Sandur Manganese & Iron Ores Ltd Share Price – NSE  / BSE

Mining & Mineral products, Small Cap

Net profit of Sandur Manganese & Iron Ores rose 19.13% to Rs 32.14 crore in the quarter ended September 2024 as against Rs 26.98 crore during the previous quarter ended September 2023. Sales rose 40.82% to Rs 260.25 crore in the quarter ended September 2024 as against Rs 184.81 crore during the previous quarter ended September 2023.

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Sandur Manganese & Iron Ores will hold a meeting of the Board of Directors of the Company on 13 November 2024

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ASPL is an integrated specialty steel (alloy and microalloy) manufacturer located in Tadipatri with upstream and downstream facilities. ASPL is among the top 5 players in India primarily catering to the automotive sector. The consolidated turnover for FY24 of ASPL is Rs 2,608 crore.

The company said that the acquisition of ASPL is a strategic investment which brings potential benefits that aligns with its strategic vision and future road map to become a national integrated player in the steel industry.

Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in mining of low phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferro-alloys (silico-manganese) at its plant in Vyasankare, near Hospet.

The company's consolidated net profit surged to Rs 144.49 crore in Q1 FY25 as against Rs 39.78 crore in Q1 FY24. Net sales jumped 66% YoY to Rs 601.67 crore in June 2024 quarter.

The scrip slipped 3.45% to close at Rs 442.05 on Monday, 4 November 2024.

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The company will issue equity shares of face value Rs 10 each, in one or more tranches, for an aggregate amount not exceeding Rs 1,000 crore or an equivalent amount thereof, and at such price or prices as may be permissible under applicable laws.

The board has constituted and authorized QIP Committee of directors to decide on the terms and conditions of the issuance of equity shares and all related matters thereto.

The proposal is subject to receipt of approval of shareholders of the company and such other regulatory/ statutory approvals, as may be required.

Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in mining of low phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferro-alloys (silico-manganese) at its plant in Vyasankare, near Hospet.

The company's consolidated net profit surged to Rs 144.49 crore in Q1 FY25 as against Rs 39.78 crore in Q1 FY24. Net sales jumped 66% YoY to Rs 601.67 crore in June 2024 quarter.

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