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An ISO 9001, ISO 14001 & ISO 45001 Certified Company SARDA ENERGY & MINERALS LTD. 31st August 2026 BSE Ltd National Stock Exchange of India Ltd. The Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Phiroze Jeejeebhoy Towers Bandra (E), Mumbai – 400051 Dalal Street – Mumbai 400 001 Fax. No: 022-26598237/38, 022-26598347/48 Security Code No. :504614 Symbol: SARDAEN Series: EQ Dear Sir, Sub: Submission of Annual Report of the Company for the FY 2025-26 Submission of Notice convening 53rd Annual General Meeting Pursuant to Regulation 34 (1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed herewith Annual Report of the Company for the FY 2025-26 and the Notice convening the 53rd Annual General Meeting (AGM) of the Company to be held on 24th September 2026. The Annual Report and the Notice of 53rd AGM is also placed on the website of the Company. Thanking you, Yours faithfully, For Sarda Energy & Minerals Ltd. Company Secretary Encl: As above Contents Corporate Overview 4 Corporate Information 6 5 Message of this Annual Report 8 About Sarda Energy & Minerals Limited 10 Five decades. One direction. 12 Governance built for a broader business 16 Chairman’s Message 20 From the desk of Managing Director 24 Why do all four of our sectors point the same way? 29 Quarterly updates 30 Our value creation business model 34 What matters most 40 Four businesses. One chain. 46 How the six capitals drive our value creation engine Statutory Reports 74 Director’s Report 83 Annexure to the Director’s Report 108 Management Discussion and Analysis 130 Corporate Governance 146 Business Responsibility & Sustainability Report www.seml.co.in Financial Reports For any feedback write to us at Standalone cs@seml.co.in 194 Independent Auditor’s Report 206 Balance Sheet 207 Statement of Profit & Loss 208 Statement of Changes in Equity 209 Cash Flow Statement 211 Notes to Financial Statements Consolidated 269 Independent Auditor’s Report Scan this QR code to navigate 276 Balance Sheet 277 Statement of Profit & Loss Reports and other investor 278 Statement of Changes in Equity information 279 Cash Flow Statement 281 Notes to Financial Statements About the report This Integrated 53rd Annual Report from Sarda Energy & Minerals Limited (SEML) underscores the virtues of the integrated reporting framework, highlighting its forward-looking, comprehensive approach, objectives, strategies, and initiativesa cross sustainability realms for the financial year 2025-26. This report serves as a conduit to enhance accountability, stewardship and trust, capitalising on the transformative potential of technology to improve information dissemination and transparency within the contemporary business landscape. BOUNDARY AND SCOPE OF REPORTING This Report uses original photographs, representational images and certain AI-generated or enhanced visuals This report includes information about Sarda Energy & to support its narrative. Unless specifically identified Minerals Limited’s manufacturing facilities, products as actual, such visuals are illustrative and should not be and operations. It covers disclosures for the period considered representations of the Company’s actual from April 1, 2025, to March 31, 2026. facilities, assets, employees or operations. Their use is limited to presentation and does not affect the REPORTING PRINCIPLE accuracy or reliability of the financial and non-financial Both the financial and non-financial aspects are in information disclosed in this Report. accordance with the applicable laws, regulations and standards of the Republic of India. ASSURANCE The report covers financial and non-financial information TARGET AUDIENCE and the respective activities of the Company. The financial The target audience for this Report includes a range of information constituting the consolidated and standalone stakeholders. These stakeholders may be interested in financial statements have been audited by M/s. Singhi & our Company’s financial and non-financial performance, Co., (Statutory Auditors). M/s. S. G. Kankani & Associates overall strategy, risks, opportunities and outlook. They also (Secretarial Auditor), M/s. S. N. & Co. (Cost Auditor) and M/s. seek transparency, accountability and assurance that our A P A S & Co. (Internal Auditor) have diligently conducted Company is operating in an ethical and sustainable manner. respective audits to help our investors get the assurance As such, the annual report provides required information to of our organization’s reporting from an objective and cater to the diverse needs of the target audience. independent opinion. FORWARD-LOOKING STATEMENTS LEADERSHIP ACCOUNTABILITY Certain statements in this Report regarding Sarda Energy The content of this Report has been reviewed by & Minerals Limited’s business operations may constitute the senior management of our Company, under the forward-looking statements. While these statements reflect supervision of the Board of Directors. The Board the Company’s future expectations, it is important to members have provided essential governance oversight remain mindful that a number of factors could cause actual throughout the process. results to differ materially. weivrevO etaroproC stropeR yrotutatS stnemetatS laicnaniF Annual Report 2025-26 1 Today, scale is about more than size. It is about building businesses that can grow without losing balance, discipline or resilience. Today, integration matters more than expansion alone. Power, resources and manufacturing create greater value when they work together rather than as separate businesses. Today, growth must be built to endure. Capacity can create opportunity. But long-term value comes from resource security, operational discipline, financial strength and the ability to perform consistently across cycles. weivrevO etaroproC stropeR yrotutatS stnemetatS laicnaniF 2 Sarda Energy & Minerals Limited Annual Report 2025-26 3 At SEML, we have spent the past several FY 2025-26 marked another important years reshaping the business around step in this journey. Energy capacity these principles. has expanded nearly five-fold over the past five years. Mining capacity What began as a metals-led enterprise is being progressively strengthened has steadily evolved into a broader through a growing portfolio of and more balanced organisation, coal assets. The metals business where energy has emerged as a continues to record strong operational major earnings contributor, mining is performance while benefiting from developing into a business of strategic greater integration across the value and commercial importance and chain. At the same time, a significantly manufacturing continues to draw stronger balance sheet provides the strength from deeper access to power flexibility to pursue the next phase of and raw materials. growth with confidence. This evolution has not been driven by What gives us confidence is not simply scale for its own sake. It has been built the scale we have created, but the through a series of deliberate choices: foundation beneath it. strengthening existing assets before adding new ones, securing resources This is Built to before expanding downstream Scale. capacity and maintaining financial discipline while investing for the future. weivrevO etaroproC stropeR yrotutatS stnemetatS laicnaniF 2 Sarda Energy & Minerals Limited Annual Report 2025-26 3 Corporate Information BOARD OF DIRECTORS COMPANY SECRETARY Secretarial Auditors Mr. Kamal Kishore Sarda Mr. Manish Sethi S. G. Kankani & Associates Chairman Company Secretaries AUDITORS Office No. 701 & 712 Mr. Pankaj Sarda Statutory Auditors 7th Floor, Orange Hive Managing Director Mowa, Vidhansabha Road M/s. Singhi & Co. Mr. Padam Kumar Jain Raipur (C.G.) - 492005 Chartered Accountants Wholetime Director & Chief J.D. S. Chambers, 1st Floor Financial Officer Internal Auditors 6-Central Avenue Mr. Anant Sarda A P A S & Co. Choubey Colony Non-Executi [Showing first 8,000 characters — download PDF for full document]