Sandur Manganese & Iron Ores Limited — PPTs, 04-02-2026: Investor Presentation

**Business Performance:** SMIORE (Sandur Manganese & Iron Ores) posted a strong Q3FY26. Consolidated revenue jumped 27% YoY to ₹1,237 Cr; 9M revenue soared 93% YoY to ₹3,632 Cr. Q3 PAT was ₹116 Cr (impacted by a one-time item), with 9M PAT up 34% YoY to ₹422 Cr. Mining saw record manganese ore sales & robust iron ore output. Arjas Steel (post-Nov 2024 consolidation) delivered stable production.

**Growth Drivers/Strategy:** SMIORE expands iron ore (to 4.45 MTPA) & manganese ore (to 0.599 MTPA) mining. The Arjas Steel acquisition drives specialty steel integration, supported by hybrid renewable energy. The board approved prepaying ₹423 Cr NCDs to reduce costs & boost financial strength.

**Recent Developments:** Arjas Steel commissioned a new Ingot Casting Facility (Dec 2025). SMIORE joined the Top 500 listed companies by market cap (Oct 2025) and secured approvals for higher iron ore production.

**Management Outlook:** MD Bahirji A. Ghorpade noted healthy performance, strong cash flows & a positive metals/mining outlook. Expect continued deleveraging, increased captive manganese ore use, better coke utilization, and stronger Arjas Steel performance, backed by government safeguard duties.