Sandur Manganese & Iron Ores Limited — PPTs, 14-02-2025: Investor Presentation

**Financial Highlights:** For Q3FY25, Sandur Manganese & Iron Ores Limited (SMIORE) reported a total income of ₹499 crore, a significant growth of 477% YoY and 240% QoQ. EBITDA rose to ₹210 crore, reflecting a 700% YoY increase, with an EBITDA margin of 42%. PAT stood at ₹127 crore, showcasing a whopping 1,219% growth year-on-year.

**Strategic Initiatives and Growth Drivers:** The company is expanding its mining capacity, having received approval to raise its annual iron ore production limit to 4.36 MTPA. The recent acquisition of Arjas Steel is expected to enhance vertical integration, streamlining operations and driving synergies.

**Business Developments:** SMIORE ramped up manganese ore production to 1.13 lakh tonnes in Q3, successfully recovering from prior adverse weather conditions. Despite challenges in the Ferroalloys segment, sales volumes are anticipated to improve going forward.

**Market Position and Competitive Advantage:** SMIORE is the second-largest manganese miner in India, benefiting from a strong credit rating and expansions into steel manufacturing through the Arjas acquisition, positioning itself as a comprehensive player in the metal sector.

**Investor Implications:** With robust growth metrics and strategic advancements, SMIORE is on a positive trajectory. The enhanced mining capacities and integration of Arjas Steel present promising opportunities for capitalizing on market demand and improving financial performance. Investors should watch developments closely, particularly in capacity utilization post-acquisition.