Outcome of Board Meeeting
MANAKSIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved the unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025), along with the limited review report from statutory auditors S K Agrawal & Co. Consolidated revenue rose to about Rs. 10,512.61 lakhs from Rs. 9,366.93 lakhs in Q1 FY25, a growth of roughly 12% year-on-year. Standalone revenue fell sharply to about Rs. 1,244 lakhs from Rs. 3,122 lakhs, mainly because the metal products business is being demerged into wholly owned subsidiary Manaksia Ferro Industries Limited and is excluded from the standalone numbers. The Board noted that the Demerger Scheme has been cleared by BSE, NSE and SEBI and will now go to the NCLT for approval. The 41st AGM was fixed for September 23, 2025 via video conferencing, with September 16, 2025 as the e-voting cut-off date. The Board also appointed MKB & Associates as Secretarial Auditor for a five-year term (FY26 to FY30). The consolidated results for FY25 had flagged an exceptional loss from foreign exchange impact due to devaluation of the Nigerian currency in the Group's Nigeria-based subsidiary.
Shareholders should watch the NCLT approval timeline for the metal business demerger, as completion will reshape the standalone and consolidated structure. Consolidated topline growth is a positive signal, while the Nigerian FX exposure remains a risk for the overseas subsidiary's earnings.