Manaksia Steels Approves Q2026 Results and Grants In-Principle Approval for ₹800 Crore Facility Expansion
Manaksia Steels Limited has announced key outcomes from its Board meeting held on August 10, 2026, including the approval of its unaudited financial results for the quarter ended June 30, 2026. The Board also granted in-principle approval for a significant expansion project aimed at boosting specialty steel production in West Bengal.The company confirmed that the meeting approved the Unaudited Financial Results (both Standalone and Consolidated) for the quarter ended June 30, 2026.
Financial Performance Highlights
The reviewed financial results show key figures across various reporting periods. The table below details a segment of the Standalone and Consolidated performance metrics:| Metric | Q Ended 30th June 2026 (Unaudited) | Q Ended 31st March 2026 (Audited) | Q Ended 30th June 2025 (Unaudited) | Year Ended 31st March 2026 (Audited) |
|---|---|---|---|---|
| Total Income | 1,05,751.17 | 1,05,319.18 | 20,348.39 | 1,13,542.59 |
| Net (Loss) for the period (PAT) | 22,167.30 | 25,747.71 | (18,727.03) | 93,756.23 |
The Consolidated Financial Results included Manaksia Steels Limited and its subsidiaries Federated Steel Mills Limited, Far East Steel Industries Limited, and Sumo Agrochem Limited. The results reflect the performance of these entities for the quarter ended June 30, 2026.
Strategic Expansion Project
A major strategic decision approved by the Board was the in-principle approval for the expansion of its manufacturing facility located in Haldia, West Bengal. This project is designated to increase production capacity for Cold-Rolled Coil and Coated Steel. The estimated investment for this expansion stands at approximately ₹800 crore, which is planned to be funded through a mix of debt and internal accruals.The company is currently progressing several operational enhancements related to its specialty products. These include the ongoing implementation of Colour Coating Line - II and the imminent commencement of a Cold Rolling Mill. Furthermore, Manaksia Steels plans to invest in additional capacity for GP/Alu Zinc Coils production to meet market demand. The company is also evaluating the setup of a 10 MW captive solar power plant to support its expanded operations.
Future Capacity Additions
The expansion plan includes two distinct phases focusing on specialty steel products, aligning with evolving market scenarios and the upcoming industrial policy in West Bengal. Phase I focuses on immediate capacity enhancement, while Phase II outlines larger long-term growth targets.Details regarding the proposed capacity addition are presented below:
Proposed Capacity Addition for Specialty Steels Products (Cold Rolled Coil)
Phase I: This phase requires an approximate investment of Rs. 375 crores across all specialized lines. It aims to increase existing capacity.| Particulars | Existing capacity | Proposed capacity addition | Total Capacity after proposed addition | Investment Required | Mode of Financing |
|---|---|---|---|---|---|
| Cold Rolled Coil (CR) | 80,000 Tonnes p.a. | 95,000 Tonnes p.a. | 175,000 Tonnes p.a. | Approx. Rs. 375 crores | Debts and Internal accruals |
| Coated (GL/GP) | 1,44,200 Tonnes p.a. | 31,000 Tonnes p.a. | 175,200 Tonnes p.a. | Approx. Rs. 375 crores | Debts and Internal accruals |
| Colour Coated (CC) | 60,000 Tonnes p.a. | 90,000 Tonnes p.a. | 1,50,000 Tonnes p.a. | Approx. Rs. 375 crores | Debts and Internal accruals |
Phase II: This phase involves a longer-term commitment with an estimated investment of approximately Rs. 425 crores plus Land value.
| Particulars | Proposed capacity addition | Total Capacity after proposed addition | Investment Required | Mode of Financing |
|---|---|---|---|---|
| Cold Rolled Coil (CR) | 1,00,000 Tonnes p.a. | 2,75,000 Tonnes p.a. | Approx. Rs. 425 crores plus Land value | Debts and Internal accruals |
| Coated (GL/GP) | 1,00,000 Tonnes p.a. | 2,75,200 Tonnes p.a. | Approx. Rs. 425 crores plus Land value | Debts and Internal accruals |
| Colour Coated (CC) | 90,000 Tonnes p.a. | 2,40,000 Tonnes p.a. | Approx. Rs. 425 crores plus Land value | Debts and Internal accruals |
The timelines for the implementation of both phases are subject to securing special incentives sought from the State Government covering the Specialty Steel sector under the upcoming State Industrial Policy.
Corporate Governance Updates
In other operational updates, the Board meeting also set crucial dates for shareholders regarding future corporate activities:- Annual General Meeting (AGM): The 25th AGM of Manaksia Steels Limited is scheduled to be held on Wednesday, September 23, 2026, at 03:00 P.M. (IST) through Video Conferencing or Other Audio Visual Means.
- E-voting Cut-off: The cut-off date for recording the names of shareholders entitled to vote via remote e-voting is set for Wednesday, September 16, 2026.
MANAKSTEEL Stock Price Movement
Manaksia Steels Limited shed 5.00% in trading today, settling at ₹80.68 after the market closed. The stock recorded a volume of 115,463 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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