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Prices as of 8 Oct 2026 close · Not investment advice

Sandur Manganese & Iron Ores Limited

NSE: SANDUMAIron & Steel

Share price

₹179.15

-1.13% close of 8 Oct 2026

Market cap ₹8,707 CrP/E 11.7

Business score

How strong the business is, in one number. The parts behind it are in Pro.

71

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹8,707 Cr

P/E ratio

11.7

P/B ratio

2.7

ROCE

24.2%

ROE

23.0%

Dividend yield

0.3%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹264.7152-week low ₹171.59

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Dec 2024 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Dec 2024 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 11.7× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 18.1×, across 5 companies. It is against its own five-year median of 17.2×, the 0th percentile of its own range.

Whether growth justifies the valuation

Priced at 0.3 times its growth rate, on earnings growth of 37%.

Profit growthPrice per ₹1 profitPer 1% growth
Sandur Manganese & Iron Ores Limited — this one37%/yr11.7×₹0.32
JSW Steel35%/yr23.9×₹0.68
Tata Steel10%/yr18.1×₹1.8
JINDAL STEEL LIMITED1%/yr33.4×₹33.4
Steel Authority of India26%/yr14.2×₹0.55
Jindal Stainless Limited15%/yr17.7×₹1.2

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Iron & Steel), it ranks 1 of 13 on returns, 1 of 11 on growth, 2 of 13 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A wide advantage: it earns 24.2% on capital, ahead of 92% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹3152 crore of cash from the business, spent ₹610 crore on plant and equipment, and returned ₹761 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 133 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being paid 16 days before it paid its own suppliers to paid 2 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Profit rose 36% to ₹228 crore on 21% higher revenue

Announced 6 Aug 2026 · Consolidated · Unaudited

Revenue

₹1,375 Cr

Revenue vs last year

+21.1%

Revenue vs last quarter

-9.0%

Net profit

₹228 Cr

Profit vs last year

+36.4%

Profit vs last quarter

-3.5%

Net margin

16.6%

EPS

₹4.67

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹8,707 Cr
Prev close
₹179.15
52w High
₹273
52w Low
₹171
Enterprise value
₹9,443 Cr
Beta
1.6
Price CAGR 1y
-3.0%
Price CAGR 3y
28.0%
Price CAGR 5y
39.0%
Price CAGR 10y
34.0%

Ratios

Return on assets
11.9%
PEG ratio
0.3
P/E ratio
11.7
P/B ratio
2.7
EV / EBITDA
7.5
Industry P/E
16.5
ROCE
24.2%
ROCE 5y average
20.0%
ROE
23.0%
Debt / Equity
0.3
Interest coverage
4.9
Dividend yield
0.3%
ROE 3y average
18.0%
ROE last year
23.0%

Annual P&L

Annual revenue
₹5,088 Cr
Annual profit
₹658 Cr
Operating margin
24.0%
Net profit margin
12.9%
EBITDA margin
23.7%
Sales growth 3y
33.8%
Sales growth 5y
48.6%
Profit growth 3y
37.0%
Profit growth 5y
—
EPS
₹13.5
Sales growth TTM
45.0%
Profit growth TTM
51.0%
Dividend payout
4.0%

Quarter P&L

Sales latest quarter
₹1,375 Cr
Profit latest quarter
₹228 Cr
YoY quarterly sales growth
21.1%
YoY quarterly profit growth
36.5%
OPM latest quarter
25.0%

Balance Sheet

Book Value
₹67.0
Face Value
₹10.0
Total debt
₹999 Cr
Total cash
₹88 Cr
Borrowings
₹999 Cr
Reserves / Equity
5.7

Cash Flow

Operating cash flow
₹1,143 Cr
Free cash flow
₹988 Cr
FCF yield
8.9%
Net cash flow
₹39 Cr

Shareholding

Promoter holding
74.2%
FII holding
1.7%
DII holding
0.6%
Public holding
23.5%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
JSW Steel1,180.5524.02,88,6980.584,696.0113.047,364.09.811.0
Tata Steel172.3018.12,15,0912.302,385.216.860,794.314.312.5
Jindal Steel1,011.0533.41,03,1360.19843.8-43.515,482.125.99.7
S A I L169.0014.569,8061.351,644.1134.326,245.71.37.9
Jindal Stain.710.6517.858,5870.55768.77.711,278.510.519.3
Sarda Energy494.7015.517,4320.40478.15.51,608.0-1.516.9
NMDC Steel39.67138.911,6260.0050.597.63,661.88.83.1
Sandur Manganese175.3011.48,5210.28227.936.31,374.821.124.2
Median142.5717.811,3810.24174.432.72,672.212.79.7

Competes with: Bharat Coking Coal Limited, Coal India, JINDAL STEEL LIMITED, JSW Steel, Jindal Stainless Limited, NMDC Steel Limited, Sarda Energy & Minerals Limited, Steel Authority of India, Tata Steel, Vedanta Iron and Steel Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3631851535526022609521,3211,1351,2321,2091,5111,375
Expenses3051471363444112237121,0058369609591,1251,031
Material Cost515512480488565570
Change in Inventories18-76762562-4.95
Purchases of Stock-in-Trade000000
Employee Cost697670759182
Other Expenses403324334370407385
Operating Profit58371720819138240316299273251387343
OPM %16201138321425242622212625
Other Income1918153123252091512-42015
Exceptional items (within Other Income)000-3200
Interest65544541675457465526
Depreciation14141515141438545153545451
Profit before tax57361321919643180204209175147297281
Tax %29262526252623232021212019
Net Profit4027916414432137156167139116236228
EPS in Rs0.820.560.193.372.970.662.833.213.432.852.384.854.67
Diluted EPS in Rs9.64102.852.384.854.67

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2193473512694346087022,2492,1261,2523,1355,0885,328
Expenses1932913082663354344771,2751,7339322,3533,8804,074
Material Cost1,1292,045
Change in Inventories-1688
Purchases of Stock-in-Trade00
Employee Cost210312
Other Expenses1,0281,434
Operating Profit2657423991742259743923207821,2081,253
OPM %1216121232932431826252424
Other Income2317423101318355983804442
Exceptional items (within Other Income)0-32
Interest2020756382820117212185
Depreciation1918109121213566458121212212
Profit before tax2756351690169224915360325624827899
Tax %143520573334342625272420
Net Profit233625761111147675271239471658719
EPS in Rs0.530.780.540.161.272.333.09145.574.939.671415
Diluted EPS in Rs2914
Dividend Payout %07103646415744

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
31%
5 years
49%
3 years
34%
TTM
45%

Compounded profit growth

10 years
80%
5 years
—
3 years
37%
TTM
51%

Stock price CAGR

10 years
34%
5 years
39%
3 years
28%
1 year
-3%

Return on equity

10 years
—
5 years
—
3 years
18%
Last year
23%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital999999927162162486
Reserves2953293513554205226621,9071,9962,4512,768
Borrowings00000002061331,890999
Other Liabilities1641771741451671561913923021,1461,270
Minority Interest1516
Total Liabilities4675145335085966878622,5322,5935,6485,523
Fixed Assets2292222252242252622608788863,1113,300
CWIP2854341220267116373142
Investments4045584811917565469484227281
Other Assets1702422452342482383351,1181,1061,9371,800
Total Assets4675145335085966878622,5322,5935,6485,527

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity321636-7851281698731421538411,143
Cash from Investing Activity-28-9-244-71-106-147-793-11-66-1,55420
Cash from Financing Activity-0-0-3-3-13-13-12-106-129-107704-1,123
Net Cash Flow489-71910-262-20-939
Free Cash Flow261020-1470101-71795-4450753988

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3143610531125104431
Inventory Days57425644023818092794312149
Days Payable34610714612820779275245146
Cash Conversion Cycle259436159299113-163752911135
Working Capital Days-70-8-22-1-10-3-16141897-2
ROCE %91610-1233436152124

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters747474747474747474747474
FIIs0.330.430.700.770.991.061.1211.011.201.631.73
DIIs0.641.261.421.451.461.491.430.590.700.670.660.58
Public252424242323232424242323
No. of Shareholders24,75734,62157,02352,80354,52355,63655,40855,74762,15681,70585,20787,803

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -11.9% (₹203.41 → ₹179.15)Brick size ₹5.63 (fixed)Bricks 73
₹200₹225₹250₹179Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹179.15 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

736inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

74,27,484inr

2026-03-31

News

News and filings about Sandur Manganese & Iron Ores Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Depends on the price of

  • Coking Coal
  • Iron Ore
  • coal

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Metals & Mining
Industry
Iron & Steel
Classification
Metals & Mining › Iron & Steel
ISIN
INE149K01016

Business segments

  • Steel · 59%
  • Mining · 31%
  • Ferroalloys · 7%
  • Coke and energy · 3%
  • Unallocable · 0%

Plants

  • Deogiri Manganese & Iron Ore Mines
  • Metal & Ferroalloy Plant, Vyasankere
  • Vertical Non-Recovery Coke Oven Plant with Waste Heat Recovery Power Plant · Hosapete, Karnataka

News impact

Big market events that reach Sandur Manganese & Iron Ores Limited, and how the effect spreads.

1 Oct, 22:37 IST · Market event · medium impact

Tata Steel receives tribunal approval for subsidiary merger

Tata Steel won tribunal approval to merge its subsidiaries into itself, trimming costs and simplifying the group for its shareholders, with no effect on rival steelmakers.

Metals & Mining

Who it hits first

  • Tata Steel, one of India's biggest steelmakers, won tribunal approval to merge its subsidiaries into itself.
  • The cleanup cuts duplicate costs and paperwork and pools cash across the group, but adds no steel output or customers.
  • Rival steelmakers, steel buyers and raw-material suppliers feel no direct change from this internal reshuffle.

Who may gain

  • Tata Steel (steelmaker): lower overheads and simpler accounts once the merger completes.
  • Tata Steel shareholders: a leaner group structure that can lift earnings per share over time.

Along the supply chain

Downstream

Downstream, car, truck and construction buyers of Tata Steel pay the same prices, as steel supply is unchanged.

Upstream

Upstream, miners and equipment suppliers to Tata Steel see no order change, since the merger adds no furnace or mine.

Where demand moves

Business

No new steel demand is created: the same mills, customers and volumes, just owned more simply, so business demand flow is flat.

Capital

Investors may pay a small premium for a simpler Tata Steel with lower costs, but no fresh money flows to rivals or suppliers.

How it spreads across sectors

Automobile and Auto Components

No link: vehicle makers buying Tata steel see no price or supply change.

Capital Goods

No link: equipment suppliers to steel plants gain no new orders from paperwork.

Metals & Mining

Neutral: an internal Tata cleanup moves no steel price, volume or input cost for peers.

When it plays out

Immediate

In the first week, expect a mild positive drift in Tata Steel shares on the cleared overhang, with peers unmoved.

Medium term

Over one to six months, actual cost savings and cleaner accounts decide whether the market rewards the simpler structure.

Short term

Over the next few weeks, watch for the merger record date and share-swap details that set the final terms.

Who it hits first

  • Steel Authority of India, the government-owned steelmaker, test-flew a small load of coking coal (the special coal that fuels blast furnaces) from Mongolia to try a new source beyond Australia.
  • The test is a first trial only, so it lowers worry about supply shocks but does not cut costs or raise steel output yet.
  • Rival steelmakers such as Tata Steel and JSW Steel, both large steelmakers, get no coal from this flight, only proof that a Mongolia route can work.

Who may gain

  • Steel Authority of India, the steelmaker running the trial, gains a little supply safety and positive attention.
  • Other steelmakers that burn imported coking coal, like Tata Steel, JSW Steel and Jindal Steel, get a faint hope that Mongolia could one day serve them too.
  • Mongolian coal miners gain a possible future buyer in India, though one airlift means no real sales yet.

Along the supply chain

Downstream

Downstream, buyers of Steel Authority of India steel such as Mazagon Dock Shipbuilders, the shipbuilder, Larsen and Toubro, the engineering and construction group, and Garden Reach Shipbuilders, the shipbuilder, see no change in steel price or delivery from one coal test.

Upstream

Upstream, coking coal today comes mostly from Australia for importers like Steel Authority of India, and Mongolian mines send only this test load, so Australian sellers lose no volume and mine-equipment or coal firms see no new orders.

Where demand moves

Business

No new demand for steel appears — steel buyers order the same tons; the change sits on the input side, where Steel Authority of India tests a backup coal source to keep its furnaces running if Australian supply tightens.

Capital

Investors may pay a touch more for Steel Authority of India and steel peers as supply-risk worry eases, but with only a test flight and no cost saving, no broad buying wave follows.

How it spreads across sectors

Capital Goods

Neutral for heavy users and makers of plant gear, since steel output and input costs do not move on a coal test.

Metals & Mining

Small positive mood as steelmakers show they can look beyond Australia for coking coal, but with one airlift the effect on earnings stays near zero.

When it plays out

Immediate

In 1-7 days, Steel Authority of India shares may firm a touch on the trial news while traders wait for details on cost and coal quality.

Medium term

In 1-6 months, only a shift from costly air freight to rail and sea shipments with steady volumes would turn the test into real supply safety or savings.

Short term

In 1-4 weeks, follow-up notes on whether the Mongolian coal suited the furnaces decide if the route gets a second, larger trial.

Who it hits first

  • Coal India's coal-mining unit SECL (South Eastern Coalfields) has picked banks to sell about $800 million of its shares to the public in Mumbai.
  • Coal India, the state-owned parent coal miner, keeps control of SECL but gets a public price tag for the unit and likely cash from selling part of it.
  • Nothing changes in coal mining, coal prices, or supply contracts - this step only moves toward shared ownership, not more coal.

Who may gain

  • Coal India shareholders, who gain a visible market value for the SECL unit and possible cash from the sale.
  • SECL itself, the South Eastern Coalfields miner, which gets its own listed shares and easier future access to investor money.
  • NLC India, a fellow state coal-and-power firm, which may catch a small copycat rise as investors rethink state miner values.

Along the supply chain

Downstream

No direct downstream link - coal buyers such as NTPC (power producer), Tata Steel (steelmaker) and UltraTech Cement (cement maker) receive the same coal at the same prices.

Upstream

No direct upstream link - suppliers of explosives, mining trucks, power equipment and IT to Coal India, such as Solar Industries (explosives maker), BEML (mining-equipment maker) and Tech Mahindra (IT firm), get no new orders from a bank mandate.

Where demand moves

Business

No new business demand - steel, power and cement makers still buy the same coal on the same terms; the IPO only changes who owns a slice of SECL.

Capital

Investor money leans toward Coal India shares on hopes the listing reveals hidden value, and later toward the new SECL shares when they list and soak up funds.

How it spreads across sectors

Construction Materials

Neutral - cement makers' coal costs and sales are untouched by the share listing.

Metals & Mining

Light positive mood for state miners as SECL's listing sets a price marker for coal assets, but no change in output or earnings.

Power

Neutral - power plants burn the same Coal India coal; only a faint copycat move for coal-linked names like NLC India.

When it plays out

Immediate

In 1-7 days Coal India shares respond to value-unlocking talk while rivals and coal buyers barely move.

Medium term

In 1-6 months the SECL listing sets a market value for the unit and may hand Coal India sale cash; peers get judged against that marker.

Short term

In 1-4 weeks bank mandates, draft IPO papers and price chatter keep Coal India in focus, with no change in the coal business.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

12 Aug 2026unspecified₹0.5
22 Sep 2025bonus₹0
10 Sep 2025unspecified₹1.25
11 Sep 2024unspecified₹1
2 Feb 2024bonus₹0
13 Sep 2023unspecified₹5

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.