Manaksia Steels Limited has informed the Exchange regarding Change in Auditors of the company.
MANAKSTEEL · price
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Manaksia Steels reported strong Q1 FY26 results with standalone revenue from operations of Rs 20,097.78 lakhs (up ~29% YoY from Rs 15,630.66 lakhs) and standalone PAT of Rs 634.71 lakhs (up ~173% YoY from Rs 232.59 lakhs). Consolidated PAT jumped to Rs 648.59 lakhs from Rs 162.97 lakhs last year. The company commissioned a new Aluzinc Coated Steel Line on June 10, 2025. The board approved adding a second Colour Coating Line at Haldia, increasing capacity by 90,000 MTPA to 1,38,000 MTPA, requiring an investment of about Rs 40 crore funded through internal accruals, targeted by Q4 FY26. Mrs. Nidhi Baheti was re-appointed as Independent Director for another 5-year term from June 16, 2026, and M/s MKB & Associates were appointed as Secretarial Auditors for 5 years (FY26-FY30). The 24th AGM is scheduled for September 23, 2025.
Strong revenue and profit growth, a new revenue stream from the Aluzinc line, and the proposed colour coating capacity expansion signal a growth phase. The capacity addition is modest in cost (Rs 40 cr) and internally funded, so it should support earnings without straining the balance sheet. Re-appointments and a new secretarial auditor are routine governance matters with no negative implications for shareholders.