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Chhattisgarh-based producer of steel, ferro alloys and captive power, with iron ore mining operations.
Chhattisgarh-based producer of steel, ferro alloys and captive power, with iron ore mining operations.
Makes steel, ferro alloys and power in one chain: it mines iron ore, converts it to sponge iron and billets, and runs its own power plants, so profit depends on the spread between finished-product prices and its own input costs. Spare electricity is sold to the grid.
In one line: A small, vertically integrated Indian steel/ferroalloy producer.
Moat: narrow (scale, installed base). Backward integration into mining and captive power gives cost advantages versus non-integrated steelmakers.
Headquarters: Raipur, India · Founded: 1973 · Employees: 5,475
Size Sarda Energy & Minerals (SARDAEN.NS) is an India Materials company (Steel) with a market value of $1.63B, the 433rd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹436.10 on 6 Nov 2026.
Performance Over six months the shares fell 26.6%, against -18.0% for the median peer and 0.0% for the India market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 2.2% over the last twelve months (peer median +3.0%); the operating margin is 26.3% (peer median 5.9%).
Valuation It trades at 2.8× enterprise value to sales against a peer median of 1.0× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (14.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹55.9B | ₹56.9B | ₹46.4B | ₹38.7B | ₹42.1B |
| Revenue growth | — | +23% | +20% | -8% | — |
| Gross profit | ₹22.9B | ₹17.6B | ₹12.6B | ₹8.30B | ₹11.2B |
| EBITDA | ₹18.2B | ₹18.0B | ₹12.4B | ₹8.02B | ₹10.5B |
| Net income | ₹11.1B | ₹11.1B | ₹7.00B | ₹5.23B | ₹6.02B |
| Free cash flow | n/a | ₹12.8B | ₹2.80B | ₹4.09B | ₹3.97B |
| Capital expenditure | n/a | ₹3.38B | ₹4.90B | ₹2.66B | ₹2.17B |
| Total debt | ₹24.6B | ₹26.3B | ₹28.6B | ₹13.7B | ₹14.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Sarda Energy & Minerals SARDAEN.NS | $1.63B | -27% | -2% | 26% | 2.8× | 10.6% |
| Godawari Power & Ispat GPIL.NS | $1.49B | -31% | +8% | 19% | 2.4× | 21.7% |
| Jindal Steel JINDALSTEL.NS | $12.6B | -7% | +26% | 10% | 2.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SARDAEN.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.7% | -3.4% | 5th lowest of 21 |
| 6-month return | -26.6% | -18.0% | 8th lowest of 21 |
| Distance from 52-week high | -30.1% | -34.6% | 8th highest of 21 |
| Revenue growth (TTM) | -2.2% | +3.0% | 9th lowest of 21 |
| Operating margin | 26.3% | 5.9% | 2nd highest of 20 |
| EV / Sales | 2.8× | 1.0× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 10.6% | 9.1% | 8th most demanding of 16 |
| Growth delivered (Del g) | +20.9% | +6.3% | highest of 16 |
| Hurdle (Req g minus delivered) | -10.3 pp | +6.4 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | -0.7 pp | -1.5 pp | 6th highest of 20 |
| EV / EBITDA | 8.4× | 11.1× | 3rd cheapest of 7 |
| Net debt / EBITDA | -0.1× | 0.8× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sarda Energy & Minerals SARDAEN.NS | India | $1.63B | -27% | -2% | 26% | 2.8× | 10.6% | +20.9% |
| Chongqing Iron & Steel 601005.SS | China | $1.63B | -17% | -12% | -13% | 0.8× | n/a | n/a |
| Jindal Saw JINDALSAW.NS | India | $1.70B | +4% | -1% | 6% | 1.1× | 17.5% | +10.9% |
| China Nonferrous Metal Industry's Foreign Engineering and Construction 000758.SZ | China | $1.72B | -17% | +42% | 7% | 1.5× | 9.1% | +8.4% |
| Sichuan Anning Iron and Titanium 002978.SZ | China | $1.72B | -22% | -10% | 41% | 8.3× | 6.1% | +4.2% |
| Suzhou Hesheng Special Material 002290.SZ | China | $1.51B | -50% | +1% | 7% | 4.0× | 34.8% | +7.1% |
| Godawari Power & Ispat GPIL.NS | India | $1.49B | -31% | +8% | 19% | 2.4× | 21.7% | +6.3% |
| Ratnamani Metals & Tubes RATNAMANI.NS | India | $1.83B | -13% | -16% | 14% | 4.0× | 27.4% | +14.4% |
| Dalian Huarui Heavy Industry 002204.SZ | China | $1.43B | -28% | +5% | 4% | 0.7× | -3.8% | +13.9% |
| Ryerson RYZ | United States | $1.43B | +1% | +53% | 1% | 0.4× | n/a | n/a |
| Tung Ho Steel Enterprise 2006.TW | Taiwan | $1.86B | +26% | -4% | 12% | 1.1× | -10.3% | +6.2% |
| Worthington Steel WS | United States | $1.88B | -9% | +69% | 3% | 0.9× | 26.5% | -1.5% |
| Fangda Special Steel Technology 600507.SS | China | $1.38B | -32% | +8% | 3% | 0.6× | n/a | n/a |
| Gallantt Ispat GALLANTT.NS | India | $1.36B | -38% | +6% | 11% | 2.9× | 39.6% | +16.0% |
| Shandong Iron and Steel 600022.SS | China | $1.98B | -12% | -10% | n/a | 0.8× | 1.3% | -5.1% |
| HBIS Resources 000923.SZ | China | $1.33B | -19% | -5% | 0% | 1.9× | n/a | n/a |
| Outokumpu OUT1V.HE | Finland | $1.99B | -31% | -7% | -1% | 0.4× | 14.0% | -0.7% |
| YODOKO 5451.T | Japan | $1.31B | +1% | -2% | 6% | 0.8× | 0.3% | +6.0% |
| Impro Precision Industries 1286.HK | Hong Kong | $1.30B | -52% | +20% | 18% | 2.0× | -1.6% | +11.7% |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 2% | 0.6× | -6.9% | -2.8% |
| Yongjin Technology 603995.SS | China | $1.28B | +22% | +11% | 2% | 0.3× | n/a | n/a |