Central India-based Sarda Energy & Minerals’ iron ore pellet production rose by 45pc to 209,000mt and sales jumped 105pc to 158,000mt in the first quarter of fiscal year 2021-22 compared to the prior year.
The company attributed the increase in iron ore pellet production to the expansion of pellet capacity to 0.8mn mt from 0.6mn mt.
The company’s sponge iron production increased by 41pc to 65,000mt in Q1 (April-June) compared to the prior year and sales declined by 17pc to 19,000mt.
Production, however, declined by 20pc on a quarterly basis due to the planned shutdown of a kiln for 54 days in Q1, which has been restored from July 10.
The company’s wire rod production jumped by 100pc to 44,000mt in Q1 compared to prior-year period and sales volume also increased by 111pc to 38,000mt in the same period. The increase in wire rod production in turn led to the rise in billet production, the manufacturer said.
Ferro alloys production increased by 33pc to 36,000mt in Q1 compared to the first quarter in the prior year, even though of one of the company’s ferro alloy unit remained shut during the quarter due to refurbishment.
The company’s total income surged by 146pc to Rs6,160mn ($82.96mn) in Q1 compared to the prior year on a standalone basis. The company also achieved highest ever PAT of Rs134 crore, up by 491pc.
Sarda Energy & Minerals is an integrated steel producer of long steel products based in Raipur in central India, with an iron ore pellet production capacity of 800,000mt, sponge iron production of 360,000mt, billet production of 300,000mt and wire rod production of 180,000mt.