Sarda Energy and Minerals - Q1FY2014 Result Review - Angel Broking

Sarda Energy and Minerals (SEML) reported its 1QFY2014 numbers. The net sales declined by 8.8% yoy to Rs. 307cr mainly due to decline in billet sales volumes (down 60.9% yoy to 2,591 tonnes). The EBITDA declined 4.5% yoy to Rs. 55cr in line with decrease in net sales. The other income however increased by 205.7% yoy to Rs. 21cr which led to net profit growing by 48.1% yoy to Rs. 30cr. We maintain our Buy rating on the stock with a revised target price of Rs. 98.

Source : Equity Bulls

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