Manaksia Steels Limited (MANAKSTEEL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-198.4%

-₹117.04

vs ₹119.00 price

Levered DCF

-₹163.41

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	15.59×	33.23×	13.63×	19.09×	8.05×	5.84×	4.96×	17.48×
P/B	1.91×	1.12×	1.29×	0.8×	1.07×	0.7×	0.22×	0.79×
P/S	0.55×	0.51×	0.57×	0.31×	0.47×	0.31×	0.08×	0.21×
EV / EBITDA	9.51×	19.54×	10.65×	8.96×	4.54×	4.41×	2.87×	5.62×
Gross margin	17.2%	15.8%	15.4%	14.2%	22.9%	21.8%	17.1%	4.5%
Operating margin	5.8%	1.4%	4.7%	2.2%	7.1%	6.0%	2.6%	2.9%
Net margin	3.5%	1.5%	4.2%	1.6%	5.8%	5.3%	1.6%	1.2%
Current ratio	1.51×	1.51×	1.79×	2.39×	3×	1.14×	1.26×	1.55×
Debt / equity	0.46×	0.71×	0.62×	0.17×	0.04×	0.3×	0.32×	0.02×
Interest coverage	4.13×	1.02×	3.92×	4.2×	27.83×	14.37×	6.28×	7.32×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.2%	3.4%	9.4%	4.2%	13.3%	11.9%	4.5%	4.5%
Return on invested capital	9.9%	1.4%	4.9%	3.4%	10.4%	8.0%	4.5%	5.5%
Return on assets	6.7%	1.8%	5.5%	2.9%	10.1%	7.6%	2.1%	2.5%
Free cash flow yield	1.7%	-17.7%	-23.5%	6.8%	-2.6%	22.5%	-34.8%	66.8%
Earnings yield	6.4%	3.0%	7.3%	5.2%	12.4%	17.1%	20.2%	5.7%
Enterprise value	₹7.7B	₹5.2B	₹5.6B	₹2.7B	₹2.8B	₹2.1B	₹599.9M	₹1.3B
Net debt / EBITDA	1.81×	7.35×	3.35×	1.24×	-0.09×	1.09×	0.83×	-0.77×
Cash conversion cycle (days)	60	101	102	77	89	84	40	21