Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 155 | 119 | 153 | 156 | 95 | 142 | 190 | 201 | 244 | 298 | 310 | 302 |
| Expenses | 146 | 114 | 146 | 154 | 99 | 137 | 182 | 191 | 233 | 284 | 274 | 270 |
| Operating Profit | 8 | 5 | 7 | 3 | -3 | 5 | 8 | 10 | 11 | 14 | 37 | 33 |
| OPM % | 5% | 4.4% | 4.5% | 1.7% | -3.6% | 3.7% | 4.0% | 5.0% | 4.6% | 4.8% | 12% | 11% |
| Other Income | 4 | 6 | 4 | 4 | 9 | 0 | 1 | 3 | 1 | 3 | -2 | 4 |
| Interest | 0 | 3 | 4 | 2 | 1 | 2 | 3 | 3 | 4 | 2 | 7 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 |
| Profit before tax | 11 | 8 | 7 | 4 | 3 | 2 | 4 | 8 | 6 | 12 | 25 | 30 |
| Tax % | 23% | 21% | 20% | 37% | 22% | -50% | -5% | 23% | 29% | 25% | 27% | 26% |
| Net Profit | 9 | 6 | 5 | 2 | 2 | 3 | 4 | 6 | 4 | 9 | 19 | 22 |
| EPS in Rs | 1.32 | 0.94 | 0.80 | 0.36 | 0.36 | 0.41 | 0.66 | 0.97 | 0.61 | 1.39 | 2.86 | 3.42 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 289 | 334 | 494 | 689 | 488 | 388 | 505 | 641 | 632 | 584 | 1,053 | 1,154 |
| Expenses | 272 | 309 | 459 | 666 | 473 | 360 | 466 | 624 | 600 | 572 | 981 | 1,060 |
| Operating Profit | 17 | 25 | 35 | 23 | 14 | 28 | 39 | 17 | 32 | 12 | 72 | 95 |
| OPM % | 6% | 8% | 7% | 3.4% | 3.0% | 7% | 8% | 2.7% | 5% | 2.1% | 7% | 8% |
| Other Income | 1 | 2 | 2 | 2 | 3 | 6 | 8 | 7 | 18 | 14 | 4 | 5 |
| Interest | 2 | 4 | 4 | 3 | 2 | 1 | 1 | 2 | 7 | 8 | 16 | 17 |
| Depreciation | 7 | 8 | 7 | 5 | 6 | 6 | 6 | 5 | 5 | 5 | 9 | 11 |
| Profit before tax | 8 | 15 | 27 | 17 | 10 | 27 | 41 | 16 | 39 | 13 | 51 | 73 |
| Tax % | 39% | 37% | 37% | 38% | 11% | 27% | 27% | 23% | 22% | 7% | 26% | |
| Net Profit | 5 | 9 | 17 | 10 | 9 | 20 | 30 | 13 | 30 | 12 | 38 | 54 |
| EPS in Rs | 0.76 | 1.39 | 2.54 | 1.57 | 1.33 | 3.00 | 4.51 | 1.93 | 4.61 | 1.79 | 5.82 | 8.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 14% | 22% | 18% | 84% | ||
| Compounded Profit Growth | 23% | 15% | 49% | 245% | ||
| Stock Price CAGR | 29% | 29% | 34% | 88% | ||
| Return on Equity | 8% | 8% | 8% | 12% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves | 142 | 147 | 153 | 170 | 180 | 187 | 212 | 251 | 275 | 302 | 300 | 332 |
| Borrowings | 45 | 54 | 58 | 93 | 0 | 42 | 64 | 8 | 46 | 183 | 206 | 151 |
| Other Liabilities | 36 | 42 | 36 | 88 | 95 | 61 | 22 | 24 | 29 | 54 | 33 | 104 |
| Total Liabilities | 229 | 249 | 254 | 357 | 281 | 296 | 305 | 290 | 357 | 546 | 545 | 594 |
| Fixed Assets | 68 | 62 | 55 | 50 | 49 | 47 | 43 | 39 | 40 | 49 | 52 | 141 |
| CWIP | 1 | 1 | 2 | 3 | 0 | 2 | 0 | 5 | 7 | 32 | 93 | 33 |
| Investments | 0 | 0 | 0 | 32 | 42 | 35 | 49 | 77 | 154 | 234 | 152 | 110 |
| Other Assets | 160 | 186 | 197 | 273 | 190 | 212 | 212 | 168 | 155 | 231 | 248 | 311 |
| Total Assets | 229 | 249 | 254 | 357 | 281 | 296 | 305 | 290 | 357 | 546 | 545 | 594 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 95 | -5 | 10 | -15 | 101 | -6 | 34 | -2 | 29 | -49 | 13 | 62 |
| Cash from Investing Activity | -1 | -1 | -12 | -26 | -5 | -22 | -72 | 59 | -67 | -84 | -19 | 3 |
| Cash from Financing Activity | -87 | 7 | -1 | 31 | -96 | 39 | 21 | -57 | 35 | 131 | 12 | -70 |
| Net Cash Flow | 7 | 1 | -3 | -9 | 0 | 11 | -16 | 1 | -2 | -3 | 6 | -5 |
| Free Cash Flow | 93 | -6 | 9 | -18 | 99 | -9 | 34 | -9 | 21 | -88 | -53 | 25 |
| CFO/OP | 631% | -6% | 56% | -3% | 471% | -11% | 145% | 24% | 190% | -137% | 125% | 101% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 115 | 102 | 69 | 43 | 32 | 16 | 14 | 8 | 15 | 24 | 22 |
| Inventory Days | 87 | 80 | 67 | 112 | 45 | 76 | 98 | 75 | 60 | 92 | 96 | 63 |
| Days Payable | 30 | 40 | 22 | 67 | 50 | 43 | 12 | 8 | 8 | 6 | 14 | 21 |
| Cash Conversion Cycle | 120 | 155 | 148 | 113 | 38 | 64 | 102 | 81 | 61 | 101 | 105 | 64 |
| Working Capital Days | 71 | 85 | 87 | 53 | 44 | 45 | 22 | 94 | 33 | -20 | 6 | 19 |
| ROCE % | 6% | 5% | 9% | 12% | 8% | 5% | 10% | 14% | 6% | 11% | 4% | 13% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% | 74.75% |
| FIIs | 0.96% | 0.88% | 0.78% | 0.73% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Public | 24.29% | 24.37% | 24.48% | 24.52% | 24.61% | 24.63% | 24.62% | 24.62% | 24.62% | 24.63% | 24.61% | 24.61% |
| No. of Shareholders | 27,599 | 27,853 | 34,560 | 33,442 | 32,443 | 31,797 | 31,413 | 30,358 | 29,488 | 27,970 | 27,638 | 26,898 |
Fundamentals
Market Cap₹ 733 Cr.
Current Price₹ 113
Stock P/E13.5
Book Value₹ 51.7
ROCE13.4 %
ROE11.8 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)84%
Compounded Profit Growth (TTM)245%
Standalone figures.
Valuation
Market capRs 714 Cr
Enterprise valueRs 862 Cr
P/E (TTM)13.17x
Price to book2.11x
Price to sales0.62x
EV / EBITDA8.59x
EV / EBIT9.60x
EV / sales0.75x
Price to cash flow11.50x
Earnings yield7.60%
P/E, 3-year average14.94x
P/B, 3-year average1.01x
P/E, 5-year average14.57x
P/B, 5-year average0.99x
Profitability
Operating margin (excl. other income)6.86%
Operating margin (incl. other income)7.27%
EBITDA margin8.69%
Pre-tax margin6.35%
Net profit margin4.70%
Net margin, latest quarter7.41%
ROE11.83%
ROCE13.42%
ROA6.70%
ROE, 3-year average8.62%
ROCE, 3-year average9.60%
ROA, 3-year average5.18%
ROE, 5-year average8.60%
ROCE, 5-year average10.05%
ROA, 5-year average5.88%
ROIC (approx.)13.68%
Tax rate25.78%
Other income / net worth1.27%
Growth
Sales growth (latest year)80.29%
Profit growth (latest year)226.24%
Sales CAGR, 3 years17.97%
Sales CAGR, 5 years22.11%
Profit CAGR, 3 years44.50%
Profit CAGR, 5 years14.17%
Sales growth QoQ-2.53%
Profit growth QoQ19.62%
Sales growth YoY (latest quarter)50.37%
Profit growth YoY (latest quarter)252.44%
Per share
EPS (TTM)Rs 8.27
EPS (latest year)Rs 5.82
EPS (latest quarter)Rs 3.42
EPS, 3-year averageRs 4.07
EPS, 5-year averageRs 3.73
Book value per shareRs 51.72
Sales per shareRs 176.16
Cash flow per shareRs 9.47
Free cash flow per shareRs 3.81
Efficiency
Asset turnover1.77x
Fixed asset turnover7.48x
Inventory turnover6.27x
Inventory days58 days
Debtor days22 days
Debtors turnover16.40x
Creditor days21 days
Cash conversion cycle64 days
Working capital days19 days
Leverage
Total debtRs 151 Cr
Cash and bankRs 3 Cr
Net debtRs 148 Cr
Debt to equity0.45x
Net debt / EBITDA1.48x
Interest coverage5.42x
Current ratio (filing 2026-03-31)1.52x
Quick ratio (filing 2026-03-31)0.92x
Trade payables (filing 2026-03-31)Rs 48 Cr
Owners' fund to total sources57.02%
Debt to assets25.47%
Cash flow
Cash from Operating Activity (latest year)Rs 62 Cr
Cash from Investing Activity (latest year)Rs 3 Cr
Cash from Financing Activity (latest year)Rs -70 Cr
Net Cash Flow (latest year)Rs -5 Cr
Free cash flow (latest year)Rs 25 Cr
FCFE (approx.: FCF + change in debt)Rs -29 Cr
Cash from ops / profit, 5 years0.43x
Sales to cash flow16.97x
Statement figures
Net sales (TTM)Rs 1,154 Cr
Net sales (latest year)Rs 1,053 Cr
Sales (latest quarter)Rs 302 Cr
Operating profit excl. other income (latest year)Rs 72 Cr
Operating profit (latest quarter)Rs 33 Cr
Other income (TTM)Rs 5 Cr
EBITDA (TTM)Rs 100 Cr
PBDT (TTM)Rs 84 Cr
Profit before tax (TTM)Rs 73 Cr
Tax (latest year)Rs 13 Cr
Net profit (TTM)Rs 54 Cr
Net profit (latest year)Rs 38 Cr
Net profit (latest quarter)Rs 22 Cr
Depreciation (TTM)Rs 11 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 921 Cr
Total expenditure (latest year)Rs 981 Cr
Total income (latest year)Rs 1,058 Cr
Share capitalRs 7 Cr
ReservesRs 332 Cr
Shareholders' fundsRs 339 Cr
Total assetsRs 594 Cr
Net blockRs 141 Cr
Capital work in progressRs 33 Cr
InvestmentsRs 110 Cr
ReceivablesRs 64 Cr
InventoryRs 147 Cr
Other liabilitiesRs 104 Cr
Shares outstanding (crore)6.55
Ownership
Promoter holding74.75% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 13.2 is at the 52th percentile of its own 9.4-year range
(median 12.8, low 4.1, high 48.4).
P/B 2.11 is at the 97th percentile (median 1.02).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | MANAKSTEEL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +6.6% | -2.8% | +9.4 pts |
| 1 month | +4.6% | -6.8% | +11.4 pts |
| 3 months | +42.7% | -7.6% | +50.3 pts |
| 6 months | +136.8% | +0.4% | +136.4 pts |
| 1 year | +80.7% | -9.9% | +90.6 pts |
| 2 years | +60.3% | -13.6% | +73.9 pts |
| 3 years | +134.7% | +14.2% | +120.5 pts |
| 5 years | +241.9% | +27.9% | +214.0 pts |
Red flags
F-score 8 of 8| explain | Weak cash conversion Cash from operations was 32% of net profit over the last 3 years |
| look | On NSE surveillance On NSE surveillance: ESM |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹302 Cr +50.2% vs Jun 2025.
Net profit ₹22 Cr +266.7%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| JSW Steel Ltd | 311,160 | 25.8 | 11.0 % |
| Tata Steel Ltd | 234,690 | 19.8 | 12.5 % |
| Jindal Steel Ltd | 115,270 | 37.3 | 9.70 % |
| Steel Authority of India Ltd | 75,101 | 15.6 | 7.92 % |
| Jindal Stainless Ltd | 60,867 | 18.5 | 19.3 % |
| Sarda Energy & Minerals Ltd | 17,631 | 15.7 | 16.9 % |
| Vedanta Iron & Steel Ltd | 12,846 | % | |
| NMDC Steel Ltd | 12,247 | 146 | 3.06 % |
| Sandur Manganese & Iron Ores Ltd | 8,881 | 12.0 | 24.2 % |
| Jai Balaji Industries Ltd | 5,779 | 39.5 | 9.57 % |
| Prakash Industries Ltd | 2,178 | 6.96 | 9.56 % |
| Scan Steels Ltd | 304 | 13.4 | 7.05 % |
| KIC Metaliks Ltd | 108 | 33.6 | 4.01 % |
| Ankit Metal & Power Ltd | 27 | -34.2 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-11 | Annual General Meeting | |
| 2023-09-14 | Annual General Meeting | |
| 2022-09-19 | Annual General Meeting | |
| 2021-09-13 | Annual General Meeting | |
| 2020-09-21 | Annual General Meeting | |
| 2019-09-17 | Annual General Meeting | |
| 2018-09-18 | Annual General Meeting | |
| 2017-09-13 | Annual General Meeting | |
| 2016-09-15 | Anuual General Meeting | |
| 2015-09-15 | Annual General Meeting |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 1