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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 (PT TDM). During 2022-23, the mining company in Indonesia has acquired 165-hectare land and is in the process of transferring land in the name of PT TDM. The coal extraction is expected from July-2023. The subsidiary reported a net loss of ₹ 10.56 crore as against net loss of ₹11.87 crore in the previous year. The loss consists mainly of impairment loss of investment in coal Mines ₹5.35 crore and share of loss in associates ₹5.13 crore.
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