Sandur Manganese & Iron Ores Limited has announced its Q3FY26 financial results alongside a major debt restructuring decision. The company's 382nd board meeting held on February 4, 2026, approved both the quarterly results and the early redemption of Non-Convertible Debentures worth ₹423 crore.

Q3FY26 Financial Performance

The company delivered robust top-line growth with revenue from operations reaching ₹48,337 lakh compared to ₹48,167 lakh in the corresponding quarter of the previous year, marking a growth of 26.32%. Net profit for the quarter stood at ₹10,786 lakh, while the nine-month period showed consolidated net profit of ₹34,682 lakh.

Early NCD Redemption Approved

The board approved early redemption of outstanding 45,000 secured Non-Convertible Debentures with face value of ₹94,000 each, aggregating to ₹4,23,00,00,000. These 11% NCDs bearing ISIN 'INE149K07013' were originally scheduled for redemption on September 30, 2031, but will now be redeemed early subject to necessary approvals.

Segment-wise Performance

The mining segment continued to be the primary revenue driver, contributing ₹37,541 lakh in Q3FY26. The ferroalloys segment showed significant improvement with revenue of ₹11,750 lakh compared to ₹202 lakh in the corresponding previous quarter.

Board Meeting and Regulatory Compliance

The 382nd board meeting commenced at 2:00 PM and concluded at 4:00 PM on February 4, 2026. The early redemption decision was made pursuant to Regulation 30 of SEBI LODR Regulations, 2015 and relevant provisions of SEBI regulations for non-convertible securities. The redemption will be carried out in accordance with terms set out in the Key Information Document, General Information Document, and Debenture Trust Deed.

Exceptional Items and Mining Operations

The company reported exceptional items worth ₹1,889 lakh in standalone results and ₹3,227 lakh in consolidated results, primarily due to increased employee benefit liabilities from new Labour Codes notification. Additionally, the company received enhanced Maximum Permissible Annual Production allocation, increasing Manganese Ore production capacity from 0.032 MTPA to 0.049 MTPA for Ramghad mines.

Sandur manganese & iron ores Limited has announced key leadership changes in its Chief Risk Officer position, effective from 14 January 2026. The Board of Directors approved these changes through a Circular Resolution passed on 13 January 2026, following recommendations from the Nomination and Remuneration Committee and Risk Management Committee.

Leadership Transition Details

The company has implemented a strategic leadership restructuring to strengthen its governance framework. The changes involve both the appointment of a new Chief Risk Officer and the transition of responsibilities for the outgoing officer.

New Chief Risk Officer Profile

Manoj Kumar Jha brings extensive experience to his new role as Chief Risk Officer. He is a Chartered Accountant and finance professional with more than three decades of experience across multiple domains.

Professional Expertise

Jha's expertise spans several critical areas including:

• Audit and strategic planning
• Fund raising and restructuring
• Acquisition management
• Cost and risk management
• Taxation and budgeting
• Management Information Systems (MIS)
• Insurance operations

Previous Experience

Prior to joining Sandur Manganese & Iron Ores, Jha held senior positions at prominent organizations. He served as Chief Financial Officer at Tata Africa Holdings SA (TAH), where he was responsible for retail asset financing, including off-balance sheet financing structures and multi-currency exposure solutions.

He also worked with Tata International Limited as Head of Finance for global steel trading operations. His responsibilities included exports from India, manufacturing of bicycles, engineering goods production, and solar projects on EPC model. In this role, he managed acquisitions, internal financial controls, risk management, working capital management, and multi-currency consolidation.

Strategic Rationale

The Board's decision to restructure the Chief Risk Officer position reflects the company's commitment to strengthening its governance framework and leadership structure. Uttam Kumar Bhageria's transition from the Chief Risk Officer role allows him to focus on his multiple responsibilities as Chief Financial Officer across the company and its subsidiaries.

Jha's appointment as Senior Vice President - Business Governance positions him as part of the Senior Management team, indicating the strategic importance of risk management in the company's operations. The timing of these changes demonstrates the company's proactive approach to organizational development and governance enhancement.