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Sandur Manganese Overview

The Sandur Manganese & Iron Ores Ltd is engaged in the mining of manganese ore and iron ore, and the manufacture of ferro-alloys. The Company's segments comprises Mining, Ferroalloys & Power, and Steel. Star Metallics and Power Pvt Ltd (SMPPL) is the subsidiary of the Company, which has approximately two ferroalloy furnaces and a 32 megawatts thermal power plant, that's used as a captive unit for its ferroalloy operations. The Company's mines are located at Deogiri, SB Halli and Ramgad placed around Sandur, and its Metal and Ferroalloy plant is...Read More

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Sandur Manganese Key Financials

Market Cap ₹9670 Cr.

Stock P/E 20.4

P/B 3.2

Current Price ₹198.9

Book Value ₹ 62.1

Face Value 10

52W High ₹272.9

Dividend Yield 0.21%

52W Low ₹ 126

Sandur Manganese Share Price

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Volume
Price

Sandur Manganese Quarterly Price

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Sandur Manganese Peer Comparison

Sandur Manganese Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 185 153 552 602 260 952 1321 1135 1232 1209
Other Income 18 15 31 23 25 20 9 15 12 28
Total Income 203 168 583 625 285 972 1330 1150 1245 1237
Total Expenditure 147 136 344 411 223 712 1005 836 960 959
Operating Profit 55 33 239 214 63 260 325 314 285 279
Interest 5 5 4 4 5 41 67 54 57 46
Depreciation 14 15 15 14 14 38 54 51 53 54
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -32
Profit Before Tax 36 13 219 196 43 180 204 209 175 147
Provision for Tax 9 3 57 49 11 42 47 42 36 30
Profit After Tax 27 10 162 147 32 139 157 167 139 116
Adjustments 0 -1 1 -2 -0 -1 -1 -0 -0 -1
Profit After Adjustments 27 9 164 144 32 137 156 167 139 116
Adjusted Earnings Per Share 0.6 0.2 3.4 3 0.7 2.8 3.2 3.4 2.8 2.4

Sandur Manganese Profit & Loss

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 206 219 347 351 269 422 608 702 2126 1252 3135 4897
Other Income 9 23 18 5 6 10 13 19 59 83 81 64
Total Income 215 242 365 356 275 433 621 722 2185 1335 3216 4962
Total Expenditure 188 193 291 309 266 323 434 478 1733 932 2354 3760
Operating Profit 27 49 74 47 8 109 186 243 452 403 862 1203
Interest 1 2 0 2 0 7 5 6 28 20 117 224
Depreciation 19 19 18 10 9 12 12 13 64 58 121 212
Exceptional Income / Expenses 0 0 0 0 17 0 0 0 0 0 0 -32
Profit Before Tax 7 27 56 35 16 90 169 224 360 325 624 735
Provision for Tax 18 4 20 7 9 30 58 77 88 86 150 155
Profit After Tax -11 23 36 28 7 61 111 147 271 239 475 579
Adjustments 3 2 0 -2 0 -1 -1 -1 -0 1 -4 -2
Profit After Adjustments -8 25 37 25 7 60 110 146 271 239 470 578
Adjusted Earnings Per Share -0.2 0.5 0.8 0.5 0.2 1.3 2.4 3.1 5.6 4.9 9.7 11.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 150% 65% 49% 31%
Operating Profit CAGR 114% 53% 51% 41%
PAT CAGR 99% 48% 51% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 25% 54% 58% 37%
ROE Average 20% 17% 20% 13%
ROCE Average 22% 22% 28% 19%

Sandur Manganese Balance Sheet

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 279 304 337 359 364 429 531 671 1934 2158 2613
Minority's Interest 29 27 27 29 29 31 32 33 0 0 15
Borrowings 0 0 0 0 0 0 0 0 161 98 1335
Other Non-Current Liabilities -4 -16 215 228 236 -8 -16 -19 763 858 1002
Total Current Liabilities 141 125 138 126 99 119 119 152 491 293 1557
Total Liabilities 445 440 717 743 728 571 666 837 3349 3408 6521
Fixed Assets 241 229 222 225 224 211 213 211 835 844 3068
Other Non-Current Assets 55 76 298 325 331 106 127 371 992 1120 1646
Total Current Assets 149 135 197 192 172 255 327 255 1522 1444 1796
Total Assets 445 440 717 743 728 571 666 837 3349 3408 6521

Sandur Manganese Cash Flow

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 19 7 11 18 27 21 22 30 41 43 23
Cash Flow from Operating Activities -66 32 16 36 -7 85 128 169 142 153 841
Cash Flow from Investing Activities 60 -28 -9 -24 4 -71 -106 -147 -11 -66 -1561
Cash Flow from Financing Activities -5 -0 -0 -3 -3 -13 -13 -12 -129 -107 704
Net Cash Inflow / Outflow -12 4 8 9 -7 1 9 10 2 -20 -17
Closing Cash & Cash Equivalent 7 11 18 27 21 22 30 40 43 23 14

Sandur Manganese Ratios

# Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.16 0.53 0.78 0.54 0.16 1.28 2.35 3.12 5.57 4.93 9.67
CEPS(Rs) 0.18 0.9 1.15 0.8 0.34 1.54 2.63 3.41 6.9 6.1 12.25
DPS(Rs) 0 0 0.06 0.06 0.06 0.09 0.13 0.13 0.28 0.33 0.42
Book NAV/Share(Rs) 5.93 6.47 7.18 7.65 7.75 9.14 11.31 14.3 39.77 44.4 53.75
Core EBITDA Margin(%) 8.78 11.55 15.87 11.43 0.97 22.79 28.36 31.86 18.46 25.57 24.91
EBIT Margin(%) 3.86 13.15 15.81 10.28 6.05 22.49 28.46 32.82 18.22 27.55 23.64
Pre Tax Margin(%) 3.57 12.08 15.81 9.62 5.94 20.82 27.65 31.91 16.91 25.96 19.91
PAT Margin (%) -5.14 10.37 10.27 7.74 2.55 14.02 18.18 20.99 12.75 19.06 15.14
Cash Profit Margin (%) 4.04 19.06 15.3 10.39 5.85 16.72 20.15 22.79 15.77 23.68 18.99
ROA(%) -2.29 5.22 6.29 3.83 0.95 9.36 18 19.6 12.95 7.06 9.56
ROE(%) -3.79 7.93 11.35 8.02 1.93 15.34 23.19 24.51 20.81 11.66 19.9
ROCE(%) 2.79 10.06 17.47 10.65 4.59 24.61 36.3 38.34 27.58 15.59 21.85
Receivable days 57.69 52.71 30.59 23.58 8.83 5.85 3.19 6.56 14.18 26.04 23.8
Inventory Days 91.37 76.28 51.04 72.09 95.84 62.73 52.37 39.47 30.62 99.13 78.01
Payable days 674.78 311.61 852.7 1240.65 141.45 132.58 105.05 168.72 51.25 394.94 144.62
PER(x) 0 11.72 13 20.18 54.94 10.14 8.86 5.68 10.25 24.52 15.16
Price/Book(x) 1.27 0.96 1.42 1.43 1.12 1.42 1.84 1.24 1.44 2.72 2.73
Dividend Yield(%) 0 0 0.55 0.51 0.65 0.72 0.63 0.74 0.49 0.28 0.28
EV/Net Sales(x) 1.68 1.28 1.32 1.38 1.41 1.37 1.55 1.09 1.16 4.75 2.86
EV/Core EBITDA(x) 12.77 5.76 6.21 10.39 45.14 5.29 5.05 3.14 5.46 14.75 10.4
Net Sales Growth(%) -43.21 6.23 58.36 1.06 -23.35 57.11 44.02 15.47 202.76 -41.1 150.38
EBIT Growth(%) -93.82 264.21 91.12 -33.71 -55.32 488.33 78.67 32.23 68.08 -10.94 114.82
PAT Growth(%) -112.88 315.58 57.53 -23.19 -75.02 771.59 83.12 32.36 83.94 -11.96 98.88
EPS Growth(%) -109.1 422.34 47.69 -30.79 -71 710.46 84.47 32.59 78.52 -11.56 96.35
Debt/Equity(x) 0 0 0 0 0 0 0 0 0.11 0.06 0.72
Current Ratio(x) 1.06 1.08 1.42 1.53 1.75 2.15 2.74 1.68 3.1 4.92 1.15
Quick Ratio(x) 0.68 0.76 1 0.86 1.13 1.4 2.01 1.25 2.5 3.6 0.54
Interest Cover(x) 12.98 12.27 3254.62 15.71 55.16 13.46 35.21 36.07 13.91 17.28 6.34
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0.07 0.02 0.26

Sandur Manganese Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 74.25 74.22 74.22 74.22 74.22 74.22 74.22 74.22 74.22 74.22
FII 0.33 0.43 0.7 0.78 0.99 1.07 1.13 1.01 1 1.2
DII 0.64 1.27 1.43 1.45 1.46 1.47 1.41 0.59 0.69 0.66
Public 24.77 24.07 23.66 23.55 23.32 23.24 23.25 24.18 24.09 23.92
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Sandur Manganese News

Sandur Manganese Pros & Cons

Pros

  • Company has delivered good profit growth of 50% CAGR over last 5 years
  • Debtor days have improved from 394.94 to 144.62days.

Cons

  • Stock is trading at 3.2 times its book value.
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