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MANAKSTEEL - Manaksia Steels

📊 NSE: MANAKSTEEL 🏢 Steel - Medium / Small 📅 Last Updated: 12/14/2025 9:31

📢 Recent Corporate Announcements

Manaksia Steels Seeks Approval for ₹600 Crore Related Party Transactions for FY 2026-27

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 12 Feb 2026, 03:04 PM

Manaksia Steels Limited has issued a postal ballot notice seeking shareholder approval for material related party transactions (RPTs) totaling ₹600 Crores for the 2026-27 financial year. The transactions involve the sale of raw materials, spare parts, and finished products to four group entities, including Sumo Steels and MINL Limited. These transactions are proposed to be conducted at arm's length and in the ordinary course of business. Shareholders can cast their votes via e-voting between February 13 and March 14, 2026.

Proposed sale of raw materials and spares to Sumo Steels Limited capped at ₹250 Crores
Proposed transactions with MINL Limited for raw materials and spares up to ₹200 Crores
Sale of products to Manaksia Limited and Manaksia Ferro Industries Limited for ₹75 Crores each
Total aggregate value of proposed material related party transactions reaches ₹600 Crores for FY27
Remote e-voting period runs from February 13, 2026, to March 14, 2026

💡 Investors should monitor the approval of these resolutions to ensure transparency in group dealings and assess if these high-volume RPTs impact the company's independent margin profile.

Manaksia Steels Opens Special Window for Physical Share Dematerialization Until Feb 2027

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 11 Feb 2026, 03:16 PM

Manaksia Steels Limited has announced a special one-year window for the transfer and dematerialization of physical securities, effective from February 5, 2026, to February 4, 2027. This initiative follows a SEBI circular dated January 30, 2026, aimed at facilitating shareholders who still hold physical certificates. Securities processed through this window will be credited in demat form and will be subject to a mandatory one-year lock-in period from the date of registration. This is a procedural update to align with regulatory requirements for electronic shareholding.

Special window for dematerialization open from February 5, 2026, to February 4, 2027.
Complies with SEBI Circular No. SEBI/HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026.
Transferred securities will be subject to a mandatory 1-year lock-in period.
Notices published in Business Standard (English) and Ekdin (Bengali) on February 11, 2026.

💡 Shareholders holding physical share certificates should utilize this window to convert their holdings into demat form to ensure future liquidity. Investors already holding shares in demat form are not affected and require no action.

Manaksia Steels Q3 FY26 Consolidated PAT Surges 314% YoY to ₹9.61 Crore

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jan 2026, 04:25 PM

Manaksia Steels reported a robust performance for Q3 FY26, with consolidated revenue nearly doubling to ₹317.86 crore compared to ₹160.48 crore in the same quarter last year. Net profit saw a massive jump of 314% YoY, reaching ₹9.61 crore, driven by strong operational performance. The company's EBITDA also improved significantly to ₹18.12 crore from ₹5.86 crore YoY. For the nine-month period ending December 2025, the company has already surpassed its full-year FY25 profit, indicating strong growth momentum.

Consolidated Revenue from Operations grew 98% YoY to ₹317.86 crore in Q3 FY26.
Consolidated Net Profit (PAT) increased by 314% YoY to ₹9.61 crore from ₹2.32 crore.
EBITDA for the quarter stood at ₹18.12 crore, a significant jump from ₹5.86 crore in the year-ago period.
Nine-month consolidated PAT reached ₹20.60 crore, compared to just ₹5.04 crore in 9M FY25.
Earnings Per Share (EPS) for the quarter rose to ₹1.47 from ₹0.35 on a YoY basis.

💡 The stock is likely to see positive momentum following this substantial growth in both top-line and bottom-line figures. Investors should monitor the sustainability of these margins in the upcoming quarters considering the cyclical nature of the steel sector.

Manaksia Steels Q3 FY26 PAT Surges 314% YoY to ₹9.61 Cr; Revenue Doubles

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jan 2026, 04:24 PM

Manaksia Steels reported a stellar performance for Q3 FY26, with consolidated revenue nearly doubling to ₹320.56 crore from ₹160.53 crore in the previous year. Net profit (PAT) witnessed a massive jump of 314.38% YoY, reaching ₹9.61 crore, primarily driven by a 110% increase in sales volumes. EBITDA margins improved significantly from 3.65% to 5.65% due to better operating leverage and cost efficiencies. The company is also expanding its capacity with a new colour-coating line at Haldia expected to start trials by March 2026.

Consolidated Q3 FY26 Net Profit surged 314.38% YoY to ₹9.61 crore compared to ₹2.32 crore in Q3 FY25.
Total Income for the quarter grew 99.70% YoY to ₹320.56 crore, supported by a 110% increase in sales volumes.
EBITDA increased by 209.13% YoY to ₹18.12 crore, with margins expanding from 3.65% to 5.65%.
Nigerian subsidiary reported over 50% revenue growth and achieved positive PAT during the period.
New Colour-Coating Line at Haldia is on schedule with trial production expected in February-March 2026.

💡 Investors should take note of the significant volume-led growth and margin expansion despite soft steel prices. The upcoming commissioning of the Haldia expansion and successful international trials in Europe and Africa provide a strong outlook for FY27.

Manaksia Steels Q3 FY26 Consolidated PAT Jumps 314% YoY to ₹9.61 Crore

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jan 2026, 03:50 PM

Manaksia Steels reported a robust performance for the quarter ended December 31, 2025, with consolidated revenue nearly doubling to ₹317.86 crore compared to ₹160.48 crore in the same quarter last year. The net profit saw a massive surge of 314% YoY, reaching ₹9.61 crore, driven by strong operational performance and higher sales volume. EBITDA also improved significantly to ₹18.12 crore from ₹5.86 crore YoY. For the nine-month period, the company's profit stands at ₹20.60 crore, a substantial increase from ₹5.04 crore in the previous year, already surpassing the full-year FY25 performance.

Consolidated Revenue from operations grew 98% YoY to ₹31,786.00 Lacs from ₹16,048.05 Lacs.
Consolidated Net Profit (PAT) surged 314% YoY to ₹960.74 Lacs from ₹231.85 Lacs.
EBITDA for the quarter stood at ₹1,811.62 Lacs, a significant jump from ₹586.03 Lacs in Q3 FY25.
Basic EPS increased to ₹1.47 for the quarter compared to ₹0.35 in the year-ago period.
9M FY26 Consolidated PAT reached ₹2,059.58 Lacs, already exceeding the full-year FY25 PAT of ₹974.98 Lacs.

💡 The company is exhibiting strong earnings momentum with 9-month profits already significantly higher than the previous full year. Investors should consider this a positive signal but monitor if this margin expansion is sustainable given the cyclical nature of the steel industry.

Manaksia Steels Submits Quarterly SEBI Dematerialization Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 12:56 PM

Manaksia Steels Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the period ended December 31, 2025. The Registrar and Transfer Agent, Maheshwari Datamatics Private Limited, confirmed that all dematerialization requests were processed within the prescribed timelines. The report verifies that physical certificates were mutilated and cancelled after verification, and the depositories' names were updated in the register of members. This is a standard administrative filing required by Indian stock exchanges.

Compliance certificate issued for the quarter ended December 31, 2025.
Confirmation from Registrar and Transfer Agent (RTA) Maheshwari Datamatics Private Limited.
Verification that security certificates received for dematerialization were mutilated and cancelled.
Confirmation that the register of members was updated with depository names within the prescribed time limit.

💡 No action is required from investors as this is a routine regulatory filing confirming the company's adherence to standard share processing protocols.

Manaksia Steels Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Dec 2025, 12:56 PM

Manaksia Steels Limited has informed the stock exchanges that its trading window will be closed starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results. The restriction applies to the un-audited financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the results are officially declared to the exchanges.

Trading window closure effective from January 1, 2026
Closure pertains to un-audited financial results for the quarter and nine months ended December 31, 2025
Restriction applies to all Directors, Designated Persons, and their immediate relatives
Window to reopen 48 hours after the announcement of financial results
Board meeting date for result approval to be announced in due course

💡 This is a routine regulatory announcement and does not impact the company's fundamentals. Investors should monitor the upcoming board meeting date for the release of Q3 FY2026 financial results.

Manaksia Steels Clarifies No Undisclosed Information Behind Recent Price Movement

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Dec 2025, 06:21 PM

Manaksia Steels Limited has responded to a surveillance query from the National Stock Exchange regarding recent significant price movements in its securities. The company officially stated on December 24, 2025, that it is in full compliance with SEBI Regulation 30 and has disclosed all price-sensitive information. Management clarified that there are no pending announcements or undisclosed developments that would impact the stock's price or volume. This suggests the recent volatility is likely driven by broader market factors rather than internal company news.

Response to NSE surveillance query Ref No: NSE/CM/Surveillance/16230 dated December 24, 2025.
Company confirms strict adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Management states no undisclosed price-sensitive information (UPSI) exists at this time.
The clarification follows observed volatility in both price and volume behavior of the MANAKSTEEL scrip.

💡 Investors should remain cautious as the company has confirmed no new fundamental developments to justify recent price swings. It is advisable to monitor the stock for speculative activity and wait for actual financial performance updates.

View All MANAKSTEEL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Standalone revenue for FY 2024-25 was INR 584.18 Cr, representing an 8.17% decline from INR 631.96 Cr in FY 2023-24. The primary segment, colour-coated steel sheets and coils, contributed 33.44% of total income. The Nigerian subsidiary (FSML) delivered outstanding growth of over 150% YoY.

Geographic Revenue Split

Domestic operations (India) contributed the majority of revenue, while international operations are centered in Nigeria through Federated Steel Mills Ltd. (FSML), which saw revenue growth exceeding 150% YoY in FY26.

Profitability Margins

Profitability margins moderated in FY25 due to a sharp reduction in sales realization. However, FY24 showed a stable financial performance with an improvement in profitability margins compared to previous periods.

EBITDA Margin

Operating profit before working capital changes was INR 21.24 Cr for the half-year ended September 30, 2025, compared to a loss of INR 0.83 Cr in the previous year's corresponding period, showing a significant recovery in core profitability.

Capital Expenditure

The company successfully commissioned a Galvalume Plant in June 2025. A new project is underway to enhance colour-coating capacity by nearly 200%, with commissioning expected by Q4 FY26.

Credit Rating & Borrowing

CARE Ratings reaffirmed 'CARE A-; Stable' for long-term bank facilities (INR 60.00 Cr, enhanced from 45.00 Cr) and 'CARE A2+' for short-term bank facilities (INR 440.00 Cr, enhanced from 330.00 Cr) as of July 2025.

⚙️ Operational Drivers

Raw Materials

Primary raw materials include steel coils and sheets used for galvanizing and colour-coating processes. Specific cost percentages for each material are not disclosed.

Capacity Expansion

Current capacity includes the newly commissioned Galvalume Plant (June 2025). Planned expansion will increase colour-coating capacity by nearly 200% by Q4 FY26 to strengthen the value-added segment.

Raw Material Costs

Raw material costs are a significant portion of the cost structure; margins were squeezed in FY25 as sales realizations fell faster than input costs.

Manufacturing Efficiency

The company focuses on driving scale and efficiency through its new Galvalume and expanded colour-coating lines to improve absorption of fixed costs.

📈 Strategic Growth

Expected Growth Rate

200%

Growth Strategy

Growth will be achieved through a 200% capacity expansion in the high-margin colour-coating segment by Q4 FY26, the ramp-up of the new Galvalume plant, and capitalizing on infrastructure demand in Nigeria where the subsidiary grew 150% YoY.

Products & Services

Colour-coated steel sheets and coils (33.44% of revenue), galvanized steel sheets, hot rolled steel sheets, and Galvalume products.

Brand Portfolio

Manaksia Steels

New Products/Services

Galvalume products from the newly commissioned plant (June 2025) are expected to contribute significantly to the value-added product mix.

Market Expansion

Expansion is focused on the Nigerian market through Federated Steel Mills Ltd. and increasing domestic presence in architectural segments like roofing and cladding.

🌍 External Factors

Industry Trends

The industry is shifting toward value-added products like colour-coated and Galvalume steel for architectural and infrastructure use. Manaksia is positioning itself by tripling its colour-coating capacity.

Competitive Landscape

The company competes in the fragmented steel processing and value-added products market against both large integrated players and smaller regional processors.

Competitive Moat

Moat is derived from 40 years of promoter experience in steel manufacturing and the strategic location of plants. Sustainability depends on maintaining a low-cost structure and high capacity utilization.

Macro Economic Sensitivity

Highly sensitive to global steel price cycles and infrastructure spending in India and Nigeria.

Consumer Behavior

Rising demand for durable and aesthetic roofing/cladding materials is driving the shift toward colour-coated steel sheets.

Geopolitical Risks

Operations in Nigeria carry risks related to currency volatility and local economic stability.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with SEBI Listing Obligations and Disclosure Requirements (LODR) 2015 and Indian Accounting Standards (Ind AS 34).

⚠️ Risk Analysis

Key Uncertainties

Currency risk in Nigeria (Naira devaluation) and cyclicality in steel prices are the primary uncertainties impacting margins by over 5-10% in volatile periods.