Manaksia Steels Ltd (MANAKSTEEL) AI Stock Analysis

• Market Cap: ₹4.00B
• Dividend Yield: N/A
• Average Volume (3M): 2.10K
• Price to Earnings (P/E): 15.8
• Beta (1Y): 1.15
• Revenue Growth: 49.22%
• EPS Growth: 49.59%
• Country: IN
• Employees: 192
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 1.47
• Shares Outstanding: 65,534,050
• 10 Day Avg. Volume: 423
• 30 Day Avg. Volume: 2,098
• PEG Ratio: -0.51
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 0.51
• P/FCF Ratio: -5.65
• 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: 64 Neutral
• Price Target: ₹69.00 ▲(20.06% Upside)

The score is driven primarily by mixed financial performance, with stable balance sheet leverage offset by declining revenues/margins and negative free cash flow. Technicals are modestly supportive due to trading above key moving averages, but negative MACD limits the momentum outlook. Valuation appears reasonable at a mid-range P/E, with no dividend data available to add support.

Positive Factors

Value-added niche product mix

Manaksia's focus on coated and pre-painted steel creates a differentiated, value-added business model. Processing and finishing add margin and customer stickiness versus commodity steel, supporting steadier revenue streams and pricing power across cycles in construction-related end markets.

Stable gross margin / cost management

A stable gross margin suggests the company effectively manages input and process costs for its coating operations. Durable production economics provide a buffer against raw material volatility, helping sustain profitability and support reinvestment even when volumes fluctuate.

Manageable leverage and solid equity base

Moderate leverage and a strong equity ratio indicate a resilient balance sheet that can absorb cyclical downturns. This financial flexibility supports necessary capex and working capital funding without immediate pressure to restructure debt, preserving strategic optionality.

Negative Factors

Negative free cash flow

Negative free cash flow driven by elevated capex reduces internal funding capacity and raises reliance on external financing. Over months this can increase financing costs, limit organic expansion or product development, and heighten liquidity risk in a cyclical steel sector.

Declining revenues and margin pressure

Persistent revenue declines alongside compressing EBITDA and net margins indicate weakening demand, pricing pressure, or mix shift away from higher-value products. Sustained top-line and margin contraction undermines scale economics and long-term earnings sustainability.

Erosion in shareholders' equity and ROE

A falling equity base and lower ROE point to declining capital efficiency and retained earnings. This erosion reduces the cushion against future losses, may constrain dividends or growth investments, and signals potential longer-term pressure on shareholder returns.

Manaksia Steels Ltd Business Overview & Revenue Model

Company Description

Manaksia Steels Limited manufactures and sells secondary steel products primarily for housing, industry, and infrastructure sectors in India and internationally. The company offers cold rolled sheets used in interior and exterior panels of automobiles, buses, and commercial vehicles; galvanized corrugated sheets for use in the rural housing sector and factory buildings; and galvanized plain sheets used in the manufacture of containers and water tanks. It also provides color coated coils and sheets for sale to construction, housing, consumer durable, and other industries. The company also exports its products. Manaksia Steels Limited was incorporated in 2001 and is based in Kolkata, India.

How the Company Makes Money

Manaksia Steels generates revenue primarily through the sale of its steel products, which are supplied to various industries such as construction, automotive, and consumer goods. The company's revenue model is anchored on the production and distribution of galvanized and color-coated steel sheets, which are in high demand due to their durability and aesthetic appeal. Key revenue streams include direct sales to end-users, contracts with large construction firms, and partnerships with distributors and wholesalers. Additionally, fluctuations in steel prices in the global market can impact revenue, and the company may benefit from strategic alliances or joint ventures that enhance its market reach and operational efficiency.

Manaksia Steels Ltd Financial Statement Overview

Summary

Mixed fundamentals: revenue and profitability margins declined, while gross margin stayed stable. Balance sheet leverage looks manageable with a solid equity base, but negative free cash flow and weak cash conversion raise liquidity and funding risk.

Income Statement

Manaksia Steels Ltd has shown a mixed performance in terms of revenue growth and margins. The revenue has declined from the previous year, reflecting a challenging market environment. Despite this, the company maintains a positive net profit margin and EBITDA margin, although both have decreased compared to prior years. The gross profit margin remains stable, indicating efficient cost management.

Balance Sheet

The balance sheet reflects a stable financial position with a moderate debt-to-equity ratio, suggesting manageable leverage. The equity ratio is strong, indicating a solid asset base supported by equity. However, the decline in stockholders' equity over the past year could be a point of concern. The return on equity has decreased, reflecting the pressure on profitability.

Cash Flow

The cash flow statement shows a challenging year with negative free cash flow, primarily due to high capital expenditures. Operating cash flow has improved but remains relatively low compared to net income, indicating potential liquidity challenges. The company needs to focus on improving its cash generation to support future growth and debt servicing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.87B	6.34B	6.81B	7.42B	6.11B	5.02B
Gross Profit	1.20B	1.00B	1.05B	1.06B	1.40B	1.09B
EBITDA	333.63M	265.81M	530.03M	301.43M	613.58M	466.53M
Net Income	146.06M	97.50M	283.84M	121.85M	353.17M	265.43M
Balance Sheet
Total Assets	0.00	5.37B	5.20B	4.20B	3.50B	3.49B
Cash, Cash Equivalents and Short-Term Investments	1.35B	1.37B	1.75B	1.15B	375.50M	202.60M
Total Debt	0.00	2.06B	1.86B	488.68M	95.45M	670.46M
Total Liabilities	-2.89B	2.47B	2.20B	1.30B	840.49M	1.26B
Stockholders Equity	2.89B	2.89B	3.00B	2.90B	2.66B	2.23B
Cash Flow
Free Cash Flow	0.00	-573.67M	-908.70M	159.36M	-74.70M	349.35M
Operating Cash Flow	0.00	135.30M	-521.50M	241.57M	-5.64M	356.69M
Investing Cash Flow	0.00	-209.54M	-843.54M	-646.54M	572.34M	-707.33M
Financing Cash Flow	0.00	91.65M	1.30B	354.41M	-591.92M	47.50M

Manaksia Steels Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 57.47
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANAKSTEEL, the sentiment is Negative. The current price of 57.47 is below the 20-day moving average (MA) of 61.38, below the 50-day MA of 63.11, and below the 200-day MA of 61.89, indicating a bearish trend. The MACD of -0.95 indicates Negative momentum. The RSI at 47.54 is Neutral, neither overbought nor oversold. The STOCH value of 67.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MANAKSTEEL.

Manaksia Steels Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MAHASTEEL	66 Neutral	₹12.00B	118.53	―	―	11.83%	124.74%
MANAKSTEEL	64 Neutral	₹4.00B	15.81	―	―	49.22%	49.59%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANORG	55 Neutral	₹3.94B	16.29	―	―	22.53%	237.55%
BEDMUTHA	54 Neutral	₹4.32B	-8,481.01	―	―	34.36%	-100.15%
VIKASECO	52 Neutral	₹2.92B	30.05	―	―	7.61%	-50.76%
KANORICHEM	45 Neutral	₹3.11B	-4.77	―	―	-1.30%	-27.85%

Manaksia Steels Ltd Corporate Events

Manaksia Steels Reports Robust Growth Amid Seasonal Slowdown

Manaksia Steels Limited reported significant growth in its financial performance for the quarter and half-year ending September 30, 2025, despite industry-wide slowdowns due to seasonal factors. The company achieved over 150% year-on-year growth in sales, driven by expanded capacity and stronger market outreach. The newly commissioned Aluzinc-Coated Steel Line contributed to increased volumes and profitability, with expectations of margin recovery in upcoming quarters.

Manaksia Steels Opens Special Window for Physical Share Transfers

Manaksia Steels Ltd has announced the opening of a special window for the re-lodgement of transfer requests for physical shares, as per the regulations of the Securities and Exchange Board of India. This initiative aims to facilitate shareholders in managing their physical share transfers more efficiently, reflecting the company’s commitment to adhering to regulatory requirements and enhancing shareholder services.