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.

Sandur Manganese & Iron Ores shareholders approved a final dividend of ₹0.50 per equity share and several board appointments at the company’s 72nd annual general meeting held on August 19, 2026.

The mining firm’s members also adopted the audited standalone and consolidated financial statements for FY26. The resolutions were passed via e-voting, with the promoter group casting votes on nearly all its holdings.

Voting Participation and Results

The scrutinizer’s report, submitted to stock exchanges on August 21, 2026, detailed high engagement from institutional and promoter stakeholders. Remote e-voting was conducted between August 16 and August 18, 2026.

Mohammed Abdul Saleem was re-appointed as a director after retiring by rotation. The resolution received overwhelming support, though it saw slightly higher dissent compared to the financial statement adoptions.

Board Appointments

Shareholders approved the appointment of T. R. Raghunandan as an independent director. This special resolution secured 99.02% approval, with public institutions casting roughly 40% of their polled votes against the measure.

Pankajam Sridevi was appointed as both a director and an independent director. Both ordinary and special resolutions for her appointments passed with over 99.9% support.

What the Numbers Show

The promoter group held 360,776,274 shares as on the record date of August 12, 2026. It voted 360,735,510 shares in favor of every resolution, representing a 99.98% participation rate of its total holding. This indicates that dissenting votes originated almost exclusively from the public non-institutional category, which held approximately 113 million shares but participated with less than 2% of its total voting power.