Sarda Metals & Alloys Ltd.(SMAL), a wholly owned subsidiary has executed
2X33 MVA Ferro Alloys plant backed by 80 MW captive thermal power plant. In
view of adverse market condition, SMAL is operating the power plant only.
Commercial operation of Ferro Alloys will be started on improvement of
economics of Ferro Alloys industry. Your Company has made equity investment
of Rs. 200 crores in the project. The project has reported profit in the
very first month of its commercial operation in March, 2013.