Company Overview
Manaksia Limited (Scrip Code: 532932, Symbol: MANAKSIA) filed comprehensive disclosures including its FY26 financial results and notice for the 42nd Annual General Meeting scheduled for September 23, 2026.
Financial Performance
Consolidated Results: The company reported revenue of ₹784.09 crore (7% YoY growth) with PAT of ₹52.92 crore (6.4% margin) and EPS of ₹7.99. The net worth stood at ₹722.69 crore with minimal debt (debt-to-equity: 0.04) and strong interest coverage ratio of 21.78x.
Standalone Results: Revenue from operations reached ₹173.06 crore with net profit of ₹5.76 crore. The company maintained significant investments in mutual funds totaling ₹97.9 crore and held cash equivalents of ₹7.19 crore with other bank balances of ₹23.98 crore.
Operational Highlights
The Metals business contributed 89% of total revenue (₹375.60 crore from construction sheets), while Packaging generated ₹90.43 crore. The company maintained market leadership in Nigerian roofing under the 'Sumo' brand and is developing a $5 million Zinc Aluminium coating line in Nigeria (60,000 TPA capacity), funded through internal accruals with commissioning targeted for CY2026 last quarter.
Corporate Actions & Strategic Initiatives
Demerger Plan: Shareholders approved the demerger of the Metal Product business into wholly-owned subsidiary Manaksia Ferro Industries Limited. The scheme has received approvals from BSE, NSE, SEBI, and is pending NCLT approval.
AGM Agenda: The 42nd AGM will be held virtually on September 23, 2026, with key resolutions including:
- Adoption of FY26 standalone and consolidated financial statements
- Reappointment of Mr. Varun Agrawal who retires by rotation
- Special resolution for reappointment of Mr. Suresh Kumar Agrawal as Managing Director for three years (November 2026-2029) with monthly remuneration of ₹21 lakh plus benefits
Capital Management & Dividend
No dividend was recommended for FY2025-26 to retain surplus within the company. The company disclosed unpaid dividends from previous years totaling approximately ₹26.84 lakh due for transfer to IEPF between 2026-2030.
Subsidiary Performance
MINL Limited (Nigeria): Reported revenue of Naira 685,463.67 lakhs (₹46,789.33 crore) with PAT of Naira 40,476.06 lakhs (₹2,762.87 crore)
Jebba Paper Mills Limited (Nigeria): Revenue of Naira 142,982.73 lakhs (₹9,759.91 crore) with PAT of Naira 31,719.09 lakhs (₹2,165.13 crore)
Mark Steels Limited (India): Revenue of ₹1,476.24 crore with PAT of ₹19.28 crore
Risk Factors & Contingencies
The company disclosed contingent liabilities of ₹83.31 lakhs (standalone) and ₹655.24 lakhs (consolidated), primarily from income tax, service tax, and GST demands under appeal. Guarantees given amounted to ₹2.44 lakhs (standalone) and ₹949.91 lakhs (consolidated).
Corporate Governance & Compliance
The Board comprises 6 Directors (3 Independent, 1 Executive, 2 Non-Executive) with functional committees. CSR obligation of ₹26.76 lakh was exceeded with actual spend of ₹27.51 lakh, focused on education and animal welfare. The company implemented the new Labour Codes effective November 2025, assessing impact as not material.
Voting & Shareholder Information
E-voting through NSDL will be available from September 19-22, 2026, with the AGM conducted via video conferencing. Promoters hold approximately 72.03% of share capital, with key shareholders including Varun Agrawal (18.88%), Vineet Agrawal (12.38%), and Suresh Kumar Agrawal (9.43%).
Audit & Regulatory Compliance
The auditors, S K Agrawal and Co Chartered Accountants LLP, issued unqualified opinions on both standalone and consolidated financial statements. All disclosures comply with SEBI Listing Regulations, Companies Act 2013, and Indian Accounting Standards.