Sarda Energy Share Price: Q3 Mein Margins Tight, Lekin 9 Mahine Ka Profit Blast! SKS Power Deal Par Tension?

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AuthorVihaan Mehta|Published at:
Sarda Energy Share Price: Q3 Mein Margins Tight, Lekin 9 Mahine Ka Profit Blast! SKS Power Deal Par Tension?
Overview

Sarda Energy & Minerals ke liye Q3 FY26 numbers thode pressure mein dikh rahe hain. Revenue **3.3%** gira hai aur EBITDA margins bhi **24.36%** tak aa gaye hain, jo last year ke **27.95%** se kam hai. Lekin nine months mein consolidated profit **60.2%** bhaga hai, thanks to SKS Power ka acquisition.

Dekho bhai log, Sarda Energy & Minerals ne Q3 FY26 ke results diye hain aur number dekhke lag raha hai ki company ke operations mein thoda sa squeeze aaya hai. December quarter mein company ka consolidated revenue 3.3% saal-dar-saal ₹1,276 crore pe aa gaya. EBITDA bhi 15.7% gir kar ₹310.8 crore ho gaya. Sabse important, EBITDA margins 24.36% pe compress ho gaye, jo pichhle saal isi quarter mein 27.95% the. Standalone basis par bhi net profit ₹189.2 crore se gir kar ₹163.1 crore ho gaya. Matlab, operational performance mein thodi kami dikhi hai.

Ab suno yeh exciting part! Jab nine months ki baat karte hain, toh Sarda Energy ka consolidated net profit 60.2% bhaag kar ₹947.9 crore ho gaya, aur revenue bhi 30.3% badh kar ₹4,436.9 crore ho gaya. Yeh bada leap aaya hai company dwara SKS Power Generation (Chhattisgarh) Limited ko acquire karne ki wajah se, jo September 2024 mein complete hua tha. Company khud bol rahi hai ki iss acquisition ki wajah se results comparable nahi hain.

Lekin yahaan ek bahut bada 'BUT' hai, jiske baare mein sabko jaan na chahiye. Yeh jo SKS Power ka acquisition hai na, yeh Supreme Court mein challenge ho raha hai aur court ne order reserve kar liya hai. Matlab, agar Supreme Court ka decision company ke khilaaf aaya, toh yeh jo 60.2% ka profit growth dikh raha hai, woh suddenly change ho sakta hai. Yeh ek badi tension wali baat hai.

Ab stock price ki baat karein toh, company ke share ne pichhle ek saal mein 13.67% ka return diya hai aur Friday ko ₹530 pe close hua. Valuation ki baat karein toh, Sarda Energy ka P/E ratio lagbhag 17.5x hai. Agar steel sector ke peers ko dekhein toh JSW Steel ka 38.46x, Tata Steel ka 33.34x, aur SAIL ka 21.45x hai. Power sector mein NTPC ka 14.64x, Power Grid Corpn ka 17.54x hai, jo Sarda Energy ke aas paas hain. Company ka ROCE bhi 15.27% hai, jo kaafi accha hai.

Indian steel sector government policies ki wajah se grow kar raha hai, aur energy sector bhi pichhle saal 15% badha hai. Charts bol rahe hain ki moving averages aur MACD se buy signals aa rahe hain, lekin price badhne ke saath volume kam ho raha hai, jo thoda cautionary hai.

Analysts isko 'Hold/Accumulate' kar rahe hain. Company ne February 9, 2026 ko ek investor call bhi rakhi hai jahan woh business strategy aur outlook discuss karenge. Toh, Sarda Energy ka future SKS Power deal ke court decision aur operational performance stable karne par depend karta hai.

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