Annual Report for the financial year 2025-26

(An ISO 9001:2015; ISO 14001:2015 and ISO 45001:2018 certified company) CIN: L85110KA1954PLC000759; Website: www.sandurgroup.com Email ID: secretarial@sandurgroup.com REGISTERED OFFICE CORPORATE OFFICE ‘SATYALAYA’, No.266 ‘SANDUR HOUSE’, No.9 Ward No.1, Palace Road Bellary Road, Sadashivanagar Sandur – 583 119, Ballari District Bengaluru – 560 080 Karnataka, India Karnataka, India Tel: 08395260300 Tel: 080 4152 0176 - 79 / 4547 3000 SMIORE / SEC / 2026-27 / 29 27 July 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra-Kurla Complex Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 504918 Symbol: SANDUMA Symbol: SANDUMA Dear Sir/ Madam, Sub: Annual Report for the financial year 2025-26 Pursuant to Regulation 34 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Annual Report for financial year 2025-26 along with Notice of 72nd Annual General Meeting and other Statutory Reports of the Company. The same is being sent through electronic mode to those Members whose e-mail addresses are registered with the Company/its Registrar to an Issue and Share Transfer Agent (RTA)/Depository Participants (DPs). Further, in accordance with Regulation 36(1)(b) of SEBI (LODR) Regulations, 2015, the Company is also sending a letter to those shareholders whose e-mail addresses are not registered with Company/RTA/DPs providing the weblink from where the Annual Report can be accessed on the Company’s website. Stock Exchanges are requested to take the same on record. Thank you for The Sandur Manganese & Iron Ores Limited Neha Thomas Company Secretary & Compliance Officer ICSI Membership No. A60853 Encl: A/a MINES OFFICE: Deogiri - 583112, Sandur Taluk, Ballari District; Tel: +91 8395 271028 PLANT OFFICE: Metal & Ferroalloy Plant, Vyasankere, Mariyammanahalli – 583 222, Hosapete Taluk, Vijayanagara District; Tel: +91 8394 294802 / 805 THE SANDUR MANGANESE & ROYAL SANDUR IRON ORES LIMITED GROUP From a Strong Foundation to New Frontiers THE SANDUR MANGANESE & IRON ORES LIMITED ANNUAL REPORT 2025-26 From a Strong Foundation to New Frontiers For close to seven decades, SMIORE has been a focused manganese and iron ore miner, earning its place among India’s leading merchant mining companies. It is only over the past couple of years that this long- standing mining business has transformed into an integrated mines-to- Introducing the metals group, extending across ferroalloys, coke & energy and, with the Royal Sandur Group latest addition of Arjas Steel, specialty & alloy steel. That transformation is now largely complete, and it forms the foundation on which the next As operations have grown across mining, ferroalloys, coke & energy and steel, so chapter is built. has the case for a single identity that brings these businesses together. With a view FY26, the first full year of consolidated operations, has firmed up that to supporting the Company’s long-term base. Mining volumes reached record levels across both manganese strategic vision, and to enable it to explore ore and iron ore, while the ancillary segments returned to steadier diverse business opportunities, strengthen footing. At the standalone level, the Company achieved a net debt-free its market presence, sustain growth, and position, supported by internal accruals from its core business and the address its evolving business model and areas of operations, the Company has prepayment and redemption of its Non-Convertible Debentures (NCDs), adopted a unified Group name ‘Royal ahead of their maturity date. This financial discipline was also reflected Sandur’ and its logo. in a credit rating outlook revised to Positive, and in the Company’s entry The name carries forward the Company’s into the country’s 500 largest listed companies by market capitalisation royal heritage and its enduring bond in October 2025. with Sandur, built over seven decades of enterprise. Under this unified banner, Consolidation over the last two years has given way to stability, and each business segment retains its own stability now allows the Company to look outward. With a stronger focus while contributing to one corporate financial position and a proven ability to execute, SMIORE is entering a identity, presenting the organisation to customers, investors and communities as a phase of expansion, evaluating opportunities across its business verticals single, integrated group rather than a set and new ones, to carry the Group into its next orbit of growth. of separate businesses. The frontiers ahead will be approached with the same discipline that built the foundation: deliberate capital allocation, responsible growth, and a steady focus on creating durable value for all stakeholders. STRATEGIC REVIEW STATUTORY REPORTS SECTION 1: EXECUTIVE SECTION 2: SMIORE: PROFILE, LEGACY, SECTION 4: OUR COMMITMENT MANAGEMENT DISCUSSION PERFORMANCE SUMMARY AND EVOLUTION BEYOND BUSINESS AND ANALYSIS 66 Scale. Strength. Sustained performance. A legacy reimagined. Driving impact beyond responsibility. CORPORATE INFORMATION 80 06 22 48 NOTICE 81 FY26 PERFORMANCE SNAPSHOT AN OVERVIEW OF SMIORE DEEPENING ESG LEADERSHIP ACROSS BOARD’S REPORT 99 Operational and financial highlights of More than seven decades since its founding THE BUSINESS the year, including all-time-high mining in 1954, SMIORE has grown into a fully A structured, stakeholder-led approach CORPORATE volumes and the first full-year contribution integrated metals and mining enterprise, to embedding Environmental, Social and GOVERNANCE REPORT 135 from Arjas Steel. guided by its core values and responsible Governance (ESG) principles across the mining practices. business. BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT 163 26 50 LEGACY DRIVING ENVIRONMENTAL STEWARDSHIP Tracing SMIORE’s heritage and the SMIORE’s work across reclamation, milestones that have shaped its standing biodiversity, water stewardship and the across the mining and metals industries. transition to renewable energy to preserve FINANCIAL STATEMENTS natural capital. 32 INDEPENDENT 56 AUDITOR’S REPORT 204 SMIORE’S EVOLUTION JOURNEY How SMIORE has expanded beyond EMPOWERING OUR PEOPLE AND STANDALONE its mining roots into ferroalloys, coke & THE SOCIETY FINANCIAL STATEMENTS 215 energy and steel building a diversified and A focus on employee well-being, health vertically integrated enterprise. and safety, and community development INDEPENDENT across education, healthcare and rural AUDITOR’S REPORT 276 10 development. CONSOLIDATED CHAIRMAN’S ADDRESS FINANCIAL STATEMENTS 283 Reflections on a defining year and the Company’s path forward. SECTION 3: STRENGTHENING MANAGING DIRECTOR’S LETTER BUSINESS PROFILE Delivering growth today, building for tomorrow. Building strength through excellence. Forward Looking Statement This document contains statements about anticipated 36 future events, financial outlook and operational outcomes of The Sandur Manganese & Iron Ores Limited KEY PERFORMANCE INDICATORS BUSINESSES (hereafter referred to ‘SMIORE’ or ‘the Company’), A five-year view of financial performance, A review of FY26 performance across the which are forward-looking. By their very nature, led by the mining segment, the full-year forward-looking statements require the Company to manganese ore, iron ore, ferroalloys and consolidation of Arjas Steel and a turnaround make assumptions and are subject to inherent risks coke & energy segments. and uncertainties. Accordingly, there is a significant in ferroalloys and coke & energy. risk that the assumptions, predictions, and other such statements may not prove to be accurate. As readers, it is prudent not to overly rely on these forward-looking 18 42 statements, considering that numerous factors could potentially lead to significant deviations between SMIORE’S INVESTMENT CASE INTEGRATION OF ARJAS STEEL the assumed outcomes and the actual [Showing first 8,000 characters — download PDF for full document]