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 252.4% YoY, showing strong momentum
- Company has delivered good sales growth of 22.1% CAGR over last 5 years
- Operating margins have improved to 6.9% from 3.8%
- Working capital cycle has improved - days down from 76 to 44
- 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 9.6%
- 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 0.32x)
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* 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 |
| MANAKSTEEL | 117.07 | 13.68 | 767.21 | 0.00 | 226.46 | 3391.52 | 3274.88 | 1405.75 | 14.48 | 10.24 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 206 | 155 | 119 | 153 | 156 | 95 | 142 | 190 | 201 | 244 | 298 | 310 | 302 | |
| 194 | 146 | 114 | 146 | 154 | 99 | 137 | 182 | 191 | 233 | 284 | 274 | 276 | |
| Operating Profit | 12 | 8 | 5 | 7 | 3 | -3 | 5 | 8 | 10 | 11 | 14 | 37 | 26 |
| OPM % | 5.79% | 5.45% | 4.41% | 4.50% | 1.66% | -3.64% | 3.68% | 4.05% | 5.00% | 4.57% | 4.85% | 11.80% | 8.75% |
| 3 | 4 | 6 | 4 | 4 | 9 | 0 | 1 | 3 | 1 | 3 | -2 | 4 | |
| Interest | 1 | 0 | 3 | 4 | 2 | 1 | 2 | 3 | 3 | 4 | 2 | 7 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 |
| Profit before Tax | 13 | 11 | 8 | 7 | 4 | 3 | 2 | 4 | 8 | 6 | 12 | 25 | 30 |
| Tax % | 23.54% | 23.13% | 20.70% | 20.24% | 37.03% | 21.71% | -50.00% | -5.34% | 23.43% | 28.52% | 24.59% | 26.51% | 25.71% |
| Net Profit | 10 | 9 | 6 | 5 | 2 | 2 | 3 | 4 | 6 | 4 | 9 | 19 | 22 |
| 1.56 | 1.32 | 0.94 | 0.80 | 0.35 | 0.36 | 0.41 | 0.66 | 0.97 | 0.61 | 1.39 | 2.86 | 3.41 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 334 | 494 | 689 | 488 | 388 | 505 | 641 | 632 | 584 | 1,053 | 1,154 | |
| 309 | 460 | 667 | 477 | 362 | 466 | 624 | 600 | 572 | 981 | 1,066 | |
| Operating Profit | 25 | 34 | 22 | 11 | 26 | 39 | 17 | 32 | 12 | 72 | 89 |
| OPM % | 7.49% | 6.82% | 3.22% | 2.30% | 6.78% | 7.69% | 2.66% | 5.13% | 2.06% | 6.86% | 7.68% |
| 2 | 3 | 2 | 6 | 7 | 8 | 7 | 18 | 14 | 4 | 5 | |
| Interest | 4 | 4 | 3 | 2 | 1 | 1 | 2 | 7 | 8 | 16 | 17 |
| Depreciation | 8 | 7 | 5 | 6 | 6 | 6 | 5 | 5 | 5 | 9 | 11 |
| Profit before Tax | 15 | 27 | 17 | 10 | 27 | 41 | 16 | 39 | 13 | 51 | 73 |
| Tax % | 37.16% | 37.26% | 37.53% | 10.89% | 26.71% | 27.17% | 23.09% | 22.28% | 7.36% | 25.79% | 26.02% |
| Net Profit | 9 | 17 | 10 | 9 | 20 | 30 | 13 | 30 | 12 | 38 | 54 |
| EPS | 0.00 | 2.54 | 0.00 | 0.00 | 3.00 | 4.51 | 1.93 | 4.61 | 1.79 | 5.82 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 22%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 23%
- 5 Years:
- 14%
- 3 Years:
- 45%
STOCK PRICE CAGR
- 10 Years:
- 30%
- 5 Years:
- 26%
- 3 Years:
- 35%
- 1 Year:
- 89%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 9%
- 3 Years:
- 9%
- Last Year:
- 12%
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 | 7 | 7 |
| 153 | 170 | 180 | 187 | 212 | 251 | 275 | 302 | 300 | 332 | |
| 57 | 93 | 0 | 42 | 64 | 8 | 46 | 183 | 205 | 151 | |
| Trade Payables | 16 | 74 | 82 | 49 | 10 | 9 | 12 | 9 | 20 | 48 |
| 21 | 14 | 13 | 12 | 13 | 15 | 17 | 45 | 14 | 56 | |
| Total Liabilities | 254 | 357 | 281 | 296 | 305 | 290 | 357 | 546 | 545 | 594 |
| 55 | 50 | 49 | 47 | 43 | 39 | 40 | 49 | 52 | 141 | |
| Capital Work in Progress | 2 | 3 | 0 | 2 | 0 | 5 | 7 | 32 | 93 | 33 |
| 0 | 32 | 42 | 35 | 49 | 77 | 154 | 234 | 152 | 110 | |
| 49 | 123 | 74 | 87 | 80 | 82 | 93 | 135 | 133 | 147 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26 | 38 | 64 | |
| Cash & Bank | 29 | 24 | 12 | 24 | 7 | 8 | 23 | 23 | 8 | 3 |
| 119 | 125 | 104 | 102 | 126 | 79 | 40 | 47 | 68 | 97 | |
| Total Assets | 254 | 357 | 281 | 296 | 305 | 290 | 357 | 546 | 545 | 594 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14 | -1 | 109 | -2 | 40 | 9 | 32 | -49 | 13 | 62 | |
| Cash from Investing | -12 | -26 | -5 | -22 | -72 | 59 | -67 | -84 | -19 | 3 |
| Cash from Financing | -1 | 31 | -96 | 39 | 21 | -57 | 35 | 131 | 12 | -70 |
| -3 | -9 | 0 | 11 | -16 | 1 | -2 | -3 | 6 | -5 |
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 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
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