Sandur Manganese & Iron Ores Ltd
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]
- Market Cap ₹ 11,383 Cr.
- Current Price ₹ 234
- High / Low ₹ 273 / 141
- Stock P/E 20.4
- Book Value ₹ 64.0
- Dividend Yield 0.18 %
- ROCE 24.4 %
- ROE 19.6 %
- Face Value ₹ 10.0
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
Energy Oil, Gas & Consumable Fuels Consumable Fuels Coal
Part of BSE Energy Nifty Microcap 250 Nifty Total Market BSE 1000
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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: | 36% |
| 5 Years: | 50% |
| 3 Years: | 53% |
| 1 Year: | 39% |
| 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 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Iron Ore Production Million Tonnes |
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| Manganese Ore Production Million Tonnes |
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| Ferroalloys Production Tonnes |
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| Iron Ore Mining Capacity MTPA |
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| Manganese Ore Mining Capacity MTPA |
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| Established Iron Ore Reserves Million Tonnes |
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| Established Manganese Ore Reserves Million Tonnes |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 8 May
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Announcement under Regulation 30 (LODR)-Investor Presentation
7 May - Investor Presentation for the quarter and year ended 31 March 2026
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Compliances-Reg.24(A)-Annual Secretarial Compliance
7 May - FY2026 secretarial compliance report notes one-day delay; BSE and NSE fined INR 10,000 each.
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Appointment Of Internal Auditor
7 May - Ernst & Young LLP appointed internal auditor for FY2026-27, effective 7 May 2026.
- Corporate Action-Board approves Dividend 7 May
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jul 2021Transcript PPT
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Jun 2021TranscriptAI SummaryPPT
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Jul 2019TranscriptPPT
Mining Segment (~64% of 9MFY24 revenues) [1]
This is the legacy business of the company wherein it is involved in the mining of iron and manganese ores. Company produces iron ore with Fe content of 56-58%, with lump to fine production ratio of 1:2.[2]Company has large mines with two leases up to 2033, ML-2678 and ML-2679, with an area of 1860.10 hectares (ha) and 139.20 ha, respectively [3]with reserves of Manganese Ore: 17MT & Iron Ore: 110 MT. Company currently has a capacity of Manganese Ore: 0.46 MTPA & Iron Ore: 3.81 MTPA[4]