An ISO 9001, ISO 14001 & ISO

45001
Certified Company

SARDA ENERGY & MINERALS LTD.

5th August 2024

BSE Ltd National Stock Exchange of India Ltd.

The Department of Corporate Services Exchange Plaza, Bandra Kurla Complex
Phiroze Jeejeebhoy Towers Bandra (E), Mumbai – 400051
Dalal Street – Mumbai 400 001 Fax. No: 022-26598237/38, 022-26598347/48

Security Code No.: 504614 Symbol: SARDAEN Series: EQ

Dear Sir,

Sub: Investor Presentation on the results for the Q1/FY25

With reference to the captioned subject, pursuant to Regulation 30 (6) read with Part A of Schedule III of
SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we are enclosing herewith the
Investor Presentation on the Q1/FY25 results of our Company.

The said Investor Presentation is also being placed on the website of the Company - www.seml.co.in.
The said presentation will also be shared with various Analysts / Investors.

You are requested to take the same on records.

Thanking you,

Yours faithfully,
For Sarda Energy & Minerals Ltd.
PADAM KUMAR Digitally signed by PADAM
KUMAR JAIN
JAIN Date: 2024.08.05 13:34:37 +05'30'

Authorised Signatory

Encl: As above
 Result Presentation | Q1FY25

Sarda Energy & Minerals Limited

‘It’s Energy and Minerals, Not Only Steel’
Safe Harbour Statement
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sarda Energy & Minerals Ltd (the “Company”)
solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall
not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will
be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes
no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and
reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all the information that you may
consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. All product names, logos,
and brands are property of their respective owners. All company, product and service names used in this presentation are for identification purposes
only. Use of these names, logos, and brands does not imply endorsement.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are
individually and collectively forward-looking statements. Such forward-looking statements are not guaranteeing of future performance and are
subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not
limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India
and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion,
technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its
exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially
and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking
information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are
not adopted by the Company and the Company is not responsible for such third-party statements and projections.

‘It’s Energy and Minerals, Not Only Steel’ 2

Table of Contents

1 Sustainable Growth Strategy

2 Q1FY25 - Key Highlights

g
3 SEML – Beyond Steel

.
4 Corporate Social Responsibility

5 Historical Financials

g
h
‘It’s Energy and Minerals, Not Only Steel’ 3
Sustainable Growth Strategy
Building Blocks - for Sustainable Growth

Backward Integration Diversification Strong Focus on ESG

To Reduce Input Costs and Ensure
To Reduce Cyclicality Responsible Corporate Citizen
Consistent Supply

₹
Financial Prowess Capacity Expansion
Augurs Well for Growth To Support Growth

‘It’s Energy and Minerals, Not Only Steel’ 5

Creating Competencies Beyond Metals…
Minerals Energy Metals
(Iron Ore and Coal) (Thermal, Hydro, Solar) (Steel and Ferro)
IRON ORE MINE THERMAL POWER STEEL PRODUCTS ***

▪ Captive: Rajnandgaon, Chhattisgarh ▪ 81.5 MW at Siltara Plant, for captive use ▪ Pellets: 9 lac MT
(1.5 MMT p.a.) ▪ 80 MW at Vizag Plant, largely for captive ▪ Sponge Iron: 3.6 lac MT
▪ Commercial: Surjagad 1 Block, use ▪ Billets: 3 lac MT
Maharashtra * ▪ Commercial: LoI awarded for 2x300 MW ▪ Wire Rod: 2.5 lac MT
operating SKS Power Plant. Forward
▪ H.B. Wire: 45,000 MT
Integration for the Gare Palma IV/7 Coal
Mine. Plan approval application with

COAL MINE
NCLT Mumbai -Reserved for Order
HYDRO POWER ** FERRO ALLOYS
SEML
▪ Commercial: Gare Palma IV/7 (1.44 ▪ 4.8 MW at Uttarakhand
▪ 45 MVA at Siltara Plant
MTPA and applied for increase in ▪ 24 MW at Gullu, Chhattisgarh
▪ 102 MVA at Vizag Plant
capacity to 1.68 MTPA-EC received) ▪ 113 MW at Sikkim
▪ Commercial: Shahpur West * (Stage-1 ▪ 24.9 MW * at Rehar, Chhattisgarh, will be
Forest Clearance received) operational in CY24
▪ Commercial Mining under revenue
sharing model: Kalyani (4.5% SOLAR POWER
revenue share) and Bartunga mine ▪ 50 MW*, for captive use, will be
(18% revenue share) of SECL both operational in Current Financial Year
having high grade coal

* Yet to Be Operational; ** All operational Hydropower Plants are under long-term PPA; *** A part of all production is captively consumed for production of downstream products

‘It’s Energy and Minerals, Not Only Steel’ 6

… Leading to a Well-Diversified Cashflow Profile of the Company

Operating EBITDA Bridge (INR Cr) – Q1FY25

Spread across Cyclical and Non-Cyclical business streams

‘It’s Energy and Minerals, Not Only Steel’ 7

Improvement in Debt Profile and Credit Rating

Standalone (INR Cr) Gross Debt Net Debt* SEML - Credit Ratings – Upward Trajectory

391 345
270
174 171 139 134

(127)
(313)

(903)
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

Gross Debt Net Debt* Oct 17, 2023

Consolidated (INR Cr)
1,687 1,714
1,581
1,383 1,401 1,407 1,366
1,001 Name of Subsidiary Reviewed on Current Previous
682 CRISIL CRISIL
Sarda Metals & Alloys Ltd (SMAL) Nov-2023
A/Stable/A1 A/Stable/A1
41 Chhattisgarh Hydro Power LLP
Nov-2023 ICRA A/Stable ICRA A/Stable
(CHPLLP)

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Madhya Bharat Power Corporation

May-2023 IND A+/Stable/A1 IND A-/Stable/A2+
Ltd (MBPCL)
* Net Debt is calculated as Gross Debt minus Current Investments and Cash & Bank

‘It’s Energy and Minerals, Not Only Steel’ 8

Augmenting Capacity to Foster Growth
Minerals Energy

➢ Gare Palma IV/7 Coal Mine Chhattisgarh: Capacity enhanced from ➢ Hydro Power: 24.9 MW plant on the Rehar river in Chhattisgarh-Expected
1.2 MTPA to 1.44 MTPA in May-23, and increasing further to 1.68 to achieve CoD in CY2024
MTPA during the current financial year and seeking approvals for
further enhancement to 5.2 MTPA which will be carried out in phases. ➢ Thermal Power: 2*300 MW operational plant in Chhattisgarh in proximity to
Also, setting up dedicated Railway Siding for more efficient coal Gare Palma IV/7 Coal mine. Letter of Intent awarded, final court approval
transportation awaited

➢ Solar Power: 50 MW plant to be installed at Chhattisgarh facility for captive

➢ Shahpur West Coal Mine, Madhya Pradesh: Extractable reserves of consumption, replacing costly grid power; Work Under Progress, expected
13.4 MT and Production capacity of 0.6 MTPA – EC, CTE and Stage 1 to achieve COD in FY25
Forest Clearance received

➢ Commercial Mining under revenue sharing model with South-

Eastern Coalfields Ltd (SECL): Awarded MDO contract for Kalyani
Coal Mine (4.50% revenue share to SECL) and for Bartunga Mine
(18% revenue share to SECL) Ferro

➢ Surjagad 1 unexplored Iron Ore Block in Maharashtra: LOI for ➢ Waste to Wealth Project: Setting up manufacturing of Mineral Fibre from
composite license received in Mar-24 waste generated in the manufacturing process of Ferro Alloys, at the existing
Vizag plant. The project is expected to be operational by the end of FY25
➢ Coal Washery: Capacity expansion from 0.96 MTPA to 1.8 MTPA is
under process in-line with increase in mining capacity

‘It’s Energy and Minerals, Not Only Steel’ 9

Strong Focus on ESG

Hydro Power
• Existing Hydropower portfolio of 141.8 MW and another 24.9 MW Rehar
Hydropower plant nearing completion expected to achieve COD in CY24.
• Few more small hydropower projects are under different stages of
approval.

Waste Heat Power

• Existing 21.5 MW of Waste Heat Power generation.

Solar Power
• 50 MW plant to be installed at Chhattisgarh facility for captive
consumption, replacing costly grid power; Work Under Progress. COD
expected in FY25

Waste to Wealth
• Setting up manufacturing of Mineral Fibre from waste generated in the
manufacturing process of Ferro Alloys, at the existing Vizag plant. The
project is expected to be operational by the end of FY25

‘It’s Energy and Minerals, Not Only Steel’ 10

Q1FY25 | Key Highlights
Key Financial Highlights (Consolidated)

Revenue EBITDA PAT Operating EBITDA

Rs 926 Cr Rs 336 Cr Rs 198 Cr Rs 261 Cr

-12% YoY  13% YoY  15% YoY  26% YoY

 4% QoQ  72% QoQ  125% QoQ  61% QoQ

Operational
Performance

‘It’s Energy and Minerals, Not Only Steel’ 12

Consolidated P&L Highlights
INR in Cr Q1FY25 Q1FY24 YoY Q4FY24 QoQ FY24 FY23 YoY
Revenue from Operations 926 1052 -12% 889 4% 3,868 4,212 -8%
Other Income 75 83 43 184 49
Total Income 1,001 1,135 -12% 933 7% 4,052 4,261 -5%
Raw Material 496 679 571 2,407 2,495
Employee Expenses 38 35 34 142 127
Other Operating Expenses 132 124 133 521 529
EBITDA 336 298 13% 196 72% 982 1,110 -12%
EBITDA Margin (%) 33.5% 26.2% 21.0% 24.2% 26.0%
Depreciation 45 45 46 183 178
Finance Cost 36 35 28 128 124
Exceptional Items 0 0 -1 -3 0
Profit Before Tax 255 218 17% 121 111% 667 807 -17%
Tax 60 44 44 159 202
Share of P/L of Associates and JV 4 -2 12 15 -1
Profit After Tax 198 172 15% 88 125% 524 604 -13%
PAT Margin (%) 19.8% 15.2% 9.4% 12.9% 14.2%
EPS (INR) 5.64 4.85 2.68 14.84 16.99

Operating EBITDA * 261 207 26% 162 61% 802 1,052 -24%
Operating EBITDA Margin (%) 28.2% 19.8% 18.2% 20.7% 25.0%
1) Consolidated financial results are not comparable QoQ due to the seasonal nature of Hydro Power business; 2) Other Income includes effect of Mark-to-Market gain/loss on Investment; 3) * Operating
EBITDA excludes Other Income and non-operating gain/loss under Other Expenses;

‘It’s Energy and Minerals, Not Only Steel’ 13

Standalone P&L Highlights
INR in Cr Q1FY25 Q1FY24 YoY Q4FY24 QoQ FY24 FY23 YoY
Revenue from Operations 662 760 -13% 670 -1% 2,733 3,020 -10%
Other Income 63 80 30 185 87
Total Income 725 840 -14% 700 4% 2,919 3,108 -6%
Raw Material 364 517 425 1,792 1,789
Employee Expenses 28 26 25 106 95
Other Operating Expenses 79 76 84 321 296
EBITDA 255 222 15% 166 54% 700 929 -25%
EBITDA Margin (%) 35.2% 26.4% 23.7% 24.0% 29.9%
Depreciation 15 16 17 64 66
Finance Cost 4 4 5 18 16
Exceptional Items 0 0 0 0 0
Profit Before Tax 236 202 17% 144 64% 617 847 -27%
Tax 55 43 43 151 208
Profit After Tax 181 159 14% 101 79% 466 638 -27%
PAT Margin (%) 25.0% 19.0% 14.4% 16.0% 20.5%
EPS (INR)** 5.14 4.52 2.87 13.22 18.02

Operating EBITDA * 190 140 36% 135 41% 511 836 -39%
Operating EBITDA Margin (%) 28.7% 18.4% 20.2% 18.7% 27.7%
1) Other Income includes effect of Mark-to-Market gain/loss on Investment; 2) * Operating EBITDA excludes Other Income and non-operating gain/loss under Other Expenses;

‘It’s Energy and Minerals, Not Only Steel’ 14

Steel Segment – Price Trend

Iron Ore Pellet Sponge Iron Steel Billets Wire Rod H.B. Wire

2,784
1,818
4,136 2,456
4,897 3,201 2,883
4,181 2,365 2,786
3,602 4,037 2,677
3,243 2,162 3,994
3,836
18,124 3,595
INR / MT

15,340
16,141
15,307 17,098 15,059 15,125
14,999 13,370
Value
Addition

22,135 24,304
20,750 20,701 18,028
18,240 19,041 16,748 16,716

10,321 8,546 8,152 9,452 9,157 8,925 9,470 9,460 9,634 Realization

Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25

‘It’s Energy and Minerals, Not Only Steel’ 15

 Production & Sales Trend (1/2)

Iron Ore Pellet (‘000 MT) Sponge Iron (‘000 MT) Steel Billet (‘000 MT)

226 88
210 81 59
195 78 54
Production

46

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

Iron Ore Pellet (‘000 MT) Sponge Iron (‘000 MT) Steel Billet (‘000 MT)

33 35
151 30
128 128 8
Sales

6
5

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

Steel Segment Production was curtailed to sell power which was giving better margin.

‘It’s Energy and Minerals, Not Only Steel’ 16

 Production & Sales Trend (2/2)

Wire Rod (‘000 MT) H. B Wires (‘000 MT) Ferro Alloys (‘000 MT)

50 10 51
47 9 9 47 47
Production

40

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

Wire Rod (‘000 MT) H. B Wires (‘000 MT) Ferro Alloys (‘000 MT)

40 39 10
9 9 46 46 46
31
Sales

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

Steel Segment Production was curtailed to sell power which was giving better margin.

‘It’s Energy and Minerals, Not Only Steel’ 17

Power Segment - Generation & Sales Trend

Thermal Power + Waste Heat = Total Capacity 161.5 MW Hydro Power: Total Operational Capacity ~141.8 MW

Generation (Mn Kwh) Generation (Mn Kwh)

314 308
289
101
87

26

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25*

Sales (Mn Kwh) Sales (Mn Kwh)

93
24 81
17 16
24

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

* Hydropower Generation impacted due to weaker rainfall in catchment area.

‘It’s Energy and Minerals, Not Only Steel’ 18

SEML | Beyond Steel
 Robust and Diversified Business Model
Adding Value through Minerals and Energy

MINERALS ENERGY METALS

✓ Iron Ore mine and Coal Mines provide long term ✓ To de-risk from the cyclicality of Metals business, ✓ Vast experience of 50 years in Steel Manufacturing
stability of raw materials & energy. SEML diversified into renewable energy by foraying
✓ Vertically integrated producer of Long Steel
into a 4.8 MW Hydropower Plant in 2008
✓ Iron ore mine located within 140 kms and Coal Products
mines within 200 kms of the end-user plant at ✓ Annuity-like Revenues with High Margins and
✓ Leading manufacturer & exporter of manganese-
Siltara, Chhattisgarh, thereby further improving Steady Cashflows act as hedge against cyclical
based Ferro Alloys
operational efficiencies. cashflows of Metals Business
✓ Captive inputs like Iron Ore and Coal Mines, and
✓ Iron Ore mine meets ~40% and Coal mines will meet ✓ LoI issued for 2*300 MW operational Thermal
dedicated Thermal Power Plants help in
~100% of the consumption requirements of the Power Plant under CIRP. Forward Integration for
maintaining consistent quality and cost-effective
company. Gare Palma IV/7 Coal Mine
operations
✓ Availability of surplus for commercial sale ✓ Setting up a 50 MW Solar Power plant at Siltara
facility for captive consumption, replacing costly grid
power.

Operational Under Execution Pellet Sponge Iron Billet

Total Capacity Currently Operating
9 Lac MT 3.6 Lac MT 3 Lac MT
Renewable 141.8 MW 74.9 MW
Coal 2.04 MTPA 1.44 MTPA
Wire Rod HB Wires Ferro
Iron Ore Thermal 161.5 MW 2x300 MW*
1.5 MTPA 0.4-0.5 MTPA 2.5 Lac MT 45,000 MT 147 MVA
* LoI Issued

‘It’s Energy and Minerals, Not Only Steel’ 20

Strategically Located Assets – Proximity to Raw Materials and End Users…

Steel and Ferro plant at Siltara, Chhattisgarh

Pellets (9 lac MT), Sponge Iron (3.6 lac MT), Billets (3 lac MT), Wire Rod (2.5 lac MT), H.B. Wire
(45K MT) and Ferro Alloys (45 MVA), backed by Coal based Thermal Power (60 MW) and Waste
Heat Power (21.5 MW)

Ferro Alloys (under SMAL) Plant at Vishakhapatnam

Ferro Alloys Plant at Vizag, ~40 Km from Vishakapatnam Port, has 102 MVA of capacity; backed by
Thermal Power (80 MW) to cater to the export market

Iron Ore and Coal Mines located within ~140 km and ~200 km respectively, from the End-
user plant at Siltara. Gare Palma IV/7 coal mine located within 70 km from the SKS Power
Plant in Raigarh.

Captive Iron Ore Mine at Rajnandgaon, Chhattisgarh (rated capacity of 1.5 MMT p.a.)

Commercial Coal Mine at Gare Palma IV/7, Chhattisgarh (rated capacity of 1.44 MMT p.a.), having
thermal Coal
Commercial Coal Mine at Shahpur West, Madhya Pradesh (rated capacity of 0.6 MMT p.a.) having
High grade coal

Hydro Power Business

Hydro Power Plant at Uttarakhand – 4.8 MW

Hydro Power Plant at Chhattisgarh – 24MW plus 24.9 MW under construction

Hydro Power Plant at Sikkim – 113 MW

‘It’s Energy and Minerals, Not Only Steel’ 21

 …Built Over Five Decades of Excellence

▪ Billet capacity increased by 50%

▪ Pellet capacity increased by 33% in FY21
▪ 4.8 MW Hydro power
▪ 113 MW Sikkim Hydro Power plant commissioned in
plant commissioned in
Jun-21
▪ Company started 24 2008-09
▪ Gare Palma IV/7 Coal Mine commissioned in Dec-21
MW captive power ▪ Pellet plant commenced
at capacity of 1.2 MMT p.a. and received consent to
▪ Installed 25 TPD Electric plant and Ferro Alloy operations in 2009-10
operate at expanded capacity of 1.44 MMT p.a in May-
Arc Furnance in 1990 plant in 2001
▪ 66 MVA Ferro Alloys 23
▪ Acquired Raipur Wires ▪ Acquired 3 Power units - ▪ Commenced fly ash plant & 81.50 MW
and Steel as a sick unit ▪ Coal washery with capacity of 1 MMT p.a. started
1993-94 brick plant Thermal power plant
in 1979 production in Feb-22
▪ Installed Two Sponge ▪ Acquired Iron ore started at Vizag in
▪ Installed 10 MT electric 2012-13 ▪ Ferro Alloys capacity increased by 36 MVA in Dec-22,
Iron Kilns of 30K MT mine; Commenced iron
arc furnace in 1981 to at Vizag plant
each in 1993 & 1995 ore extraction in 2004 ▪ 24.9 MW Hydro Power
produce ingots ▪ Wire Rod Mill capacity increased from 1,80,000 MT to
▪ Sold 2 power units and project commissioned
▪ Installed continuous in July 2017 at 2,50,000 MT, in Mar-23
installed one as captive
casting machine in power plant Chhattisgarh ▪ HB Wire capacity increased from 36,000 MT to 45,000
1984 for billets MT in 2023
production
▪ Iron Ore Pellet capacity increased from 8,00,000
tonnes p.a to 9,00,000 tonnes p.a in Dec-23

1979-88 1989-98 1999-08 2008-17 2018-23

‘It’s Energy and Minerals, Not Only Steel’ 22

 Well-Experienced and Strong Leadership at the Helm

Kamal Kishore Sarda Pankaj Sarda Padam Kumar Jain Manish Sarda Neeraj Sarda
CMD Joint MD Director & CFO DMD, SMAL DMD, SMAL

• Mechanical Engineer with • Mechanical Engineer with • CA, CS with a rich

47 years experience in 19 years experience in • MBA in International • MBA in Finance &
experience of more than
Minerals, Energy and Minerals, Energy and Business with 26 years Marketing with more
38 years
Metals sector Metals sector of experience in Iron than 18 years of
and Steel Industry experience in Ferro
• Responsible for group
• Responsible for the groups • Responsible for steering • Focused on overall Alloys Business
corporate finance,
vision and strategic SEML towards the path of taxation, costing & development of • Responsible for the
direction growth corporate law compliance commercial activities entire Vishakhapatnam
and Ferro Alloys operations
business
• Chairman of Indian
Ferro Alloy Producers’
Association

‘It’s Energy and Minerals, Not Only Steel’ 23

Business Segments
Metals: Well-Established, Robust Presence Across Steel Products…

Pellets Sponge Iron Billets Wire Rods HB Wires

Semi finished steel product Hot rolled product made HB Wires- Wire rods are
Produced from Iron Ore Produced from captive Iron
Description fines & sold domestically Ore Lumps & Pellets
produced by continuous from direct hot billet cold drawn to HB wires to
casting process charging sizes

Current
9,00,000 MT 3,60,000 MT 3,00,000 MT 2,50,000 MT 45,000 MT
Capacity

Captive
~35% ~60% ~85% ~20% NA
Consumption

‘It’s Energy and Minerals, Not Only Steel’ 25

…And a Leading Manufacturer and Exporter of Ferro Alloys

Manganese-based Ferro Alloys Total

Domestic Sales ('000 MT) Exports ('000 MT)
Plant Vishakhapatnam Siltara, Raipur
2 units
Location (SMAL) (SEML)

Current 2*33 MVA

5*9 MVA 147 MVA
Capacity 1*36 MVA

115
Primary 48
Exports Domestic - 84 99
Markets

Exports Awards: 88 80
69 59 34
▪ SEML received Two-Star export house status from GOI
12
▪ SMAL received Three-Star export house status from GOI
FY21 FY22 FY23 FY24 Q1FY25

‘It’s Energy and Minerals, Not Only Steel’ 26

Minerals & Energy: Captive Resources Driving Down Costs Significantly

Captive Iron Ore Mine Coal Mines Captive Thermal + Waste Heat Plants
(Total Capacity of 1.5 MMT p.a.) (Total Capacity of 2.04 MMT p.a.) (Total capacity of 161.5 MW)

Rajnandgaon, Chhattisgarh: Gare Palma IV/ 7 Coal Mine, Chhattisgarh: ▪ Located at both the manufacturing facilities – Siltara
(Chhattisgarh) and Vizag
▪ Operating at a capacity of 0.4 – 0.5 MMT p.a., the ▪ Having extractable reserves of 142 MMT and production
mine is in proximity of only ~140 km from the capacity of 1.44 MMT p.a. Located within ~200 km of end-
▪ The combined power generation capacity stands at
Company’s steel plant at Siltara, Chhattisgarh user plant
161.5 MW

Surjagarh 1, Maharashtra: Shahpur West Coal Mine, Madhya Pradesh:

▪ The average generation (FY20-24) stands at ~1,077
▪ Under development, having high-grade extractable reserves Mn KwH p.a.
▪ LOI for composite License received in Mar-24.Mine
of 13.4 MMT and production capacity of 0.6 MMT p.a.
in exploration stage. It will meet long term iron ore
Located within ~200 km of end-user plant ▪ Both plants combined cater to ~100% of the
requirements of the Company with flexibility of
Company’s in-house power requirement
commercial sale. Kalyani and Bartunga Coal Mine, Chhattisgarh:
▪ SECL has awarded MDO contract in Feb-23 for Kalyani Coal ▪ Setting up a 50 MW Solar Power plant for captive
Mine (4.5% revenue share) and Bartunga Coal Mine (18% consumption, replacing costly grid power
revenue share); Having flexibility of commercial sale

‘It’s Energy and Minerals, Not Only Steel’ 27

Energy: Operational Hydropower Assets of ~141.8 MW…

4.8 MW 24 MW 113 MW

Location Uttarakhand Chhattisgarh Sikkim

Name of the River Sarju Gullu Rongnichu

Year of Commissioning 2008 2017 2021

Tariff INR 3.85 per unit INR 5.21 per unit Final tariff under determination

35-year PPA with

Term of PPA 30-year PPA with State Discom 35-year PPA with State Discom
Chhattisgarh State Discom

PLF - FY24 31% 35% 40%

Debt (Mar-24) Debt Free since 2017 INR 60.04 Cr INR 910.69 Cr

External Credit Rating upgraded by two

Generating Free Cashflow since its first
Key Updates Expansion of 3 MW being proposed notches to A+/A1 by India Ratings and
year of operation
to A- by CARE Ratings in May-23

24.9 MW plant is being installed on the Rehar river in Chhattisgarh; Expected to achieve CoD in CY24

‘It’s Energy and Minerals, Not Only Steel’ 28

…With Track Record of Robust PLF and Annuity-like Revenue + High Margin

Generation and Sales (Mn KwH) Revenue (INR Cr) & EBITDA Margin (%)

Generation Sales* Revenue EBITDA margin

532 88%
494 85%
479
452 73%
423 423 70% 71%

322 325
271
115 115 129 129

58 68

FY20 FY21 FY22** FY23 FY24 FY20 FY21 FY22** FY23 FY24

*Includes only the contractual power sales under long-term PPA

**Includes the effect of 113 MW Sikkim Hydro Project which was commissioned on June 30, 2021

‘It’s Energy and Minerals, Not Only Steel’ 29

Corporate Social Responsibility
Focus on Safety, Health & Social Responsibility

23

7
3 3 4
2

CY18

CY19

CY20

CY21

CY22

CY23
‘It’s Energy and Minerals, Not Only Steel’ 31
Education, Culture and Arts
▪ Initiated Robotic education training in village schools ▪ Play Material support to Aanganwadi to develop Model Aanganwadi

▪ Physics & Chemistry lab material support to Govt college, Kharora ▪ Renovated School Boundary Wall at Mandhar

▪ Meeting with teachers for proposed awareness session at School, ▪ Organized Fire Safety and First Aid Awareness session at 3 schools
Tada village
▪ Support to the Ghasidas Jayanti Cultural Program
▪ Construction of 5 Primary School Buildings in Kawardha District
▪ Support for the devotees of Maa Bamleshwari at Musra
▪ Reward to Meritorious students & Scholarships to BPL Students

‘It’s Energy and Minerals, Not Only Steel’ 32

Healthcare and Infrastructure
▪ Donated 3 Bone Marrow Transplant Units To Balco Medical Centre, ▪ Repair and Renovation of Ambedkar Chowk at Siltara village.
Raipur
▪ Pond Deepening work at Raigarh –Pata Village
▪ Donation to Vedanta Cancer Hospital for Cancer Care of Community
▪ Creation of Model Angan Badies in Mandhar, Girod & Murethi
▪ Organized a Free Eye checkup camp & General Medicine camp at
Siltara, Akoli village ▪ Developed CC Road in Mohdi & Nagargaon Village
▪ Organized Training Program on First Aid Awareness at Siltara
village

‘It’s Energy and Minerals, Not Only Steel’ 33

Livelihood, Environmental & Economic Sustainability

▪ Potable Drinking Water supply through water tanker at Siltara & ▪ Training to SHGs on making of Soft Toys and Costume
Mandhar village Jewellery making

▪ Bricks provided for school and Gothan in villages of Mandhar, Siltara ▪ Conducted Sewing Training program at Tada, Mandhar and
& Tada Akoli

▪ Started Costume Jewellery training at Siltara ▪ Mass Plantation drive

▪ Awareness session on Kitchen Badi development in villages

‘It’s Energy and Minerals, Not Only Steel’ 34

Historical Financials
Strong Balance Sheet: Cushion for Next Level of Growth
Figures in INR Crore
3,889

3,410

3,004
• Improving TOL/ NW ratio along
with strong liquidity position.
2,218 2,199 2,190
2,132
1,971 2,007 • With additional cashflows post
1,870
1,743 1,807 commissioning of Sikkim Hydro
1.14 project and operationalization of
1.04 0.99 Coal Mine, the liquidity has

0.73 strengthened further, building

0.58 cushion for next level of growth
0.52

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

Networth TOL TOL/NW (x)

‘It’s Energy and Minerals, Not Only Steel’ 36

Consolidated P&L – Consistent Growth with High Profit Margins
INR in Cr FY19 FY20 FY21 FY22 FY23 FY24
Revenues 2,324 2,000 2,199 3,914 4,212 3,868
Other Income 17 -17 144 50 49 184
Total Income 2,341 1,983 2,343 3,964 4,261 4,052
Raw Material 1,493 1,293 1,347 2,086 2,495 2,407
Employee Expenses 87 88 89 113 127 142
Other Operating Expenses 261 263 243 360 529 521
EBITDA 499 339 664 1,406 1,110 982
EBITDA Margin (%) 21% 17% 28% 36% 26% 24.2%
Depreciation 76 78 75 143 178 183
Finance Cost 99 82 79 147 124 128
Exceptional Item - - -15 -7 0 -3
Profit Before Tax 324 179 495 1108 807 667
Tax 117 43 115 300 202 159
Share of Associates and JV - -7 -4 -2 -1 15
PAT 207 128 376 807 604 524
PAT Margin (%) 9% 6% 16% 20% 14% 12.9%
EPS (INR) 5.64 3.51 10.40 22.31 16.99 14.84

‘It’s Energy and Minerals, Not Only Steel’ 37

Consolidated BS – Conservative Capital Structure and Strong Liquidity Profile

INR in Cr Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

Share Capital 36 36 36 35 35

Tangible Networth 1,834 2,182 2,968 3,375 3,853

Minority Interest 100 101 104 100 106

Long Term Borrowings 1,408 1,493 1,196 1,063 1,058

Short Term Borrowings 279 221 385 344 308

Other Liabilities 444 486 610 564 641

Total Liability 4,102 4,518 5,298 5,481 6,002

Net Fixed Asset 1,332 1,287 2,854 2,908 2,854

CWIP 1,365 1,616 132 130 250

Investment 169 243 473 388 611

Cash & Cash Equivalents 165 97 282 372 768

Other Assets 1,072 1,276 1,558 1,683 1,519

Total Assets 4,102 4,518 5,298 5,481 6,002

‘It’s Energy and Minerals, Not Only Steel’ 38

Yearly Trend | Production and Sales (1/2)

Iron Ore Pellets Sponge Iron Steel Billet

Production ('000 MT) Production ('000 MT) Production ('000 MT)

800 810
741 325 316 228 229
619 302 291 294 290
600 600 192
175 177
157

FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24

Sales ('000 MT) Sales ('000 MT) Sales ('000 MT)

488 522 517 33 33

161 30 31
438 426 148
131 26 26
121
313 103
82

FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24

‘It’s Energy and Minerals, Not Only Steel’ 39

Yearly Trend | Production and Sales (2/2)

Wire Rod H. B. Wires Ferro Alloys

Production ( ' 0 0 0 M T ) Production ('000 MT) Production ('000 MT)

190 193 39 200

161 38
142 147 32 145 159 164
119 23 26 124 132
21

FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24

Sales ('000 MT) Sales ('000 MT) Sales ('000 MT)

151 154 40 38 195

118 121 127 32 158 157
97 27 139 123 135
20 21

FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24

Increasing sales of Value-Added Product

‘It’s Energy and Minerals, Not Only Steel’ 40

Power Segment: Generation & Sales (Volumes)

Thermal Power + Waste Heat = Capacity of ~162 MW Hydro Power – Capacity of ~141.8 MW

(Figures in Mn KwH) (Figures in Mn KwH)

1,262
532
1,076 1,079 1,083 494 479
999 964 452
423 423

115 115 129 129

173 142 85 85
103 76 71 81

FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22* FY23 FY24

Generation Sales Generation Sales

Note: 1) Thermal Power is largely consumed for captive use; 2) * Hydro power generation increased substantially due to on-streaming of the 113 MW Sikkim Power plant during Q2FY22

‘It’s Energy and Minerals, Not Only Steel’ 41

Share Price Information
Volume ('000 shares) Close Price (Rs)
300 8,000
7,000
250
6,000
200
5,000
150 4,000
3,000
100
2,000
50
1,000
- -
Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24

Capital Market Information (as on 02-Aug-24) Consistently Paying Dividend (INR per share) Shareholding Pattern (as on 30-June-24)

Non
BSE/NSE Code 504614/SARDAEN 1.50 institutions
21.11%
CMP (Rs) 259 1.00
0.75 0.75 Promoters
Market Cap (Rs Cr) 9,141 0.50 72.64%
Institutions
Shares (Cr) 35.2
6.25%
Face Value (Rs) 1.00 FY20 FY21 FY22 FY23* FY24

Equity Shares Spilt from Face Value of INR 10 per share to INR 1 per share effective 04-Aug-23 ; * Includes special dividend of INR 0.75/share

‘It’s Energy and Minerals, Not Only Steel’ 42

 THANK YOU

Mr. Nilay Joshi (Head – Corporate Finance) Ms. Pooja Sharma / Ms. Vinita Pandya
[email protected] [email protected] / [email protected]
125 B-Wing Mittal Court, Nariman Point, Mumbai 400 021 A-405, Kanakia Wall Street, Andheri (East), Mumbai 400 093
www.seml.co.in

‘It’s Energy and Minerals, Not Only Steel’