Sandur Manganese & Iron Ores Ltd

Sandur Manganese Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Sandur Manganese & Iron Ores Ltd

₹ 420 -4.14%
21 Nov 1:57 p.m.
sandurgroup.com BSE: 504918 NSE: SANDUMA
About

The Sandur Manganese & Iron Ores Limited (SMIORE), the flagship company of the Karnataka based Sandur Group, incorporated in 1954. Company is involved in mining of low phosphorous manganese and iron ore in the Hosapete Ballari region of Karnataka. In addition, Company manufactures ferro-alloys (silico-Manganese and ferro manganese) and coke at its plant in Vyasankare, near Hospet.[1] It is the 3rd Largest Manganese ore miner in India.[2]

Key Points

Mining Segment (~64% of 9MFY24 revenues) [1]
This is the legacy business of the company wherein it is involved in the mining of iron and manganese ores. Company produces iron ore with Fe content of 56-58%, with lump to fine production ratio of 1:2.[2]Company has large mines with two leases up to 2033, ML-2678 and ML-2679, with an area of 1860.10 hectares (ha) and 139.20 ha, respectively [3]with reserves of Manganese Ore: 17MT & Iron Ore: 110 MT. Company currently has a capacity of Manganese Ore: 0.46 MTPA & Iron Ore: 3.81 MTPA[4]

Website BSE NSE
  • Market Cap ₹ 6,806 Cr.
  • Current Price ₹ 420
  • High / Low ₹ 636 / 252
  • Stock P/E 19.5
  • Book Value ₹ 143
  • Dividend Yield 0.23 %
  • ROCE 15.2 %
  • ROE 11.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 24.4%

Cons

  • Working capital days have increased from 110 days to 198 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Mining & Mineral products Industry: Mining / Minerals / Metals

Part of Nifty Microcap 250 BSE Allcap BSE Energy BSE SmallCap Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Jun 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
138 475 716 652 478 388 608 363 185 153 552 602 260
101 221 494 596 444 321 372 305 147 136 344 411 223
Operating Profit 36 254 222 56 35 67 235 58 37 17 208 191 38
OPM % 26% 54% 31% 9% 7% 17% 39% 16% 20% 11% 38% 32% 14%
4 8 12 12 18 12 17 19 18 15 31 23 25
Interest 2 10 9 7 7 7 7 6 5 5 4 4 5
Depreciation 5 12 19 16 16 16 16 14 14 15 15 14 14
Profit before tax 33 240 207 45 30 56 229 57 36 13 219 196 43
Tax % 40% 38% -14% 25% 26% 26% 24% 29% 26% 25% 26% 25% 26%
20 149 236 34 22 41 174 40 27 9 164 144 32
EPS in Rs 1.25 9.18 14.54 2.07 1.35 2.56 10.73 2.46 1.67 0.56 10.10 8.92 1.98
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2022 Mar 2023 Mar 2024 TTM
363 206 219 347 351 269 434 608 702 2,249 2,126 1,252 1,567
223 191 193 291 308 266 335 434 477 1,275 1,733 932 1,113
Operating Profit 140 15 26 57 42 3 99 174 225 974 392 320 453
OPM % 39% 7% 12% 16% 12% 1% 23% 29% 32% 43% 18% 26% 29%
4 12 23 17 4 23 10 13 18 35 59 83 95
Interest 2 1 2 0 2 0 7 5 6 38 28 20 18
Depreciation 14 19 19 18 10 9 12 12 13 56 64 58 58
Profit before tax 128 7 27 56 35 16 90 169 224 915 360 325 472
Tax % 35% 244% 14% 35% 20% 57% 33% 34% 34% 26% 25% 27%
83 -11 23 36 25 7 61 111 147 675 271 239 349
EPS in Rs 5.39 -0.49 1.58 2.34 1.62 0.47 3.80 7.01 9.30 41.67 16.72 14.78 21.56
Dividend Payout % 5% 0% 0% 7% 10% 36% 4% 6% 4% 1% 5% 68%
Compounded Sales Growth
10 Years: 14%
5 Years: 12%
3 Years: %
TTM: 2%
Compounded Profit Growth
10 Years: 20%
5 Years: 10%
3 Years: %
TTM: 24%
Stock Price CAGR
10 Years: 29%
5 Years: 67%
3 Years: 62%
1 Year: 69%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 Mar 2024 Sep 2024
Equity Capital 9 9 9 9 9 9 9 9 9 27 162 162
Reserves 278 270 295 329 351 355 420 522 662 1,907 1,996 2,156
12 0 0 0 0 0 0 0 0 206 133 275
209 191 164 177 174 145 167 156 191 392 302 381
Total Liabilities 507 470 467 514 533 508 596 687 862 2,532 2,593 2,974
252 241 229 222 225 224 225 262 260 878 886 890
CWIP 8 13 28 5 4 3 4 12 202 67 116 129
Investments 83 18 40 45 58 48 119 175 65 469 484 898
164 197 170 242 245 234 248 238 335 1,118 1,106 1,056
Total Assets 507 470 467 514 533 508 596 687 862 2,532 2,593 2,974

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2022 Mar 2023 Mar 2024
56 -66 32 16 36 -7 85 128 169 873 142 153
-67 60 -28 -9 -24 4 -71 -106 -147 -793 -11 -66
-8 -5 -0 -0 -3 -3 -13 -13 -12 -106 -129 -107
Net Cash Flow -20 -12 4 8 9 -7 1 9 10 -26 2 -20

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2022 Mar 2023 Mar 2024
Debtor Days 20 81 31 43 6 10 5 3 11 25 10
Inventory Days 1,836 574 256 440 238 180 92 794
Days Payable 665 346 107 146 128 207 79 275
Cash Conversion Cycle 20 1,252 259 43 6 159 299 113 -16 37 529
Working Capital Days -72 -31 -70 -8 -22 -1 -10 -3 -16 21 198
ROCE % 46% 2% 9% 16% 10% -1% 23% 34% 36% 15%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
73.18% 73.18% 73.23% 74.37% 74.37% 74.37% 74.31% 74.26% 74.22% 74.22% 74.22% 74.22%
0.25% 0.36% 0.51% 0.49% 0.30% 0.32% 0.31% 0.33% 0.43% 0.70% 0.77% 0.99%
0.81% 0.81% 0.80% 0.81% 0.81% 0.79% 0.74% 0.64% 1.26% 1.42% 1.45% 1.46%
25.76% 25.65% 25.46% 24.34% 24.53% 24.52% 24.65% 24.78% 24.07% 23.67% 23.56% 23.34%
No. of Shareholders 12,25312,71624,21430,56030,24327,45825,80324,75734,62157,02352,80354,523

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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