Manaksia Steels Ltd
MANAKSTEELManaksia Steels Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: profits are rising, but only 31% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (12 weeks in) while the P/E sits at the 60th percentile of its own 8-year range. Underneath, the last four quarters read improving — profit +280.0% year on year, and 31% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Manaksia Steels Ltd trades at ₹84.4, in a confirmed uptrend and 12 weeks into that stage. That is +27.6% against its own 200-day average. It sits at 100% of a 52-week range of ₹66 to ₹84. On relative strength it has no relative-strength read yet.
Today the stock is in a confirmed uptrend — week 12 of stage 2, confirmed. At ₹84.4 it trades +27.6% versus its 200-day average and sits at 100% of its 52-week range (₹66–₹84).
Against the market, two honest reads. Cumulative: over the last 2 months the stock moved +29% while the NIFTY 500 moved +5% — ahead of the index over the full window. Recent form: no trailing-13-week read yet — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Manaksia Steels Ltd trades at 13.9× P/E, mid-range by its own standards (60th percentile). Its long-run median P/E is 12.8×, measured across 8.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 13.9× is mid-range by its own standards (60th percentile), against a long-run median of 12.8× measured over 8.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Manaksia Steels Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 6 quarters ago at −80.0% and has held its recovery at +280.0% (single-quarter readings), ROCE lifting at 14.0%. The read is built from 9 quarters across 3 curves, on partial evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +78.4% | +15.1% | +17.5% | — |
| Profit | +300.0% | +49.4% | +8.2% | — |
| EPS | +308.7% | +48.5% | +8.5% | — |
4-Factor Sector Score
66.4/100 — rank 1 of 10 in Steel · 63% evidence confidence
Manaksia Steels Ltd scores 66.4 out of 100 against the 10 companies it is compared with in Steel, ranking 1. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 28.5 + 14.3 + 11.9 + 11.7 = 66.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Manaksia Steels Ltd reported ₹333 Cr of revenue in the Mar 26 quarter, +63.2% year on year. That is the 6th straight quarter of year-on-year growth. Over 8 years it has compounded at 10.7% a year. The last full year, FY26, came in at ₹1,131 Cr. The last four reported quarters add to ₹1,131 Cr.
FY26 revenue came in at ₹1,131 Cr (+78.4% on the year), capping 8 years at 10.7% compound. The latest quarter (Mar 26) printed ₹333 Cr, +63.2% year on year — the 6th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +86.6% growth against the decade's 10.7% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +78.7% over the last 4 quarters against +28.9%/yr over the last 8 — accelerating; TTM profit +290.0% vs +16.0%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Manaksia Steels Ltd's operating margin is 11.0% in the Mar 26 quarter, +6.6 percentage points against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 2.3% to 9.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 11.0%, +6.6 pp against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 2.3%–9.0%.
Why the margin moved: operating margin went +7.0 pp year on year while gross margin went +7.6 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Manaksia Steels Ltd earned ₹19.0 Cr of net profit in the Mar 26 quarter, +280.0% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹40.0 Cr. The 8-year compound rate is 12.1%. That is 5.7% of the quarter's revenue. The same quarter a year earlier earned ₹5.0 Cr.
Mar 26 profit was ₹19.0 Cr, +280.0% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹40.0 Cr (+300.0%), and the 8-year compound rate is 12.1%.
Why profit moved: revenue contributed +63.2% and the margin +6.6 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +295.0% vs revenue +86.6%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 31% of Manaksia Steels Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹62.0 Cr of operating cash against ₹40.0 Cr of profit. After ₹41.0 Cr of capital spending, ₹21.0 Cr was left as free cash.
FY26: operating cash of ₹62.0 Cr against reported profit of ₹40.0 Cr, leaving free cash of ₹21.0 Cr after ₹41.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 31% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 31%: the cash cycle tightened 26 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 5.4× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Manaksia Steels Ltd's cash conversion cycle runs 62 days in FY26, down from 88 days in FY21. Capital spending ran ₹130 Cr over the last 3 years. At FY26 sales of ₹1,131 Cr each day of that cycle holds about ₹3.1 Cr, so roughly ₹192 Cr sits inside the business at any moment.
FY26: debtors at 21 days, inventory at 63 days — roughly 2.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 62 days, tighter than FY21's 88.
The full loop: cash goes out to suppliers and production on day 0; stock waits 63 days to sell; customers pay about 21 days after that; and suppliers themselves are paid at 22 days — netting out to the 62-day cycle.
In money terms: at FY26 sales of ₹1,131 Cr, each day of the cycle holds about ₹3.1 Cr — so the 62-day loop keeps roughly ₹192 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹130 Cr over the last 3 fiscal years against ₹24.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹33.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Manaksia Steels Ltd earns a ROCE of 14% in FY26. That is up from a trough of 4% in FY25. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 3.5% net margin on 1.91× asset turns.
FY26 ROCE is 14%, recovered from a FY25 trough of 4% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 3.5% net margin × 1.91× asset turns × 1.82× balance-sheet leverage ≈ 12.2% on equity. Margin does its share; leverage is a meaningful part of the equation.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Manaksia Steels Ltd carries ₹151 Cr of borrowings against ₹326 Cr of equity in FY26, a debt-to-equity of 0.46. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹67.0 Cr to ₹151 Cr. Capital spending ran ₹130 Cr across the last 3 of those years.
FY26: borrowings of ₹151 Cr against equity of ₹326 Cr — a debt-to-equity of 0.46. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹67.0 Cr to ₹151 Cr while capital spending ran ₹130 Cr in just the last 3 — part of the build-out is riding on borrowed money.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Manaksia Steels Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 74.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −0.7 points over 8 quarters to 0.0%; Promoters: +0.0 points over 8 quarters to 74.8%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Manaksia Steels Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Manaksia Steels Ltdthis pageMANAKSTEEL | 66.4/100Favorable setup63% evidence | 28.5/35 Revenue 78.7% · PAT 100% · OPM change 6.6 pp 83% evidence | 14.3/25 ROCE 14.4% · OPM 11% 76% evidence | 11.9/20 P/E 13.9× · PEG — 50% evidence | 11.7/20 RS sector — · RS bench 29.7% · 1Y — 25% evidence | |
| Exact sum: 28.5 + 14.3 + 11.9 + 11.7 = 66.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2JSW Steel LtdJSWSTEEL | 58.9/100Mixed-positive evidence75% evidence | ASLEEP | 23.8/35 Revenue 12.2% · PAT 100% · OPM change 3 pp 95% evidence | 13.4/25 ROCE 11% · OPM 20% 76% evidence | 9.3/20 P/E 26.4× · PEG — 15% evidence | 12.4/20 RS sector -4.4% · RS bench 6.4% · 1Y 26.4%2 of 12 weeks ahead 100% evidence |
| Exact sum: 23.8 + 13.4 + 9.3 + 12.4 = 58.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Steel Authority of India LtdSAIL | 53.2/100Mixed-positive evidence100% evidence | ASLEEP | 15.9/35 Revenue 6.5% · PAT 40.8% · OPM change 5 pp 100% evidence | 8.6/25 ROCE 7.8% · OPM 16% 100% evidence | 14.2/20 P/E 15.1× · PEG 0.74 100% evidence | 14.5/20 RS sector 1.3% · RS bench 11.8% · 1Y 47%7 of 12 weeks ahead 100% evidence |
| Exact sum: 15.9 + 8.6 + 14.2 + 14.5 = 53.2 · Decision use: Price leads the evidence: RS versus the benchmark is 11.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 4Mangalam Worldwide LtdMWL | 52.7/100Mixed-positive evidence87% evidence | ASLEEP | 22.9/35 Revenue 12.6% · PAT 57.6% · OPM change 3 pp 95% evidence | 15.8/25 ROCE 17.7% · OPM 9% 95% evidence | 9.0/20 P/E 24.2× · PEG — 50% evidence | 5.0/20 RS sector -82.9% · RS bench 44.5% · 1Y -76.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 22.9 + 15.8 + 9 + 5 = 52.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -82.9% and the one-year return is -76.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 5NMDC Steel LtdNSLNISP | 51.9/100Mixed-positive evidence71% evidence | ASLEEP | 25.4/35 Revenue 60.4% · PAT 100% · OPM change 31 pp 65% evidence | 9.5/25 ROCE 3.1% · OPM 21% 100% evidence | 8.5/20 P/E 219× · PEG — 15% evidence | 8.5/20 RS sector -9.6% · RS bench 1.1% · 1Y 20.9%7 of 12 weeks ahead 100% evidence |
| Exact sum: 25.4 + 9.5 + 8.5 + 8.5 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Tata Steel LtdTATASTEEL | 43.8/100Mixed-negative evidence93% evidence | ASLEEP | 19.6/35 Revenue 10.5% · PAT 100% · OPM change 1 pp 100% evidence | 10.8/25 ROCE 12.5% · OPM 15% 100% evidence | 10.2/20 P/E 19.8× · PEG 1.74 65% evidence | 3.2/20 RS sector -11.9% · RS bench -2.2% · 1Y 22.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 19.6 + 10.8 + 10.2 + 3.2 = 43.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Mukand LtdMUKANDLTD | 41.9/100Mixed-negative evidence83% evidence | ASLEEP | 12.1/35 Revenue 0% · PAT 100% · OPM change -7.4 pp 83% evidence | 5.4/25 ROCE 4.4% · OPM -1.4% 95% evidence | 12.1/20 P/E 30× · PEG — 50% evidence | 12.3/20 RS sector -6.3% · RS bench 4.8% · 1Y 1.9%4 of 12 weeks ahead 100% evidence |
| Exact sum: 12.1 + 5.4 + 12.1 + 12.3 = 41.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Safe Enterprises Retail Fixtures LtdSAFEENTP | 55.1/100Thin evidence · provisional50% evidence | FADING | 15.2/35 Revenue — · PAT — · OPM change 1 pp 26% evidence | 21.7/25 ROCE 47% · OPM 35% 95% evidence | 10.8/20 P/E 18× · PEG — 15% evidence | 7.4/20 RS sector -8.8% · RS bench 1.3% · 1Y 13.8%8 of 12 weeks ahead 70% evidence |
| Exact sum: 15.2 + 21.7 + 10.8 + 7.4 = 55.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 9Rajputana Stainless LtdRSL | 53.7/100Thin evidence · provisional38% evidence | TURNING | 16.2/35 Revenue — · PAT — · OPM change 2 pp 32% evidence | 17.9/25 ROCE 25.2% · OPM 9% 95% evidence | 9.6/20 P/E 25.6× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —1 of 4 weeks ahead 0% evidence |
| Exact sum: 16.2 + 17.9 + 9.6 + 10 = 53.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 10India Homes LtdISIBARS | 49.2/100Thin evidence · provisional41% evidence | FADING | 18.2/35 Revenue -80% · PAT 48.3% · OPM change 190.8 pp 27% evidence | 6.8/25 ROCE -19% · OPM — 46% evidence | 10.0/20 P/E — · PEG — 0% evidence | 14.2/20 RS sector 26.1% · RS bench 37.6% · 1Y 127%11 of 12 weeks ahead 100% evidence |
| Exact sum: 18.2 + 6.8 + 10 + 14.2 = 49.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Manaksia Steels Ltd's share price today?
Manaksia Steels Ltd trades at ₹84.4. The company is valued at ₹553 Cr. The stock sits at 100% of its 52-week range of ₹66–₹84, +27.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 12 weeks in. — as of 7 August 2026.
What were Manaksia Steels Ltd's latest quarterly results?
Manaksia Steels Ltd reported revenue of ₹333 Cr and net profit of ₹19.0 Cr for the Mar 26 quarter. Revenue rose 63.2% and profit rose 280.0% year on year. Earnings per share were ₹2.95. The operating margin was 11.0%, 6.6 pp higher than a year earlier. — as of 7 August 2026.
What is Manaksia Steels Ltd's revenue?
Manaksia Steels Ltd reported revenue of ₹333 Cr in the Mar 26 quarter, +63.2% year on year. For the full FY26 fiscal year, revenue was ₹1,131 Cr (+78.4%). Over the last 8 years revenue compounded at 10.7% a year. — as of 7 August 2026.
What is Manaksia Steels Ltd's profit?
Manaksia Steels Ltd earned ₹19.0 Cr of net profit in the Mar 26 quarter, +280.0% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹40.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 7 August 2026.
What is Manaksia Steels Ltd's market cap?
Manaksia Steels Ltd's market capitalisation is ₹553 Cr at a share price of ₹84.4. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 7 August 2026.
What is Manaksia Steels Ltd's P/E ratio?
Manaksia Steels Ltd trades at a P/E of 13.9×, at the 60th percentile of its own 8-year range, against a long-run median of 12.8×. This is a comparison with the stock's own history, not a value call — as of 7 August 2026.
Does Manaksia Steels Ltd pay a dividend?
No — Manaksia Steels Ltd has recorded a dividend payout of 0% of profit in each of its last 9 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 7 August 2026.
Is Manaksia Steels Ltd overvalued?
On its own history, Manaksia Steels Ltd looks mid-range against its own history: its P/E of 13.9× sits at the 60th percentile of its 8-year range (long-run median 12.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 7 August 2026.
Is Manaksia Steels Ltd growing?
Yes — Manaksia Steels Ltd is growing: latest-quarter revenue +63.2% year on year, profit +280.0%, and the margin +6.6 pp at 11.0%. The 8-year compound rates are 10.7% (revenue) and 12.1% (profit). The earnings engine currently reads: improving — as of 7 August 2026.
How is Manaksia Steels Ltd performing?
Manaksia Steels Ltd is in a confirmed uptrend, 12 weeks in. Its latest quarter's revenue rose 63.2% and profit rose 280.0% year on year. This describes what the data did, not a rating. — as of 7 August 2026.
What stage is Manaksia Steels Ltd in?
Improving — profit growth bottomed 6 quarters ago at −80.0% and has held its recovery at +280.0% (single-quarter readings), ROCE lifting at 14.0%. The read comes from the last 12 quarters of growth (revenue growth +63.2% latest, profit growth +280.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 7 August 2026.
Is Manaksia Steels Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 12 of stage 2), trading +27.6% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 7 August 2026.
Will Manaksia Steels Ltd's share price go up?
This page publishes no price forecast for Manaksia Steels Ltd. What it measures instead: the share price is ₹84.4, the price is in a confirmed uptrend 12 weeks in. Its P/E of 13.9× sits at the 60th percentile of its own 8-year range. — as of 7 August 2026.
Who owns Manaksia Steels Ltd?
Promoters hold 74.8% of Manaksia Steels Ltd, foreign institutions 0.0%, domestic institutions null% and the public 24.6% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 7 August 2026.
Does Manaksia Steels Ltd have too much debt?
It is moderate — Manaksia Steels Ltd's debt-to-equity is 0.46, and operating profit covers the interest bill 5×. FY26 borrowings were ₹151 Cr against equity of ₹326 Cr. Read the returns on this page with that leverage in mind — as of 7 August 2026.
What is Manaksia Steels Ltd's capex?
Manaksia Steels Ltd spent ₹130 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹41.0 Cr, with ₹33.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 7 August 2026.
What is Manaksia Steels Ltd's cash flow?
Manaksia Steels Ltd generated ₹62.0 Cr of operating cash flow in FY26 and ₹21.0 Cr of free cash flow after ₹41.0 Cr of capital spending. Reported profit that year was ₹40.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 7 August 2026.
Is Manaksia Steels Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 31% of Manaksia Steels Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹62.0 Cr against reported profit of ₹40.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 7 August 2026.
Where is Manaksia Steels Ltd in its business cycle?
Manaksia Steels Ltd's FY26 operating margin was 7.0%, against a 9-year band of 2.3%–9.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 7 August 2026.
What could break the Manaksia Steels Ltd story?
The sharpest disagreement: profits are rising, but only 31% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 7 August 2026.
Is Manaksia Steels Ltd a stock worth studying right now?
This is not investment advice. The machine read: Manaksia Steels Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 7 August 2026.