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Sandur Manganese & Iron Ores Ltd
(SANDUMA)
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Rating:67Neutral
Price Target:
₹221.00
▼(-16.51% Downside)
Action:Downgraded
Date:05/10/26
The score is driven primarily by solid financial performance (healthy profitability and improved leverage), partially offset by uneven cash conversion and cyclicality. Technically, momentum is positive but near-term conditions look extended (high RSI). Valuation is a headwind due to a relatively high P/E and minimal dividend yield.
Positive Factors
Improving leverage
A material reduction in debt-to-equity to ~0.31 from ~0.72 meaningfully lowers balance-sheet risk and increases financial flexibility. This supports the company’s ability to fund mining capex, absorb price shocks, and pursue incremental growth or deleveraging without large near-term refinancing pressure.
Negative Factors
Inconsistent cash conversion
Operating cash flow converting to only ~62% of net income highlights material working‑capital swings and uneven cash conversion. This undermines the reliability of reported profits to fund operations and capex, increasing the chance of short‑term liquidity strain or the need for external funding during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage
A material reduction in debt-to-equity to ~0.31 from ~0.72 meaningfully lowers balance-sheet risk and increases financial flexibility. This supports the company’s ability to fund mining capex, absorb price shocks, and pursue incremental growth or deleveraging without large near-term refinancing pressure.
Read all positive factors
Sandur Manganese & Iron Ores Ltd (SANDUMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹98.87B
Dividend Yield0.18%
Average Volume (3M)739.42K
Price to Earnings (P/E)15.0
Beta (1Y)1.74
Revenue Growth62.31%
EPS Growth39.66%
CountryIN
Employees2,528
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)12.33
Shares Outstanding486,104,830
10 Day Avg. Volume1,499,239
30 Day Avg. Volume739,418
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)2.57
Price to Sales (P/S)1.64
P/FCF Ratio10.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Sandur Manganese & Iron Ores Ltd Business Overview & Revenue Model
Company Description
The Sandur Manganese & Iron Ores Limited, operating alongside its subsidiary, primarily extracts manganese and iron ores from Deogiri village in Karnataka's Bellary District. The company's diverse operations are organized into three key segments: ...
How the Company Makes Money
Sandur Manganese & Iron Ores Ltd primarily makes money by extracting iron ore and manganese ore and selling these commodities to customers (typically steel producers, ferroalloy producers, and other industrial users). Revenue is generated from (1)...
Sandur Manganese & Iron Ores Ltd Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
79
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.41B | 50.88B | 31.35B | 12.38B | 21.26B | 22.49B |
| Gross Profit | 27.45B | 24.31B | 20.23B | 4.36B | 7.94B | 14.44B |
| EBITDA | 11.84B | 12.09B | 8.62B | 4.03B | 4.52B | 10.09B |
| Net Income | 5.99B | 6.57B | 4.70B | 2.39B | 2.71B | 6.75B |
Balance Sheet | ||||||
| Total Assets | 58.02B | 55.27B | 56.48B | 25.93B | 25.32B | 27.02B |
| Cash, Cash Equivalents and Short-Term Investments | 5.07B | 2.62B | 4.21B | 4.67B | 4.81B | 5.55B |
| Total Debt | 18.54B | 9.99B | 18.90B | 1.33B | 2.06B | 3.10B |
| Total Liabilities | 28.85B | 22.57B | 30.21B | 4.35B | 5.98B | 10.42B |
| Stockholders Equity | 29.02B | 32.54B | 26.13B | 21.58B | 19.34B | 16.59B |
Cash Flow | ||||||
| Free Cash Flow | 2.24B | 8.14B | 7.53B | 503.10M | -450.10M | 7.95B |
| Operating Cash Flow | 3.40B | 9.69B | 8.41B | 1.53B | 1.42B | 8.73B |
| Investing Cash Flow | -1.48B | -114.50M | -15.61B | -664.10M | -112.20M | -7.93B |
| Financing Cash Flow | -1.67B | -9.18B | 7.04B | -1.07B | -1.29B | -1.06B |
Sandur Manganese & Iron Ores Ltd Technical Analysis
Negative
264.70
Price Trends
218.94
Negative
209.38
Negative
207.61
Negative
Market Momentum
-3.16
Positive
40.30
Neutral
21.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SANDUMA, the sentiment is Negative. The current price of 264.7 is above the 20-day moving average (MA) of 214.48, above the 50-day MA of 218.94, and above the 200-day MA of 207.61, indicating a bearish trend. The MACD of -3.16 indicates Positive momentum. The RSI at 40.30 is Neutral, neither overbought nor oversold. The STOCH value of 21.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SANDUMA.
Sandur Manganese & Iron Ores Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹748.54B | 10.04 | ― | 4.05% | 34.16% | 13.94% | |
67 Neutral | ₹98.87B | 15.01 | ― | 0.18% | 62.31% | 39.66% | |
65 Neutral | ₹1.02T | 25.96 | ― | 0.07% | 157.33% | 151.60% | |
64 Neutral | ₹266.50B | 24.90 | ― | 0.77% | 22.46% | 16.97% | |
63 Neutral | ₹174.66B | 15.82 | ― | 0.28% | 22.56% | 58.01% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | ₹236.66B | 1,390.54 | ― | ― | 3.88% | ― |
* Basic Materials Sector Average
IN:SANDUMA
Sandur Manganese & Iron Ores Ltd
203.40
47.52
30.48%
IN:KIOCL
KIOCL Ltd
389.40
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IN:LLOYDSME
Lloyds Metals & Energy Ltd.
1,810.80
234.74
14.89%
IN:NMDC
NMDC Limited
85.14
20.06
30.83%
IN:SARDAEN
Sarda Energy & Minerals Limited
495.65
59.35
13.60%
IN:SHYAMMETL
Shyam Metalics & Energy Ltd.
954.75
84.06
9.65%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.