Manaksia Steels Ltd Q4 FY26 Results

We are pleased to conclude FY 2025–26 on a strong and encouraging note, with the fourth quarter reflecting the sustained momentum built over the course of the year. The Company on standalone, delivered robust growth across all key financial parameters, achieving a 61% year- on-year increase in revenue, while EBITDA, PAT and EPS grew by more than 300% compared to the corresponding quarter of the previous year. Sales volumes also recorded growth of over 100% year-on-year, demonstrating the successful scale-up of our operations and the growing acceptance of our products across markets. During the quarter, the steel industry witnessed a sharp rise in pricing, primarily driven by supply- side constraints arising from shortages in power and fuel availability. This price environment led to increased stocking demand from dealers and customers, which supported higher sales volumes and stronger capacity utilisation across our facilities. Higher realisations, combined with improved operating leverage and disciplined execution, resulted in a significant improvement in margins and overall profitability during the quarter. Our Aluzinc-Coated Steel Line continued to perform strongly and operated at around 85% capacity utilisation, reflecting stabilised operations and encouraging customer acceptance. The successful ramp-up of this line has further strengthened demand for our value-added products, resulting in our existing colour-coating facilities continuing to operate at near-full utilisation levels. During the quarter, we also successfully augmented the capacity of our existing Colour-Coating Line by approximately 25%, increasing annual capacity from 48,000 MTPA to 60,000 MTPA. This enhancement was achieved through operational optimisation, improved process efficiencies, and a greater focus on value-added products, enabling higher throughput from the existing infrastructure while improving overall operating efficiency and fixed cost absorption. Also, even after this expansion, utilisation levels continue to remain strong, reflecting healthy and sustained market demand. Commissioning activities for our new Colour-Coating Line (CCL II) are progressing steadily, and trial production is expected to commence in the next quarter. Once operational, this facility will significantly strengthen our presence in the value-added coated steel segment and support future growth in both volumes and profitability. As part of our long-term expansion and backward integration strategy, the Company has also announced the establishment of a second 6Hi Reversible Cold Rolling Mill at Haldia with a proposed capacity of 250,000 MTPA and an estimated investment of ₹100 crore. Upon commissioning, the Company’s total Cold Rolling capacity is expected to increase to approximately 350,000 MTPA. The Company currently operates one Cold Rolling Mill and partially procures cold rolled coils from external steel mills to meet its downstream requirements. However, availability and consistency of supply from external sources remain challenging at times. The proposed expansion will significantly enhance backward integration, strengthen raw material security for our value-added coated steel operations, improve operational efficiencies, and support long-term growth in a cost-efficient manner. The project is expected to be completed by Q4 FY 2027–28. On the international front, our Nigerian subsidiary, Federated Steel Mills Ltd. (FSML), continued its steady growth trajectory, recording approximately 45% year-on-year growth in revenue in Naira terms, supported by stable operations and healthy profitability. We have also ent