Sandur Manganese & Iron Ores Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Sandur Manganese & Iron Ores filed Q1FY26 results reviewed by Deloitte Haskins & Sells with an unmodified (clean) limited review opinion. On a standalone basis, revenue from operations fell sharply to ₹42,272 lakh from ₹60,167 lakh in Q1FY25 (about 30% lower), and standalone profit after tax slipped to ₹12,875 lakh (₹7.95 EPS) from ₹14,635 lakh (₹9.03 EPS). Despite the revenue drop, standalone operating margin expanded strongly to 45.26% from 29.42% a year ago, and net profit margin rose to 30.46% from 24.32%. On a consolidated basis, revenue jumped to ₹1,13,538 lakh from ₹60,167 lakh because the Arjas Steel subsidiary (acquired in November 2024) is now consolidated, with consolidated PAT rising to ₹16,709 lakh (₹10.28 EPS). The Board also approved a bonus share issue in the ratio of 2:1 (two bonus shares for every one held), subject to shareholder approval, and the company has ₹43,650 lakh of secured listed non-convertible debentures outstanding.
The standalone revenue decline is a red flag for the core mining/ferroalloys business, but the much higher margins suggest better realisations or a richer product mix, which is a positive. The 2:1 bonus issue should boost share liquidity and is generally viewed favourably by retail investors, though it dilutes per-share metrics. Consolidated numbers are not directly comparable to last year due to the Arjas Steel acquisition, so investors should focus on standalone trends and segment-level results to judge underlying performance.