- Manganese ore production rises 24% y-o-y
- Alloys segment sustains operational momentum
Sandur Manganese and Iron Ores Ltd (SMIORE) reported healthy operational performance in Q1 FY’27, with manganese ore production increasing 24% y-o-y to 0.150 mnt, compared with 0.121 mnt in the corresponding quarter last year. Ore sales nearly doubled to 0.097 mnt from 0.049 mnt, reflecting stronger dispatches during the quarter. Sequentially, however, ore production declined 25% from 0.200 mnt in Q4 FY’26, while sales eased 19% from 0.120 mnt.
Higher output reflects improved operational performance
The increase in ore production on an annual basis highlights improved mining performance and higher operational throughput during the quarter. The sharp rise in sales also indicates stronger market offtake compared with the year-ago period. However, q-o-q volumes moderated following a robust Q4 FY’26, resulting in lower production and dispatches during Q1 FY’27. Despite the sequential decline, the company maintained a significantly stronger operational performance than the corresponding period last year.
Manganese alloys output grows on improved utilisation
The ferro alloys business also posted healthy growth, with manganese alloys production rising 19% y-o-y to 13,130 t, while sales climbed sharply to 16,292 t, against 6,222 t in Q1 FY’26. On a sequential basis, production edged down marginally from 13,371 t in Q4 FY’26, whereas sales declined from 18,241 t, reflecting comparatively lower dispatches after a strong preceding quarter.
Stronger sales outpace production growth
While alloy production registered steady y-o-y growth, sales expanded at a much faster pace, indicating improved inventory liquidation and stronger customer offtake during the quarter. Sequentially, however, both production and sales softened from Q4 FY’26 levels, suggesting a normalisation after an exceptionally strong fourth quarter rather than any change in the company’s underlying operating performance.
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