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Sarda Energy & Minerals Hong Kong Limited (SEMHL)
Sarda Energy & Minerals Hongkong Limited, Hongkong, is a wholly owned subsidiary, functioning as global investment and trading arm of the Company. During 2023-24, the company reported a profit of ₹ 28.78 crore as against profit of ₹ 1.10 crore in 2022-23
Sarda Global Venture Pte Limited
Sarda Global Venture Pte. Limited, Singapore, a wholly owned subsidiary, is having JV with PT Unggul Jaya Indonesia, an Indorama group company, for coal mining in Indonesia under the name P.T. Tigadaya Minergy (TDM). The Mine recommenced production from July 2023. During 2023-24, 557,807 MT (PY Nil) coal was extracted from the Mine. The company reported a net profit of ₹ 13.10 crore in 2023-24 as against net loss of ₹ 10.73 crore in 2022-23
Sarda Global Trading DMCC
Sarda Global Trading DMCC, Dubai, a wholly owned subsidiary, has been incorporated in 2018 with the object of trading in metal ores, scrap and coal. During 2022-23, the subsidiary reported a net loss of ₹ 1.43 crore as against net loss of ₹ 8.75 crore in the previous year. The loss consists of mainly Mark to Market losses on investments.
Sarda Metals & Alloys Limited
Sarda Metals & Alloys Limited (SMAL), a wholly owned subsidiary is operating 2 x 33 MVA and 1 x 36 MVA Ferro Alloys Furnaces backed by 80 MW captive thermal power plant. The Company is a leading manufacturer and exporter of Ferro Alloys enjoying Three Star Export House Status.Sarda Metals & Alloys Limited, a wholly owned subsidiary is operating 102 MVA Ferro Alloys Furnaces backed by 80 MW captive thermal power plant near Vizag port to cater mainly to export market. The Company is a Three Star Export House. The company enjoys long term rating of A/Stable and short-term rating of A1 from CRISIL. During 2023-24, the company was able to achieve PLF of 89.15% against PLF
of 64.60% in 2022-23 and the ferro alloys production increased to 1,14,412 MTs (silico and ferro manganese) in 2023-24 as compared to 79,185 MTs in 2022-23. Power Generation in 2023-24 increased to 626.45 MUs as compared to 452.71 MUs in 2022-23.
During 2023-24, the company exported 1,03,534 MTs (including trading export of 878 MTs) ferro alloys valued ₹ 785.42 crore against 76,242 MTs (including trading export of 3,476 MTs) in 2022-23 valued ₹ 772.27 crore. During 2023-24, the company reported a net profit of ₹ 10.66 crore as against loss of ₹ 19.13 crore in 2022-23.
Sarda Energy Limited
Sarda Energy Limited (SEL), a wholly owned subsidiary earned a net profit of ₹ 3.88 crore in 2023-24 as against net profit of ₹ 5.43 crore in 2023-24. The profit was mainly from share of profit from investment in Chhattisgarh Hydro Power LLP
Parvatiya Power Private Limited
Parvatiya Power Limited (PPL) is operating 4.8 MW Loharkhet Hydro Power project in Bageshwar district of Uttarakhand. The Plant enjoys debt free operations. The Company has supplied 13.28 MU power in2023-24 against 22.12 MU in 2022-23 to the state grid.
Madhya Bharat Power Corporation Limited
Madhya Bharat Power Corporation Limited is operating 113 MW Rongni Chu HEP in Sikkim. The company enjoys A+/Stable rating from India Ratings & Research and A-/Stable from CARE Ratings. The company has a strong presence in the state of Sikkim and has been instrumental in promoting socio-economic development of the project area.
The company has billed 367.25 MU of power in 2023-24 as against 393.22 MU in 2022-23 and reported revenue from sale of power of ₹ 260.08 crore in 2023-24 as against ₹ 251.76 crore in 2022-23. Based on provisional tariff, it has earned post tax profit of ₹ 12.02 crore in 2023-24 as against ₹ 4.49 crore in 2022-23. The determination of final tariff is in process.
The Company holds 84.65% stake in MBPCL (76.43% directly and 8.22% through its wholly owned subsidiary - Sarda Energy Limited).
During the year 2023-24, the company reported loss of ₹ 1.23 crore against profit of ₹ 2.92 crore in 2022-23.
The Company continues to hold 51% stake in PPL.
Chhattisgarh Hydro Power LLP
Chhattisgarh Hydro Power LLP is successfully operating 24 MW Gullu Small Hydro Electric Project (SHP) since last seven years. It is implementing another 24.90 MW small hydro power project named 24.90 MW Rehar I SHP in the nearby location. This project is under construction and has largely completed major civil works. It is likely to be commissioned in the current financial year. The performance of the LLP will significantly improve post commercialisation of the second power plant. CHP LLP enjoys credit rating of [ICRA]A (Stable) from ICRA. Two more small hydro power projects are under different stage of clearances.
During 2023-24, there was lesser than average rainfall in the country, at large. Gullu SHP has generated and supplied 72.45 MU units in 2023-24 as against 79.01 MU units in 2022-23, due to lower water availability. It has earned post tax profit of ₹ 20.46 crore in 2023-214 against ₹ 24.74 crore in 2022-23
Sarda Hydro Power LLP
Sarda Hydro Power LLP has licenses for implementation of two small hydro projects. Survey works for 24.90 MW Kotaiveera SHP is under progress.
The Company holds 60% stake in the LLP.
Shri Ram Electricity LLP.
Shri Ram Electricity LLP was incorporated as a special purpose vehicle (SPV) for setting up a captive thermal power plant. In view of the changed power scenario and cancellation of coal linkage for the power project, the LLP has dropped the project. The Company continues to hold 51% stake in SRE LLP. The firm will be dissolved once coal allocation related matters are closed.
Natural Resources Energy Pvt. Ltd
Natural Resources Energy Private Limited is a Joint Venture with the Company holding 51% stake. During 2023-24, NREPL has been declared as the preferred bidder by Directorate of Geology and Mining, Government of Maharashtra for Surjagad 1 Iron Ore Block in the state of Maharashtra in the auction held for commercial iron ore blocks with 126.35% revenue share. The company is taking /shall take steps as per the instructions received / to be received from the Directorate of Geology and Mining, Government of Maharashtra. No commercial activities have been started.
Raipur Infrastructure Company Ltd.
Raipur Infrastructure Company Limited (RICL) was operating a leased Railway Siding in Mandhar, Raipur. The lease has expired.
The company will be wound-up after closure of pending proceedings and getting refunds from Railways and the tax authorities.
The Company holds one third share in the Joint Venture. During the year 2021-22 the company had achieved total comprehensive income of ₹ 3.68 crore as against loss of ₹ 1.49 crore
in the previous year. The comprehensive income was mainly on account of fair valuation of equity investments.
Madanpur South Coal Co.Ltd.
Madanpur South Coal Company Limited (MSCCL), an SPV was allotted Madanpur South Coal Block in consortium.
The Supreme Court had cancelled all coal block allotments. Consequent to cancellation of coal mines, there
is no business left in the company and no other activity has been planned. During the year 2021-22, MSCCL reported
comprehensive income of ₹ 0.16 crore as against ₹ 0.15 crore in the previous year. MSCCL holds certain assets, including land,
acquired for the project. MSCCL would be wound-up after disposal of these assets. The Company holds 20.13% in MSCCL.
In the current financial year, the company has received compensation for the land acquired for the mining.
Kalyani Coal Mining Private Limited.
Kalyani Coal Mining Private Limited (KCMPL), a wholly owned subsidiary has been incorporated in 2023-24 as a Special Purpose Vehicle for carrying out the Re-opening, Salvaging, Rehabilitation, Development and Operation of Kalyani Underground Mines, in the state of Chhattisgarh. We were declared successful bidder for operation of the coal mine on revenue sharing basis. 4.50% of the revenue, net of taxes, shall be retained by Southeastern Coal Fields Limited (SECL).
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