Manaksia Aluminium Company Ltd (MANAKALUCO) AI Stock Analysis

• Market Cap: ₹2.31B
• Dividend Yield: 0.28%
• Average Volume (3M): 8.36K
• Price to Earnings (P/E): 38.4
• Beta (1Y): 0.78
• Revenue Growth: 19.61%
• EPS Growth: 21.47%
• Country: IN
• Employees: 310
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Aluminum
• EPS (TTM): 0.17
• Shares Outstanding: 65,534,050
• 10 Day Avg. Volume: 3,865
• 30 Day Avg. Volume: 8,364
• PEG Ratio: 1.30
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 0.28
• P/FCF Ratio: -4.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: ₹39.00 ▲(31.85% Upside)

The score is primarily held back by weak cash flow quality (negative free cash flow, low cash conversion) and high leverage, despite solid revenue growth. Technicals are mixed with short-term weakness but longer-term moving-average support. Valuation is a notable headwind given the high P/E and low dividend yield.

Positive Factors

Revenue Growth

Sustained ~17.7% revenue growth indicates expanding demand for the company’s products and successful market penetration. Over 2–6 months this supports scale benefits, higher utilization, and the potential to convert volume growth into improved operating leverage if cost controls hold.

Gross Margin Strength

A near-30% gross margin signals effective production cost control and the ability to capture value in conversion processes. This margin base provides durability against raw-material volatility and creates room to invest in higher-margin product development and efficiency improvements over the medium term.

Value-added Product Mix

Concentration on converted foil, pharmaceutical/packaging grades and containers is structurally favorable versus commodity aluminium. Higher-value packaging and converted products typically yield more stable demand and better conversion spreads, supporting longer-term margin resilience and customer stickiness.

Negative Factors

Weak Cash Generation

Very low cash conversion and negative free cash flow limit internal funding for capex, working capital, or deleveraging. Persisting this condition forces dependence on external financing, raising refinancing and liquidity risk and constraining strategic investments over the coming quarters.

High Leverage

Elevated leverage reduces financial flexibility and increases interest expense sensitivity to rate moves. With modest profitability and weak cash flow, high debt amplifies refinancing and solvency risk, limiting ability to withstand sector cyclicality or pursue growth initiatives without additional capital.

Thin Profitability

Low net margins and a declining EBIT margin leave little buffer for raw-material cost spikes or operating setbacks. Persistently thin profitability constrains retained earnings, weakens return metrics, and reduces scope to fund higher-value initiatives or absorb cyclical downturns over the medium term.

Manaksia Aluminium Company Ltd Business Overview & Revenue Model

Company Description

Manaksia Aluminium Company Limited manufactures and sells aluminum products primarily in India. It offers aluminum sheets and coils, aluminum flooring sheets, aluminum pattern sheets, aluminum roofing or building sheets, aluminum closure coils and sheets, aluminum color coated coils, aluminum color coated roofing or building sheets, and aluminum alloy ingots. The company exports its products to approximately 20 countries in Europe, North America, the Middle East, Africa, Latin America, other continents, etc. Manaksia Aluminium Company Limited was incorporated in 2010 and is based in Kolkata, India.

How the Company Makes Money

Manaksia Aluminium generates revenue primarily through the sale of its aluminium products, which are sold to various industries that require lightweight and durable materials. The company’s revenue model is based on direct sales to manufacturers and distributors, as well as long-term contracts with key clients. Significant revenue streams include the production and supply of aluminium foils for packaging, which is in high demand due to the growing food and beverage sector. Additionally, MANAKALUCO benefits from strategic partnerships with industry players that enhance its market reach and operational efficiency. Fluctuations in global aluminium prices and demand dynamics in various sectors also play a crucial role in influencing the company’s earnings.

Manaksia Aluminium Company Ltd Financial Statement Overview

Summary

Revenue grew strongly (+17.7%), but profitability is thin (net margin 1.19%) and operating efficiency weakened (EBIT margin down to 6.79%). Leverage is elevated (debt-to-equity 1.77) and cash generation is a key concern with negative free cash flow and low operating cash flow to net income (0.16).

Income Statement

Manaksia Aluminium Company Ltd demonstrated solid revenue growth with a 17.7% increase from the previous year, although the net profit margin remains low at 1.19%. The gross profit margin stands at 29.6%, indicating decent cost management in production, but a decline in EBIT margin to 6.79% suggests increased operating expenses. The EBITDA margin is at 8.63%, reflecting moderate operating efficiency.

Balance Sheet

The company's balance sheet reveals a debt-to-equity ratio of 1.77, indicating a relatively high leverage. However, the equity ratio is 26.8%, showing a stable equity base. Return on equity is low at 4.47%, highlighting limited profitability relative to shareholder investments.

Cash Flow

The cash flow statement shows challenges with negative free cash flow and a significant decrease from the previous year. The operating cash flow to net income ratio is 0.16, indicating low cash generation from operations relative to net income. These figures suggest potential liquidity issues if not addressed.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.62B	5.09B	4.32B	4.83B	4.38B	2.75B
Gross Profit	1.56B	1.51B	527.85M	1.19B	1.22B	300.33M
EBITDA	465.04M	439.22M	327.84M	315.88M	244.01M	122.78M
Net Income	68.91M	60.46M	50.86M	88.66M	74.56M	-31.63M
Balance Sheet
Total Assets	0.00	5.04B	4.18B	3.79B	3.72B	3.22B
Cash, Cash Equivalents and Short-Term Investments	69.50M	262.67M	1.15M	980.00K	4.56M	174.45M
Total Debt	0.00	2.39B	1.72B	1.46B	1.29B	1.11B
Total Liabilities	-1.35B	3.69B	2.88B	2.54B	2.56B	2.14B
Stockholders Equity	1.35B	1.35B	1.30B	1.25B	1.16B	1.09B
Cash Flow
Free Cash Flow	0.00	-306.88M	-102.97M	-21.98M	-26.52M	-165.37M
Operating Cash Flow	0.00	9.69M	60.58M	132.98M	79.20M	-131.08M
Investing Cash Flow	0.00	-332.55M	-106.53M	-155.75M	-125.47M	-81.11M
Financing Cash Flow	0.00	391.19M	46.12M	22.07M	46.56M	208.39M

Manaksia Aluminium Company Ltd Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 29.58
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANAKALUCO, the sentiment is Neutral. The current price of 29.58 is below the 20-day moving average (MA) of 47.59, below the 50-day MA of 34.61, and below the 200-day MA of 29.94, indicating a neutral trend. The MACD of 1.43 indicates Positive momentum. The RSI at 39.47 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MANAKALUCO.

Manaksia Aluminium Company Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CUBEXTUB	68 Neutral	₹1.67B	22.50	―	―	29.24%	75.16%
MAANALU	67 Neutral	₹8.21B	53.02	―	―	-0.28%	-33.35%
CENTEXT	66 Neutral	₹1.73B	16.94	―	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANAKALUCO	59 Neutral	₹2.31B	38.42	―	0.28%	19.61%	21.47%
MCL	53 Neutral	₹2.15B	62.16	―	―	119.41%	-35.45%

Manaksia Aluminium Company Ltd Corporate Events

Manaksia Aluminium Confirms Full Reconciliation of Share Capital for Q3 FY2025-26

Manaksia Aluminium Company Limited has submitted its Reconciliation of Share Capital Audit Report for the quarter ended 31 December 2025, confirming that its total issued, listed and admitted equity share capital of 65,534,050 shares is fully reconciled across both BSE and NSE and the depositories CDSL and NSDL. The audit, conducted under Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018, reports no differences between issued, listed and dematerialised capital, no corporate actions affecting share capital during the quarter, and an up-to-date register of members, underscoring transparent capital records and regulatory compliance for shareholders and market participants.

Manaksia Aluminium Announces Resignation of Key Managerial Personnel

Manaksia Aluminium Company Ltd announced the resignation of Mr. Vivek Jain as the Company Secretary and Compliance Officer, effective December 12, 2025. This change is due to Mr. Jain’s decision to pursue an alternate career opportunity. The company is actively seeking a replacement and will update the stock exchanges once a new appointment is made.

Manaksia Aluminium Releases Unaudited Financial Results for September 2025

Manaksia Aluminium Company Ltd announced the approval and adoption of its unaudited financial results for the quarter and half-year ending September 30, 2025, during a board meeting. The results, reviewed by Dangi Jain & Co., Chartered Accountants, will be published in newspapers and uploaded on the company’s website, reflecting compliance with SEBI regulations. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and adherence to regulatory standards.