Manaksia Steels Approves Q1 FY27 Results, Expands Haldia Facility with ₹800 Crore Investment
Manaksia Steels approved Q1 FY27 results and an ₹800 crore expansion of its Haldia facility for Cold-Rolled Coil and Coated Steel. The 25th AGM is scheduled for September 23, 2026. The expansion will occur in two phases, with Phase I investment around ₹375 crore and Phase II around ₹425 crore.
The ₹800 crore expansion plan for manufacturing facilities is a substantial capital expenditure that is expected to significantly impact the company's future revenue and market position.
The company reported its quarterly results and announced a significant expansion plan, indicating growth and future prospects.
Manaksia Steels Limited's Board of Directors met on August 10, 2026, approving the Unaudited Financial Results for both standalone and consolidated operations for the quarter ended June 30, 2026. The company announced that its 25th Annual General Meeting will be held on September 23, 2026, at 3:00 PM IST via video conferencing, with a cutoff date of September 16, 2026, for determining shareholder eligibility for remote e-voting.
Furthermore, the Board granted in-principle approval for a significant expansion of the manufacturing facility in Haldia, West Bengal. This expansion, aimed at increasing the production of Cold-Rolled Coil and Coated Steel, will be undertaken in two phases with an estimated investment of approximately ₹800 crore. The funding for this expansion will be a mix of debt and internal accruals. Phase I includes the implementation of Colour Coating Line – II, a Cold Rolling Mill, and additional capacity for GP/Alu Zinc Coils, along with an evaluation of a 10 MW captive solar power plant. Phase II will focus on further expanding capacity in specialty steel products, with timelines dependent on the outcome of seeking special incentives from the Government of West Bengal.
The company's financial results for the quarter ended June 30, 2026, show total income of ₹30,588.34 lakh on a standalone basis and ₹33,115.59 lakh on a consolidated basis. Net profit after tax for the quarter stood at ₹2,237.92 lakh standalone and ₹2,264.59 lakh consolidated. The company also provided details on proposed capacity additions and investment requirements for both phases of the expansion project.
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