NSE: MANAKSTEEL · BSE: 539044
MANAKSIA STEELS LTD
Manufactures coated and cold-rolled steel products, operating primarily through an Aluzinc-Coated Steel Line running at roughly 85% capacity utilisation and a Colour-Coating Line of 60,000 MTPA capacity. FY26 standalone revenue stood at ₹1,057.51 crore, with consolidated revenue at ₹1,131.10 crore, driven by higher steel realisations and more than 100% year-on-year volume growth. Earnings come from a single Metals segment, with products sold into steel-consuming customers. Costs are dominated by materials at 82.9% of revenue, with employee costs at 2.3% and other operating expenses at 11.4%. The company is investing ₹100 crore in a new 6Hi Reversible Cold Rolling Mill (250,000 MTPA) at Haldia, slated for Q4 FY27-28, and has subsidiaries including Federated Steel Mills and Far East Steel Industries in Nigeria, alongside Sumo Agrochem. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Metals (coated and cold-rolled steel products) (100%). Asset-heavy, single-segment coated steel manufacturer
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 611 | 742 | 681 | 634 | 1,131 |
| EBITDA (ex other income) | 53 | 24 | 37 | 14 | 77 |
| margin % | 8.7 | 3.2 | 5.5 | 2.2 | 6.8 |
| Owners' profit | 35 | 12 | 28 | 10 | 0 |
| EPS, as reported (₹) | 5.39 | 1.86 | 4.33 | 1.49 | 6.09 |
| ROE % · ROCE % | 13.3 · 18.6 | 4.2 · 7.1 | 9.4 · 14.8 | 3.4 · 6.8 | 12.2 · 20.8 |
| Debt / equity (x) | 0.03 | 0.17 | 0.62 | 0.70 | 0.46 |
| Cash from operations | (1) | 24 | (52) | 14 | 62 |
| Capex | (7) | (8) | (39) | (71) | (37) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 104 | 160 | 204 | 217 | 263 | 318 | 333 | 327 |
| Profit before tax | 2 | 2 | 5 | 9 | 6 | 13 | 26 | 30 |
| Net profit | 1 | 2 | 5 | 6 | 5 | 10 | 19 | 23 |
| EPS (₹) | 0.17 | 0.35 | 0.72 | 0.99 | 0.69 | 1.47 | 2.95 | 3.46 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Board to approve September 2026 results on 14 November | results | low | — | — |
| 9 Oct 2026 · Newspaper Publication About Special Window for Physical Share Dematerialization | compliance | minimal | — | — |
| 8 Oct 2026 · RTA Compliance Certificate for Q2 FY2027 Dematerialization | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1 for Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · Manaksia Steels 25th AGM: all 3 resolutions passed with near-unanimous support | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Manaksia Steels 25th AGM held on Sept 23, 2026; 3 resolutions transacted | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Annual Report web-link letter dispatched to shareholders; 25th AGM on 23 Sep 2026 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Newspaper publication for 25th AGM of Manaksia Steels | compliance | minimal | — | — |
| 27 Aug 2026 · Manaksia Steels files FY26 Annual Report, 25th AGM on Sept 23, 2026 | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Manaksia Steels 25th AGM notice, 23 September 2026 at 3 PM via video conferencing | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.