Manaksia Coated Metals & Industries Ltd (MANAKCOAT) AI Stock Analysis

• Market Cap: ₹11.91B
• Dividend Yield: 0.04%
• Average Volume (3M): 184.18K
• Price to Earnings (P/E): 47.4
• Beta (1Y): 1.17
• Revenue Growth: 18.99%
• EPS Growth: 96.30%
• Country: IN
• Employees: 278
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): 0.69
• Shares Outstanding: 105,834,050
• 10 Day Avg. Volume: 517,975
• 30 Day Avg. Volume: 184,184
• PEG Ratio: 1.59
• Price to Book (P/B): 2.58
• Price to Sales (P/S): 0.75
• P/FCF Ratio: 70.77
• 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: 58 Neutral
• Price Target: ₹117.00 ▼(-10.76% Downside)
• Action: Reiterated Date: 11/22/25
• Date: Action: Reiterated 11/22/25

Manaksia Coated Metals & Industries Ltd's overall stock score is primarily influenced by its strong financial performance, characterized by consistent revenue and profit growth and effective cost management. However, the technical analysis indicates bearish momentum, and the valuation suggests the stock may be overvalued, which negatively impacts the overall score.

Positive Factors

Revenue and Margin Momentum

The company reports consistent revenue growth and strengthening gross and EBITDA margins, indicating durable improvement in pricing power and operational efficiency. Such margin expansion supports sustainable profitability and reinvestment capacity over the next several quarters.

Balance Sheet Strength

A growing equity base, declining debt-to-equity trend and rising ROE point to improving financial resilience. Manageable leverage raises strategic flexibility for capex or working capital needs and lowers refinancing risk across a multi-quarter horizon.

Value‑added Business Model

The core model—manufacturing coated, value‑added flat steel—generates conversion margins and benefits from product mix and capacity utilization. This structural positioning helps sustain margins versus commodity raw steel and supports durable cash flow potential.

Negative Factors

Free Cash Flow Volatility

Significant FCF swings reduce predictability of internal funding for capex, dividends or debt reduction. Even with recent improvement, inconsistent FCF conversion raises execution risk and could constrain strategic investments or shareholder returns over the coming months.

Modest Net Profit Margins

Although margins are improving, a still-modest net profit margin limits retained earnings and the company's buffer against raw material or demand shocks. Lower net margins reduce long-term internal capital generation and increase sensitivity to cost pressures.

Reliance on Liabilities

A moderate reliance on liabilities implies some dependence on external financing. Should leverage rise or credit conditions tighten, the company could face higher financing costs or constrained liquidity, limiting operational flexibility over the next several quarters.

Manaksia Coated Metals & Industries Ltd Business Overview & Revenue Model

Company Description

Manaksia Coated Metals & Industries Limited manufactures and sells coated metal and household products in India and internationally. It offers galvanized steel sheets/coils, and pre-painted steel coils/sheets for various applications, such as construction, white goods, automotive, furniture, containers, and roofing and façade under the Colour Strong, Zingalvo, and Singham brand names. The company also provides mosquito repellent coils, liquid vaporizers, incense, and paper cards, as well as aerosol for mosquitoes and other crawling insects; and manufactures ultramarine blue powder used for fabric whitener. It also engages in trading of agro products. The company was incorporated in 2010 and is based in Hyderabad, India.

How the Company Makes Money

MANAKCOAT makes money primarily by manufacturing and selling coated metal products (value-added flat steel). Its core revenue stream is the sale of these coated steel products to customers who use them as inputs for further fabrication or end-use applications. Revenue is typically generated on a per-tonne (or per-unit) basis through orders/contracts, with pricing influenced by underlying steel/raw material costs and conversion margins (the value added through coating/processing). Secondary earnings can come from product mix (higher-margin coated/value-added variants), capacity utilization (spreading fixed manufacturing costs over higher volumes), and export sales where applicable. Specific details on customer concentration, contract structure (spot vs. long-term), partnerships, and segment-wise revenue breakdown are null.

Manaksia Coated Metals & Industries Ltd Financial Statement Overview

Summary

Manaksia Coated Metals & Industries Ltd presents a strong financial outlook with consistent revenue and profit growth, effective cost management, and improving margins. The balance sheet exhibits stable equity growth and manageable leverage, reducing financial risk. Cash flow generation has improved, although maintaining stability in Free Cash Flow growth is crucial.

Income Statement

Manaksia Coated Metals & Industries Ltd has demonstrated solid revenue growth, with a notable increase in Total Revenue from 2020 to 2025. The Gross Profit Margin has been improving, reflecting effective cost management. The Net Profit Margin has also shown positive trends, although it remains modest, indicating room for improving profitability. The EBITDA Margin has strengthened, which suggests enhanced operational efficiency. Overall, the income statement reflects a robust growth trajectory with opportunities for further profitability enhancements.

Balance Sheet

The company's balance sheet shows a stable equity base, with Stockholders' Equity increasing over the years. The Debt-to-Equity Ratio indicates manageable leverage levels, with a decreasing trend in debt relative to equity, which reduces financial risk. The Return on Equity (ROE) has been improving, suggesting that the company is effectively using its equity to generate profits. However, the Equity Ratio shows moderate reliance on liabilities, suggesting potential risks if leverage increases significantly.

Cash Flow

The cash flow statement reveals fluctuating Free Cash Flow, with significant growth in recent years, showing improved cash generation capabilities. The Operating Cash Flow to Net Income Ratio indicates a solid conversion of earnings into cash, although the Free Cash Flow to Net Income Ratio has been volatile, reflecting variable capital expenditures. While the cash flow is on a positive trajectory, maintaining consistent Free Cash Flow growth remains a challenge.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	8.83B	7.82B	7.40B	6.52B	6.48B	4.46B
Gross Profit	2.12B	1.70B	921.99M	732.57M	1.56B	983.15M
EBITDA	924.46M	630.09M	523.93M	390.70M	385.10M	321.43M
Net Income	380.10M	153.88M	112.37M	93.59M	86.25M	58.53M
Balance Sheet
Total Assets	7.46B	6.46B	5.37B	5.48B	4.84B	4.39B
Cash, Cash Equivalents and Short-Term Investments	302.42M	256.87M	220.25M	201.27M	235.34M	150.17M
Total Debt	1.03B	1.42B	1.78B	1.90B	1.78B	1.47B
Total Liabilities	4.11B	4.19B	3.85B	4.29B	3.75B	3.39B
Stockholders Equity	3.35B	2.27B	1.52B	1.19B	1.09B	998.62M
Cash Flow
Free Cash Flow	-273.21M	82.62M	138.54M	-25.31M	-126.13M	127.32M
Operating Cash Flow	-149.36M	299.77M	215.67M	81.35M	-126.13M	195.67M
Investing Cash Flow	-115.10M	-203.49M	-61.89M	-79.96M	87.67M	-58.30M
Financing Cash Flow	257.27M	-101.02M	-156.02M	-56.19M	56.55M	-118.58M

Manaksia Coated Metals & Industries Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 131.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANAKCOAT, the sentiment is Negative. The current price of 131.1 is above the 20-day moving average (MA) of 118.84, above the 50-day MA of 123.76, and below the 200-day MA of 136.71, indicating a bearish trend. The MACD of -2.82 indicates Positive momentum. The RSI at 38.73 is Neutral, neither overbought nor oversold. The STOCH value of 16.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MANAKCOAT.

Manaksia Coated Metals & Industries Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KAMDHENU	76 Outperform	₹6.15B	8.45	―	1.07%	7.64%	15.01%
NELCAST	68 Neutral	₹10.50B	14.22	―	0.48%	0.43%	-23.95%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
KOTHARIPET	60 Neutral	₹6.15B	10.26	―	0.81%	-4.92%	1.29%
KUANTUM	60 Neutral	₹6.80B	20.52	―	3.24%	-9.47%	-54.96%
MANAKCOAT	58 Neutral	₹11.91B	47.42	―	0.04%	18.99%	96.30%
STEELXIND	54 Neutral	₹9.47B	131.21	―	―	5.31%	30.14%

Manaksia Coated Metals & Industries Ltd Corporate Events

Manaksia Coated Metals Schedules Q3 FY26 Earnings Call for February 4

Manaksia Coated Metals & Industries Ltd has announced that it will hold an earnings conference call on Wednesday, 4 February 2026 at 11:30 a.m. IST to discuss its financial results and performance outlook for the third quarter and nine months ended 31 December 2025, subject to board approval and formal declaration of the Q3 FY26 results. The call, organized in association with Kirin Advisors and featuring senior management including the whole-time director, chief financial officer and senior vice president, is aimed at analysts and institutional investors and underscores the company’s effort to enhance transparency and engagement with the market by providing detailed commentary on its quarterly performance and future outlook.

Manaksia Coated Metals Boosts Capacity With Strategic Aluminium-Zinc Line Upgrade

Manaksia Coated Metals & Industries Ltd has completed a strategic technology upgrade of its Continuous Galvanising Line, converting from conventional galvanised steel to aluminium-zinc coated steel while expanding installed capacity from 132,000 MTPA to 180,000 MTPA. The enhanced line, designed for higher speeds and improved operational capabilities, is expected to boost productivity, energy efficiency and coating cost optimisation per tonne, while delivering superior corrosion resistance and enabling the company to address growing demand for premium Alu-Zinc coated steel. By shifting further into higher-margin, value-added products and increasing scalability for both domestic and export markets, the upgrade is intended to strengthen the company’s EBITDA profile over the medium term and reinforce its competitive positioning in coated steel.