Sandur Manganese Reports ₹54,308L Standalone Net Profit for FY26, Recommends ₹0.50 Dividend

Sandur Manganese & Iron Ores Limited reported strong audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, approved at the company's 384th Board of Directors meeting held on 7 May 2026. The board also recommended a final dividend of ₹0.50 (Fifty Paise only) per equity share for the financial year ended 31 March 2026, subject to shareholders' approval at the ensuing Annual General Meeting. The financial results were audited by M/s. Deloitte Haskins & Sells (FRN: 008072S), who expressed an unmodified opinion on both standalone and consolidated statements.

Standalone Financial Performance

On a standalone basis, the company delivered a robust performance for the full year. Revenue from operations grew to ₹2,01,062 lakh compared to ₹1,93,854 lakh in the previous year. Total income stood at ₹2,07,544 lakh versus ₹2,01,122 lakh in the prior year. Profit before tax came in at ₹71,722 lakh against ₹59,678 lakh previously, while net profit for the year rose to ₹54,308 lakh from ₹44,452 lakh. Basic and diluted earnings per share (EPS) for the full year stood at ₹11.17 compared to ₹9.14 in the previous year.

The standalone quarterly performance also showed strong momentum, with Q4 revenue from operations at ₹66,817 lakh compared to ₹59,495 lakh in the corresponding quarter of the previous year. Net profit for Q4 stood at ₹19,626 lakh versus ₹13,930 lakh in the year-ago quarter.

Key standalone financial metrics are summarised below (₹ in lakh):

Metric: Q4 FY26 Q4 FY25 FY26 FY25 Revenue from Operations: 66,817 59,495 2,01,062 1,93,854 Total Income: 68,653 60,301 2,07,544 2,01,122 Profit Before Tax: 25,791 18,869 71,722 59,678 Net Profit: 19,626 13,930 54,308 44,452 Basic & Diluted EPS (₹): 4.04 2.87 11.17 9.14

Consolidated Financial Performance

On a consolidated basis, which includes subsidiaries Arjas Steel Private Limited (ASPL), Arjas Modern Steel Private Limited (AMSPL), and associate ReNew Sandur Green Energy Private Limited, the group reported revenue from operations of ₹5,08,842 lakh for the full year, significantly higher than ₹3,13,506 lakh in the previous year. Total income for the year was ₹5,16,299 lakh versus ₹3,21,218 lakh previously. Net profit after taxes and share of loss of associate for the year stood at ₹65,807 lakh compared to ₹47,061 lakh in the prior year. Consolidated basic and diluted EPS for the full year was ₹13.51 against ₹9.67 previously.

For Q4, consolidated revenue from operations was ₹1,51,139 lakh versus ₹1,32,127 lakh in the corresponding quarter of the previous year, and net profit stood at ₹23,628 lakh compared to ₹15,650 lakh.

Key consolidated financial metrics are summarised below (₹ in lakh):

Metric: Q4 FY26 Q4 FY25 FY26 FY25 Revenue from Operations: 1,51,139 1,32,127 5,08,842 3,13,506 Total Income: 1,53,089 1,33,029 5,16,299 3,21,218 Profit Before Tax: 29,689 20,446 82,749 62,414 Net Profit (after associate loss): 23,628 15,650 65,807 47,061 Basic & Diluted EPS (₹): 4.85 3.21 13.51 9.67

Segment-Wise Performance

On a standalone basis, the Mining segment remained the dominant contributor, with full-year segment revenue of ₹1,65,666 lakh (previous year: ₹1,61,489 lakh) and segment results of ₹86,045 lakh (previous year: ₹78,379 lakh). The Ferroalloys segment reported revenue of ₹37,714 lakh (previous year: ₹12,355 lakh) and turned profitable with segment results of ₹1,013 lakh versus a loss of ₹209 lakh previously. The Coke and Energy segment posted revenue of ₹14,183 lakh (previous year: ₹23,546 lakh) and segment results of ₹1,460 lakh, recovering from a loss of ₹9,142 lakh in the prior year.

On a consolidated basis, the Steel segment contributed revenue of ₹3,14,109 lakh for the full year (previous year: ₹1,21,248 lakh) with segment results of ₹20,233 lakh (previous year: ₹8,664 lakh), reflecting a full year of operations following the acquisition of Arjas Steel.

Consolidated segment revenue breakdown (₹ in lakh):

Segment: FY26 Revenue FY25 Revenue Mining: 1,65,666 1,61,489 Ferroalloys: 37,714 12,355 Coke and Energy: 14,183 23,546 Steel: 3,14,109 1,21,248

Balance Sheet Highlights

As at 31 March 2026, standalone total assets stood at ₹3,78,029 lakh compared to ₹3,93,209 lakh in the previous year. Equity share capital was ₹48,610 lakh and other equity was ₹2,62,241 lakh, resulting in total equity of ₹3,10,851 lakh versus ₹2,58,489 lakh previously. Non-current borrowings declined sharply to ₹24,617 lakh from ₹92,068 lakh, reflecting significant debt repayment during the year. Cash and cash equivalents at the standalone level improved to ₹3,358 lakh from ₹253 lakh.

On a consolidated basis, total assets were ₹5,52,707 lakh as at 31 March 2026 versus ₹5,64,821 lakh previously. Consolidated non-current borrowings reduced to ₹57,822 lakh from ₹1,33,547 lakh, while consolidated cash and cash equivalents rose to ₹5,299 lakh from ₹1,401 lakh.

Key Corporate Developments

During the year, the company undertook several significant corporate actions. The Board approved early redemption of Non-Convertible Debentures (NCDs) through internal accruals, and on 9 March 2026, the company redeemed in full 45,000, 11% secured, listed, redeemable NCDs aggregating to ₹42,300 lakh. The company also completed a bonus share issue — the Board and shareholders approved the issuance of 2 (two) fully paid-up bonus shares of ₹10/- each for every 1 (one) fully paid-up equity share held as on the record date of 22 September 2025, with 32,40,69,876 equity shares allotted on 23 September 2025. Accordingly, EPS figures for the quarter and year ended 31 March 2025 have been restated.

On the regulatory front, the company recognised an exceptional item of ₹1,889 lakh (standalone) and ₹3,227 lakh (consolidated) related to the estimated increase in gratuity liability and compensated absences arising from the Government of India's notification of the Labour Codes on 21 November 2025. Subsequent to the year-end, the company executed a Forest Lease Agreement on 8 April 2026 for the diversion of forest land to establish a Downhill Conveyor System (DCS), with operations expected to commence in the financial year 2026-27. Additionally, the Hon'ble High Court of Karnataka dismissed the company's Writ Petition on 30 April 2026 related to Compensatory Afforestation charges of ₹13,125 lakh, and the company is in the process of filing a Special Leave Petition before the Hon'ble Supreme Court of India.

Dividend and Board Meeting Details

The Board recommended a final dividend of ₹0.50 (Fifty Paise only) per equity share of ₹10/- each for the financial year 2025-26, subject to shareholders' approval at the ensuing Annual General Meeting. The record date is yet to be decided and will be finalised at the ensuing Board meeting.

Parameter: Details Dividend Per Share: ₹0.50 (Fifty Paise only) Dividend Type: Final Dividend Financial Year: Ended 31 March 2026 Board Meeting Number: 384th Board Meeting Date: 7 May 2026 Regulatory Reference: Regulation 30, SEBI (LODR) Regulations, 2015 Subject to: Shareholders' approval at AGM Record Date: To be announced

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