Sandur Manganese & Iron Ores Limited (SMIORE) announced its investor presentation for the quarter and nine months ended December 31, 2025. The company reported a 2% year-on-year (YoY) growth in total income to ₹1,237 crore for Q3FY26, while EBITDA saw a 4% YoY increase to ₹279 crore. However, Profit After Tax (PAT) declined by 15% YoY to ₹108 crore, impacted by a one-time exceptional item of ₹14 crore related to new labor codes. On a sequential (quarter-on-quarter) basis, total income grew by 13%, and EBITDA by 4%, while PAT saw a 2% decline. The company's consolidated performance for Q3FY26 showed a robust 93% YoY growth in total income to ₹3,632 crore and a 64% YoY increase in EBITDA to ₹878 crore. Consolidated PAT grew by 34% YoY to ₹422 crore, also impacted by a one-time exceptional item of ₹27 crore. The management commentary highlighted healthy performance across key segments, driving deleveraging, supported by robust cash flows and an improving outlook in the metals and mining businesses. The mining segment saw strong performance with manganese ore production ramping up and iron ore operations remaining robust. Ferroalloys production was stable, with expectations of a more favorable operating environment. Arjas Steel maintained steady production and sales, with the government's safeguard duties expected to support the domestic market. A significant development was the Board's approval to prepay the entire outstanding Non-Convertible Debentures (NCDs) of ₹423 crore, issued in October 2024, aiming to optimize borrowing costs and strengthen the financial position. The company also reported its highest-ever manganese ore sales in Q3FY26.
