Sandur Manganese & Iron Ores Ltd
Sandur Manganese & Iron Ores (SMIORE) is involved in mining of low phosphorous manganese and iron ore in the Hospet-Ballari region of Karnataka. It is the flagship company of the Sandur group which was promoted by the former ruler of the princely state of Sandur. It is the fifth-largest iron ore miner in Karnataka and the largest private miner of manganese ore in India. [1]
- Market Cap ₹ 2,568 Cr.
- Current Price ₹ 951
- High / Low ₹ 1,703 / 655
- Stock P/E 7.72
- Book Value ₹ 636
- Dividend Yield 0.53 %
- ROCE 56.8 %
- ROE 50.5 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 64.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.2%
- Company's median sales growth is 15.5% of last 10 years
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Mining & Mineral products Industry: Mining / Minerals / Metals
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
349 | 181 | 161 | 300 | 295 | 222 | 434 | 608 | 702 | 592 | 747 | 2,249 | 2,234 | |
209 | 156 | 134 | 248 | 269 | 222 | 343 | 442 | 477 | 396 | 470 | 1,275 | 1,855 | |
Operating Profit | 139 | 25 | 27 | 52 | 25 | 0 | 91 | 166 | 225 | 195 | 276 | 974 | 379 |
OPM % | 40% | 14% | 17% | 17% | 9% | 0% | 21% | 27% | 32% | 33% | 37% | 43% | 17% |
10 | 13 | 23 | 15 | 3 | -1 | 9 | 11 | 18 | 6 | 13 | 35 | 54 | |
Interest | 2 | 0 | 2 | 0 | 2 | 0 | 7 | 5 | 6 | 7 | 13 | 38 | 30 |
Depreciation | 11 | 11 | 11 | 9 | 5 | 4 | 7 | 7 | 13 | 19 | 27 | 56 | 67 |
Profit before tax | 136 | 27 | 36 | 58 | 21 | -5 | 85 | 165 | 224 | 175 | 250 | 915 | 337 |
Tax % | 33% | 68% | 11% | 34% | 32% | -189% | 35% | 35% | 34% | 16% | 38% | 26% | |
Net Profit | 92 | 8 | 33 | 38 | 14 | -14 | 56 | 107 | 147 | 147 | 154 | 675 | 332 |
EPS in Rs | 34.86 | 3.23 | 12.36 | 14.59 | 5.46 | -5.41 | 21.18 | 40.50 | 56.03 | 54.59 | 57.01 | 250.04 | 123.12 |
Dividend Payout % | 5% | 0% | 0% | 7% | 18% | -18% | 8% | 6% | 4% | 4% | 6% | 1% |
Compounded Sales Growth | |
---|---|
10 Years: | 29% |
5 Years: | 39% |
3 Years: | 47% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | 58% |
5 Years: | 64% |
3 Years: | 67% |
TTM: | -35% |
Stock Price CAGR | |
---|---|
10 Years: | 24% |
5 Years: | 22% |
3 Years: | 92% |
1 Year: | -22% |
Return on Equity | |
---|---|
10 Years: | 23% |
5 Years: | 30% |
3 Years: | 32% |
Last Year: | 50% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 27 | |
Reserves | 292 | 300 | 333 | 368 | 379 | 362 | 423 | 521 | 695 | 831 | 984 | 1,650 | 1,692 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400 | 369 | 310 | 281 | |
180 | 149 | 119 | 109 | 115 | 106 | 136 | 127 | 158 | 222 | 362 | 733 | 608 | |
Total Liabilities | 481 | 458 | 461 | 486 | 503 | 476 | 568 | 657 | 862 | 1,462 | 1,724 | 2,702 | 2,608 |
86 | 81 | 75 | 67 | 74 | 78 | 83 | 123 | 260 | 306 | 808 | 844 | 846 | |
CWIP | 8 | 5 | 18 | 4 | 4 | 1 | 3 | 12 | 202 | 557 | 82 | 42 | 55 |
Investments | 148 | 169 | 191 | 196 | 209 | 175 | 247 | 303 | 65 | 57 | 291 | 376 | 307 |
239 | 203 | 177 | 220 | 216 | 222 | 235 | 220 | 335 | 541 | 543 | 1,439 | 1,400 | |
Total Assets | 481 | 458 | 461 | 486 | 503 | 476 | 568 | 657 | 862 | 1,462 | 1,724 | 2,702 | 2,608 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
28 | 18 | 24 | 6 | 30 | 3 | 80 | 122 | 169 | -13 | 340 | 873 | |
-44 | -20 | -22 | -6 | -20 | 3 | -68 | -106 | -147 | -370 | -249 | -793 | |
-3 | -5 | -0 | -0 | -3 | -3 | -12 | -13 | -12 | 378 | -58 | -106 | |
Net Cash Flow | -19 | -7 | 2 | -1 | 6 | 3 | -0 | 3 | 10 | -6 | 32 | -26 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 31 | 100 | 62 | 69 | 4 | 14 | 5 | 3 | 11 | 19 | 37 | 33 |
Inventory Days | 1,791 | 498 | 782 | 685 | 440 | 238 | 180 | 1,178 | 475 | 145 | ||
Days Payable | 527 | 197 | 419 | 218 | 161 | 142 | 207 | 586 | 672 | 266 | ||
Cash Conversion Cycle | 31 | 1,364 | 363 | 432 | 4 | 481 | 285 | 99 | -16 | 611 | -160 | -88 |
Working Capital Days | -72 | -13 | -52 | 20 | -13 | 13 | -11 | -5 | -16 | 52 | 6 | -16 |
ROCE % | 54% | 8% | 12% | 16% | 6% | -0% | 23% | 35% | 37% | 19% | 20% | 57% |
Documents
Announcements
-
5 Star Rating Awards
2 Mar - Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 - 5 Star Rating Awards
-
Approval For Enhancement In Maximum Permissible Annual Production Of Manganese Ore
22 Feb - Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 - Approval for enhancement in Maximum Permissible Annual Production of Manganese Ore
-
Announcement under Regulation 30 (LODR)-Investor Presentation
10 Feb - Investor Presentation in connection with Un-audited Standalone and Consolidated Financial Results for quarter ended 31 December 2022
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
10 Feb - Announcement under Regulation 47 of the SEBI (LODR) Regulations, 2015 - Newspaper Publication
- Submission Of Statement Of Deviation Or Variation In The Use Of Proceeds Of Rights Issue Under Regulation 32 Of SEBI (LODR) Regulations, 2015 10 Feb
Mining Segment (~34% of revenues)[1]
This is the legacy business of the company wherein it is involved in the mining of iron and manganese ores[2] with capacities of 1.6 MTPA and ~0.3 MTPA respectively. It has reserves of ~105 Million tonnes (MT) and ~17 MT of iron ore (56-58% Fe grade)[3] and manganese ore respectively through its mining leases valid upto 2033.[4]
Proposed Expansion :- The company has sought approval to expand its iron ore mining operations from 1.6 MTPA to 4.5 MTPA and manganese ore mining from 0.28 MTPA to 0.46 MTPA. It has filed requisite applications with the respective government authorities.[5]