This mineral stock is engaged in mining, ferroalloy production, hydroelectric power, and manufacturing resistor networks, copper-clad laminates, and solar panels, hit a 20 percent upper circuit after the company reported strong December quarterly results with a 1415.77 percent YOY increase in net profit.
Stock Price Movement:
With a market capitalization of Rs. 6,685.56 crores, the shares of Sandur Manganese and Iron Ores Limited hit a 20 upper circuit of Rs. 414.40 per share on Monday, up from its previous closing price of Rs. 345.35 per share. Since then, the stock has retreated and is currently trading at Rs. 412.60 per equity share.
Q3 FY25 Result Walkthrough:
Coming into the quarterly results of Sandur Manganese and Iron Ores Limited, the company’s consolidated revenue from operations increased by 522.06 percent YoY, from Rs. 153.02 crore in Q3 FY24 to Rs. 951.87 crore in Q3 FY25, and grew by 265.75 percent QoQ from Rs. 260.25 crore in Q2 FY25.
The company generated revenue of 41.93 percent (Rs. 399.48 crore) from mining, 0.21 percent (Rs. 2.02 crore) from ferroalloys, 8.41 percent (Rs. 80.12 crore) from coke and energy, 49.35 percent (Rs. 470.20 crore) from steel and 0.01 percent (Rs. 0.96 crore) from unallocable revenue in Q3 FY25.
In Q3 FY25, Sandur Manganese and Iron Ores Limited’s consolidated net profit increased by 1,415.77 percent YOY, reaching Rs. 137.48 crore compared to Rs. 9.07 crore during the same period last year. As compared to Q3 FY25, the net profit has increased by 327.75 percent, from Rs. 32.14 crore in Q2 FY25.
The basic earnings per share increased by 1,414.29 percent and stood at Rs 8.48 as against Rs 0.56 recorded in the same quarter in the previous year 2024.
Product and service offerings:
Sandur Manganese & Iron Ores Limited (SMIORE) is involved in mining low-phosphorus manganese and iron ore in Karnataka. It produces ferro-alloys, coke, and hydroelectric power. The company also makes resistor networks, copper-clad laminates, and solar panels, with a 30 MW annual production capacity for solar photovoltaic modules.
Written By – Nikhil Naik
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