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Sandur Manganese & Iron Ores Ltd
(SANDUMA)
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Rating:70Outperform
Price Target:
₹195.00
▼(-0.03% Downside)
Action:Upgraded
Date:08/11/26
The score is driven primarily by solid financial performance—healthy profitability and improved leverage—tempered by volatility across years and inconsistent cash conversion. Valuation is reasonable (P/E ~13.9) but the low dividend yield offers limited support. Technicals are mixed, with the stock below key longer-term moving averages and only neutral momentum indicators.
Positive Factors
Lower Leverage and Solid Returns
Material deleveraging reduces balance-sheet risk and improves financial flexibility for a mining business exposed to commodity cycles. The approximately 20% FY2026 return on equity also indicates that the enlarged equity base is still generating solid returns, supporting durable capital efficiency.
Negative Factors
Cyclical Revenue and Margin Exposure
Volatility in revenue and profitability indicates meaningful sensitivity to the mining cycle and pricing environment. Margin compression after the stronger FY2025 level suggests that improved earnings may not persist consistently, making medium-term profit planning and reinvestment capacity less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Lower Leverage and Solid Returns
Material deleveraging reduces balance-sheet risk and improves financial flexibility for a mining business exposed to commodity cycles. The approximately 20% FY2026 return on equity also indicates that the enlarged equity base is still generating solid returns, supporting durable capital efficiency.
Read all positive factors
Sandur Manganese & Iron Ores Ltd (SANDUMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹86.14B
Dividend Yield0.28%
Average Volume (3M)42.14K
Price to Earnings (P/E)12.0
Beta (1Y)1.93
Revenue Growth45.22%
EPS Growth45.66%
CountryIN
Employees2,716
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)14.75
Shares Outstanding486,104,830
10 Day Avg. Volume36,733
30 Day Avg. Volume42,138
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)2.57
Price to Sales (P/S)1.64
P/FCF Ratio10.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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: ...
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 miner...
Sandur Manganese & Iron Ores Ltd Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
79
Positive
Cash Flow
72
Positive
| 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 | 0.00 | 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 | 0.00 | 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
Negative
195.05
Price Trends
195.35
Negative
203.24
Negative
207.76
Negative
Market Momentum
-4.61
Negative
37.33
Neutral
36.89
Neutral
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 195.05 is above the 20-day moving average (MA) of 183.18, below the 50-day MA of 195.35, and below the 200-day MA of 207.76, indicating a bearish trend. The MACD of -4.61 indicates Negative momentum. The RSI at 37.33 is Neutral, neither overbought nor oversold. The STOCH value of 36.89 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹632.66B | 8.46 | ― | 1.22% | 27.34% | 14.07% | |
70 Outperform | ₹86.14B | 12.05 | ― | 0.28% | 45.22% | 45.66% | |
63 Neutral | ₹169.74B | 15.01 | ― | 0.41% | 5.90% | 20.78% | |
62 Neutral | ₹1.02T | 20.54 | ― | 0.05% | 233.77% | 200.66% | |
62 Neutral | ₹295.91B | 26.31 | ― | 0.42% | 22.76% | 21.47% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹218.15B | 551.92 | ― | 0.86% | 27.42% | ― |
* General Sector Average
IN:SANDUMA
Sandur Manganese & Iron Ores Ltd
177.20
-27.35
-13.37%
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504.34
38.26%
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71.96
-1.93
-2.62%
IN:SARDAEN
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481.70
-73.42
-13.23%
IN:SHYAMMETL
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15.09%
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 p...
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 distrib...
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 h...
Sandur Manganese & Iron Ores moves to ensure Annual Report access for offline shareholders
Jul 27, 2026
Sandur Manganese Iron Ores Limited has notified stock exchanges that it is sending letters to shareholders whose email addresses are not registered with the company, its registrar, or depository participants. These communications aim to ensure th...
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.