Manaksia Steels Ltd Q1 FY26 Results

We have commenced FY 2025-26 on a strong footing, with our Q1 performance reaffirming the strength of our core business and the success of our strategic initiatives. The quarter delivered broad-based growth, driven by robust demand, efficient execution, and a relentless focus on customer satisfaction. At our Haldia facility, capacity utilisation was near peak —at around 80% on the galvanised line and close to full utilisation on our colour-coated line—reflecting operational efficiency and strong market traction. With the successful commissioning of our new Aluzinc-Coated Steel Line during the quarter, funded entirely through internal accruals, we are poised to redefine our growth trajectory. This addition marks a key turning point and is expected to significantly contribute to volumes and margins starting Q2 FY26. Looking ahead, the board of the company has approved further investment of %40 crore for establishment of second Colour-Coating Line at Haldia—representing a 200% increase in capacity and the same is expected to be commissioned by Q4 FY26. This investment is also, being funded entirely through internal accruals, with no external debt, underscoring our strong financial discipline and self-sustaining growth model. Internationally, our Nigerian subsidiary, Federated Steel Mills Ltd., reported 85% year-on-year sales growth. This reflects a rebound in demand following the unprecedent devaluation of the Nigerian Naira. The Naira has shown greater stability over the past nine months — restoring investor and consumer confidence. Nigeria, with its population of over 220 million, remains Africa’s largest consumption-led economy, and we are well-positioned to leverage this opportunity. As we advance, we remain committed to executing our strategy with focus and agility broadening our product portfolio, enhancing cost efficiency, and delivering long-term value to our stakeholders.