Manaksia Steels Ltd

Manaksia Steels Ltd – Trading Window Closure from 1 October 2026 till the end of 48 hours after the announcement by the Company of the Unaudited Financial Results for the quarter ended 30 September, 2026

AGM details

• Date/time/mode: 23 Sep 2026, 3:00–3:45 PM, VC/OAVM.
• Record date for voting results: 16 Sep 2026.
• Total shareholders on record date: 26,028.
• Attendees: Promoter group 3; Public 120 via VC.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt standalone and consolidated financials; passed with 99.9927% in favour.
• Resolution 2 (Ordinary): Re-appoint Varun Agrawal as director; passed with 99.9927% in favour.
• Resolution 3 (Ordinary): Ratify cost auditor remuneration for FY2027; passed with 99.9926% in favour.

Dividend

• Dividend: not declared at this AGM.

Directors

• Director changes: Varun Agrawal re-appointed by rotation.

Auditors

• Cost Auditors remuneration ratified for FY2027.

Other material matters

• No material related party transactions disclosed.

AGM Details

• Date and time: 23 September 2026, 03:00 P.M. IST.
• Mode: VC/OAVM.
• Concluded: 03:45 P.M. IST.
• Attendance: 123 Members via VC/OAVM.

Key Resolutions

• Adopt standalone financial statements for FY2026; results pending.
• Adopt consolidated financial statements for FY2026; results pending.
• Reappoint Varun Agrawal as Director by rotation; results pending.
• Ratify cost auditor remuneration for FY2027; results pending.

Voting Status

• Results declared after Scrutinizer’s Report; to be hosted on company and NSDL websites.

Financial highlights

• Standalone revenue from operations: ₹105,319.18 lakh; up 80.3% YoY.
• Standalone EBITDA: ₹7,656.38 lakh; up 198%.
• Standalone PAT: ₹3,816.95 lakh; up 226%.
• EPS: ₹5.82; up from ₹1.79.
• ROCE: 15.68%; RoE: 11.83%.
• Interest coverage: 4.85x; net debt/equity: 0.17x.
• Colour-coated revenue share: 42.41% of revenues; domestic share: 81%.
• Cash profit: ₹4,751 lakh; volume sold: ~124,000 MT.

Operations & capacity expansion

• Alu-Zinc line commissioned; capacity 110,200 TPA.
• Colour-coating line expanded from 48,000 to 60,000 TPA; CC II planned at ~90,000 TPA.
• Total colour-coating capacity targeted at 150,000 TPA.
• New 6-high reversible cold-rolling mill: ₹100 crore; commissioning by Dec 2027.
• New colour coating line (CCL II) expected to be completed in FY2026-27.

Volume, mix and geography

• Volume uplift driven by value-added coated steel portfolio.
• Eastern India revenue share declined to 56.39% of domestic revenues as footprint broadened.
• Domestic revenues account for 81% of FY2025-26; expansion into North, South and West India.

Capital structure & liquidity

• No long-term debt; short-term debt ₹14,918 lakh; cash & equivalents ₹2,922 lakh.
• Net debt ₹57,225 lakh? Note: Consolidated cash shows net debt figure; standalone net debt ₹5,722.53 lakh.
• Conservative balance sheet; operating cash flow supports capex via internal accruals.

Governance & risk

• Board: 6 directors; 3 independent; 1 independent woman; 4 board meetings in FY2025-26.
• Audit, Nominations & Remuneration, Stakeholders Relationship, CSR and Committee of Directors operate with defined charters.
• No material governance flags; adherence to regulatory and SEBI requirements.

CSR, ESG and sustainability

• CSR expenditure: ₹57.37 lakh; 2% average net profit obligation: ₹40.07 lakh; excess ₹17.30 lakh carried forward.
• CSR focus areas: Education, Healthcare, Environmental sustainability, Women’s empowerment.

Outlook and strategic priorities

• FY2026-27 revenue target: ₹1,500 crore; 2028-29: ~₹3,000 crore.
• Capex plan includes 90,000 TPA CC line and continued backward integration.
• Continued focus on higher-value products, brand portfolio expansion and regional market reach.

Litigation Update

• Enhanced land premium of Rs 3.32 crore deposited to HDA per High Court order.
• Litigation settled; no further liability or amount payable.

Litigation update

• Litigation with State of West Bengal over Haldia land premium under the demerger.
• Order directs deposit of remaining enhanced premium Rs 3,32,50,000 within six weeks.
• Total payable amount Rs 3,32,50,000; order date July 27, 2026.
• Company expects no adverse financial impact on operations.
• Petitioner may appeal against the order.
• Dispute arises from land transferred Oct 1, 2013 under demerger with Manaksia Ltd.
• Enhanced premium: Rs 15 lakh/acre for 35 acres vs Rs 5.5 lakh/acre previously.