Wholly owned subsidiary declared preferred bidder for Avagudem expired manganese ore block

Sarda Metals & Alloys Ltd — a wholly owned subsidiary — has been declared preferred bidder for the Avagudem Expired Manganese Mining Lease Block in Dist.

Sat 10 Oct 2026

Estimated Geological Reserves

0.70 million tons of Manganese Ore

Mining Block Location

Avagudem Expired Manganese Mining Lease Block, Dist. Vizianagaram, Andhra Pradesh

Bidder Status

Declared preferred bidder (wholly owned subsidiary Sarda Metals & Alloys Ltd)

What was announced

Sarda Metals & Alloys Limited, a wholly owned subsidiary of the company, has been declared as preferred bidder for the Avagudem Expired Manganese Mining Lease Block in Dist. Vizianagaram, Andhra Pradesh.

The term used in the update

• "Declared as preferred bidder" is the status the company has stated for its subsidiary in this mining lease block.
• The block is described as an expired manganese mining lease block.

Reserves stated

• The mine has estimated total geological reserves of 0.70 million tons of Manganese Ore.
• This is described as an estimate of total geological reserves, as stated in the update.

Why the subsidiary matters

• Sarda Metals & Alloys Limited is described as a wholly owned subsidiary of the company, so the development relates to a business that sits fully within the group.
• The announcement concerns a manganese ore block, which is relevant to the group's metals and mining operations.

How to read this

• The update communicates a bidder status for the block and the estimated reserves of the mine.
• The reserves figure is a geological estimate expressed in million tons, and is the key quantitative detail shared in this update.

The company has requested the exchanges to take the information on record.

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