Shares of Sarda Energy & Minerals slid 4.21% to ₹438.70 on the NSE after the company disclosed its Q2 FY27 results.
Net profit slipped 5.4% year‑on‑year to ₹306 crore, down from ₹323 crore in the same quarter last year, and revenue fell 4.9% to ₹1,453 crore from ₹1,528 crore.
EBITDA remained virtually flat at ₹513 crore versus ₹512 crore in Q2 FY26, but the margin jacked up to 35.3% from 33.5%, signalling tighter cost control.
Segment figures paint a mixed picture: steel revenue dropped to ₹397.90 crore from ₹447.38 crore, ferro‑alloys stayed near parity at ₹393.57 crore against ₹396.02 crore, and power sales fell to ₹800.61 crore from ₹892.36 crore. Unallocated revenue edged up to ₹3.66 crore from ₹3.54 crore.
First‑half FY27 consolidated segment revenue stood at ₹3,357.73 crore, a 5.6% decline from ₹3,558.90 crore in H1 FY26, underscoring a broader slowdown.
Investors are keen for the upcoming Q3 FY27 filing; analysts expect the company to clarify whether the margin gains can translate into higher profitability in the next quarter.