# Manaksia Steels share price today (Manaksia Steels Ltd, NSE: MANAKSTEEL)

> Manaksia Steels share price today: ₹117.53 at the NSE close on 3 November 2026. Manaksia Steels (NSE: MANAKSTEEL) is worth ₹773 crore and trades at a P/E of 13.8. > Manaksia Steels Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. MANAKSTEEL · Steel · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/manaksia-steels-ltd

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Turning around, from the last 12 quarters
- Price: ₹117.53
- P/E: 13.8× (higher than 60% of the last 8.4 years)
- Revenue (Jun 2026): ₹327 Cr (+50.7% on a year ago)
- Profit (Jun 2026): ₹23.0 Cr (+283.3% on a year ago)
- Operating margin: 10.0% (+5.1 points on a year ago)
- ROCE: 14%, FY26
- ROIC: 15.9%, against a 12.0% cost of capital: +3.9 points

The main question: profits are rising, but only 31% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Manaksia Steels share price today? Manaksia Steels Ltd's share price was ₹117.53 at the close on 3 November 2026. It has been rising for 24 weeks. That is 42.5% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 13 weeks in a row. Since its first close in our records, on 22 May 2026, it has traded between ₹66 and ₹118, and at that close it sat 99% of the way up from that low. Over the last 5 months the share price moved +79% while the NIFTY 500 moved −3%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Manaksia Steels this quarter? Three changes stood out: revenue up on a year earlier for 7 quarters in a row, highest quarterly profit in 14 quarters and profit up on a year earlier for 5 quarters in a row. 1. Revenue up on a year earlier for 7 quarters in a row In the June 2026 quarter revenue was ₹327 crore, +50.7% on a year earlier. 2. Highest quarterly profit in 14 quarters Profit of ₹23 crore in the June 2026 quarter is the highest of the last 14 quarters. 3. Profit up on a year earlier for 5 quarters in a row In the June 2026 quarter profit was ₹23 crore, +283.3% on a year earlier. ## What are Manaksia Steels' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Manaksia Steels reported revenue of ₹327 crore, up 50.7% from ₹217 crore a year earlier, and a profit of ₹23.0 crore, up 283.3% from ₹6.00 crore. ### Manaksia Steels results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹327 crore | ₹217 crore | +50.7% |
| Profit | ₹23.0 crore | ₹6.00 crore | +283.3% |
| Earnings per share | ₹3.46 | ₹0.99 | +249.5% |
| Operating margin | 10.0% | 4.9% | +5.1 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Manaksia Steels share price history? Manaksia Steels closed at ₹117.53 on 3 November 2026. Its highest weekly close since May 2026 was ₹117.91 on 11 September 2026. ### Manaksia Steels share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹102.82 | +14.3% |
| 1 month ago · 1 Oct 2026 | ₹108.89 | +7.9% |
| 6 months ago · 22 May 2026 | ₹65.64 | +79.1% |
| Earliest and lowest weekly close in our records · 22 May 2026 | ₹65.64 | +79.1% |
| Highest weekly close since May 2026 · 11 Sep 2026 | ₹117.91 | −0.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (26 weekly closes from 22 May 2026 to 3 November 2026.)

## What is the latest news on Manaksia Steels? 3 Nov 2026: Manaksia Steels closed at ₹117.53, up 14.3% on the week and up 7.9% on the month. Results for April to June 2026: Revenue up 50.7% and profit up 283.3% on a year earlier. ## What dividend does Manaksia Steels pay? Manaksia Steels has paid no dividend on the NSE since its first NSE close in our records (22 May 2026), the start of the period we checked. No. Manaksia Steels Ltd paid out 0% of its profit as dividends in each of its last 9 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What is the future of Manaksia Steels? What is changing in the business? What is changing at Manaksia Steels, from the latest results and calls: capacity expansion ramp-up and operating leverage. - Capacity Expansion Ramp-up. Recent multi-year capital expenditure is now driving sharp top-line acceleration. ⚠ estimate
- Operating Leverage. Operating margin breaking out of its historical band as capacity utilization improves. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 19 July 2026.)

## What could change the Manaksia Steels story? What are the risks? A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. ### Each change stops working if

- Capacity Expansion Ramp-up: Revenue growth decelerates, signaling peak utilization of the new capacity. ### The main risks

- Weak Cash Conversion (Debt-Funded Growth): Multi-year cash flow significantly lags reported profit, with debt plugging the gap. ✓ fact
- Zero Qualitative Visibility: Complete absence of management concalls or forward guidance. ⚠ estimate

(Our read after the latest results, written 19 July 2026.)

## What to watch in Manaksia Steels' next results? When Manaksia Steels reports July to September 2026, these are the 2 checks that show whether the story is still on course. First: Operating cash flow generation in the upcoming half-year results. | What to check | Why |
| --- | --- |
| Operating cash flow generation in the upcoming half-year results. | Weak Cash Conversion (Debt-Funded Growth) |
| Unexpected margin compression in the next quarterly print. | Zero Qualitative Visibility |

## Which stock lists is Manaksia Steels on? Manaksia Steels is on 2 of our India lists: Momentum stocks and Copper & metal stocks. - [Momentum stocks Market cap cr: 745.4639460806943](https://www.sectoralpha.in/momentum-stocks-india)
- [Copper & metal stocks Group on the list: Steel, stainless steel and ferro alloys](https://www.sectoralpha.in/copper-stocks-india)

## Is Manaksia Steels profitable? Manaksia Steels Ltd earned ₹23.0 Cr of net profit in the Jun 2026 quarter, +283.3% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹40.0 Cr. Over 8 years profit has grown 12.1% a year on average. That is 7.0% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr. For the full year, FY26 profit was ₹40.0 Cr (+300.0% on the year before). Why profit moved: revenue changed +50.7% on a year earlier and the margin moved +5.1 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +315.8% and revenue +91.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q3. Revenue nearly doubled against the base quarter, while operating margin stabilized. The aggressive top-line growth indicates the new asset base is being sweated effectively. Without concalls, the market remains largely unaware of the operational turnaround happening beneath the surface. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much revenue does Manaksia Steels make, and is it growing? Manaksia Steels Ltd reported ₹327 Cr of revenue in the Jun 2026 quarter, +50.7% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 8 years it has grown 10.7% a year on average. The last full year, FY26, came in at ₹1,131 Cr. Why this happened. The primary structural driver is the completion and ramping up of the debt-funded capacity addition over the last three fiscal years. This asset base expansion is directly visible in the most recent fiscal year's revenue trajectory, which accelerated consistently through consecutive quarters. The last four reported quarters add to ₹1,241 Cr. FY26 revenue was ₹1,131 Cr, +78.4% on the year before. Recent pace: the last four quarters grew +91.4% on average, against 10.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +81.2%, against +40.6% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +300.0%, against +63.3% a year (accelerating). FY26-Q3. Revenue nearly doubled against the base quarter, while operating margin stabilized. The aggressive top-line growth indicates the new asset base is being sweated effectively. Without concalls, the market remains largely unaware of the operational turnaround happening beneath the surface. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Manaksia Steels keep? Manaksia Steels Ltd's operating margin was 10.0% in the Jun 2026 quarter, 5.1 percentage points higher than the same quarter a year ago. Across 9 years it has been between 2.3% and 9.0%. The latest quarter is above every full year in that period. Why this happened. With the new capacity coming online, fixed costs are being absorbed over a larger revenue base. The latest quarter saw operating margins step up significantly from the historical average, pushing bottom-line profitability disproportionately higher. Why the margin moved: operating margin changed +5.3 percentage points on the year while gross margin changed +5.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged. FY26-Q3. Revenue nearly doubled against the base quarter, while operating margin stabilized. The aggressive top-line growth indicates the new asset base is being sweated effectively. Without concalls, the market remains largely unaware of the operational turnaround happening beneath the surface. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## Is Manaksia Steels' profit turning into cash? Over the last 3 years, 31% of Manaksia Steels Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹62.0 Cr of operating cash against ₹40.0 Cr of profit. After ₹41.0 Cr of spending on assets, ₹21.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 31% of profit came in as cash: the cash cycle got 26 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 5.4× depreciation over three years. The next section checks what that spending is building. ## Where does Manaksia Steels' cash go? Manaksia Steels Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 62 days in FY26, down from 88 days in FY21. It spent ₹130 Cr on assets over the last 3 years. Customers take 21 days to pay, and stock sits for 63 days on average. At FY26 sales of ₹1,131 Cr, each day of that cycle ties up about ₹3.1 Cr, so roughly ₹192 Cr is tied up in the business at any time. FY26: customers took 21 days to pay and stock sat for 63 days, about 2.1 months of sales sitting as stock, for a full cycle of 62 days, shorter than FY21's 88. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 63 days. Customers pay about 21 days after that. Suppliers are paid at 22 days. Together that makes the 62-day cycle. Spending on assets: ₹130 Cr over the last 3 years, against ₹24.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹33.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Manaksia Steels' P/E ratio, and how does it compare with its own history? Manaksia Steels Ltd's P/E is 13.8×, in the middle of its own history: higher than 60% of past readings. Its usual P/E (the middle reading) is 12.7×, over 8.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Manaksia Steels share price assume? Worked out from its price on 20 July 2026, Manaksia Steels Ltd's share price assumed profit growth of about 5.3% a year. Over the past 8 years its profit actually grew 12.1% a year. Today its P/E is 13.8×, higher than 60% of its own last 8.4 years. This is a one-day reading, taken on 20 July 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Manaksia Steels business getting better or worse? Manaksia Steels Ltd's business is turning around. Profit growth has swung from −65.5% at its low to +300.0%, improving for 5 quarters in a row, with ROCE rising at 28.8%. This is based on 12 quarters of 4 measures. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. ## What is the Manaksia Steels story, and has it been checked? Manaksia Steels Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: EARLY EXPANSION TO MID. Still open: A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. Our read, 19 July 2026. From the numbers. The compression is entirely earnings-driven as the new capacity came online and profitability spiked. The…

From the price. Price stage 2, week 24, above its 200-day line, relative strength falling. From the research. Where they disagree. The compression is entirely earnings-driven as the new capacity came online and profitability spiked. What is proven. What is not proven yet. A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. What would change our mind. A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. The test written in advance. A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. Measured by: the thesis as written as stated by the next result. The test written in advance. Weak Cash Conversion (Debt-Funded Growth). Measured by: Weak Cash Conversion (Debt-Funded Growth) Operating cash flow generation in the upcoming half-year results. by the next result. The test written in advance. Zero Qualitative Visibility. Measured by: Zero Qualitative Visibility Unexpected margin compression in the next quarterly print. by the next result. What the surface reading misses. The research reads it further: Earnings base just inflected. On normalized forward earnings, it's low. What the surface reading misses. The surface reading is: Massive earnings acceleration. The research reads it further: Off a very weak base. Absolute jump in the latest quarter is structurally higher than any recent quarter. Lever 6 · Order-book wins: building. Recent multi-year capital expenditure is now driving sharp top-line acceleration. What proves it keeps working: Capacity Expansion Ramp-up. It stops working if Revenue growth decelerates, signaling peak utilization of the new capacity. Lever 1 · Operating leverage: building. Operating margin breaking out of its historical band as capacity utilization improves. What proves it keeps working: Operating Leverage. It stops working if A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. Sources: our stock research file (19 July 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## How much does Manaksia Steels earn on its capital? Manaksia Steels Ltd earned a ROCE of 14% in FY26. That is up from a low of 4% in FY25. Its return on capital used (ROIC) is 3.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 3.5% net margin and 1.91× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 3.5% net margin × 1.91× asset turnover × 1.82× leverage (assets divided by equity) ≈ 12.2% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 15.9% − 12.0% = +3.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 15.9% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Manaksia Steels have too much debt? Manaksia Steels Ltd has total debt of ₹151 Cr against shareholder equity of ₹326 Cr as of Jun 2026, so its debt is 0.46× its equity. Year by year, that ratio went from 0.04 in FY22 to 0.46 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Manaksia Steels shareholding pattern? Domestic institutions raised their stake in Manaksia Steels Ltd by 1.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 1.0% of the company. Promoters moved +0.0 points over the same period, to 74.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +1.0 points over 8 quarters, to 1.0%; Promoters: +0.0 points over 8 quarters, to 74.8%; Foreign institutions: +0.0 points over 8 quarters, to 0.7%. Why the owners changed: domestic institutions drove it (+1.0 points). They raised their stake step by step. ## How far is Manaksia Steels from balance-sheet trouble? For Manaksia Steels Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Manaksia Steels rank in its industry? 72.3 out of 100, rank 1 of 10 in Steel, with 81% of the evidence available. Manaksia Steels Ltd scores 72.3 out of 100 against the 10 companies it is compared with in Steel, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 28.6 + 15.3 + 15.9 + 12.5 = 72.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Manaksia Steels compared with? Manaksia Steels ranks 1 of 10 Steel companies on the 4-Factor Sector Score, with 72.3 out of 100. 1. Manaksia Steels Ltd this page MANAKSTEEL · breaking out · Most evidence points up · 81% evidence 72.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.6/35 · Revenue 81.2% · Profit 100% · Operating margin change 5.1 points · 88% evidence Capital efficiency 15.3/25 · ROCE 14.4% · Operating margin 10% · 100% evidence Valuation 15.9/20 · P/E 12.7× · PEG 0.33 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 53.7% · 1 year n/a · 25% evidence · 11 of 11 weeks ahead Exact sum: 28.6 + 15.3 + 15.9 + 12.5 = 72.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Mangalam Worldwide Ltd](https://www.sectoralpha.in/stocks/mangalam-worldwide-ltd) MWL · leader · Evidence leans up · 100% evidence 57.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.6/35 · Revenue 8.8% · Profit 48.6% · Operating margin change 4 points · 100% evidence Capital efficiency 15.4/25 · ROCE 17.7% · Operating margin 11% · 100% evidence Valuation 12.2/20 · P/E 20× · PEG 1.04 · 100% evidence Relative strength 13.2/20 · Lead over its industry 4.1% · Lead over NIFTY 500 18.8% · 1 year 63.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 16.6 + 15.4 + 12.2 + 13.2 = 57.4 · What this means: Relative strength against the index is 18.8%, and revenue and profit growth are weak. 3. [JSW Steel Ltd](https://www.sectoralpha.in/stocks/jsw-steel-ltd) JSWSTEEL · turning · Evidence leans up · 75% evidence 57.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.0/35 · Revenue 14.1% · Profit 100% · Operating margin change 3 points · 95% evidence Capital efficiency 12.8/25 · ROCE 11% · Operating margin 19% · 76% evidence Valuation 9.8/20 · P/E 19.4× · PEG n/a · 15% evidence Relative strength 11.4/20 · Lead over its industry -8.1% · Lead over NIFTY 500 6.8% · 1 year 3.3% · 100% evidence · 3 of 12 weeks ahead Exact sum: 23 + 12.8 + 9.8 + 11.4 = 57 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Steel Authority of India Ltd](https://www.sectoralpha.in/stocks/steel-authority-of-india-ltd) SAIL · losing its lead · Evidence leans up · 100% evidence 54.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.8/35 · Revenue 9.4% · Profit 100% · Operating margin change 4 points · 100% evidence Capital efficiency 9.4/25 · ROCE 7.9% · Operating margin 13% · 100% evidence Valuation 15.4/20 · P/E 11.1× · PEG 0.57 · 100% evidence Relative strength 6.9/20 · Lead over its industry -11.2% · Lead over NIFTY 500 2.4% · 1 year 17.6% · 100% evidence · 5 of 12 weeks ahead Exact sum: 22.8 + 9.4 + 15.4 + 6.9 = 54.5 · What this means: Earnings are strong; relative strength in its sector is -11.2% and the one-year return is 17.6%. 5. [Mukand Ltd](https://www.sectoralpha.in/stocks/mukand-ltd) MUKANDLTD · breaking out · Evidence leans up · 86% evidence 52.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue 7.6% · Profit 100% · Operating margin change -3.7 points · 88% evidence Capital efficiency 4.7/25 · ROCE 4.4% · Operating margin 0.5% · 100% evidence Valuation 14.4/20 · P/E 3.2× · PEG n/a · 50% evidence Relative strength 14.1/20 · Lead over its industry -6.6% · Lead over NIFTY 500 8.2% · 1 year -0.6% · 100% evidence · 7 of 12 weeks ahead Exact sum: 18.8 + 4.7 + 14.4 + 14.1 = 52 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Tata Steel Ltd](https://www.sectoralpha.in/stocks/tata-steel-ltd) TATASTEEL · quiet · Evidence leans down · 89% evidence 42.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 10.5% · Profit 100% · Operating margin change 1 points · 88% evidence Capital efficiency 12.6/25 · ROCE 12.5% · Operating margin 15% · 100% evidence Valuation 10.0/20 · P/E 17.7× · PEG 1.74 · 65% evidence Relative strength 0.6/20 · Lead over its industry -20.4% · Lead over NIFTY 500 -7.3% · 1 year -8.3% · 100% evidence · 1 of 12 weeks ahead Exact sum: 19.1 + 12.6 + 10 + 0.6 = 42.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [NMDC Steel Ltd](https://www.sectoralpha.in/stocks/nmdc-steel-ltd) NSLNISP · quiet · Evidence leans down · 79% evidence 36.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.9/35 · Revenue 41.6% · Profit 100% · Operating margin change -1 points · 88% evidence Capital efficiency 4.9/25 · ROCE 3.1% · Operating margin 11% · 100% evidence Valuation 8.5/20 · P/E 132× · PEG n/a · 15% evidence Relative strength 3.4/20 · Lead over its industry -19.1% · Lead over NIFTY 500 -5.9% · 1 year -12.5% · 100% evidence · 1 of 12 weeks ahead Exact sum: 19.9 + 4.9 + 8.5 + 3.4 = 36.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [India Homes Ltd](https://www.sectoralpha.in/stocks/india-homes-ltd) INDIAHOMES · Too little evidence to rank firmly · 37% evidence 56.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.8/43.75 · Revenue 100% · Profit 100% · Operating margin change 11094.8 points · 53% evidence Capital efficiency 16.0/31.25 · ROCE 17.5% · Operating margin n/a · 61% evidence Valuation 11.1/25 · P/E 60.9× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 29.8 + 16 + 11.1 = 56.9 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 9. [Safe Enterprises Retail Fixtures Ltd](https://www.sectoralpha.in/stocks/safe-enterprises-retail-fixtures-ltd) SAFEENTP · turning · Too little evidence to rank firmly · 42% evidence 52.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue n/a · Profit n/a · Operating margin change 1 points · 15% evidence Capital efficiency 19.1/25 · ROCE 47.1% · Operating margin 35% · 57% evidence Valuation 10.5/20 · P/E 17× · PEG n/a · 15% evidence Relative strength 6.0/20 · Lead over its industry -15.9% · Lead over NIFTY 500 -1.9% · 1 year 20% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.5 + 19.1 + 10.5 + 6 = 52.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. [Rajputana Stainless Ltd](https://www.sectoralpha.in/stocks/rajputana-stainless-ltd) RSL · breaking out · Too little evidence to rank firmly · 45% evidence 47.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.1/43.75 · Revenue n/a · Profit n/a · Operating margin change 0 points · 48% evidence Capital efficiency 18.9/31.25 · ROCE 25.3% · Operating margin 9% · 100% evidence Valuation 11.4/25 · P/E 23.9× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 17.1 + 18.9 + 11.4 = 47.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Steel](https://www.sectoralpha.in/sectors/steel), all 10 compared on one page. ## Which companies are close to Manaksia Steels in size? Manaksia Steels is the 10th largest of 10 Steel companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: NMDC Steel, Mukand, Rajputana Stainless, Mangalam Worldwide, Safe Enterprises Retail Fixtures and India Homes. It is the smallest. ### Steel companies close in size

1. [NMDC Steel Ltd](https://www.sectoralpha.in/stocks/nmdc-steel-ltd) ₹11,037 crore
2. [Mukand Ltd](https://www.sectoralpha.in/stocks/mukand-ltd) ₹2,044 crore
3. [Rajputana Stainless Ltd](https://www.sectoralpha.in/stocks/rajputana-stainless-ltd) ₹1,406 crore
4. [Mangalam Worldwide Ltd](https://www.sectoralpha.in/stocks/mangalam-worldwide-ltd) ₹1,105 crore
5. [Safe Enterprises Retail Fixtures Ltd](https://www.sectoralpha.in/stocks/safe-enterprises-retail-fixtures-ltd) ₹1,095 crore
6. [India Homes Ltd](https://www.sectoralpha.in/stocks/india-homes-ltd) ₹1,031 crore
7. Manaksia Steels Ltd ₹710 crore

[All 10 Steel companies, largest first](https://www.sectoralpha.in/sectors/steel#all-companies)

### Companies close in size in other industries

1. [Enkei Wheels India Ltd](https://www.sectoralpha.in/stocks/enkei-wheels-india-ltd) ₹710 crore · Auto Ancillaries - Wheels
2. [Hy-Tech Engineers Ltd](https://www.sectoralpha.in/stocks/hy-tech-engineers-ltd) ₹710 crore
3. Manaksia Steels Ltd ₹710 crore
4. [Emami Paper Mills Ltd](https://www.sectoralpha.in/stocks/emami-paper-mills-ltd) ₹709 crore · Paper
5. [Maxgrow India Ltd](https://www.sectoralpha.in/stocks/maxgrow-india-ltd) ₹709 crore · Trading

## What else do people ask about Manaksia Steels? ### What is Manaksia Steels's share price today? Manaksia Steels Ltd's share price is ₹117.53. The whole company is worth ₹773 Cr on the market. In the last 52 weeks it traded between ₹66 to ₹118; today it is 99% of the way up from the low, 42.5% above its 200-day average. The price has been rising for 24 weeks (as of 3 November 2026). ### What were Manaksia Steels's latest quarterly results? Manaksia Steels Ltd reported revenue of ₹327 Cr and net profit of ₹23.0 Cr for the Jun 2026 quarter. Revenue rose 50.7% and profit rose 283.3% compared with a year earlier. Earnings per share were ₹3.46. The operating margin was 10.0%, 5.1 percentage points higher than a year earlier (as of 3 November 2026). ### What is Manaksia Steels's market cap? Manaksia Steels Ltd's market capitalisation is ₹773 Cr at a share price of ₹117.53. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Manaksia Steels performing? Manaksia Steels Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 50.7% and profit rose 283.3% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 13 weeks running (as of 3 November 2026). ### Will Manaksia Steels's share price go up? This page does not forecast Manaksia Steels Ltd's share price. What it shows instead: the share price is ₹117.53, and it has been rising for 24 weeks. Its P/E of 13.8× is higher than 60% of its own last 8 years (as of 3 November 2026). ### Who owns Manaksia Steels? Promoters own 74.8% of Manaksia Steels Ltd, foreign institutions 0.7%, domestic institutions 1.0% and the public 22.9% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 1.0 percentage points over 8 quarters (as of 3 November 2026). ### Where is Manaksia Steels in its business cycle? Manaksia Steels Ltd's FY26 operating margin was 7.0%, against a 9-year range of 2.3% to 9.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 10.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Manaksia Steels story? The main question: profits are rising, but only 31% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Manaksia Steels a stock worth studying right now? What the numbers show: Manaksia Steels Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Manaksia Steels share price forecast for 2026? What is changing at Manaksia Steels, from the latest results and calls: capacity expansion ramp-up and operating leverage. What would change the story: A reversion of operating margin to the historical lower-single-digit band for two consecutive quarters, indicating the new capacity lacks pricing power. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Copper & metal stocks: https://www.sectoralpha.in/copper-stocks-india

This is research, not advice. We’re not SEBI-registered.