M/s. JMNR & Associates has been appointed as Internal Auditors of the Company for the FY 2026-27

MANAKSTEEL · price

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+9.6%1-day move

₹66.00

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₹68.92

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AI summary

Manaksia Steels Board meeting on May 22, 2026 approved audited financial results for FY 2025-26. Standalone revenue grew 80% to Rs. 10,532 lakhs from Rs. 5,842 lakhs, while standalone profit after tax tripled to Rs. 382 lakhs from Rs. 117 lakhs. Consolidated PAT stood at Rs. 399 lakhs versus Rs. 97 lakhs in the previous year. The Board appointed M/s. JMNR & Associates as Internal Auditors for FY 2026-27 and re-appointed M/s. B. Mukhopadhyay & Co. as Cost Auditors for the same period. Statutory auditors S K Agrawal & Co. issued an unmodified opinion on both standalone and consolidated results. The company has three foreign subsidiaries in Nigeria.

Likely market impact

Strong financial performance with profit tripling indicates improved operational efficiency. Appointment of new internal auditors for the new financial year appears routine with no adverse implications. Positive earnings trajectory could support the stock price.