Sarda Energy & Minerals earnings calls.

Sarda Energy & Minerals delivered a mixed Q1 FY27 with record PAT of ₹478 croreCurrent reported value: ₹478 crore. No comparable prior figure is available in the source record. (up 14.2Current reported value: 14.2. No comparable prior figure is available in the source record.% YoY), though this includes a ₹110 crore one-time benefit from Sikkim hydro regulatory approval; normalized PAT growth was ~5.8%. Revenue from operations stood at ₹1,717 croreCurrent reported value: ₹1,717 crore. No comparable prior figure is available in the source record. (up 9.4Current 9.4 crore vs previous available quarter 32 crore.% YoY) while EBITDA was ₹762 croreCurrent ₹762 crore vs previous available quarter ₹580 crore. (up 4% YoY). The energy segment contributed ~70% of consolidated EBITDA with 380 MWCurrent 380 MW. Reported change: +53% of total capacity. under PPAs, though hydro generation declined ~30% YoY due to delayed monsoon. Steel/ferroalloy production was impacted by planned outages including the 30 MW captive power plant replacement at Raipur (now ready for trial). The company remains net debt-free with ₹2,500+ crore liquidity. Key expansion projects are on track: SKS thermal expansion awaiting environmental clearance (6-8 months), Shahpur West coal mine by FY27-end, and 66 MW Arunachal Pradesh hydro construction starting this fiscal. Management declined to provide specific forward guidance, citing volatile power prices and steel markets. Key risks include monsoon-dependent hydro performance, solar grid oversupply compressing daytime power prices, and geopolitical-driven input cost inflation.