Annual reportSep 2026
Sep 2026 · Letter To The Shareholders For Annual Report Web-Link 4 Sep - Annual Report and AGM notice for FY2025-26 sent; 25th AGM on 23 September 2026 via VC/OAVM.
Source: Bse
Manaksia Steels Limited (MANAKSTEEL)
Small CapMetals stocks · Small cap · NSE
Manaksia Steels Limited operates in Minerals, within the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:13 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Metals P/E 23.2 (n=92)
Technical timing lens
Trend score and candlestick chart
67Bullishfull bull SMA stack · SMA20 +6.4% / mo · MACD − · near 52W high
Stock trend: 78
Sector RS: 50
Sector 3M: -4.5% vs Nifty 500 -5.6%
Metals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MANAKSTEELD candles · FIT view+51.3%Latest close ₹114.40 on 2026-10-19
Bar
+3.0%
RSI
60
MACD hist
-0.21
52W pos
92%
2026-10-19O ₹111.06H ₹115.00L ₹111.06C ₹114.40Vol 23,382 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MANAKSTEELNifty MetalNifty 500
- MANAKSTEEL
- +50.4%
- Nifty 500
- -5.6%
- Nifty Metal
- -3.8%
- Vs Nifty 500
- +55.9 pp
Chart stats
19 Oct 2026- From 52W high
- -5.3%
- 52W range position
- 92%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.70x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹100 - ₹116
₹120.8
₹45.1 - ₹120.8
₹5.8
Latest completed session
20-session average
47.4% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED62
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +50.7% · PAT +283.3% YoY
Technical
Bullish67
Price trend and sector-relative-strength timing.
Valuation
Legacy model+57.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence82
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +51% YoY · PAT +283% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹327 Cr | +50.7% | -1.8% |
| EBITDA | ₹34 Cr | +209.1% | -10.5% |
| Operating margin | 10.0% | +510 bps | -100 bps |
| PAT | ₹23 Cr | +283.3% | +21.1% |
| PAT margin | 7.0% | +427 bps | +132 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.40
- P/B
- 2.09
- EV/EBITDA
- 7.63
- Market Cap
- 696.00Cr
Profitability
- ROE
- 13.00%
- ROCE
- 14.40%
- ROA
- 9.44%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 10.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 53.00%
Balance Sheet
- Debt/Equity
- 0.46
- Interest Coverage
- 5.82×
- Altman Z
- 5.16
- Book Value
- 49.70
Cash Flow
- FCF Yield
- 9.34%
- FCF Positive Y
- 3/5
- OCF
- 62.00 Cr
- EPS TTM
- 8.57
Shareholding
- Promoter Hold
- 74.75%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 77%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,131+78.4% vs prev
Net Profit
₹ CrLatest: 40.0+300.0% vs prev
Return on Equity
%Latest: 12.3+255.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 60.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~6.1% over last month) — short-term momentum positive.
- RSI(14) at 60 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 5% off 52W high · 154% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
94
RS percentile
Stage 2 UptrendEstablished S2
1M return
+6.3%
3M return
+50.4%
6M return
+37.1%
1Y return
+98.7%
RS 1D
+1
RS 20D
0
Sector rank
#4
Industry rank
#14
Stage evidence
- Price is 45.2% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +9.8%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
26 May 2026
S2 age
103 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 197.13+4.10%
RS vs Nifty 500197
Valuation & peers
U-Score 62 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 62 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · UNDERVALUEDValuation20/30
Growth17/25
Quality5/20
Balance Sheet8/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
62
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
62/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 9.3%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 57.2%.
Main drags
- Quality is weaker at 5/20; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
- Valuation is weaker at 20/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
12.4
PB
2.1
EV/EBITDA
7.6
ROE
13.0%
ROCE
14.4%
FCF Yield
9.3%
Debt/Equity
0.5
MoS
+57.2%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
62
Previous: 62
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+57.2%
Previous: +57.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
62
62
62
62
62
62
62
62
62
62
62
62
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹97.89
-16.9% MoS
Growth-justified P/E
31.2
Growth-justified Value
₹267.56
+57.2% MoS
PEG
0.78
Comparable companies
Peers
Business-comparable peers in Metals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
PRADPME
Small
Pradeep Metals Limited
Mining
match 95
47
24.5
20.3%
+5%
FAIR VALUE
SHIVAUM
Small
Shiv Aum Steels Limited
Mining
match 94
27
80.2
6.1%
-129%
OVERVALUED
RAMASTEEL
Small
Rama Steel Tubes Limited
Mining
match 94
18
55.3
2.8%
-609%
OVERVALUED
MAANALU
Small
Maan Aluminium Limited
Mining
match 94
25
829.0
2.9%
-1927%
OVERVALUED
VRAJ
Small
Vraj Iron and Steel Limited
Mining
match 94
64
11.2
7.8%
+67%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Manaksia Steels Limited operates in Minerals, within the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
82Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 94th percentile of the scored universe and 95th percentile within Metals. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
3 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
94th percentile
overall median 67 · Metals: 95th pctile, median 70 · Small: 96th pctile, median 66
Evidence depth
Financial-only
3 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
76
strong · capital discipline
Results
82
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 74.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 9.3%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Manaksia Steels Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Notice Of 25Th Annual General Meeting Scheduled To Be Held On 23Rd September, 2026 27 Aug - Annual Report FY2025-26 and AGM notice issued; AGM on 23 September 2026 via VC/OAVM.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Aug - Newspaper Publication regarding 25th Annual General Meeting of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Aug - Newspaper publication regarding Special Window for Transfer and Dematerialization of Physical Securities
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 18 Jun - ICRA assigned [ICRA]A (Stable) on Rs 60 crore and [ICRA]A1 on Rs 440 crore facilities.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Jun - Newspaper publication regarding Special Window for Transfer and Dematerialization of Physical Securities
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Announcement
Key Financial Highlights On Audited Financial Results For The Quarter And Year Ended 31St March, 2026 22 May - Manaksia Steels reported FY26 results, added 25% CCL capacity, and planned ₹100 crore cold rolling mill.
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.