BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
We met the management of Sarda Energy and Minerals Ltd.
Sarda was mainly an integrated producer of long steel products until late 2000s when it forayed into hydro power business seeking diversification and stability in cash flows.
It operates an iron ore mine in Chhattisgarh which meets ~50 of its iron ore requirements while it also has captive thermal coal mine in the same state.
The company is setting up a new hydro power plant at Chhattisgarh with estimated capex of Rs 2.5 billion. Sarda's leverage has improved over FY20-FY22; in FY22, its net debt fell by Rs 3 billion to Rs 9 billion.
Majority of the debt pertains to recently commissioned Sikkim Hydro project- the repayment of which has started as the plant has started generating cash flows.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
