Manaksia Coated Metals & Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • Metal Products: 91.1% • Mosquito Coil: 8.9%
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company has delivered good profit growth of 44.7% CAGR over last 5 years
- Operating margins have improved to 9.1% from 5.8%
- Company generates healthy free cash flow
- Attractively priced for its growth - PEG of 0.3
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.59x)
- Equity base is being diluted - shares outstanding up 61.5%
- Working capital days have increased from 55 to 95 days
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1267.50 | 12.51 | 309961.29 | 0.56 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 182.85 | 20.69 | 228259.99 | 2.19 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 179.00 | 17.31 | 73936.40 | 1.31 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2676.25 | 30.57 | 70596.97 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 755.20 | 19.16 | 62260.17 | 0.53 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2153.00 | 48.64 | 59779.85 | 0.39 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1074.35 | 26.70 | 29988.53 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| JINDALSAW | 311.85 | 30.52 | 19943.06 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2808.15 | 45.47 | 19682.88 | 0.36 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 524.75 | 16.37 | 18491.21 | 0.38 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 244.50 | 20.41 | 16460.69 | 0.41 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| MANAKCOAT | 128.70 | 33.65 | 1372.38 | 0.04 | 141.00 | 906.71 | 2621.41 | 949.40 | 19.52 | 10.74 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 172 | 194 | 191 | 183 | 194 | 175 | 205 | 208 | 250 | 220 | 187 | 227 | 262 | |
| 164 | 182 | 180 | 167 | 181 | 164 | 191 | 193 | 225 | 194 | 171 | 213 | 244 | |
| Operating Profit | 7 | 12 | 11 | 15 | 13 | 11 | 14 | 15 | 25 | 26 | 16 | 14 | 18 |
| OPM % | 4.36% | 6.40% | 5.70% | 8.44% | 6.81% | 6.25% | 7.06% | 7.30% | 9.82% | 11.85% | 8.29% | 6.31% | 6.90% |
| 4 | 1 | 3 | 2 | 2 | 3 | 3 | 2 | 4 | 3 | 3 | 1 | 1 | |
| Interest | 9 | 10 | 6 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 7 | 7 | 7 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 |
| Profit before Tax | 1 | 2 | 6 | 7 | 4 | 3 | 7 | 7 | 19 | 19 | 10 | 6 | 19 |
| Tax % | 73.61% | -1.95% | 25.27% | 25.53% | 25.43% | 24.30% | 25.11% | 24.93% | 24.96% | 26.51% | 23.61% | 15.66% | 25.42% |
| Net Profit | 0 | 2 | 4 | 5 | 3 | 2 | 5 | 5 | 14 | 14 | 7 | 5 | 14 |
| 0.03 | 0.32 | 0.63 | 0.78 | 0.41 | 0.33 | 0.68 | 0.69 | 1.49 | 1.40 | 0.73 | 0.57 | 1.34 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 255 | 229 | 251 | 246 | 446 | 648 | 652 | 740 | 782 | 884 | 897 | |
| 242 | 214 | 228 | 219 | 412 | 613 | 619 | 689 | 728 | 804 | 823 | |
| Operating Profit | 13 | 15 | 23 | 27 | 33 | 35 | 33 | 51 | 54 | 80 | 74 |
| OPM % | 5.18% | 6.70% | 9.13% | 10.87% | 7.50% | 5.39% | 5.04% | 6.86% | 6.88% | 9.10% | 8.26% |
| 2 | 3 | 3 | 2 | 2 | 8 | 5 | 6 | 9 | 12 | 8 | |
| Interest | 4 | 5 | 14 | 17 | 19 | 23 | 22 | 33 | 33 | 29 | 28 |
| Depreciation | 8 | 8 | 10 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 |
| Profit before Tax | 3 | 5 | 3 | 3 | 8 | 12 | 7 | 15 | 21 | 54 | 54 |
| Tax % | 89.12% | 42.38% | 90.31% | -69.20% | 20.43% | 23.71% | 32.41% | 23.99% | 24.97% | 24.16% | 24.32% |
| Net Profit | 0 | 3 | 0 | 5 | 6 | 9 | 5 | 12 | 16 | 41 | 41 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.98 | 1.37 | 0.77 | 1.57 | 1.97 | 3.87 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 3.05% | 0.00% | 3.92% | 3.19% | 2.54% | 1.29% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 15%
- 3 Years:
- 11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 30%
- 5 Years:
- 45%
- 3 Years:
- 101%
STOCK PRICE CAGR
- 10 Years:
- 34%
- 5 Years:
- 60%
- 3 Years:
- 75%
- 1 Year:
- -11%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 9%
- 3 Years:
- 11%
- Last Year:
- 15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 11 |
| 80 | 83 | 83 | 88 | 94 | 103 | 108 | 135 | 183 | 328 | |
| 77 | 146 | 158 | 171 | 180 | 194 | 193 | 178 | 137 | 118 | |
| Trade Payables | 45 | 45 | 70 | 87 | 114 | 137 | 195 | 164 | 238 | 239 |
| 20 | 20 | 28 | 22 | 36 | 37 | 39 | 47 | 73 | 51 | |
| Total Liabilities | 229 | 300 | 346 | 373 | 432 | 478 | 541 | 531 | 640 | 747 |
| 96 | 152 | 144 | 140 | 132 | 127 | 119 | 117 | 111 | 167 | |
| Capital Work in Progress | 35 | 4 | 47 | 45 | 51 | 40 | 49 | 49 | 68 | 31 |
| 0 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |
| 30 | 50 | 87 | 123 | 152 | 200 | 254 | 231 | 287 | 339 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 54 | 50 | 97 | |
| Cash & Bank | 1 | 9 | 5 | 10 | 15 | 23 | 20 | 22 | 25 | 34 |
| 68 | 75 | 54 | 46 | 73 | 77 | 89 | 48 | 89 | 70 | |
| Total Assets | 229 | 300 | 346 | 373 | 432 | 478 | 541 | 531 | 640 | 747 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 22 | -7 | 52 | 8 | 20 | -12 | 11 | 22 | 30 | -12 | |
| Cash from Investing | -24 | -41 | -46 | -1 | -6 | 9 | -8 | -6 | -20 | -17 |
| Cash from Financing | 3 | 56 | -12 | -6 | -13 | 5 | -4 | -16 | -10 | 30 |
| -1 | 7 | -7 | 0 | 2 | 2 | -4 | -0 | -0 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Manaksia Coated Metals & Industries Limited has informed the Exchange about Shareholders meeting
2026-09-03 - Manaksia Coated Metals & Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 03, 2026
2026-08-13 - Manaksia Coated Metals & Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Manaksia Coated Metals & Industries Limited has informed the Exchange about General Updates
2026-08-12 - Manaksia Coated Metals & Industries Limited has informed the Exchange about General Updates
2026-08-12 - Manaksia Coated Metals & Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 03, 2026
2026-08-07 - Manaksia Coated Metals & Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-04 - Manaksia Coated Metals & Industries Limited has informed the Exchange about Forfeiture
2026-07-28 - Manaksia Coated Metals & Industries Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for MANAKCOAT
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Manaksia Coated Metals & Industries Ltd.
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