Manaksia steels Limited has responded to a surveillance query from BSE Limited regarding recent price movements in its securities. The company issued its clarification on December 24, 2025, addressing concerns raised by the exchange about unusual trading activity.

Regulatory Compliance Confirmation

The steel company confirmed its full compliance with regulatory requirements in its response to BSE's surveillance department. The exchange had sought clarification through reference number L/SURV/ONL/PV/AJ/2025-2026/3239 dated December 24, 2025, regarding price movements across exchanges.

Company's Official Statement

Manaksia Steels emphasized its adherence to Regulation 30 and all applicable regulations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated it has been providing comprehensive details of all events, announcements, and price-sensitive information that could impact its operations or performance to stock exchanges in a timely manner.

While acknowledging the observed price movements, the company clarified that it does not possess any additional information or pending announcements that could explain the recent trading behavior. The management confirmed no undisclosed material information exists that would warrant reporting to stock exchanges.

Key Clarifications

The company's response addressed several critical points:

• Full compliance with SEBI listing regulations maintained
• All material events and price-sensitive information disclosed timely
• No pending announcements or undisclosed information available
• Regular monitoring and reporting of operational developments

Corporate Communication

The clarification was signed by Ajay Sharma, Company Secretary, representing the board's official position on the matter. This response demonstrates the company's commitment to transparent communication with regulatory authorities and maintaining investor confidence through proper disclosure practices.

The steel company's proactive response to the surveillance query reflects standard market practice when exchanges seek clarification on unusual price or volume movements in listed securities.

Manaksia Steels Limited (MSL) has reported a robust performance for the second quarter of fiscal year 2026, with significant growth in sales volume and production across its key product lines. The company's strategic initiatives and international operations have contributed to its strong results, despite industry-wide challenges.

Key Highlights

• Total sales volume increased by 184% year-on-year
• Production of galvanized coils and sheets grew by 56% YoY
• Pre-painted products production up by 150% YoY
• Nigerian subsidiary achieved over 150% revenue growth
• New Aluzinc-coated steel line reached 75% capacity utilization

Financial Performance

Manaksia Steels demonstrated impressive growth in its financial metrics for Q2 FY26:

Operational Highlights

The company's production facilities have shown significant improvements:

1. Galvanized Products: Production of galvanized coils and sheets increased by 56% compared to the same quarter last year.
2. Pre-Painted Products: The production of pre-painted coils and sheets saw a substantial rise of 150% year-on-year.
3. Aluzinc-Coated Steel: The newly commissioned Aluzinc-coated steel line has reached approximately 75% capacity utilization, contributing to both volumes and profitability.

International Operations

Manaksia Steels' Nigerian subsidiary, Federated Steel Mills Ltd. (FSML), delivered exceptional results:

• Revenue growth exceeded 150% year-on-year
• Improved profitability
• Nigerian Naira appreciated from ₦1,529/$ to ₦1,474/$, supporting business stability

Future Outlook

Manaksia Steels remains optimistic about its growth trajectory:

1. Capacity Expansion: A new color-coating line at Haldia, with an investment of ₹40 crore, is on track for commissioning in Q4 FY26. This will enhance the company's color-coating capacity by nearly 200%.
2. Market Position: The company is well-positioned for sustained and profitable growth, supported by ongoing capacity expansion and growing international operations.

Management Commentary

Varun Agarwal, Managing Director of Manaksia Steels Limited, commented on the performance: "We are pleased to report yet another quarter of resilient performance, reflecting the strength of our business model and the growing trust in our products. Despite the industry-wide slowdown during the monsoon season, we achieved over 150% year-on-year growth in sales—a testament to our expanded capacity, stronger market outreach, and sustained customer confidence."

He further added, "As we enter the second half of FY 2025-26, we remain optimistic about the demand outlook and are focused on driving scale, efficiency, and financial discipline. With our ongoing capacity expansion, growing international operations, and a robust balance sheet, Manaksia Steels is well-positioned for sustained and profitable growth in the years ahead."

Manaksia Steels Limited continues to demonstrate its ability to navigate market challenges while capitalizing on growth opportunities, both domestically and internationally. The company's focus on expanding its value-added product portfolio and enhancing operational efficiencies positions it well for future success in the competitive steel industry.