SANDUMAMetals & Mining

Sandur Manganese & Iron Ores Limited

Iron & Steel · ISIN INE149K01016 · BSE 504918 · NSE EQ · FV ₹10
Last price
₹181
+10.19%today
What this company does

Sandur Manganese & Iron Ores Limited operates in Iron & Steel, part of the Metals & Mining sector. It booked ₹1,375 cr of revenue in its latest quarter (Q1 FY27) and kept 16.5% of sales as profit. It is the 9th largest of 9 Iron & Steel companies we track, by market value.

In the report:
73out of 100
Equitytale Health Score
Solid

Healthier than 73% of companies in Metals & Mining, on the 5 of 6 measures we could read for it. Each measure is ranked against the 13–27 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
41

At close. Not part of the score.

Profitability & returns69

How much profit it earns on the money it employs

Balance sheet61

How much it owes, and whether earnings cover the interest

Cash quality86

Whether reported profit actually arrives as cash

Valuation67

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 17% net margin
✓ Sales up 21% vs last year
✓ Profit up 36% vs last year
✓ Promoters hold 74%
✓ No promoter shares pledged
✓ Strong 28% return on equity
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in SANDUMA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹181▲ +10.19%
latest close · 2026-11-04
52-wk low ₹15374 sessions so far52-wk high ₹218
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio9.7Low
LowAverageHigh
P/B ratio2.70Moderate
Below bookModerateHigh
EV / EBITDA6.8Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity27.9%Strong
WeakFairStrong ▸15%
Return on capital31.0%Strong
WeakFairStrong
Net margin16.5%Strong
ThinDecentStrong
EBITDA margin26.1%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.30Comfortable
LowModerateHigh ▸1
Interest cover11.8×Strong
RiskyOkayStrong ▸5×
Current ratio1.15Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹8,795 cr
Book value
₹67
EPS
₹4.67
latest quarter
Net debt
₹942 cr
owes more than its cash
Enterprise value
₹9,737 cr
EBITDA
₹1,433 cr
annualised
EBIT
₹1,229 cr
annualised
Operating margin
22.3%
Return on assets
16.4%
Earnings yield
10.32%
P/S
1.60
Sales / share
₹113.1
Tax rate
18.6%
Face value
₹10
Shares
48.6 cr
Working capital
₹239 cr
Current assets
₹1,802 cr
Current liabilities
₹1,563 cr
Delivery %
43.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹116 vs market price ₹181 — price is 56% above it
Safety cushion-55.6%(target ≥ +20%)
Models span ₹83–₹149, midpoint ₹116
Model ₹116
Price ₹181
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,375 cr
Other Income₹15 cr
Total Income₹1,390 cr
Cost of Materials₹570 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-5 cr
Employee Benefit Expense₹82 cr
Finance Costs₹26 cr
Depreciation & Amortisation₹51 cr
Other Expenses₹385 cr
Total Expenses₹1,108 cr
Profit before Tax₹281 cr
Tax Expense₹52 cr
Share of JV / Associates₹-1 cr
Net Profit₹228 cr
Net margin on total income16.4%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹565 cr40.7%
Employee benefit expense₹82 cr5.9%
Finance costs₹26 cr1.9%
Depreciation & amortisation₹51 cr3.7%
Other expenses₹385 cr27.7%
Tax expense₹52 cr3.8%
Profit for the period₹228 cr16.4%
Total income ₹1,390 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,209 cr1,511 cr1,375 cr
Total income1,237 cr1,531 cr1,390 cr
Expenses1,058 cr1,234 cr1,108 cr
Profit before tax147 cr297 cr281 cr
Tax30 cr60 cr52 cr
Net profit (owners' share)116 cr236 cr227 cr
Net margin (owners' share, on revenue)9.6%15.6%16.5%
EPS (₹)2.384.854.67
YoY (latest quarter): total income +20.8% · net profit +36.3%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹5,527 cr
Shareholder equity
₹3,254 cr
parent shareholders
Total debt
₹995 cr
Cash
₹53 cr
Cash flow · H1 FY26
Operating
₹340 cr
Investing
₹-148 cr
Financing
₹-167 cr
Peer comparison
Iron & Steel · by market value
CompanyPriceMarket capP/E
JSW Steel Limited₹1,320₹3.22 L cr15.3
Tata Steel Limited₹177₹2.20 L cr23.7
JINDAL STEEL LIMITED₹1,105₹1.12 L cr36.3
Steel Authority of India Limited₹168₹69,186 cr9.9
Jindal Stainless Limited₹679₹55,959 cr15.6
Sarda Energy & Minerals Limited₹429₹15,130 cr12.4
NMDC Steel Limited₹38₹11,230 cr50.4
Vedanta Iron and Steel Limited₹26₹10,166 cr—
Sandur Manganese & Iron Ores Limitedthis company₹164₹7,982 cr8.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.28%
trailing 12 months
Dividend / share (TTM)
₹0.5
Last dividend
₹0.5
ex 12 Aug 2026
ActionDetailEx-date
Dividend₹0.5 / share12 Aug 2026
Bonus issue1:222 Sep 2025
Dividend₹1.25 / share10 Sep 2025
Dividend₹1 / share11 Sep 2024
Bonus issue1:52 Feb 2024
Dividend₹5 / share13 Sep 2023
Who owns it · 2026-09-30
No pledge
Promoter
74.2%
FII / Foreign
2.0%
DII / Domestic
0.6%
Retail / others
23.2%
Smart-money activity
Insider trades
BoughtBahirji Ajai Ghorpade · Promoters4,000 · ₹18.6 L17 Oct 24
SoldMohammed Abdul Saleem · Promoter Group4,000 · ₹18.6 L17 Oct 24
BoughtSkand Private Limited · Promoters50,000 · ₹2.7 cr21 May 24
Bulk / block deals
short— · NSE20027 Aug 26
short— · NSE5526 Aug 26
short— · NSE10018 Aug 26
Stake changes
BoughtLohagiri Industrials Private Ltd · promoter→ 18.19% · 7.25 cr15 Dec 25
BoughtLohagiri Industrials Private Ltd · promoter→ 18.19% · 7.25 cr15 Dec 25
BoughtLohagiri Industrials Private Limited · promoter→ 18.19% · 7.25 cr15 Dec 25
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 19 Aug 2026
See the official result
1
To receive, consider and adopt audited standalone financial statement of the Company for the financial year ended 31 March 2026, together with the Reports of the Board of Directors and the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
1.09 cr votes for, 776 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt audited consolidated financial statement of the Company for the financial year ended 31 March 2026, together with the Report of the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
1.09 cr votes for, 710 against · 0% of mutual funds and other big investors said no
3
To declare final dividend of Rs.0.50 per Equity Share of face value of Rs.10 each for the financial year ended 31 March 2026
Backed by 100% of shareholders other than promotersneeded 50%
1.11 cr votes for, 596 against · 0% of mutual funds and other big investors said no
4
To re-appoint a director in place of Mohammed Abdul Saleem (DIN: 00061497) who retires by rotation and being eligible, offers himself for re-appointment
Backed by 98% of shareholders other than promotersneeded 50%
1.08 cr votes for, 2.68 L against · 3% of mutual funds and other big investors said no
5
Appointment of T. R. Raghunandan (DIN: 03637265) as an Independent Director
⚑ Passed only because promoters voted yes
Backed by 67% of shareholders other than promotersneeded 75%
74.42 L votes for, 36.21 L against · 41% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 11 named members
owning 74.2% between them · as of 2026-09-30
SKAND PRIVATE LIMITED52.41%
LOHAGIRI INDUSTRIALS PRIVATE LIMITED18.19%
BAHIRJI AJAI GHORPADE3.15%
AJAI MURAR RAO GHORPADE0.26%
S Y GHORPADE0.16%
YASHODARA DEVI SHIVA RAO GHORPADE0.04%
ADITYA SHIVRAO GHORPADE0.01%
SURYAPRABHA A GHORPADE0.01%
Business done with them
FY2026 · 8 of the group
The company paid ₹122 cr to companies in the promoter group last year — about 2.4% of its ₹5,088 cr revenue and received ₹9 L back from them.
Lohagiri Industrials Private Limited
Paid them for services · Purchase, sales and Services
also owns 18.19% of the company
₹72 cr
company paid
Bahirji Ajai Ghorpade
Paid them for services · Managerial Remunertion
also owns 3.15% of the company
₹23 cr
company paid
Skand Private Limited
Other payments to them · Purchase, sales and Services
also owns 52.41% of the company
₹11 cr
company paid
SANDUR SALES AND SERVICES PRIVATE LIMITED
Paid them for services · Purchase, sales and Services
₹8 cr
company paid
Lohagiri Industrials Private Limited
Bought goods from them · Purchase, sales and Services
also owns 18.19% of the company
₹2 cr
company paid
Euro Industrial Enterprises Private Limited
Other payments to them · Purchase, sales and Services
₹2 cr
company paid
Mohammed Abdul Saleem
Paid them for services · Managerial Remunertion
₹1 cr
company paid
Sandur Udyog Private Limited
Other payments to them · Purchase, sales and Services
₹83 L
company paid
Lohagiri Industrials Private Limited
Other payments to them · Purchase, sales and Services
also owns 18.19% of the company
₹66 L
company paid
SANDUR SALES AND SERVICES PRIVATE LIMITED
Other payments to them · Purchase, sales and Services
₹65 L
company paid
Bahirji Ajai Ghorpade
Other payments to them · Managerial Remunertion
also owns 3.15% of the company
₹64 L
company paid
Sandur Udyog Private Limited
Paid them for services · Purchase, sales and Services
₹60 L
company paid
Euro Industrial Enterprises Private Limited
Leases As Lessee · Purchase, sales and Services
₹18 L
company received
Skand Private Limited
Leases As Lessee · Purchase, sales and Services
also owns 52.41% of the company
₹11 L
company received
Euro Industrial Enterprises Private Limited
Paid them for services · Purchase, sales and Services
₹9 L
company paid
Lohagiri Industrials Private Limited
Leases As Lessee · Purchase, sales and Services
also owns 18.19% of the company
₹9 L
company received
Lohagiri Industrials Private Limited
Sold goods to them · Purchase, sales and Services
also owns 18.19% of the company
₹8 L
company received
Lohagiri Industrials Private Limited
Leases As Lessor · Purchase, sales and Services
also owns 18.19% of the company
₹5 L
company received
Euro Industrial Enterprises Private Limited
Bought goods from them · Purchase, sales and Services
₹5 L
company paid
Ekambar Ajai Ghorpade
Sold property or assets to them · Sale
₹1 L
company received
Ekambar Ajai Ghorpade
Other payments to them · Sale
₹1 L
company paid

The company also transacted with 19 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.