Sandur Manganese & Iron Ores Ltd

Sandur Manganese & Iron Ores Limited is engaged in mining of manganese and iron ores in Deogiri village of Sandur Taluk, Ballari District, Karnataka. The Company is also engaged in the manufacture of ferroalloys at the Metal & Ferroalloy Plant located at Vyasanakere, Hospet.

Pros:
Company is virtually debt free.
Company has good consistent profit growth of 34.70% over 5 years
Cons:
Company has a low return on equity of 13.61% for last 3 years.
Promoters have pledged 55.21% of their holding

Peer Comparison Sector: Mining & Mineral products // Industry: Mining / Minerals / Metals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Operating Profit
OPM %
Other Income
Interest
Depreciation
Profit before tax
Tax %
Net Profit

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
435 294 363 206 219 347 351 269 434 612
206 259 223 188 193 291 308 249 335 439
Operating Profit 229 36 140 18 26 57 42 20 99 174
OPM % 53% 12% 39% 9% 12% 16% 12% 7% 23% 28%
Other Income 5 13 3 9 23 17 4 6 10 13
Interest 0 2 2 1 2 0 2 0 7 5
Depreciation 10 11 14 19 19 18 10 9 12 12
Profit before tax 223 36 128 7 27 56 35 16 90 169
Tax % 35% 38% 35% 244% 14% 35% 20% 57% 33% 34%
Net Profit 146 24 85 -8 25 37 25 7 60 110
EPS in Rs 165.73 26.50 96.25 0.00 28.49 41.56 28.51 7.90 68.45 126.26
Dividend Payout % 2% 11% 5% -0% 0% 7% 10% 36% 4% 6%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:22.82%
3 Years:20.43%
TTM:41.20%
Compounded Profit Growth
10 Years:%
5 Years:34.70%
3 Years:61.45%
TTM:84.47%
Return on Equity
10 Years:%
5 Years:12.15%
3 Years:13.61%
Last Year:23.01%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
9 9 9 9 9 9 9 9 9 9
Reserves 177 198 278 270 295 329 351 355 420 522
Borrowings 19 16 12 0 0 0 0 0 0 0
199 201 221 191 183 193 193 145 167 156
Total Liabilities 404 424 519 470 487 530 552 508 596 687
99 111 252 241 229 222 225 224 225 262
CWIP 47 115 8 13 28 5 4 3 4 12
Investments 50 61 83 18 40 45 58 48 119 175
208 136 176 197 190 258 264 234 248 238
Total Assets 404 424 519 470 487 530 552 508 596 687

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
171 33 56 -66 32 16 36 -7 85 128
-135 -62 -67 60 -28 -9 -24 4 -71 -106
18 -4 -8 -5 -0 -0 -3 -3 -13 -13
Net Cash Flow 54 -34 -20 -12 4 8 9 -7 1 9

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 17% 50% 2% 10% 17% 11% -1% 25% 36%
Debtor Days 25 31 20 81 31 43 6 10 5 3
Inventory Turnover 8.27 10.79 3.96 4.71 7.02 4.92 3.74 5.82 6.97