Manaksia Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Metal Products: 88.5% • Packaging Products: 11.4% • Others: 0.1%
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 73.4% YoY, showing strong momentum
- Company generates healthy free cash flow
- Company comfortably covers its interest (8.3x coverage)
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (64.1% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.36x)
- Company has a low return on equity of 9.9% over last 3 years
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 2936.00 | 53.39 | 397452.96 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| PREMIERENE | 998.00 | 27.21 | 45304.36 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| AEGISLOG | 1270.55 | 35.64 | 44596.31 | 0.68 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3705.90 | 91.86 | 43840.96 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| REDINGTON | 371.40 | 17.07 | 29035.10 | 1.62 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.75 | 61.67 | 15347.59 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 8.99 | 14.58 |
| LLOYDSENT | 74.20 | 100.87 | 11327.02 | 0.20 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 826.10 | 83.74 | 10411.77 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 64.18 | 21.52 | 9627.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1827.20 | 63.41 | 7952.54 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| CELLO | 342.50 | 24.69 | 7724.69 | 0.44 | 73.40 | -8.99 | 526.72 | -0.43 | 17.15 | 18.80 |
| MANAKSIA | 63.19 | 6.59 | 414.11 | 0.00 | 26.68 | 73.37 | 222.76 | 28.47 | 15.78 | 7.32 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 236 | 199 | 152 | 115 | 105 | 169 | 188 | 269 | 173 | 190 | 184 | 237 | 223 | |
| 206 | 173 | 131 | 95 | 91 | 161 | 171 | 254 | 163 | 183 | 177 | 219 | 209 | |
| Operating Profit | 30 | 25 | 21 | 19 | 14 | 9 | 17 | 15 | 10 | 7 | 7 | 17 | 14 |
| OPM % | 12.59% | 12.78% | 13.98% | 16.95% | 13.41% | 5.19% | 8.87% | 5.44% | 5.73% | 3.68% | 3.74% | 7.38% | 6.38% |
| 7 | 15 | 10 | -2 | 17 | 17 | 8 | 6 | 14 | 11 | 17 | -3 | 23 | |
| Interest | 2 | 4 | 4 | 3 | 2 | 3 | 5 | 1 | 1 | 1 | 2 | 1 | 1 |
| Depreciation | 3 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
| Profit before Tax | 32 | 34 | 25 | 13 | 28 | 21 | 18 | 17 | 22 | 15 | 21 | 13 | 37 |
| Tax % | 30.43% | 29.99% | 30.92% | -18.59% | 33.11% | 28.60% | 29.48% | 34.36% | 28.75% | 32.06% | 29.86% | 2.87% | 27.56% |
| Net Profit | 0 | 0 | 0 | 0 | 19 | 15 | 13 | 11 | 15 | 10 | 15 | 12 | 27 |
| 3.36 | 3.52 | 2.49 | 2.16 | 2.60 | 2.23 | 1.95 | 1.76 | 2.29 | 1.68 | 2.22 | 1.80 | 3.89 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,099 | 1,041 | 986 | 990 | 856 | 861 | 1,174 | 1,165 | 702 | 731 | 833 | |
| 918 | 865 | 895 | 906 | 784 | 760 | 946 | 1,019 | 606 | 677 | 788 | |
| Operating Profit | 181 | 176 | 92 | 85 | 72 | 101 | 228 | 146 | 96 | 54 | 46 |
| OPM % | 16.47% | 16.94% | 9.28% | 8.54% | 8.43% | 11.73% | 19.42% | 12.55% | 13.66% | 7.41% | 5.47% |
| 4 | 5 | 96 | 66 | 63 | 33 | 60 | 77 | 30 | 48 | 47 | |
| Interest | 21 | 17 | 18 | 10 | 6 | 6 | 10 | 15 | 12 | 12 | 4 |
| Depreciation | 60 | 48 | 44 | 44 | 42 | 32 | 25 | 21 | 9 | 6 | 5 |
| Profit before Tax | 104 | 116 | 126 | 97 | 88 | 96 | 254 | 187 | 104 | 85 | 86 |
| Tax % | 9.74% | 12.93% | 23.62% | 22.41% | 30.35% | 32.74% | 26.71% | 42.47% | 24.40% | 31.45% | 25.23% |
| Net Profit | 94 | 101 | 96 | 75 | 61 | 65 | 186 | 108 | 79 | 58 | 64 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 8.94 | 9.10 | 27.93 | 16.30 | 11.53 | 8.54 | — |
| Dividend Payout % | 14.06% | 0.00% | 20.72% | 26.89% | 117.42% | 32.97% | 0.00% | 36.81% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -4%
- 5 Years:
- -3%
- 3 Years:
- -15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -6%
- 5 Years:
- -1%
- 3 Years:
- -33%
STOCK PRICE CAGR
- 10 Years:
- 2%
- 5 Years:
- -1%
- 3 Years:
- -26%
- 1 Year:
- -10%
RETURN ON EQUITY
- 10 Years:
- 10%
- 5 Years:
- 11%
- 3 Years:
- 10%
- Last Year:
- 10%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Minority Interest | 11 | 11 | 13 | 14 | 17 | 22 | 25 | 26 | 29 | 23 |
| 1,193 | 804 | 976 | 1,040 | 946 | 943 | 1,049 | 1,111 | 537 | 559 | |
| 141 | 188 | 39 | 35 | 13 | 52 | 114 | 58 | 74 | 26 | |
| Trade Payables | 53 | 178 | 63 | 86 | 75 | 59 | 34 | 35 | 22 | 52 |
| 30 | 71 | 90 | 80 | 64 | 83 | 139 | 149 | 46 | 41 | |
| Total Liabilities | 1,441 | 1,266 | 1,194 | 1,269 | 1,128 | 1,172 | 1,374 | 1,393 | 722 | 714 |
| 346 | 249 | 310 | 265 | 209 | 173 | 141 | 129 | 48 | 48 | |
| Capital Work in Progress | 161 | 19 | 10 | 4 | 4 | 3 | 4 | 3 | 0 | 6 |
| 5 | 24 | 346 | 415 | 238 | 583 | 630 | 671 | 426 | 111 | |
| 195 | 133 | 140 | 179 | 159 | 129 | 152 | 70 | 67 | 95 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50 | 66 | |
| Cash & Bank | 105 | 354 | 144 | 120 | 167 | 120 | 258 | 280 | 85 | 249 |
| 628 | 486 | 243 | 287 | 351 | 163 | 188 | 241 | 46 | 140 | |
| Total Assets | 1,441 | 1,266 | 1,194 | 1,269 | 1,128 | 1,172 | 1,374 | 1,393 | 722 | 714 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 267 | 491 | 299 | 14 | -7 | 296 | 170 | 130 | 135 | -275 | |
| Cash from Investing | -92 | -33 | -335 | -18 | 243 | -302 | 7 | 15 | 323 | 358 |
| Cash from Financing | -121 | 53 | -188 | -33 | -97 | 33 | 32 | -91 | -16 | -68 |
| 49 | 501 | -244 | -56 | 109 | 9 | 179 | -23 | 441 | 14 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 14.23 | 15.35 | 14.48 | 11.16 | 8.94 | 9.10 | 27.93 | 16.30 | 11.53 | 8.54 |
| Book Value (₹) | 183.98 | 124.63 | 151.01 | 160.65 | 146.35 | 145.90 | 162.00 | 171.58 | 83.98 | 87.31 |
| Dividend per Share (₹) | 2.00 | 0.00 | 3.00 | 3.00 | 10.50 | 3.00 | 0.00 | 6.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 23.43 | 22.76 | 21.38 | 18.15 | 15.69 | 14.70 | 32.19 | 19.61 | 13.44 | 9.71 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 16.60% | 17.21% | 18.94% | 15.23% | 15.82% | 15.52% | 24.57% | 19.18% | 13.66% | 7.41% |
| Net Margin % | 8.42% | 9.60% | 9.70% | 7.58% | 7.13% | 7.50% | 15.86% | 9.25% | 11.22% | 7.95% |
| ROE % | 8.16% | 10.00% | 10.64% | 7.35% | 6.07% | 6.75% | 18.46% | 9.86% | 9.40% | 10.36% |
| ROCE % | 9.41% | 11.25% | 13.90% | 9.99% | 9.05% | 10.30% | 24.16% | 17.20% | 12.88% | 15.78% |
| 6.57% | 7.48% | 7.81% | 6.10% | 5.09% | 5.62% | 14.63% | 7.79% | 7.44% | 8.10% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 28 | 46 | 46 | 31 | 36 | 27 | 22 | 36 | 50 | 29 |
| Inventory Days | 90 | 57 | 50 | 59 | 72 | 61 | 44 | 35 | 36 | 40 |
| Payable Days | 29 | 66 | 61 | 38 | 48 | 42 | 23 | 16 | 21 | 24 |
| 89 | 36 | 36 | 52 | 61 | 47 | 43 | 55 | 65 | 46 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.12x | 0.25x | 0.05x | 0.04x | 0.01x | 0.05x | 0.11x | 0.05x | 0.13x | 0.05x |
| Interest Coverage (x) | 5.90x | 7.77x | 8.12x | 10.49x | 15.61x | 17.31x | 27.17x | 13.17x | 9.47x | 8.27x |
| 5.21x | 2.53x | 6.05x | 6.06x | 8.10x | 6.25x | 4.74x | 5.88x | 4.90x | 6.29x | |
| GROWTH | ||||||||||
| Revenue Growth % | -2.54% | -5.30% | -5.23% | 0.40% | -13.55% | 0.58% | 36.36% | -0.74% | -39.81% | 4.21% |
| Operating Profit Growth % | -9.46% | -1.93% | 3.41% | -19.59% | -10.18% | -1.30% | 115.85% | -22.53% | -28.89% | -31.74% |
| Net Profit Growth % | -9.74% | 7.93% | -5.01% | -21.90% | -18.66% | 5.84% | 188.21% | -42.12% | -26.98% | -26.15% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -29.27% | -25.91% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 8.51x | 6.83x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.17x | 0.67x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 3.98x | 1.47x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Manaksia Limited has informed the Exchange about Letters sent to shareholders for Annual Report Web-Link
2026-08-28 - Manaksia Limited has informed the Exchange about Copy of Newspaper Publication regarding 42nd Annual General Meeting of the Company
2026-08-27 - Manaksia Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026
2026-08-13 - Manaksia Limited has informed the Exchange about Newspaper Publication relating to e-voting and other information relating to ensuing 42nd Annual General Meeting
2026-08-13 - Manaksia Limited has informed the Exchange about Newspaper Publication of Financial Results for the quarter ended 30th June, 2026
2026-08-12 - Manaksia Limited has informed the Exchange that Record date for the purpose of Annual General Meeting is 16-Sep-2026.
2026-08-12 - Manaksia Limited has informed the Exchange that 42nd Annual General Meeting of the Members of the Company will be held on Wednesday, 23rd September, 2026 through VC/OAVM.
2026-08-12 - Manaksia Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11 - Manaksia Limited has informed the Exchange about Copy of Newspaper Publication regarding opening of special window for transfer and dematerialization of physical securities
News
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