Manaksia Steels Limited has informed the Exchange regarding Appointment of MRS. NIDHI BAHETI as Independent of the company w.e.f. Jun 16, 2026.
MANAKSTEEL · price
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Awaiting price reaction for this filing.
Manaksia Steels reported strong Q1 FY26 results with standalone revenue from operations rising about 28.6% to Rs 20,098 lakhs and profit after tax nearly tripling to Rs 635 lakhs versus Rs 233 lakhs in Q1 FY25. Consolidated PAT stood at Rs 649 lakhs on revenue of Rs 21,749 lakhs. The board re-appointed Mrs. Nidhi Baheti as Independent Director for another 5-year term effective June 16, 2026, subject to shareholder approval at the 24th AGM scheduled for September 23, 2025. The company also approved adding a second Colour Coating Line at its Haldia unit, doubling capacity to 1,38,000 MTPA at a cost of around Rs 40 crores funded through internal accruals, to be completed by Q4 FY26. Additionally, M/s MKB & Associates was appointed as Secretarial Auditor for a 5-year term, and a new company logo was adopted to mark the growth phase.
Strong Q1 earnings and a Rs 40 crore capacity expansion (almost doubling the Colour Coating Line) signal growth momentum and could be viewed positively by investors. The re-appointment of the existing Independent Director is routine governance and unlikely to move the stock on its own.