • The company has delivered a poor sales growth of 2.59% over past five years.
  • Company has a low return on equity of 10.87% for last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 10.68% of profits over last 3 years

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
591 624 591 614 496 555 550 456 438 347 548 604
475 487 472 468 415 446 462 375 361 293 416 455
Operating Profit 117 137 118 146 81 109 88 82 77 54 132 149
OPM % 20% 22% 20% 24% 16% 20% 16% 18% 18% 16% 24% 25%
Other Income 4 -14 -3 8 25 11 11 15 -54 33 23 38
Interest 26 24 26 24 25 23 18 21 21 20 20 17
Depreciation 18 19 19 19 19 19 20 20 19 19 19 19
Profit before tax 75 80 70 112 61 78 62 56 -17 48 116 151
Tax % 32% 43% 43% 31% 27% 35% -16% 24% -70% 19% 26% 23%
Net Profit 54 45 40 77 47 47 69 42 -32 35 84 116
EPS in Rs 14.97 12.49 11.04 21.43 12.96 13.16 19.12 11.72 -8.95 9.84 23.41 32.06

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
949 528 891 1,108 1,405 1,591 1,760 1,480 1,434 2,174 2,324 2,000 1,938
767 447 754 940 1,115 1,265 1,389 1,289 1,217 1,774 1,842 1,641 1,526
Operating Profit 182 81 138 168 290 326 371 190 217 399 482 360 412
OPM % 19% 15% 15% 15% 21% 20% 21% 13% 15% 18% 21% 18% 21%
Other Income 9 121 51 47 49 46 -70 36 96 65 17 -20 40
Interest 3 2 36 72 69 123 120 112 94 97 99 82 78
Depreciation 28 41 60 65 69 96 93 75 69 73 76 78 76
Profit before tax 159 159 93 79 201 154 87 39 150 294 324 179 298
Tax % 17% 9% 23% -12% 19% 40% 35% 68% 15% 30% 36% 24%
Net Profit 132 144 72 87 162 91 55 13 132 202 203 126 203
EPS in Rs 38.91 42.36 19.95 24.31 45.05 25.39 15.27 3.50 36.60 56.17 56.36 35.05 56.36
Dividend Payout % 8% 7% 15% 0% 7% 12% 20% 143% 11% 9% 9% 14%
Compounded Sales Growth
10 Years:14%
5 Years:3%
3 Years:12%
TTM:-6%
Compounded Profit Growth
10 Years:5%
5 Years:-1%
3 Years:-1%
TTM:2%
Stock Price CAGR
10 Years:9%
5 Years:39%
3 Years:8%
1 Year:292%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:11%
Last Year:7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
34 34 36 36 36 36 36 36 36 36 36 36 36
Reserves 491 617 771 864 1,017 1,112 1,174 1,187 1,322 1,540 1,707 1,831 1,929
Borrowings 744 622 787 1,130 1,427 1,737 1,482 1,221 1,363 1,386 1,395 1,694 1,540
88 155 183 307 306 363 352 382 395 451 543 538 631
Total Liabilities 1,357 1,428 1,776 2,336 2,786 3,247 3,044 2,827 3,115 3,413 3,682 4,100 4,137
354 477 750 800 1,428 1,383 1,333 1,226 1,183 1,358 1,349 1,321 1,294
CWIP 360 429 245 613 263 375 441 594 799 783 1,063 1,374 1,471
Investments 377 211 198 133 289 572 279 205 226 241 213 191 268
266 311 584 791 806 917 991 803 907 1,030 1,057 1,214 1,104
Total Assets 1,357 1,428 1,776 2,336 2,786 3,247 3,044 2,827 3,115 3,413 3,682 4,100 4,137

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
212 108 -66 274 247 241 -36 469 177 300 480 345
-574 51 -186 -444 -474 -385 330 -148 -241 -156 -399 -423
302 -113 205 233 218 176 -385 -383 63 -86 -106 199
Net Cash Flow -60 46 -47 64 -9 32 -91 -61 -1 58 -24 120

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 7% 8% 8% 11% 10% 12% 6% 8% 14% 14% 8%
Debtor Days 9 16 18 14 20 15 20 31 27 22 15 23
Inventory Turnover 2.95 2.68 2.70 3.44 3.24 2.52 3.00 3.37 3.95 3.53 2.77

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
72.50 72.50 72.50 72.50 72.50 72.50 72.50 72.50 72.50 72.50 72.50 72.50
2.64 2.33 2.28 2.18 2.16 0.08 0.00 0.19 0.17 0.07 0.05 0.11
0.19 0.13 0.05 0.07 0.09 0.10 0.16 0.15 0.16 0.24 0.41 1.65
24.67 25.04 25.17 25.26 25.25 27.32 27.34 27.17 27.17 27.19 27.04 25.74

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