Sandur Manganese & Iron Ores Ltd (SANDUMA) AI Stock Analysis

Sandur Manganese & Iron Ores Ltd

(NSE:SANDUMA)

Select Model

Rating:72Outperform

Price Target:INR 180.00▲(11.11% Upside)

Action:reiterated

Date:08/19/26

The overall score is driven primarily by strong but cyclical financial performance, with robust profitability, cash generation, and a strengthening balance sheet, partially offset by weak short-term technical momentum and only moderately attractive valuation levels.

Positive Factors

Revenue RecoveryFY2026 revenue growth of about 9.6% after weaker prior years signals renewed operating momentum in the core minerals business. If maintained, stronger volumes, grades or realized pricing can rebuild earnings capacity, although historical variability means this is a recovery rather than proven steady growth.

Negative Factors

Earnings CyclicalityVolatile revenue and profitability indicate meaningful sensitivity to the operating and pricing cycle in minerals. Margin compression from FY2025 shows that stronger sales do not automatically produce proportionate earnings growth, making future results less predictable across the next several quarters.

Sandur Manganese & Iron Ores Ltd (SANDUMA) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 97.66B
Dividend Yield: 0.31%
Average Volume (3M): 46.73K
Price to Earnings (P/E): 11.0
Beta (1Y): 1.84
Revenue Growth: 45.22%
EPS Growth: 45.66%
Country: India
Employees: 2,716
Sector: General
Sector Strength: 55
Industry: Steel

Sandur Manganese & Iron Ores Ltd Business Overview & Revenue Model

Company Description

The Sandur Manganese & Iron Ores Limited, operating alongside its subsidiary, primarily extracts manganese and iron ores from Deogiri village in Karnataka's Bellary District. The company's diverse operations are organized into three key segments: Min...

How the Company Makes Money

Sandur Manganese & Iron Ores Ltd primarily makes money by extracting mineral resources and selling them to customers in the steel and alloy value chain. The company’s core revenue stream is the sale of iron ore and manganese ore (and related mineral...

Sandur Manganese & Iron Ores Ltd Financial Statement Overview

Summary

Strong recent revenue and profit growth, healthy double-digit margins, growing equity and assets, reduced leverage, and solid operating and free cash flows support a high score, though volatility in margins and cash flows and cyclical exposure temper it.

Income Statement

80Positive

Balance Sheet

78Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	53.28B	50.88B	31.35B	12.38B	21.26B	22.49B
Gross Profit	26.60B	24.31B	20.23B	4.36B	7.94B	14.44B
EBITDA	12.61B	12.09B	8.62B	4.03B	4.52B	10.09B
Net Income	7.18B	6.57B	4.70B	2.39B	2.71B	6.75B
Balance Sheet
Total Assets	0	55.27B	56.48B	25.93B	25.32B	27.02B
Cash, Cash Equivalents and Short-Term Investments	2.28B	2.62B	4.21B	4.67B	4.81B	5.55B
Total Debt	0	9.99B	18.90B	1.33B	2.06B	3.10B
Total Liabilities	-32.70B	22.57B	30.21B	4.35B	5.98B	10.42B
Stockholders Equity	32.70B	32.54B	26.13B	21.58B	19.34B	16.59B
Cash Flow
Free Cash Flow	2.24B	8.14B	7.53B	503.10M	-450.10M	7.95B
Operating Cash Flow	3.40B	9.69B	8.41B	1.53B	1.42B	8.73B
Investing Cash Flow	-1.48B	-114.50M	-15.61B	-664.10M	-112.20M	-7.93B
Financing Cash Flow	-1.67B	-9.18B	7.04B	-1.07B	-1.29B	-1.06B

Sandur Manganese & Iron Ores Ltd Technical Analysis

Technical Analysis SentimentNegative

Last Price162.00

Price Trends

50DMA184.78Negative

100DMA195.14Negative

200DMA203.07Negative

Market Momentum

MACD-6.27Positive

RSI35.83Neutral

STOCH56.17Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SANDUMA, the sentiment is Negative. The current price of 162.00 is below the 20-day moving average (MA) of 171.98, below the 50-day MA of 184.78, and below the 200-day MA of 203.07, indicating a bearish trend. The MACD of -6.27 indicates Positive momentum. The RSI at 35.83 is Neutral, neither overbought nor oversold. The STOCH value of 56.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SANDUMA.

Sandur Manganese & Iron Ores Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SANDUMA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:SARDAEN	75Outperform	INR 155.36B	13.76	―	0.45%	5.90%	20.78%
IN:LLOYDSME	73Outperform	INR 1.02T	20.66	―	0.05%	233.77%	200.66%
IN:SANDUMA	72Outperform	INR 78.75B	10.96	―	0.31%	45.22%	45.66%
IN:NMDC	63Neutral	INR 590.90B	7.93	―	1.30%	27.34%	14.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SHYAMMETL	51Neutral	INR 324.85B	28.86	―	0.38%	22.76%	21.47%
IN:KIOCL	42Neutral	INR 197.73B	498.77	―	―	27.42%	―

* General Sector Average

Performance Comparison

IN:SANDUMA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SANDUMA	Sandur Manganese & Iron Ores Ltd	162.00	-63.10	-28.03%
IN:KIOCL	KIOCL Ltd	325.35	-107.10	-24.77%
IN:LLOYDSME	Lloyds Metals & Energy Ltd.	1824.15	504.84	38.27%
IN:NMDC	NMDC Limited	67.21	-5.54	-7.61%
IN:SARDAEN	Sarda Energy & Minerals Limited	440.90	-103.27	-18.98%
IN:SHYAMMETL	Shyam Metalics & Energy Ltd.	1163.80	264.96	29.48%

Sandur Manganese & Iron Ores Ltd Corporate Events

Sandur Manganese & Iron Ores Flags Transfer of Unclaimed Shares to IEPF

Sep 26, 2026

Sandur Manganese & Iron Ores Ltd is a Karnataka-based mining and metals company engaged in the extraction and production of manganese ore, iron ore and related ferroalloy products. With mining operations in Sandur Taluk and a metal and ferroalloy...

Sandur Manganese Diversifies into Medical Devices with New Wholly Owned Subsidiary

Sep 26, 2026

Sandur Manganese & Iron Ores Ltd has incorporated Royal Sandur MedTech Private Ltd in India as a wholly owned subsidiary following approval from the Ministry of Corporate Affairs. The new unit will manufacture, process, assemble, market and distr...

Sandur Rebrands Key Steel Subsidiaries Under Royal Sandur Banner

Aug 28, 2026

Sandur Manganese & Iron Ores Ltd has rebranded its key steel subsidiaries as part of a wider group rebranding, signaling a strategic effort to unify its corporate identity across mining and downstream metal operations. Arjas Steel Private Limited...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 11, 2026

Sandur Manganese & Iron Ores Ltd AI Stock Analysis