Manaksia Steels Ltd.
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ABOUT
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
- Latest quarter profit grew 249.2% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 17.5% CAGR over last 5 years
- Working capital cycle has improved - days down from 69 to 42
- Attractively priced for its growth - PEG of 0.3
- Company maintains a comfortable, low leverage position
CONS
- Company has a low return on capital employed of 9.9%
- Company has a low return on equity of 8.6% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.29x)
- Recurring exceptional / one-off items are inflating headline profit
- Company has delivered a poor profit growth of 8.5% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1300.50 | 12.83 | 318031.29 | 0.55 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 184.10 | 20.83 | 229820.42 | 2.17 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 186.50 | 18.03 | 77034.30 | 1.26 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2598.50 | 29.68 | 68546.00 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 738.50 | 18.74 | 60883.39 | 0.54 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2182.55 | 49.31 | 60600.34 | 0.39 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1081.80 | 26.89 | 30196.48 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| JINDALSAW | 307.35 | 30.08 | 19655.29 | 0.65 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2802.95 | 45.38 | 19646.44 | 0.36 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 519.85 | 16.21 | 18318.54 | 0.38 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 245.15 | 20.46 | 16504.45 | 0.41 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| MANAKSTEEL | 105.63 | 12.34 | 692.24 | 0.00 | 226.46 | 3391.52 | 3274.88 | 1405.75 | 14.48 | 10.24 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 218 | 166 | 134 | 163 | 165 | 104 | 160 | 204 | 217 | 263 | 318 | 333 | 327 | |
| 205 | 157 | 127 | 155 | 162 | 108 | 155 | 195 | 207 | 250 | 302 | 295 | 301 | |
| Operating Profit | 13 | 10 | 6 | 8 | 3 | -3 | 6 | 9 | 11 | 12 | 15 | 38 | 27 |
| OPM % | 6.16% | 5.89% | 4.64% | 4.92% | 1.88% | -2.97% | 3.62% | 4.39% | 4.94% | 4.73% | 4.85% | 11.40% | 8.19% |
| 3 | 5 | 6 | 3 | 3 | 8 | -0 | 1 | 3 | 1 | 3 | -2 | 4 | |
| Interest | 1 | 1 | 3 | 4 | 2 | 1 | 2 | 3 | 3 | 4 | 2 | 7 | 4 |
| Depreciation | 2 | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Profit before Tax | 13 | 12 | 7 | 6 | 3 | 2 | 2 | 5 | 9 | 6 | 13 | 26 | 30 |
| Tax % | 24.78% | 24.47% | 30.89% | 19.18% | 51.05% | 35.50% | -10.00% | 3.48% | 24.71% | 30.62% | 24.03% | 26.82% | 25.73% |
| Net Profit | 0 | 0 | 0 | 0 | 2 | 1 | 2 | 5 | 6 | 5 | 10 | 19 | 23 |
| 1.55 | 1.36 | 0.73 | 0.69 | 0.25 | 0.17 | 0.35 | 0.72 | 0.99 | 0.69 | 1.47 | 2.95 | 3.46 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 503 | 688 | 536 | 504 | 611 | 742 | 681 | 634 | 1,131 | 1,241 | |
| 473 | 668 | 520 | 465 | 558 | 718 | 644 | 619 | 1,055 | 1,148 | |
| Operating Profit | 31 | 19 | 16 | 39 | 53 | 24 | 37 | 15 | 77 | 93 |
| OPM % | 6.10% | 2.83% | 3.01% | 7.79% | 8.70% | 3.24% | 5.50% | 2.33% | 6.77% | 7.46% |
| 3 | 5 | 6 | 7 | 8 | 7 | 16 | 12 | 4 | 5 | |
| Interest | 4 | 3 | 2 | 2 | 2 | 4 | 8 | 8 | 16 | 17 |
| Depreciation | 8 | 6 | 9 | 10 | 11 | 10 | 7 | 6 | 11 | 12 |
| Profit before Tax | 22 | 16 | 11 | 34 | 49 | 17 | 38 | 12 | 54 | 76 |
| Tax % | 29.87% | 47.87% | 18.34% | 22.85% | 27.83% | 28.77% | 24.96% | 18.75% | 26.29% | 26.24% |
| Net Profit | 16 | 8 | 9 | 27 | 35 | 12 | 28 | 10 | 40 | 56 |
| EPS | 2.38 | 0.00 | 0.00 | 4.05 | 5.39 | 1.86 | 4.33 | 1.49 | 6.09 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 18%
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 9%
- 3 Years:
- 49%
STOCK PRICE CAGR
- 10 Years:
- 28%
- 5 Years:
- 25%
- 3 Years:
- 29%
- 1 Year:
- 83%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 9%
- 3 Years:
- 9%
- Last Year:
- 13%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 7 |
| 169 | 179 | 185 | 216 | 259 | 284 | 294 | 283 | 319 | |
| 96 | 3 | 60 | 67 | 9 | 48 | 185 | 205 | 151 | |
| Trade Payables | 84 | 131 | 130 | 10 | 13 | 15 | 10 | 21 | 54 |
| 20 | 16 | 21 | 48 | 62 | 66 | 24 | 21 | 62 | |
| Total Liabilities | 375 | 335 | 403 | 348 | 350 | 420 | 520 | 537 | 593 |
| 69 | 75 | 99 | 88 | 77 | 72 | 59 | 62 | 152 | |
| Capital Work in Progress | 6 | 28 | 3 | 0 | 5 | 7 | 32 | 93 | 33 |
| 7 | 17 | 11 | 25 | 52 | 129 | 185 | 129 | 86 | |
| 132 | 90 | 139 | 86 | 105 | 126 | 140 | 136 | 155 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 26 | 38 | 64 | |
| Cash & Bank | 36 | 20 | 44 | 17 | 18 | 29 | 29 | 10 | 5 |
| 127 | 106 | 107 | 132 | 93 | 57 | 48 | 69 | 98 | |
| Total Assets | 375 | 335 | 403 | 348 | 350 | 420 | 520 | 537 | 593 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 4 | 138 | 1 | 42 | 11 | 28 | -52 | 14 | 62 | |
| Cash from Investing | -23 | -36 | -30 | -71 | 57 | -65 | -84 | -21 | 3 |
| Cash from Financing | 34 | -96 | 53 | 5 | -59 | 35 | 130 | 9 | -70 |
| 1 | -2 | 20 | -30 | -3 | -5 | -7 | 2 | -6 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 Steels Limited has informed the Exchange about Letter sent to the Shareholders for Annual Report Web-Link
2026-08-28 - Manaksia Steels Limited has informed the Exchange about Copy of Newspaper Publication regarding 25th Annual General Meeting of the Company
2026-08-27 - Manaksia Steels Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026
2026-08-21 - Manaksia Steels Limited has informed the Exchange about updates on Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-12 - Manaksia Steels Limited has informed the Exchange about Copy of Newspaper Publication of Un-audited Financial Results of the Company for the quarter ended 30th June, 2026
2026-08-11 - Manaksia Steels Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-11 - Manaksia Steels Limited has informed the Exchange about Copy of Newspaper Publication relating to 25th Annual General Meeting of the Company scheduled to be held on 23rd September, 2026
2026-08-11 - Manaksia Steels Limited has informed the Exchange about Copy of Newspaper Publication regarding Special Window for Transfer and Dematerialization of Physical Securities
2026-08-10 - Manaksia Steels Limited has informed the Exchange about Key Financial Highlights on the Un-audited Financial Results for the Q1 FY 2027
News
Recent coverage and analyst commentary for MANAKSTEEL
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Manaksia Steels Ltd.
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