Sandur Manganese & Iron Ores Limited has informed the Exchange about Investor Presentation
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Sandur Manganese & Iron Ores (SMIORE) filed its Q1FY26 investor presentation. Consolidated total income rose 84% YoY to ₹1,150 Cr, driven by the Arjas Steel acquisition (consolidated from Nov 2024), with EBITDA up 47% YoY at ₹314 Cr and PAT at ₹167 Cr (up 16% YoY). Standalone performance was weaker, with income down 30% YoY to ₹435 Cr and EBITDA margins contracting ~694 bps YoY. The Board approved a 2:1 bonus issue to reward shareholders. Mining expansion is complete, with MPAP now at 4.45 MTPA for iron ore and 0.599 MTPA for manganese ore. Coke volumes dropped sharply due to a June maintenance shutdown and conversion-agreement ramp-up issues, though the coking coal import restrictions were extended to 31 Dec 2025. Iron ore realisations improved QoQ while manganese ore realisations continued to soften.
Bonus issue of 2:1 is a clear positive for retail shareholders, improving liquidity. Mixed quarter — consolidated growth looks strong on paper but is largely inorganic (Arjas), while standalone core business showed YoY weakness, especially in coke and manganese realisations. Promoter holding remains high at 74.22%, signalling confidence.