Manaksia (MANAKSIA)

Score breakdown: P/E: 3/3 · ROCE: 0/2 · Growth: 1/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Let's look at Manaksia through Graham's lens. It's an iron and steel products company, so my first instinct is to call it a cyclical, not a franchise with pricing power. At ₹61.55, market cap ₹391 Cr, P/E 7.30. That looks cheap. But cheap for a reason? Sales fell 2.06%, no dividend, book value ₹27.82. P/B 2.21 means I'm paying over two times net worth for a business earning only 7.42% on equity. That is not compelling. Graham would ask for margin of safety; on earnings perhaps, but on assets less so. ROCE 11.82% is acceptable, but not a wonderful business. Balance sheet is clean: debt/equity 0.06, and Piotroski 6/9 indicates financial health is okay, not superb. Profit grew 10.53% despite lower sales, so margins did some work; latest quarter net profit ₹15 Cr on ₹184 Cr sales suggests an 8% margin. Yet steel is cyclical, and a single quarter or year doesn't prove durability. Promoter holding 74.93% aligns owner and management, but minority shareholders have no dividend to show while waiting. PEG 0.69 looks attractive only if the growth continues; I wouldn't rely on extrapolating one year. I'd call this a cyclical that's moderately priced, not a wonderful business at a fair price. I need evidence that sales growth returns and margins hold before deploying capital. If steel turns down, low debt provides some cushion, but P/B still leaves little asset protection. I would keep it on the watch list, not a buy.

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Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer