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Sarda Energy Q2: Net profit falls 5%, revenue declines 5%; EBITDA margin improves - Published OnOct 31, 2026 | 14:42 IST - Last Updated OnOct 31, 2026 | 17:47 IST Sarda Energy offset weaker top-line contributions across its power and steel divisions through tighter cost controls, resulting in stable operating earnings and an expanded operating margin. Discover how management plans to revive demand across its core industrial segments in the upcoming quarters. Raipur-based Sarda Group's flagship firm Sarda Energy & Minerals reported a 5.4% year-on-year decline in consolidated net profit to ₹306 crore for the second quarter of FY27, compared to ₹323 crore in the corresponding quarter last year. Revenue declined 4.9% to ₹1,453 crore from ₹1,528 crore a year ago. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) remained largely unchanged at ₹513 crore against ₹512 crore in Q2 FY26. However, EBITDA margin improved to 35.3% from 33.5% in the year-ago quarter. The company said that it reported its highest-ever H1 EBITDA of ₹1,326 crore, up 4% year-on-year, despite planned maintenance shutdowns and outages. H1 profit after tax (PAT) rose 5% to ₹799 crore. Energy remained the key earnings contributor, accounting for more than 75% of EBITDA during the first half, as per a press release filed at NSE. The pellet plant also achieved record-high half-yearly production of 4,29,059 MT. Separately, the company's subsidiary, Sarda Metals and Alloys Limited, bagged the Avagudem Manganese Block in Andhra Pradesh, marking the group's entry into manganese ore mining. Commenting on the results, Pankaj Sarda, Managing Director, said, “Despite the planned operational shutdowns at some of our facilities, we delivered a resilient performance during H1 FY27 achieving our highest-ever half-yearly EBITDA." He said, "Our expansion plans across energy and mining remain on track, supported by a strong balance sheet and disciplined capital allocation." He added that going forward, they remain focused on timely execution, improving asset utilisation and unlocking greater operational synergies across their integrated businesses to drive sustainable long-term growth and value creation. Segment performance The company's consolidated segment revenue stood at ₹1,595.74 crore in Q2 FY27, compared to ₹1,739.30 crore in Q2 FY26. Steel segment revenue declined to ₹397.90 crore from ₹447.38 crore, while Ferro Alloys revenue stood at ₹393.57 crore against ₹396.02 crore. Power segment revenue fell to ₹800.61 crore from ₹892.36 crore in the corresponding quarter last year. Unallocated revenue stood at ₹3.66 crore against ₹3.54 crore. For the first half of FY27, total segment revenue stood at ₹3,357.73 crore, compared to ₹3,558.90 crore in H1 FY26. Shares of Sarda Energy & Minerals ended 4.21% lower at ₹438.70 on the NSE on October 30, ahead of earning announcement. Also Read: Egypt fears escalation in Iran war would be more destructive, foreign minister says
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