Sarda Metals & Alloys Ltd. (SMAL), a wholly owned subsidiary is operating 2 x 33 MVA Ferro Alloys plant backed by
80 MW captive thermal power plant. In view of the better market conditions, the company had started production
of ferro alloys from June but due to global down turn in commodities ferro alloys plant did not perform as expected.
During the year, the operation of the plants and assets were badly affected by the HUDHUD Cyclone causing stoppage
of production for around 27 days. The team restored operation in reasonably quick time. Due to adverse market
condition and disruption in operations due to cyclone, inspite of fall in the interest burden, during the year, SMAL has
reported a net profit of Rs. 3.80 crore against Rs. 6.89 crore reported in the previous year.