Sandur Manganese & Iron Ores Ltd

₹ 208 1.96%

10 Jul 10:45 a.m.

sandurgroup.com BSE: 504918 NSE: SANDUMA

About

The Sandur Manganese & Iron Ores Limited (SMIORE), the flagship company of the Karnataka based Sandur Group, incorporated in 1954. Company is involved in mining of low phosphorous manganese and iron ore in the Hosapete Ballari region of Karnataka. In addition, Company manufactures ferro-alloys (silico-Manganese and ferro manganese) and coke at its plant in Vyasankare, near Hospet.^[1] It is the 3rd Largest Manganese ore miner in India.^[2]

Key Points

Business Segments^[1]

Website BSE NSE

Market Cap ₹ 10,106 Cr.
Current Price ₹ 208
High / Low ₹ 273 / 141
Stock P/E 18.1
Book Value ₹ 64.0
Dividend Yield 0.20 %
ROCE 24.4 %
ROE 19.6 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has delivered good profit growth of 29.3% CAGR over last 5 years
Company's median sales growth is 20.8% of last 10 years
Company's working capital requirements have reduced from 84.2 days to 34.3 days

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

Commodities Metals & Mining Ferrous Metals Iron & Steel

Part of BSE Commodities Nifty Microcap 250 Nifty Total Market BSE 1000 Nifty Smallcap 500

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	608	363	185	153	552	602	260	482	595	423	436	483	668
	372	305	147	136	344	411	223	289	359	216	253	305	379
Operating Profit	235	58	38	17	208	191	38	193	236	207	184	178	290
OPM %	39%	16%	20%	11%	38%	32%	14%	40%	40%	49%	42%	37%	43%
	17	18	18	15	31	23	25	17	8	12	10	5	18
Interest	7	6	5	5	4	4	5	25	39	31	30	27	35
Depreciation	16	14	14	15	15	14	14	15	16	16	16	17	15
Profit before tax	229	56	36	13	219	196	43	169	189	173	148	139	258
Tax %	24%	29%	26%	25%	26%	25%	26%	25%	26%	25%	25%	22%	24%
	174	40	26	10	162	146	32	127	139	129	110	108	196
EPS in Rs	3.58	0.82	0.54	0.20	3.34	3.01	0.66	2.61	2.87	2.65	2.27	2.22	4.04
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	295	222	434	608	702	592	747	2,249	2,126	1,252	1,939	2,011
	269	222	343	442	477	396	470	1,275	1,733	932	1,282	1,152
Operating Profit	25	0	91	166	225	195	276	974	393	320	656	858
OPM %	9%	0%	21%	27%	32%	33%	37%	43%	18%	26%	34%	43%
	3	-1	9	11	18	6	13	35	59	82	73	46
Interest	2	0	7	5	6	7	13	38	28	20	73	124
Depreciation	5	4	7	7	13	19	27	56	64	58	60	64
Profit before tax	21	-5	85	165	224	175	250	915	359	324	597	717
Tax %	32%	189%	35%	35%	34%	16%	38%	26%	25%	27%	26%	24%
	14	-14	56	107	147	147	154	675	271	238	445	543
EPS in Rs	0.30	-0.30	1.18	2.25	3.11	3.03	3.17	13.89	5.57	4.90	9.14	11.17
Dividend Payout %	18%	-18%	8%	6%	4%	4%	6%	1%	5%	7%	5%	4%

Compounded Sales Growth
10 Years:	25%
5 Years:	22%
3 Years:	-2%
TTM:	4%

Compounded Profit Growth
10 Years:	42%
5 Years:	29%
3 Years:	28%
TTM:	33%

Stock Price CAGR
10 Years:	34%
5 Years:	39%
3 Years:	45%
1 Year:	29%

Return on Equity
10 Years:	20%
5 Years:	21%
3 Years:	17%
Last Year:	20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	9	9	9	9	9	27	162	162	486
Reserves	379	362	423	521	695	831	984	1,650	1,907	1,995	2,423	2,622
	0	0	0	0	0	400	369	310	206	133	1,022	327
	115	106	136	127	158	222	362	733	392	302	325	345
Total Liabilities	503	476	568	657	862	1,462	1,724	2,702	2,532	2,592	3,932	3,780
	74	78	83	123	260	306	808	844	878	886	884	923
CWIP	4	1	3	12	202	557	82	42	67	116	121	90
Investments	209	175	247	303	65	57	291	376	489	502	2,158	2,186
	216	222	235	220	335	541	543	1,439	1,098	1,087	769	581
Total Assets	503	476	568	657	862	1,462	1,724	2,702	2,532	2,592	3,932	3,780

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	30	3	80	122	169	-13	340	837	143	154	659	733
	-20	3	-68	-106	-147	-370	-249	-757	-30	-49	-1,480	138
	-3	-3	-12	-13	-12	378	-58	-106	-129	-107	800	-840
Net Cash Flow	6	3	-0	3	10	-6	32	-26	-16	-2	-20	31
Free Cash Flow	18	-3	66	95	-71	-335	280	768	-44	54	594	684
CFO/OP	214%	2,800%	115%	110%	110%	20%	146%	108%	58%	78%	121%	101%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	4	14	5	3	11	19	37	33	25	10	0	1
Inventory Days		685	440	238	180	1,178	475	145	92	794	346	546
Days Payable		218	161	142	207	586	672	266	79	275	127	211
Cash Conversion Cycle	4	481	285	99	-16	611	-160	-88	37	529	219	336
Working Capital Days	-13	13	-11	-5	-16	10	-22	-25	14	184	34	34
ROCE %	6%	-0%	23%	35%	37%	19%	20%	57%	18%	15%	22%	24%

Insights

In beta

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Ferroalloys Production Volume
Tonnes

xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
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x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx

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Ferroalloys Sales Volume
Tonnes

Iron Ore MPAP Capacity
MTPA

Iron Ore Production Volume
Million Tonnes

Iron Ore Sales Volume
Million Tonnes

Manganese Ore MPAP Capacity
MTPA

Manganese Ore Production Volume
Million Tonnes

Manganese Ore Sales Volume
Million Tonnes

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.31%	74.26%	74.22%	74.22%	74.22%	74.22%	74.22%	74.22%	74.22%	74.22%	74.22%	74.22%
	0.31%	0.33%	0.43%	0.70%	0.77%	0.99%	1.06%	1.12%	1.00%	1.01%	1.20%	1.63%
	0.74%	0.64%	1.26%	1.42%	1.45%	1.46%	1.49%	1.43%	0.59%	0.70%	0.67%	0.66%
	24.65%	24.78%	24.07%	23.67%	23.56%	23.34%	23.23%	23.24%	24.18%	24.08%	23.93%	23.47%
No. of Shareholders	25,803	24,757	34,621	57,023	52,803	54,523	55,636	55,408	55,747	62,156	81,705	85,207

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	72.43%	72.43%	72.45%	73.24%	73.22%	73.18%	74.37%	74.22%	74.22%	74.22%
	0.00%	1.25%	1.53%	0.36%	0.00%	0.36%	0.32%	0.70%	1.12%	1.63%
	0.85%	1.53%	1.52%	1.58%	0.81%	0.81%	0.79%	1.42%	1.43%	0.66%
	26.73%	24.79%	24.50%	24.82%	25.97%	25.65%	24.52%	23.67%	23.24%	23.47%
No. of Shareholders	7,915	9,150	9,513	9,958	9,620	12,716	27,458	57,023	55,408	85,207

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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