Manaksia Steels Reports Stellar Q3 Turnaround, Revenue Surges 109% YoY

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AuthorIshaan Verma|Published at:
Manaksia Steels Reports Stellar Q3 Turnaround, Revenue Surges 109% YoY
Overview

Manaksia Steels Limited has reported a significant turnaround in its Q3 FY26 results. Standalone revenue from operations surged 109.66% year-on-year to ₹29,834 lacs, with Net Profit After Tax (PAT) turning positive at ₹947.84 lacs from a loss in the prior year. Standalone EBITDA also saw a substantial jump of 225.65%. The nine-month period also showed robust growth across revenue, PAT, and EBITDA, with EPS nearly quadrupling YoY.

📉 The Financial Deep Dive

Manaksia Steels Limited has posted a dramatic recovery in its financial results for the quarter and nine months ended December 31, 2025.

The Numbers:

  • Quarter Ended December 31, 2025 (Q3 FY26):

    • Standalone Revenue from Operations jumped by 109.66% YoY to ₹29,834 lacs (vs ₹14,229.51 lacs in Q3 FY25).
    • Net Profit After Tax (PAT) turned positive, reaching ₹947.84 lacs compared to a net loss of ₹211.72 lacs in the prior year.
    • Standalone EBITDA grew by an impressive 225.65% YoY to ₹1,717.87 lacs.
    • Consolidated Revenue grew 98.07% YoY to ₹31,786 lacs, with PAT turning positive at ₹967.00 lacs (vs loss of ₹174.85 lacs YoY).
    • Basic EPS stood at ₹1.39, up 239.02% YoY from ₹0.41.

  • Nine Months Ended December 31, 2025 (9M FY26):

    • Standalone Revenue from Operations increased 88.58% YoY to ₹74,311.10 lacs.
    • Net Profit After Tax (PAT) surged 391.70% YoY to ₹1,815.00 lacs (vs ₹368.93 lacs in 9M FY25).
    • Standalone EBITDA grew 144.12% YoY to ₹4,183.16 lacs.
    • Consolidated nine-month PAT surged 342.97% YoY to ₹1,993.55 lacs.
    • Basic EPS for nine months was ₹2.97, compared to ₹0.77 in the prior year.
    • Other income showed a significant 6537.9% YoY increase to ₹270.10 lacs in Q3 FY26.

The Quality:

The company's performance reflects a significant operational recovery, with EBITDA and PAT growth substantially outperforming revenue growth, indicating margin expansion. The shift from a net loss to a considerable profit is a key highlight. While exceptional items in the prior year (foreign exchange losses) contributed to that period's weakness, the current year's improvement is demonstrably driven by core operational gains.

The Grill:

A critical omission from this disclosure is any forward-looking guidance from the management. No outlook on future revenue, profitability, or strategic initiatives has been provided. Additionally, the consolidated results include unaudited interim statements from three subsidiaries, although management states these are not material to the Group.

🚩 Risks & Outlook:

  • Sustainability: The striking YoY improvement is partly attributed to a weak comparative period in FY25. Investors will need to assess the sustainability of this growth based on underlying demand and operational efficiency going forward.
  • Guidance Vacuum: The absence of management guidance is a significant concern, leaving investors and analysts to form their own projections and increasing potential stock volatility.
  • Subsidiary Data: While deemed immaterial by management, the inclusion of unaudited subsidiary data in consolidated statements warrants continued observation.
  • Labour Codes: The company is still assessing the financial implications of new Labour Codes, though it currently expects no material impact on its employees or contractual labour.
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