Manaksia Steels Q2 FY27 PAT Soars 487% to ₹23.52 Cr on 61% Revenue Jump
Manaksia Steels reported a strong Q2 FY27 with standalone PAT up 487% to ₹23.52 Cr on a 61.55% revenue increase to ₹395.39 Cr. Consolidated PAT rose 437.44% to ₹24.20 Cr. The company approved an ₹800 crore investment in speciality steel at Haldia. Its Nigerian subsidiary saw 38% revenue growth.
The substantial financial growth, coupled with a major capital expenditure announcement for speciality steel and positive performance from international operations, indicates a significant positive impact on the company's future prospects.
The company reported significant year-on-year growth in revenue, EBITDA, and PAT for both the quarter and half-year, along with strategic investment plans and positive performance from its subsidiary.
Manaksia Steels Limited announced its unaudited financial results for the quarter and half-year ended September 30, 2026, reporting significant year-on-year growth across key metrics.
For the second quarter of FY27, the company's standalone total income surged by 61.55% to ₹395.39 crore, compared to ₹244.75 crore in Q2 FY26. EBITDA grew by an impressive 202.12% to ₹36.59 crore, and Profit After Tax (PAT) escalated by 486.74% to ₹23.52 crore. Earnings Per Share (EPS) stood at ₹3.59, a substantial increase from ₹0.61 in the prior year period.
On a consolidated basis, total income rose by 59.27% to ₹419.89 crore. EBITDA saw a 185.36% increase to ₹38.21 crore, and PAT jumped by 437.44% to ₹24.20 crore, with EPS at ₹3.69.
For the first half of FY27, standalone total income increased by 56.45% to ₹701.27 crore. EBITDA grew by 195.80% to ₹72.92 crore, and PAT increased by 343.22% to ₹45.90 crore. Consolidated total income for H1 FY27 was ₹751.05 crore, with EBITDA up 183.00% to ₹75.42 crore and PAT up 326.31% to ₹46.84 crore.
Mr. Varun Agrawal, Managing Director, highlighted the strong growth momentum, with revenue up approximately 62%, EBITDA by 202%, and PAT by 487% in Q2 FY27 compared to Q2 FY26. Sales of value-added coated steel products also grew by approximately 35%. He noted challenges from subdued demand and softer steel prices in July due to monsoon, followed by a sharp price increase from August due to higher coking coal costs and improving demand. The company's Aluzinc-Coated Steel Line operated at 95% capacity, and the Colour-Coating Line at full capacity.
A significant development was the Board's approval in August 2026 for a ₹800 crore investment in speciality steel at the Haldia facility. This investment is expected to benefit from the West Bengal Investment Promotion Policy, 2026, which identifies speciality steel as a thrust sector. The company intends to submit a Certificate of Intent to WBIDC for approval.
Manaksia Steels' Nigerian subsidiary, Federated Steel Mills Ltd., reported approximately 38% year-on-year revenue growth during the quarter, supported by the relative stability of the Nigerian Naira.
Looking ahead, the company's priorities include expanding value-added products, optimizing capacities, strengthening backward integration, and maintaining financial discipline to ensure sustainable and profitable growth.
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