An Indian company with a lengthy history of mining and producing commodities is Sandur Manganese & Iron Ores Limited (SMIORE). Founded in 1954, it is a significant participant in Karnataka’s manganese and iron ore mining sector, generating ferroalloys, coke, and power.
Sandur Manganese & Iron Ores Ltd.’s (NSE: SANDUMA) share price ended at Rs 469.60 on August 11, 2025, down 2.62% from the previous closing price. Over the course of the trading day, the stock fluctuated between a high of Rs 482.00 and a low of Rs 467.00, having opened at Rs 477.80. In addition to posting financial results for the quarter ending June 30, 2025, the stock made headlines recently after its board meeting on August 8, 2025, when it announced a bonus share issuance and an enhanced dividend of Rs 1.25 per share.
Sandur Manganese Bonus Shares
The Board of Directors at its 380th meeting held on Friday, 8 August 2025 “had inter alia, considered and approved the issue of Bonus Shares to the equity shareholders of the Company in the ratio of 2:1 i.e., 2 (Two) new fully paid-up Equity Shares of Rs 10/- (Rupees Ten) each for every 1 (One) existing fully paid-up Equity Share of Rs 10/- (Rupees Ten) each held by the eligible shareholders as on the Record Date (to be determined by the Board and to be intimated to the Exchanges in due course) upon obtaining approval of the shareholders,” said Sandur Manganese in a regulatory filing.
The action will raise the authorized equity share capital from 20 crore shares to 60 crore shares, while increasing the company’s issued, subscribed, and paid-up equity share capital from 16,20,34,938 shares, totaling a capital of Rs 16,203.49 lakh, to 48,61,04,814 shares, totaling a capital of Rs 48,610.48 lakh. In order to reward shareholders and improve liquidity, the bonus shares, which have a value of Rs 324.07 crore, would be distributed from the company’s free reserves as of June 30, 2025.
As of June 30, 2025, Sandur Manganese & Iron Ores Ltd. reported free reserves of Rs 25,81,41,04,191, which are available for capitalization to support its 2:1 bonus issue plan. The company has declared that the bonus shares will be credited to eligible shareholders within two months from the Board’s approval date, i.e., on or before October 7, 2025.
Sandur Manganese Upcoming Dividend
“In furtherance to our intimation to Stock Exchanges vide letter No. SMIORE / SEC / 2025-26 / 9 dated 28 May 2025 regarding recommendation of final dividend of Rs 1.25/- (One Rupee TwentyFive Paise only) per equity share for the financial year ended 31 March 2025 by the Board, it is informed that the Record Date for the purpose of final dividend is fixed as Wednesday, 10 September 2025. This final dividend, once approved by the shareholders in the ensuing AGM will be paid within 30 days from the date of approval. The Register of Members and Share Transfer Books of the Company will remain closed from Thursday, 11 September 2025 to Wednesday, 17 September 2025 (both days inclusive) for the purpose of the ensuing AGM and for determining the entitlement of shareholders to final dividend for the financial year ended 31 March 2025, if approved at the AGM,” said Sandur Manganese in a regulatory filing.
The company’s 71st AGM will be held on Wednesday, the 17th day of September 2025.
Sandur Manganese Financials
The firm recorded standalone total income of Rs 435 crore in Q1FY26, which represents a 28% quarter-on-quarter (QoQ) and 30% year-on-year (YoY) drop. The net profit was Rs 129 crore, down 12% YoY and 7% QoQ, with a 30% margin, while the standalone EBITDA was Rs 219 crore, up 2% YoY but down 10% QoQ.
With a gross debt-to-equity ratio of 0.37, margins increased YoY by 1,613 basis points for EBITDA and 618 basis points for net profit. Consolidated total income was Rs 1,150 crore, up 84% year on year but down 14% quarter on quarter. While net profit was Rs 167 crore, up 16% YoY and 7% QoQ, with a 15% margin, consolidated EBITDA was Rs 314 crore, up 47% YoY but down 3% QoQ. However, the gross debt-to-equity ratio was 0.68, and margins shrank YoY by 694 basis points for EBITDA and 860 basis points for net profit.
Sandur Manganese Share Price Target
“Sandur Manganese has reclaimed its key support at ₹465 after a brief pullback, indicating renewed buying interest. Immediate resistance is placed at ₹490, and a breakout above this could take the stock toward ₹510 in the short term. The price structure is supportive, with the stock trading above its short-term moving averages. RSI is gradually improving, suggesting further upside potential. Buying on dips toward ₹468-₹470 with a stop-loss below ₹460 could be considered for a short-term trade targeting a breakout continuation,” commented Riyank Arora, technical analyst at Mehta Equities Ltd.