Sandur Manganese & Iron Ores has approved the incorporation of a wholly owned subsidiary, Royal Sandur MedTech Private Limited, marking its entry into the medical devices sector. The Board of Directors sanctioned the move during its 387th meeting held on September 17, 2026.

The new entity will operate in the manufacturing of medical devices and consumables. Its business scope includes processing, assembling, marketing, and distributing surgical products, diagnostic tools, and healthcare consumables. The subsidiary is yet to be incorporated and will be registered in India.

Investment Details

The listed company will subscribe to equity shares in cash, securing 100% control of the new venture. The financial structure of the investment is detailed below:

The incorporation is subject to necessary governmental and regulatory approvals as required by applicable laws. This strategic expansion aligns with the company’s earlier disclosure regarding venturing into new lines of business, referenced in a letter dated July 9, 2026.

What the Numbers Show

The ₹1 crore capital outlay for a wholly owned subsidiary indicates a focused initial entry into the healthcare manufacturing space. By retaining 100% equity, Sandur Manganese ensures complete operational control over the new vertical, avoiding dilution or partnership complexities in this early stage. The move diversifies the company’s portfolio beyond its core mining and metal operations into high-margin medical consumables.

Sandur Manganese & Iron Ores received a penalty order of ₹12 lakh from the Principal Commissioner of Customs, Chennai-III, on September 8, 2026. The action was taken against Royal Sandur Metals Private Limited, a material subsidiary of the listed entity, under Section 114 of the Customs Act, 1962.

The penalty stems from non-payment of export duty on goods supplied from the Domestic Tariff Area (DTA) to Sundaram Fasteners Limited’s Special Economic Zone (SEZ) unit. The violation occurred between May 22, 2022, and November 18, 2022, a period prior to Sandur Manganese’s acquisition of Royal Sandur Metals.

Regulatory Details

The disclosure was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. The key details of the order are as follows:

Financial Impact

Sandur Manganese stated that the penalty has no material impact on its financial or operational activities. The subsidiary is currently reviewing the order and assessing further legal recourse.

What the Numbers Show

The penalty relates to transactions executed before the company acquired Royal Sandur Metals. This suggests the liability is historical rather than operational, limiting its relevance to current management practices or ongoing cash flow requirements.