MANAKSTEEL2024-07-012024-09-30 MANAKSTEEL2024-07-012024-09-30 MANAKSTEEL2024-07-012024-09-30in-bse-fin:OneOperatingExpenses01Member MANAKSTEEL2024-07-012024-09-30in-bse-fin:FourOperatingExpenses01Member MANAKSTEEL2024-09-30 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 539044 MANAKSTEEL NOTLISTED Manaksia Steels Limited Equity 2024-04-01 2025-03-31 2024-11-08 2024-11-01 INR Lakhs Half yearly 12:30:00 15:10:00 2024-11-08 2024-11-08 true Cash Flow Indirect Not applicable Single segment Metals 2024-07-01 2024-09-30 Unaudited Standalone 954473000.00 89404000.00 1043877000.00 1022108000.00 0.00 -184064000.00 39052000.00 11837000.00 12492000.00 112072000.00 1013497000.00 30380000.00 0.00 30380000.00 7500000.00 -916000.00 6584000.00 0.00 23796000.00 0.00 0.00 0.00 0.00 23796000.00 36474000.00 60270000.00 0.00 0.00 65534000.00 1 0.36 0.36 0.00 0.00 0.36 0.36 (a) The Financial Results of the Company for the Quarter and Half Year ended 30th September, 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 8th November, 2024. The Statutory Auditors of the Company have carried out Limited Review 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, Federated Steel Mills Limited, Far East Steel Industries Limited and Sumo Agrochem Limited. (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) Exceptional Items constitute Income/(Expense) :- Standalone Paticulars 31st Mar 24(FY) Reversal of Entry Tax Provision on account of SOD 285.15 Foreign Exchange Loss on Devaluation of Nigerian Cur. - Total Exception Items 285.15 Consolidated Paticulars 30th Sep 24(Qtr) 30th June 24(Qtr) 30th Sep 23(Qtr) Reversal of Entry Tax Provision on account of SOD - - - Foreign Exchange Loss on Devaluation of Nigerian Cur. (20.92) (42.97) (4.05) Total Exception Items (20.92) (42.97) (4.05) Consolidated Paticulars 30th Sep 24(HY) 30th Sep 23(HY) 31st Mar 24(FY) Reversal of Entry Tax Provision on account of SOD - - 285.15 Foreign Exchange Loss on Devaluation of Nigerian Cur. (63.89) (56.69) (291.03) Total Exception Items (63.89) (56.69) (5.89) * Due to continued volatility resulting from significant devaluation of the Nigerian currency, the Group has incurred foreign exchange losses in its subsidiary companies based in Nigeria. These losses have been reported as an exceptional item in the Group's consolidated financial results. (e) In the quarter under review, the liquidation process for Technomet International FZE, a wholly owned subsidiary has been completed. Pursuant to this liquidation, the cumulative foreign exchange difference of INR 603.52 lacs, previously recognized in the Foreign Currency Translation Reserve, has been reclassified from Other Comprehensive Income to the Other Income of Profit & Loss Statement in the Consolidated Financials, in accordance with the provisions of Ind AS 21. (f) Comparative figures have been rearranged / regrouped wherever necessary. (g) The above Financial Results of the Company for the Quarter & Half Year ended 30th September, 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. Single segment 2024-04-01 2024-09-30 Unaudited Standalone 2517539000.00 127419000.00 2644958000.00 2225543000.00 0.00 -1513000.00 77967000.00 27039000.00 24171000.00 224372000.00 2577579000.00 67379000.00 0.00 67379000.00 18000000.00 2324000.00 20324000.00 0.00 47055000.00 0.00 0.00 0.00 0.00 47055000.00 33457000.00 80512000.00 0.00 0.00 65534000.00 1 0.72 0.72 0.00 0.00 0.72 0.72 Other Expenses 112072000.00 Other Expenses 224372000.00 545964000.00 688747000.00 0.00 0.00 0.00 0.00 0.00 0.00 672889000.00 0.00 0.00 7073000.00 679962000.00 0.00 20917000.00 1935590000.00 1492700000.00 366533000.00 252222000.00 46998000.00 198913000.00 0.00 16546000.00 881212000.00 0.00 447926000.00 2821838000.00 0.00 0.00 4757428000.00 65534000.00 3104692000.00 3170226000.00 3170226000.00 0.00 0.00 1758000.00 1758000.00 12285000.00 87018000.00 0.00 0.00 101061000.00 1322420000.00 112550000.00 32745000.00 1467715000.00 11621000.00 5686000.00 1119000.00 0.00 1486141000.00 0.00 0.00 1587202000.00 4757428000.00 (a) The Financial Results of the Company for the Quarter and Half Year ended 30th September, 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 8th November, 2024. The Statutory Auditors of the Company have carried out Limited Review 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, Federated Steel Mills Limited, Far East Steel Industries Limited and Sumo Agrochem Limited. (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) Exceptional Items constitute Income/(Expense) :- Standalone Paticulars 31st Mar 24(FY) Reversal of Entry Tax Provision on account of SOD 285.15 Foreign Exchange Loss on Devaluation of Nigerian Cur. - Total Exception Items 285.15 Consolidated Paticulars 30th Sep 24(Qtr) 30th June 24(Qtr) 30th Sep 23(Qtr) Reversal of Entry Tax Provision on account of SOD - - - Foreign Exchange Loss on Devaluation of Nigerian Cur. (20.92) (42.97) (4.05) Total Exception Items (20.92) (42.97) (4.05) Consolidated Paticulars 30th Sep 24(HY) 30th Sep 23(HY) 31st Mar 24(FY) Reversal of Entry Tax Provision on account of SOD - - 285.15 Foreign Exchange Loss on Devaluation of Nigerian Cur. (63.89) (56.69) (291.03) Total Exception Items (63.89) (56.69) (5.89) * Due to continued volatility resulting from significant devaluation of the Nigerian currency, the Group has incurred foreign exchange losses in its subsidiary companies based in Nigeria. These losses have been reported as an exceptional item in the Group's consolidated financial results. (e) In the quarter under review, the liquidation process for Technomet International FZE, a wholly owned subsidiary has been completed. Pursuant to this liquidation, the cumulative foreign exchange difference of INR 603.52 lacs, previously recognized in the Foreign Currency Translation Reserve, has been reclassified from Other Comprehensive Income to the Other Income of Profit & Loss Statement in the Consolidated Financials, in accordance with the provisions of Ind AS 21. (f) Comparative figures have been rearranged / regrouped wherever necessary. (g) The above Financial Results of the Company for the Quarter & Half Year ended 30th September, 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. 27039000.00 -143437000.00 5824000.00 0.00 -143691000.00 0.00 124820000.00 622000.00 0.00 26676000.00 0.00 5376000.00 0.00 24171000.00 0.00 409000.00 884000.00 6115000.00 0.00 0.00 51000.00 8374000.00 0.00 0.00 0.00 -42397000.00 -4690000.00 -71380000.00 0.00 -192084000.00 -124705000.00 0.00 0.00 0.00 10457000.00 0.00 -135162000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 24170000.00 469530000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 250000.00 0.00 0.00 0.00 0.00 0.00 51000.00 15760000.00 0.00 1131972000.00 0.00 702673000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 506532000.00 0.00 2387000.00 0.00 31690000.00 0.00 0.00 -540609000.00 26902000.00 0.00 26902000.00 20096000.00 46998000.00 42560000.00 39040000.00 6086000.00 5583000.00 0.00 0.00