During Thursday’s trading session, the shares of a company engaged in the manufacturing of secondary steel products are in focus on the stock exchanges, after a prominent investor Ashok Kumar Damani bought stake in the company via a bulk deal on the NSE.
Price Movements
With a market cap of Rs. 420 crores, the shares of Manaksia Steels Limited hit an intraday high at Rs. 68.96 on BSE, up by nearly 1 percent, as compared to its previous closing price of Rs. 68.25.
What’s the News
As per the latest bulk deal available with the NSE, a prominent investor Ashok Kumar Damani bought 5.25 lakh equity shares in Manaksia Steels Limited through an open market transaction, representing a 0.8 percent stake. The deal was valued at approximately Rs. 3.74 crores, executed at an average price of Rs. 71.3 per share.
Manaksia Steels reported a marginal growth in revenue from operations, experiencing a year-on-year increase of nearly 20 percent, rising from Rs. 133.6 crores in Q3 FY24 to Rs. 160.5 crores in Q3 FY25.
However, during the same period, the company’s net profit declined from Rs. 4.8 crores to Rs. 2.3 crores, representing a fall of around 52 percent YoY.
EBITDA for Q3 FY25 decreased by 6.5 percent YoY to Rs. 5.8 crores, down from Rs. 6.2 crores in Q3 FY24, while the EBITDA margins also reduced from 4.65 percent to 3.62 percent, over the same timeframe.
Key Financial Ratios
In terms of key financial metrics, Manaksia Steels currently has a Return on Equity (RoE) of 8.62 percent and a return on capital employed (RoCE) of 10.2 percent. Additionally, the company’s debt-to-equity ratio stands at 0.44.
About the company
Manaksia Steels Limited is primarily engaged in the business of manufacturing value-added secondary steel products like cold rolled sheets, galvanised corrugated sheets, galvanised plain sheets, colour coated (pre-painted) sheets, and related products. The manufacturing units of the company are located at Haldia & Bankura (West Bengal).
Written by Ashok Kumar