MANAKSTEEL2024-01-012024-03-31 MANAKSTEEL2024-01-012024-03-31 MANAKSTEEL2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member MANAKSTEEL2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member MANAKSTEEL2024-03-31 MANAKSTEEL2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member MANAKSTEEL2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss02Member MANAKSTEEL2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member MANAKSTEEL2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss02Member MANAKSTEEL2024-01-012024-03-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member MANAKSTEEL2024-01-012024-03-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 539044 MANAKSTEEL NOTLISTED Manaksia Steels Limited Equity 2023-04-01 2024-03-31 2024-05-28 2024-05-21 INR Lakhs Yearly 17:00:00 19:00:00 2024-05-28 2024-05-28 true Cash Flow Indirect Declaration of unmodified opinion Single segment Metals 2024-01-01 2024-03-31 Audited Consolidated 1629054000.00 41894000.00 1670948000.00 1315931000.00 0.00 34884000.00 48752000.00 38485000.00 13373000.00 149476000.00 1600901000.00 70047000.00 -14245000.00 55802000.00 10363000.00 367000.00 10730000.00 0.00 45072000.00 0.00 0.00 0.00 0.00 45072000.00 -149717000.00 -104645000.00 45072000.00 0.00 -104645000.00 0.00 65534000.00 1 0.69 0.69 0.00 0.00 0.69 0.69 (a) The Financial Results of the Company for the Quarter and Year ended 31st March, 2024 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on 28th May, 2024. The Statutory Auditors of the Company have carried out Audit of these results and the results are being published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. (b) The Consolidated Financial Results comprise of Manaksia Steels Limited, its wholly owned subsidiary, Technomet International FZE, Federated Steel Mills Limited, Far East Steel Industries Limited and Sumo Agrochem Limited. Technomet International FZE has applied for volutanry liquidation, pending order, the effect of the same has not been given for. Pursuant to application for voluntary liquidation, Technomet Investment in equity shares of step down subsidiary Federated Steel Mills Limited, Far East Steel Industry Limited and Sumo Agrochem Limited has been transferred to Manaksia Steels Limited and same has been accounted for using the pooling of interest method in compliance with applicable Indian Accounting Standards. (c) As the Company's business activity falls within a single primary business segment, viz., Metals , the disclosure requirements of Ind AS 108, Operating Segments , are not applicable. (d) Comparative figures have been rearranged / regrouped wherever necessary. (e) Exceptional Items constitute Income/(Expense) :- Standalone Paticulars 31st Mar 24(Qtr) 31st Dec 23(Qtr) 31st Mar 24(FY) Reversal of Entry Tax Provision on account of SOD - 285.15 285.15 Foreign Exchange Loss on Devaluation of Nigerian Cur. - - - Total Exception Items - 285.15 285.15 Consolidated Paticulars 31st Mar 24(Qtr) 31st Dec 23(Qtr) 31st Mar 24(FY) Reversal of Entry Tax Provision on account of SOD - 285.15 285.15 Foreign Exchange Loss on Devaluation of Nigerian Cur. (142.45) (91.90) (291.04) Total Exception Items (142.45) 193.25 (5.89) In June 2023, the Central Bank of Nigeria ('CBN') announced changes to the operations in the Nigerian Foreign Exchange Market by abolishment of segmentation, with all segments now collapsing into the Investors and Exporters ('l&E') window and the reintroduction of the 'Willing Buyer, Willing Seller' model at the l&E window. This has resulted in significant devaluation of Nigerian currency against US Dollar. Consequently, for year ended 31st March 2024, the Group has incurred foreign exchange loss of Rs. 291.04 lacs and its impact for the quarter ended 31st March 2024 has Rs. 142.45 lacs in the subsidiary companies incorporated in Nigeria. Considering the extent of devaluation, the said exchange loss has been presented as an exceptional item in the consolidated financial results of the Group. Additionally, on account significant devaluation of Nigerian currency, the Group has recognised foreign currency translation loss for year ended 31st March 2024 of Rs. 1,521.78 lacs and its impact for the quarter ended 31st March 2024 has Rs. 315.17 lacs relating to translation of foreign operations into presentation currency (Rs.) of the Group, which is included in other comprehensive income. Single segment 2023-04-01 2024-03-31 Audited Consolidated 6810672000.00 156318000.00 6966990000.00 5598561000.00 0.00 4810000.00 205598000.00 82175000.00 69589000.00 627401000.00 6588134000.00 378856000.00 -589000.00 378267000.00 59404000.00 35027000.00 94431000.00 0.00 283836000.00 0.00 0.00 0.00 0.00 283836000.00 -183412000.00 100424000.00 283836000.00 0.00 100424000.00 0.00 65534000.00 1 2938897000.00 4.33 4.33 0.00 0.00 4.33 4.33 Other Expenses 149476000.00 Other Expenses 627401000.00 0.00 586223000.00 319807000.00 0.00 0.00 0.00 0.00 0.00 0.00 395250000.00 0.00 0.00 2978000.00 398228000.00 0.00 145737000.00 1449995000.00 1402023000.00 1456716000.00 262272000.00 82123000.00 210762000.00 0.00 17556000.00 2029429000.00 6423000.00 312098000.00 3749973000.00 0.00 0.00 5199968000.00 65534000.00 2938897000.00 3004431000.00 3004431000.00 0.00 0.00 1360000.00 1360000.00 11401000.00 84870000.00 0.00 0.00 97631000.00 1853106000.00 104371000.00 122955000.00 2080432000.00 9818000.00 5277000.00 2379000.00 0.00 2097906000.00 0.00 0.00 2195537000.00 5199968000.00 (f) The figures for the quarter ended 31st March 2024 and 31st March 2023, are the balancing figures between audited figures in respect of full financial year and year to date unaudited figures upto the third quarter of respective financial year which were subject to Limited Review. (g) The above Financial Results of the Company for the Quarter and Year ended 31st March, 2024 are available at the Company's website www.manaksiasteels.com and websites of all Stock Exchanges, where the Equity shares of the Company are listed. 82175000.00 -145794000.00 -96965000.00 0.00 -106566000.00 -93160000.00 0.00 100573000.00 0.00 -46783000.00 0.00 -19814000.00 0.00 69589000.00 0.00 -3245000.00 1353000.00 -428323000.00 0.00 -86566000.00 12248000.00 17880000.00 0.00 0.00 0.00 -39361000.00 0.00 0.00 0.00 -843015000.00 -464748000.00 0.00 0.00 0.00 56754000.00 0.00 -521502000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3118000.00 387196000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12248000.00 15114000.00 0.00 -486820000.00 0.00 -843536000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1371413000.00 0.00 0.00 4652000.00 0.00 70691000.00 0.00 0.00 1296070000.00 -68968000.00 36706000.00 -32262000.00 114385000.00 82123000.00 Remeasurement Gains/(Losses) on Post Employment Defined Benefit Plans 392000.00 Gains/(Losses) from Investments in Equity Instruments designated at FVTOCI -133800000.00 Remeasurement Gains/(Losses) on Post Employment Defined Benefit Plans 392000.00 Gains/(Losses) from Investments in Equity Instruments designated at FVTOCI -35600000.00 -133408000.00 -35208000.00 -15208000.00 -3974000.00 Foreign Currency Translation Reserve -31517000.00 Foreign Currency Translation Reserve -152178000.00 -31517000.00 -152178000.00 0.00 0.00