Sarda Metals & Alloys Limited (SMAL), a wholly owned subsidiary is operating 2 x 33 MVA and 1 x 36 MVA Ferro Alloys Furnaces backed by 80 MW captive thermal power plant. The Company is a leading manufacturer and exporter of Ferro Alloys enjoying Three Star Export House Status.
During 2022-23, the company had successfully completed the installation of 3rd Furnace of 36 MVA under the expansion project at its existing facility at Vizianagaram. The plant has started production w.e.f. 22nd December 2022. During the year, power generation was 452.71 MUs as compared to 462.50 MUs in the previous year. The ferro alloys production stood at 79,185 MTs as against 85,705 MTs in the previous year. Power generation and ferro alloys production both were down due to shutdown of power plant for major overhauling of power plant after 9 years of its commissioning. Shutdown, falling prices of ferro alloys, high coal prices and inventory losses affected financial performance badly. As a fallout of above the company reported a net loss of ₹19.13 crore as against Net Profit of ₹146.97 crore in previous year
During the FY 2022-23, the company exported 76,242 MTs (including trading export of 3,476 MTs) ferro alloys valued ₹772.19 crore (including trading export of ₹51.16 Crore) against 80,896 MTs (including trading export of 3,118 MTs) in the previous year valued ₹880.59 crore (including trading export of ₹43.95 Crore). With the operationalization of Furnace 3, the power plant is being run at near full capacity which has enabled the company to utilize its idle power capacity and optimize the overall cost.
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