Manaksia Steels Limited posted a consolidated net profit of ₹22.64 crore for the quarter ended June 30, 2026, marking a 249% year-on-year surge from ₹6.48 crore in Q1FY26. The steel manufacturer’s consolidated revenue from operations rose 50.5% to ₹327.48 crore, up from ₹217.49 crore in the corresponding period last year, signaling robust demand recovery in its primary metals segment.

The results were reviewed by the Audit Committee and approved by the Board of Directors on August 10, 2026. The company’s statutory auditors carried out a limited review of the unaudited financials in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were published in Business Standard and Ekdin newspapers on August 12, 2026, under Regulation 47 of the same regulations.

Financial Performance

Consolidated EBITDA expanded significantly to ₹37.20 crore from ₹13.25 crore in Q1FY26, reflecting improved operational leverage. Profit before tax (PBT) stood at ₹30.48 crore, compared to ₹8.61 crore in the prior year period. Tax expenses were recorded at ₹7.84 crore.

On a standalone basis, Manaksia Steels reported a net profit of ₹22.37 crore, up from ₹6.34 crore in Q1FY26. Standalone revenue from operations increased 49.9% to ₹302.21 crore, while standalone EBITDA grew to ₹36.32 crore from ₹12.54 crore.

What the Numbers Show

The disproportionate growth in net profit relative to revenue highlights a significant margin expansion. While revenue grew by roughly 50%, EBITDA nearly tripled, indicating that cost efficiencies or favorable input prices contributed substantially to bottom-line growth. The consolidated entity includes wholly owned subsidiaries Federated Steel Mills Limited, Far East Steel Industries Limited, and Sumo Agrochem Limited, suggesting that operational synergies across these units may be driving the improved profitability profile.

Manaksia Steels Limited has filed an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, disclosing a litigation order from the High Court at Calcutta concerning land located at Haldia, West Bengal. The disclosure, dated August 11, 2026, was submitted to both BSE Limited and the National Stock Exchange of India Limited by the company's Secretary, Ajay Sharma.

Background of the Dispute

The land in question was originally held by Manaksia Limited and was transferred to Manaksia Steels Limited with effect from October 01, 2013, pursuant to a Scheme of Demerger sanctioned by the Hon'ble High Court, Calcutta vide its Order dated March 24, 2014. The company noted that the fact of this transfer has not yet been updated in the records of the concerned Statutory Authority, and accordingly, the disclosure is being made based on information received from Manaksia Limited.

The underlying dispute involves a writ petition filed by Manaksia Limited — Case No. W.P.A. No. 15313 of 2008 — before the High Court at Calcutta (Constitutional Writ Jurisdiction Appellate Side), challenging orders issued by the Chief Executive Officer of the Haldia Development Authority (HDA). The HDA, through memos dated February 05, 2008, and July 04, 2008, had directed the petitioner to pay land premium at an enhanced rate of Rs. 15 lakhs per acre for 35 acres of land, as against the previously agreed rate of Rs. 5.50 lakhs per acre.

Court Order and Financial Implications

The High Court, vide its Judgment dated July 27, 2026, directed the petitioner to deposit the remaining enhanced land premium within six weeks from the date of the order. The key details of the litigation and its financial impact are presented below:

Company's Assessment

Manaksia Steels has stated that it envisages no adverse financial implications in its working due to the imposition of the demand of Rs. 3,32,50,000. The company has also indicated that the petitioner may prefer to file an appeal against the order. The total quantum of claims stands at Rs. 3,32,50,000 (Rupees Three Crores Thirty-Two Lakhs Fifty Thousand only), consistent with the amount directed by the court.