SANDUMA

Sandur Manganese & Iron Ores Limited

Merchant miner and processor of manganese and iron ores and ferroalloys

Commodities›Metals & Mining›Ferrous Metals›Iron & Steel

sandurgroup.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹174.85
Market cap
8,503 Cr
Stock P/E
11.9
P/B
2.61
Dividend yield
0.2%
ROE (FY26)
20.1%
ROCE (FY26)
24.4%
Operating margin (FY26)
19.6%
Debt / equity (FY26)
0.31
OCF / EBITDA (FY26)
94.5%
OCF / EBITDA (3Y)
92.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Sandur Manganese & Iron Ores (SMIORE) mines manganese ore and iron ore, converts ore into ferroalloys, runs a coke oven and power business, and since its acquisition of Arjas Steel also makes steel.

Company snapshot

9thBy market cap

Ranked among 13 companies in Iron & Steel.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 82.9% of revenue

SegmentRevenue shareRevenuePBTAssets
Coke and energy
16.6%
80 Cr-18 Cr621 Cr
Ferroalloys
0.4%
2 Cr-2 Cr200 Cr
Mining
82.9%
399 Cr219 Cr261 Cr
Unallocable
0.2%
0.96 Cr0 Cr2,714 Cr

What we see

Positives
  • ✓92% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales185 Cr153 Cr552 Cr602 Cr260 Cr952 Cr1,321 Cr1,135 Cr1,232 Cr1,209 Cr1,511 Cr1,375 Cr
Operating expenses (approx.)147 Cr136 Cr344 Cr411 Cr223 Cr712 Cr1,005 Cr836 Cr960 Cr959 Cr1,125 Cr1,031 Cr
EBITDA37 Cr17 Cr208 Cr191 Cr38 Cr240 Cr316 Cr299 Cr273 Cr251 Cr387 Cr343 Cr
OPM %20.3%11.2%37.6%31.7%14.4%25.2%23.9%26.4%22.1%20.7%25.6%25.0%
Other income18 Cr15 Cr31 Cr23 Cr25 Cr20 Cr9 Cr15 Cr12 Cr28 Cr20 Cr15 Cr
Interest5 Cr5 Cr4 Cr4 Cr5 Cr41 Cr67 Cr54 Cr57 Cr46 Cr55 Cr26 Cr
Depreciation14 Cr15 Cr15 Cr14 Cr14 Cr38 Cr54 Cr51 Cr53 Cr54 Cr54 Cr51 Cr
Profit before tax36 Cr12 Cr221 Cr194 Cr43 Cr179 Cr204 Cr209 Cr175 Cr146 Cr297 Cr280 Cr
Tax %25.6%27.0%25.9%25.4%25.7%23.3%23.2%20.2%20.5%20.7%20.4%18.6%
Net profit27 Cr9 Cr164 Cr144 Cr32 Cr137 Cr157 Cr167 Cr139 Cr116 Cr236 Cr228 Cr
EPS (₹)₹10.02₹0.56₹10.10₹8.92₹1.98₹8.48₹9.64₹10.28₹2.85₹2.38₹4.85₹4.67

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales422 Cr702 Cr2,126 Cr1,252 Cr3,135 Cr5,088 CrSign in free for the trailing twelve months
Operating expenses (approx.)325 Cr478 Cr1,733 Cr932 Cr2,350 Cr3,879 CrSign in free for the trailing twelve months
EBITDA97 Cr224 Cr392 Cr320 Cr785 Cr1,209 CrSign in free for the trailing twelve months
OPM %22.9%31.9%18.5%25.6%25.0%23.8%Sign in free for the trailing twelve months
Other income7 Cr19 Cr59 Cr83 Cr77 Cr75 CrSign in free for the trailing twelve months
Interest7 Cr6 Cr28 Cr20 Cr117 Cr212 CrSign in free for the trailing twelve months
Depreciation12 Cr13 Cr64 Cr58 Cr121 Cr212 CrSign in free for the trailing twelve months
Profit before tax85 Cr224 Cr359 Cr326 Cr620 Cr827 CrSign in free for the trailing twelve months
Tax %34.7%34.2%24.6%26.5%24.1%20.4%Sign in free for the trailing twelve months
Net profit55 Cr147 Cr271 Cr239 Cr471 Cr658 CrSign in free for the trailing twelve months
EPS (₹)₹62.22₹167.42₹101.23₹14.78₹29.02₹13.51Sign in free for the trailing twelve months
Dividend payout %——5.0%5.7%3.4%3.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital9 Cr9 Cr27 Cr162 Cr162 Cr486 Cr
Reserves406 Cr662 Cr1,907 Cr1,996 Cr2,451 Cr2,768 Cr
Borrowings——204 Cr131 Cr1,882 Cr995 Cr
Other liabilities138 Cr158 Cr394 Cr304 Cr1,139 Cr1,262 Cr
Total liabilities584 Cr862 Cr2,532 Cr2,593 Cr5,648 Cr5,527 Cr
Fixed assets (net)222 Cr208 Cr832 Cr841 Cr2,673 Cr2,878 Cr
CWIP4 Cr202 Cr67 Cr116 Cr373 Cr142 Cr
Investments108 Cr114 Cr512 Cr527 Cr270 Cr321 Cr
Loans & advances—0 Cr2 Cr1 Cr1 Cr1 Cr
Inventories89 Cr65 Cr292 Cr388 Cr952 Cr872 Cr
Trade receivables6 Cr21 Cr144 Cr34 Cr374 Cr438 Cr
Cash & bank29 Cr40 Cr43 Cr23 Cr14 Cr53 Cr
Other assets127 Cr212 Cr640 Cr662 Cr991 Cr821 Cr
Total assets584 Cr862 Cr2,532 Cr2,593 Cr5,648 Cr5,527 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity85 Cr169 Cr142 Cr153 Cr841 Cr1,143 Cr
Cash from investing-71 Cr-147 Cr7 Cr-66 Cr-1,553 Cr20 Cr
Cash from financing-13 Cr-12 Cr-147 Cr-107 Cr704 Cr-1,123 Cr
Net cash flow0.84 Cr10 Cr2 Cr-20 Cr-9 Cr39 Cr
Free cash flow (OCF − Capex)70 Cr-84 Cr-45 Cr50 Cr753 Cr988 Cr

Ratios

MetricMar 2017Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.6%32.7%18.1%15.1%16.3%24.4%
ROE %12.2%20.8%14.0%11.1%17.9%20.1%
Debtor days51125104331
Inventory days34018990501307155
Days payable11321878173241152
Cash conversion cycle233-183733711035
OCF / EBITDA %87.9%75.5%36.3%47.8%107.1%94.5%
OCF / EBITDA % (3 years)————75.9%92.3%
Debt / equity——0.110.060.720.31
Current ratio2.051.683.524.921.151.15
Net debt / EBITDA-0.30-0.180.410.342.380.78