Manaksia Steels Limited (MANAKSTEEL)

Loading page…

Manaksia Steels Limited (MANAKSTEEL) · mywealthgrid

About

Manaksia Steels operates iron & steel in Materials sector. ₹564 Cr mkt cap, quarterly revenue ₹243–333 Cr, standalone. Promoter-led 74.75%, zero FII/DII.

Face value: ₹1

Market cap

₹713 Cr

P/E

12.7×

P/B

2.2×

Dividend yield

ROE

13%

ROCE

22%

Debt / equity

0.46

OPM

6.8%

EPS (TTM)

₹8.6

Book value

₹49.8

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

OPM swung 7.2pp in 12 months (4.58% Sep 2025 to 11.8% Mar 2026) — verify recovery structural or commodity-cycle rebound

Zero FII and zero DII participation signals liquidity or coverage gap; ₹564 Cr mkt cap may constrain institutional access

Ferrous metals commodity-linked; Sep–Dec 2025 margins halved (OPM 4.58%–4.85%) vs Mar–Jun 2026 (10%+) — unhedged to input-cost and demand cycles

Promoter 74.75% concentration with no institutional oversight; refinancing risk in downturns not visible in current data

Generated analysis · source review pending

Growth drivers

OPM recovered from 4.58% (Sep 2025) to 10%+ (Mar–Jun 2026); if sustained above 6.77% average, ₹243–333 Cr quarterly revenue base compounds EPS faster

Revenue ₹300+ Cr last 3 qtrs vs ₹243–262 Cr prior 2 qtrs suggests stabilization after Sep–Dec downturn; verify if sustainable demand recovery or cyclical bounce

ROE 12.97% and D/E 0.46 provide capacity for capex or acquisitions; verify growth strategy and whether management targets higher utilization, new capacity, or adjacent markets

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹108.9-3.3%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 17.5% over the last 5 years
+High promoter holding of 74.8% with no pledge

Cons

−Low return on equity of 8.6% (3-yr avg)
−Thin operating margin of 6.8%

Research score

Structured signal from quality, growth, valuation and momentum.

72/100

Business quality: 39
Growth: 90
Valuation: 86

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	510	510	688	536	504	611	742	681	634	1,131
COGS	411	411	601	435	374	456	623	560	534	899
Gross profit	99	99	87	102	130	155	119	121	100	232
	68	68	66	83	91	102	95	83	85	156
	32	32	20	19	39	53	24	37	15	77
OPM %	6.2%	6.2%	3%	3.6%	7.8%	8.7%	3.2%	5.5%	2.3%	6.8%
Depreciation	8	8	6	9	10	11	10	7	6	11
Interest	4	4	3	2	2	2	4	8	8	16
	2	2	4	3	7	8	7	16	12	4
Profit before tax	22	22	16	11	34	49	17	38	12	54
Tax	7	7	8	2	8	14	5	9	2	14
Tax %	29.9%	29.9%	47.9%	18.3%	22.8%	27.8%	28.8%	25%	18.8%	26.3%
	16	16	8	9	27	35	12	28	10	40
PAT margin %	3.1%	3.1%	1.2%	1.6%	5.3%	5.8%	1.6%	4.2%	1.5%	3.5%
EPS (₹)	2.4	2.4	—	1.3	4.1	5.4	1.9	4.3	1.5	6.1
EPS adjusted (₹)	—	2.4	1.4	1.3	4.1	5.4	1.9	4.3	1.5	6.1
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	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
Reserves	—	179	185	216	260	284	294	283	319
Minority interest	—	—	0	—	—	—	—	—	—
	—	3	59	66	8	48	185	204	149
	—	147	153	60	76	82	34	44	118
Total equity & liabilities	—	335	403	349	350	420	520	537	593
	69	75	99	88	77	72	59	62	152
CWIP	—	28	3	0	5	7	32	93	33
Investments	—	17	11	25	52	129	185	129	86
	—	216	291	236	216	212	244	253	322
Total assets	—	335	403	349	350	420	520	537	593

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	12.6%	19%	25.8%	25.4%	16.1%	17.7%	15.8%	20.5%
EBITDA margin %	3%	3.6%	7.8%	8.7%	3.2%	5.5%	2.3%	6.8%
EBIT margin %	2.1%	1.8%	5.8%	6.9%	1.9%	4.5%	1.4%	5.8%
PAT margin %	1.2%	1.6%	5.3%	5.8%	1.6%	4.2%	1.5%	3.5%
Working capital
Receivable days	44	30	14	18	8	14	22	21
Inventory days	55	116	84	84	74	91	93	63
Payable days	80	110	10	10	9	7	14	22
NWC days	19	37	88	92	73	99	101	62
Leverage
Current ratio	1.55	1.26	1.14	2.74	2.39	1.79	1.51	1.51
Debt to EBITDA	0.14	3.04	1.67	0.16	2	4.95	13.78	1.95
Debt to equity	0.02	0.31	0.29	0.03	0.17	0.62	0.7	0.46
Interest coverage	6.8	5.7	17.3	32.6	5.4	5.6	2.5	4.4
Asset turnover	2.05	1.33	1.45	1.74	1.77	1.31	1.18	1.91
Return ratios
Return on assets %	2.5%	2.1%	7.6%	10.1%	2.9%	5.5%	1.8%	6.7%
Return on capital employed %	10%	6.7%	17.3%	20.2%	7.4%	15.2%	7%	22%
Return on equity %	4.5%	4.5%	11.9%	13.3%	4.2%	9.4%	3.4%	12.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%
FII	0.96%	0.88%	0.78%	0.73%	0.64%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0.63%	0.63%	0.63%	0.63%
	24.29%	24.37%	24.47%	24.52%	24.61%	25.25%	25.25%	25.25%	24.62%	24.62%	24.62%	24.62%
No. of shareholders	—	—	—	—	—	—	—	—	29,488	27,970	27,638	26,898

Promoter holding up 0 percentage points since Sep 2023.

44 deals · 9 Aug 2021 – 25 Apr 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Apr 2025	SHREE BAHUBALI STOCK BROKING LIMITED	Bulk	NSE	Buy	4,15,980	₹71.51	₹2.97 Cr
23 Apr 2025	ASHOK KUMAR DAMANI	Bulk	NSE	Buy	5,25,000	₹71.30	₹3.74 Cr
11 Jan 2024	BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED	Bulk	NSE	Buy	12,07,705	₹61.44	₹7.42 Cr
11 Jan 2024	BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED	Bulk	NSE	Sell	10,12,080	₹61.70	₹6.24 Cr
11 Jan 2024	BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED	Bulk	BSE	Sell	5,50,000	₹62.01	₹3.41 Cr
11 Jan 2024	FOREST VINCOM PRIVATE LIMITED	Bulk	NSE	Sell	5,00,000	₹61.70	₹3.09 Cr
8 May 2023	BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED	Bulk	NSE	Sell	5,62,500	₹39.44	₹2.22 Cr
8 May 2023	BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED	Bulk	NSE	Buy	25,000	₹41.00	₹0.10 Cr
14 Mar 2023	FOREST VINCOM PRIVATE LIMITED	Bulk	NSE	Buy	5,00,000	₹37.40	₹1.87 Cr
14 Mar 2023	SILVERTOSS SHOPPERS PRIVATE LIMITED	Bulk	NSE	Sell	5,00,000	₹37.40	₹1.87 Cr

1–10 of 44

1 / 5

Mr. RAMESH KUMAR MAHESHWARINon-Executive - Independent Director-Chairperson
Mr. VARUN AGRAWALExecutive Director-MD
Vineet AgrawalChief Executive Officer
Mr. SURESH KUMAR AGRAWALNon-Executive - Non Independent Director
Mr. MRINAL KANTI PALNon-Executive - Non Independent Director
Rajesh SinghaniaChief Financial Officer
Mrs. NIDHI BAHETINon-Executive - Independent Director
Mr. BISWANATH BHATTACHARJEENon-Executive - Independent Director
Ajay SharmaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Manaksia Steels Limited. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results10 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

17 announcementsExport CSV

4 Sept 2026, 12:44 pmCompany Update

Letter To The Shareholders For Annual Report Web-Link

General PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	12.6%	19%	25.8%	25.4%	16.1%	17.7%	15.8%	20.5%
EBITDA margin %	3%	3.6%	7.8%	8.7%	3.2%	5.5%	2.3%	6.8%
EBIT margin %	2.1%	1.8%	5.8%	6.9%	1.9%	4.5%	1.4%	5.8%
PAT margin %	1.2%	1.6%	5.3%	5.8%	1.6%	4.2%	1.5%	3.5%
Working capital
Receivable days	44	30	14	18	8	14	22	21
Inventory days	55	116	84	84	74	91	93	63
Payable days	80	110	10	10	9	7	14	22
NWC days	19	37	88	92	73	99	101	62
Leverage
Current ratio	1.55	1.26	1.14	2.74	2.39	1.79	1.51	1.51
Debt to EBITDA	0.14	3.04	1.67	0.16	2	4.95	13.78	1.95
Debt to equity	0.02	0.31	0.29	0.03	0.17	0.62	0.7	0.46
Interest coverage	6.8	5.7	17.3	32.6	5.4	5.6	2.5	4.4
Asset turnover	2.05	1.33	1.45	1.74	1.77	1.31	1.18	1.91
Return ratios
Return on assets %	2.5%	2.1%	7.6%	10.1%	2.9%	5.5%	1.8%	6.7%
Return on capital employed %	10%	6.7%	17.3%	20.2%	7.4%	15.2%	7%	22%
Return on equity %	4.5%	4.5%	11.9%	13.3%	4.2%	9.4%	3.4%	12.2%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jindal Steel LimitedJINDALSTELJINDALSTEL	₹1,12,262 Cr	₹1,34,300 Cr	₹56,413 Cr	₹9,314 Cr	18.2%	₹2,718 Cr	6.3%	9.2%	6.9%	1
Steel Authority Of India LimitedSAILSAIL	₹72,070 Cr	₹1,03,998 Cr	₹1,11,135 Cr	₹13,384 Cr	10.8%	₹4,272 Cr	3%	7.6%	5.7%	105
Jindal Stainless LimitedJSLJSL	₹60,404 Cr	₹67,745 Cr	₹44,026 Cr	₹5,645 Cr	13%	₹3,249 Cr	7.4%	19.6%	17.5%	42
Sarda Energy & Minerals LimitedSARDAENSARDAEN	₹17,435 Cr	₹20,030 Cr	₹5,665 Cr	₹1,824 Cr	31.4%	₹1,130 Cr	19.5%	17.3%	16.2%	96
Vedanta Iron And Steel LimitedVISLVISL	₹12,189 Cr	₹12,189 Cr	₹0 Cr	₹-0 Cr	—	₹-0 Cr	—	—	—	—
Nmdc Steel LimitedNSLNISPNSLNISP	₹12,001 Cr	₹16,603 Cr	₹13,938 Cr	₹1,510 Cr	11.1%	₹84 Cr	0.4%	3.3%	0.4%	-83
Sandur Manganese & Iron Ores LimitedSANDUMASANDUMA	₹8,637 Cr	₹9,631 Cr	₹5,328 Cr	₹1,253 Cr	23.8%	₹719 Cr	12.9%	26.6%	22.4%	35
Jai Balaji Industries LimitedJAIBALAJIJAIBALAJI	₹5,631 Cr	₹6,189 Cr	₹5,786 Cr	₹522 Cr	13.7%	₹293 Cr	8.8%	40.2%	30.7%	73
Prakash Industries LimitedPRAKASHPRAKASH	₹2,126 Cr	—	₹0 Cr	—	—	₹386 Cr	—	—	—	—
Manaksia Steels LimitedMANAKSTEELMANAKSTEEL	₹713 Cr	₹862 Cr	₹1,241 Cr	₹99 Cr	6.8%	₹56 Cr	3.5%	22%	13%	62
Scan Steels LimitedSCANSTLSCANSTL	₹293 Cr	₹354 Cr	₹789 Cr	₹45 Cr	5.8%	₹22 Cr	2.7%	7.6%	5.2%	112
KIC Metaliks LtdKAJARIRKAJARIR	₹103 Cr	₹260 Cr	₹514 Cr	₹64 Cr	12.5%	₹39 Cr	7.5%	36%	27.6%	67

Date	Category	Subject	Filing
4 Sept 2026, 12:44 pm	Company Update General	Letter To The Shareholders For Annual Report Web-Link	PDF
28 Aug 2026, 12:53 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
27 Aug 2026, 4:57 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
27 Aug 2026, 4:53 pm	AGM/EGM AGM	Notice Of 25Th Annual General Meeting Scheduled To Be Held On 23Rd September, 2026	PDF
21 Aug 2026, 5:23 pm	Company Update General	Updates On Pending Litigation	PDF
11 Aug 2026, 6:37 pm	Company Update General	Disclosure Of Pending Litigation	PDF
11 Aug 2026, 1:45 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
11 Aug 2026, 1:35 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	130	-4	36	-1	24	-52	14	62
	-36	-30	-71	57	-65	-84	-21	3
	-96	53	5	-59	35	130	9	-70
Net cash flow	-2	20	-30	-3	-5	-7	2	-6
Free cash flow	97	-15	35	-7	16	-91	-57	24
CFO / Operating profit %	638%	-19.9%	90.8%	-1.1%	100.4%	-139.3%	91.5%	80.5%

Manaksia Steels Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

Announcements

Not in the F&O segment

No fund holdings on record

1

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Manaksia Steels Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1