Sandur Manganese & Iron Ores Ltd.

•

sandurgroup.comBSE: 504918NSE: SANDUMA

Market Cap₹ 9,771 Cr.

Current Price

High / Low₹ 273 / 152

Stock P/E17.0

Book Value₹ 67

Price to Book2.69

Dividend Yield0.25 %

ROCE23.9 %

ROE19.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Mining: 76.2% • Ferroalloy & Power: 18.8% • Coke & energy: 4.9%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has delivered good profit growth of 28.7% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 20.7%
Operating margins have improved to 42.7% from 21.2%
Company has delivered good sales growth of 21.9% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)
Latest quarter profit grew 25.2% YoY, showing strong momentum

CONS

Receivables are growing faster than sales - a possible quality concern
Though reporting repeated profits, the company pays out little dividend (4.5%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningMiningMining & Minerals

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	COALINDIA	431.50	8.52	265921.73	6.14	8849.81	1.32	46254.80	45.09	35.43	26.61
2.	NMDC	85.60	10.09	75257.96	4.09	1976.23	0.43	6795.25	0.84	27.98	35.89
3.	KIOCL	373.65	584.07	22708.62	0.00	-15.48	59.04	158.01	73.79	-10.27	-16.83
4.	GMDCLTD	574.65	19.11	18273.87	1.65	163.43	-0.21	906.64	23.76	18.28	21.12
5.	SANDUMA	201.00	13.63	9770.71	0.25	2278.50	1263.64	13747.80	1110.85	23.78	24.91
6.	ASHAPURMIN	550.90	12.93	5262.53	0.36	108.31	-4.91	1616.12	19.22	20.64	11.63
7.	MOIL	251.95	69.22	5126.81	2.12	513.84	—	2677.04	—	12.64	28.40
8.	DECNGOLD	219.55	1272.29	4412.31	0.00	-87.26	-210.25	6.03	1462.18	-20.83	-826.53
9.	ORISSAMINE	4145.25	0.00	2487.15	0.00	-7.61	75.80	28.99	330.83	-44.94	-32.24
10.	20MICRONS	217.95	11.35	769.07	0.57	17.74	5.22	244.72	-0.99	17.83	13.13
11.	ASOCSTONE	24.66	8.85	222.12	1.62	7.97	2887.41	44.18	-25.13	13.63	27.86
12.	OSWALMIN	28.90	1.07	22.40	0.00	—	—	—	—	5.85	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	363	185	153	552	602	260	482	595	423	436	483	668	5,403
	305	147	136	344	411	223	289	359	216	253	305	379	3,390
Operating Profit	58	38	17	208	191	38	193	236	207	184	178	290	2,013
OPM %	15.97%	20.31%	11.18%	37.68%	31.74%	14.44%	40.01%	39.60%	48.94%	42.06%	36.91%	43.34%	37.26%
	18	18	15	31	23	25	17	8	12	10	5	18	133
Interest	6	5	5	4	4	5	25	39	31	30	27	35	79
Depreciation	14	14	15	15	14	14	15	16	16	16	17	15	145
Profit before Tax	56	36	13	219	196	43	169	189	173	148	139	258	2,146
Tax %	29.43%	25.88%	25.45%	26.03%	25.17%	25.56%	25.16%	26.18%	25.43%	25.31%	22.46%	23.90%	24.89%
Net Profit	40	26	10	162	146	32	127	139	129	110	108	196	1,612
	2.46	1.63	0.59	10.01	9.03	0.66	2.61	2.87	7.95	2.27	2.22	4.04	3.32

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	422	608	702	592	747	2,249	2,126	1,252	1,939	2,011	2,128
	331	442	478	396	475	1,275	1,733	932	1,284	1,152	1,275
Operating Profit	91	166	224	195	272	974	393	320	655	858	853
OPM %	21.54%	27.27%	31.86%	33.02%	36.38%	43.31%	18.47%	25.59%	33.77%	42.68%	40.07%
	9	11	19	29	46	36	59	82	75	46	47
Interest	7	5	6	31	41	38	28	20	73	124	101
Depreciation	7	7	13	19	27	56	64	58	60	64	62
Profit before Tax	85	165	224	175	250	915	359	324	597	717	759
Tax %	34.62%	35.25%	34.23%	15.68%	38.31%	26.24%	24.61%	26.58%	25.51%	24.28%	24.19%
Net Profit	56	107	147	147	154	675	271	238	445	543	576
EPS	63.67	121.74	168.41	163.73	170.99	255.46	16.88	14.69	27.43	11.17	—
Dividend Payout %	7.85%	5.75%	4.16%	4.16%	5.85%	0.67%	4.99%	6.81%	4.56%	4.48%	—

COMPOUNDED SALES GROWTH

10 Years:: 25%
5 Years:: 22%
3 Years:: -2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 29%
3 Years:: 26%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 31%
1 Year:: 29%

RETURN ON EQUITY

10 Years:: 21%
5 Years:: 23%
3 Years:: 16%
Last Year:: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	27	162	162	486
	423	521	695	831	984	1,650	1,907	1,995	2,423	2,622
	0	0	0	406	404	313	208	106	950	247
Trade Payables	32	52	75	80	222	570	252	134	119	105
	79	55	59	101	1,186	889	956	1,009	1,151	675
Total Liabilities	543	636	837	1,426	2,805	3,431	3,349	3,406	4,805	4,136
	68	73	211	257	759	796	835	844	841	883
Capital Work in Progress	3	12	202	557	82	42	67	116	121	90
	247	303	65	57	291	376	489	502	2,158	2,186
	89	87	65	162	157	311	292	388	323	273
	0	0	0	0	0	0	0	34	1	8
Cash & Bank	21	23	69	128	131	739	493	59	33	69
	117	139	226	265	1,385	1,166	1,173	1,462	1,327	627
Total Assets	543	636	837	1,426	2,805	3,431	3,349	3,406	4,805	4,136

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	105	182	247	38	403	1,055	229	154	659	733
Cash from Investing	-68	-106	-147	-370	-249	-757	-30	-49	-1,480	138
Cash from Financing	-12	-13	-12	378	-58	-106	-129	-107	800	-840
	-0	3	10	-6	32	-26	-16	-2	-20	31

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.22	74.22	74.22	74.22	74.22	74.22	74.22	74.22	74.22
	0.77	0.99	1.06	1.12	1.00	1.01	1.20	1.63	1.73
	1.45	1.46	1.47	1.41	0.59	0.69	0.67	0.66	0.58
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	23.56	23.32	23.24	23.25	24.18	24.09	23.92	23.48	23.46

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Action(s) taken or orders passed

2026-09-09 - Sandur Manganese & Iron Ores Limited has informed the Exchange about receipt of penalty order by Royal Sandur Metals Private Limited (formerly Arjas Steel Private Limited), Material Subsidiary of the Company

2026-08-28

General Updates

2026-08-28 - Sandur Manganese & Iron Ores Limited has informed the Exchange about change in name of Material Subsidiaries of the Company

2026-08-21

Shareholders meeting

2026-08-21 - Sandur Manganese & Iron Ores Limited has submitted the Exchange a copy Scrutinizer's Report and voting results of Annual General Meeting held on August 19, 2026.

2026-08-21

Acquisition

2026-08-21 - Sandur Manganese & Iron Ores Limited has informed the Exchange about icorporation of Royal Sandur Hospitality Private Limited, Wholly Owned Subsidiary of the Company

2026-08-19

Shareholders meeting

2026-08-19 - Sandur Manganese & Iron Ores Limited has informed the Exchange regarding Proceedings of 72nd Annual General Meeting held on August 19, 2026

2026-08-14

Acquisition

2026-08-14 - Sandur Manganese & Iron Ores Limited has informed the Exchange about incorporation of Royal Sandur Academy Private Limited, Wholly Owned Subsidiary of the Company

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Sandur Manganese & Iron Ores Limited has informed the Exchange about Copy of Newspaper Publication regarding notice of special window for transfer and dematerializationof physical securities

2026-08-07

Copy of Newspaper Publication

2026-08-07 - Sandur Manganese & Iron Ores Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-06

Investor Presentation

2026-08-06 - Sandur Manganese & Iron Ores Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for SANDUMA

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Sandur Manganese & Iron Ores Ltd.

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Name

COALINDIA

431.50

8.52

265921.73

6.14

8849.81

1.32

46254.80

45.09

35.43

26.61

NMDC

85.60

10.09

75257.96

4.09

1976.23

0.43

6795.25

0.84

27.98

35.89

KIOCL

373.65

584.07

22708.62

0.00

-15.48

59.04

158.01

73.79

-10.27

-16.83

GMDCLTD

574.65

19.11

18273.87

1.65

163.43

-0.21

906.64

23.76

18.28

21.12

SANDUMA

201.00

13.63

9770.71

0.25

2278.50

1263.64

13747.80

1110.85

23.78

24.91

ASHAPURMIN

550.90

12.93

5262.53

0.36

108.31

-4.91

1616.12

19.22

20.64

11.63

MOIL

251.95

69.22

5126.81

2.12

513.84

—

2677.04

—

12.64

28.40

DECNGOLD

219.55

1272.29

4412.31

0.00

-87.26

-210.25

6.03

1462.18

-20.83

-826.53

ORISSAMINE

4145.25

0.00

2487.15

0.00

-7.61

75.80

28.99

330.83

-44.94

-32.24

20MICRONS

217.95

11.35

769.07

0.57

17.74

5.22

244.72

-0.99

17.83

13.13

ASOCSTONE

24.66

8.85

222.12

1.62

7.97

2887.41

44.18

-25.13

13.63

27.86

OSWALMIN

28.90

1.07

22.40

0.00

—

5.85

—

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

363

185

153

552

602

260

482

595

423

436

483

668

5,403

305

147

136

344

411

223

289

359

216

253

305

379

3,390

Operating Profit

208

191

193

236

207

184

178

290

2,013

OPM %

15.97%

20.31%

11.18%

37.68%

31.74%

14.44%

40.01%

39.60%

48.94%

42.06%

36.91%

43.34%

37.26%

133

Interest

Depreciation

145

Profit before Tax

219

196

169

189

173

148

139

258

2,146

Tax %

29.43%

25.88%

25.45%

26.03%

25.17%

25.56%

25.16%

26.18%

25.43%

25.31%

22.46%

23.90%

24.89%

Net Profit

162

146

127

139

129

110

108

196

1,612

2.46

1.63

0.59

10.01

9.03

0.66

2.61

2.87

7.95

2.27

2.22

4.04

3.32

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

422

608

702

592

747

2,249

2,126

1,252

1,939

2,011

2,128

331

442

478

396

475

1,275

1,733

932

1,284

1,152

1,275

Operating Profit

166

224

195

272

974

393

320

655

858

853

OPM %

21.54%

27.27%

31.86%

33.02%

36.38%

43.31%

18.47%

25.59%

33.77%

42.68%

40.07%

Interest

124

101

Depreciation

Profit before Tax

165

224

175

250

915

359

324

597

717

759

Tax %

34.62%

35.25%

34.23%

15.68%

38.31%

26.24%

24.61%

26.58%

25.51%

24.28%

24.19%

Net Profit

107

147

154

675

271

238

445

543

576

EPS

63.67

121.74

168.41

163.73

170.99

255.46

16.88

14.69

27.43

11.17

—

Dividend Payout %

7.85%

5.75%

4.16%

5.85%

0.67%

4.99%

6.81%

4.56%

4.48%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

162

486

423

521

695

831

984

1,650

1,907

1,995

2,423

2,622

406

404

313

208

106

950

247

Trade Payables

222

570

252

134

119

105

101

1,186

889

956

1,009

1,151

675

Total Liabilities

543

636

837

1,426

2,805

3,431

3,349

3,406

4,805

4,136

211

257

759

796

835

844

841

883

Capital Work in Progress

202

557

116

121

247

303

291

376

489

502

2,158

2,186

162

157

311

292

388

323

273

Cash & Bank

128

131

739

493

117

139

226

265

1,385

1,166

1,173

1,462

1,327

627

Total Assets

543

636

837

1,426

2,805

3,431

3,349

3,406

4,805

4,136

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

105

182

247

403

1,055

229

154

659

733

Cash from Investing

-68

-106

-147

-370

-249

-757

-30

-49

-1,480

138

Cash from Financing

-12

-13

-12

378

-58

-106

-129

-107

800

-840

-0

-6

-26

-16

-2

-20

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.22

0.77

0.99

1.06

1.12

1.00

1.01

1.20

1.63

1.73

1.45

1.46

1.47

1.41

0.59

0.69

0.67

0.66

0.58

Government

0.00

23.56

23.32

23.24

23.25

24.18

24.09

23.92

23.48

23.46

Sandur Manganese & Iron Ores Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Sandur Manganese & Iron Ores Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI