Manaksia Steels Ltd

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.

Record date & AGM

• AGM scheduled for 23 September 2026 at 03:00 PM IST via video conferencing.
• Cut-off date for voting entitlement is 16 September 2026.
• Record date to identify shareholders eligible for remote e-voting and AGM voting.

Expansion plan

• In-principle expansion approval for Haldia facility at approx. ₹800 crore, debt and internal accruals funding.
• Phase I includes Colour Coating Line II and Cold Rolling Mill; Phase II expansion planned.
• Total investment for expansion is approximately ₹800 crore.
• Funding mix envisioned as debt and internal accruals.
• Phase I: CR and Colour Coating Line II; Phase II capacity expansion under study.
• 10 MW captive solar plant to support operations.
• Phase II expected by financial year 2029-30 (approx.).

Q1 FY27 Highlights

• Total income (standalone) ₹305.88 cr, up 50.3% YoY.
• EBITDA (standalone) ₹36.33 cr, up 189.7% YoY.
• PAT (standalone) ₹22.38 cr, up 252.6% YoY.
• EPS (standalone) ₹3.41, up 252.6% YoY.
• Cash EPS (standalone) ₹3.83, up 217.6% YoY.
• Consolidated total income ₹331.16 cr, up 50.53% YoY.
• Consolidated EBITDA ₹37.21 cr, up 180.6% YoY.
• Consolidated PAT ₹22.65 cr, up 249.2% YoY.
• Consolidated EPS ₹3.46, up 249.2% YoY.
• Consolidated Cash EPS ₹3.94, up 208.0% YoY.

Instruments/Facilities Rated

• Bank loan facilities rated by CARE Ratings have been withdrawn.

Rating Agency

• CARE Ratings Limited withdraws ratings; company shifts to ICRA Limited.

Rationale

• Withdrawal was at issuer's request under CARE's withdrawal policy.

Outlook / Next steps

• No current rating; future ratings to be offered by ICRA.

Material Changes

• Withdrawal of CARE rating; transition to ICRA for future ratings.

Dematerialisation status and certificate handling

• Securities received for dematerialisation were processed (accepted/rejected) by the RTA and depositories; listed on exchanges.
• Dematerialisation certificates were mutilated and cancelled after verification; depository's name substituted as registered owner within timelines.