Sarda Energy Share Price Dips 10% In One Day

Sarda Energy share price tanked more than 10 per cent intraday in today’s trading session.

The Q2 figures of FY17 of Sarda Energy & Minerals recorded standalone net revenue for the quarter declined 2.7 per cent year on year to Rs 254 crores. This was due to revenue decline in the Ferro Alloys and Power segments which were down 9 per cent and 22 per cent year on year, respectively.

However, EBITDA for the period rose 3.4 per cent year on year to Rs 30 crores with an EBITDA margin expansion of 69 bps. This was primarily due to the adjustment for changes in inventories of finished goods, work-in-progress and work-in-progress by 57 per cent year on year.

Also, net profit came in at Rs 13 crores versus Rs 4 crores during 2QFY16. This was due to other income rising by 128 per cent year on year, finance cost falling 25 per cent year on year and effective tax rate falling from 46 per cent to 37 per cent year on year.

Sarda Energy share price opened at Rs 210.00 from a previous closing of Rs 216.65. Today the share price closed at Rs 194.65, down by 10.69 per cent. A total of 2,45,477 shares of the company have been traded on NSE for a total amount of Rs 485.21 lacs.

Sarda Energy produces low cost steel (sponge iron, billets, ingots, TMT bars) and is the biggest suppliers as well as exporters of ferro alloys in India. Based in Raipur, Chhattisgarh, it merged Chhattisgarh Electricity Company Limited (CECL) with itself in the year 2007 with an aim to become the leading energy and minerals company.

Sarda Energy is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research; it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run.

Get the historical share price of Sarda Energy at Sarda Energy share price history.