MANAKSTEEL2023-07-012023-09-30 MANAKSTEEL2023-07-012023-09-30 MANAKSTEEL2023-07-012023-09-30in-bse-fin:OneOperatingExpenses01Member MANAKSTEEL2023-07-012023-09-30in-bse-fin:FourOperatingExpenses01Member MANAKSTEEL2023-09-30 MANAKSTEEL2023-07-012023-09-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member MANAKSTEEL2023-07-012023-09-30in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member MANAKSTEEL2023-07-012023-09-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member MANAKSTEEL2023-07-012023-09-30in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 539044 MANAKSTEEL NOTLISTED Manaksia Steels Limited Equity 2023-04-01 2024-03-31 2023-11-08 2023-11-01 INR Lakhs Half yearly 16:00:00 17:15:00 2023-11-08 2023-11-08 true Cash Flow Indirect Not applicable Single segment METALS 2023-07-01 2023-09-30 Unaudited Consolidated 1663347000.00 44927000.00 1708274000.00 1340447000.00 0.00 22502000.00 53112000.00 6828000.00 18257000.00 149468000.00 1590614000.00 117660000.00 405000.00 118065000.00 14422000.00 14485000.00 28907000.00 0.00 89158000.00 0.00 0.00 0.00 0.00 89158000.00 -81776000.00 7382000.00 0.00 0.00 65534000.00 1 1.36 1.36 0.00 0.00 1.36 1.36 Notes: (a) The Financial Results of the Company for the Quarter & Half Year ended 30th September, 2023 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 08th November, 2023. 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, Technomet International FZE and its step-down subsidiaries, 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. Consequent to liquidation, Federated Steel Mills Limited, Far East Steel Industry Limited and SUMO Agrochem Limited will became direct Wholly owned Subsidiaries of Manaksia Steels 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) Comparative figures have been rearranged / regrouped wherever necessary. (e) 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 the quarter ended 30 June 2023 and half year ended 30 September 2023, the Group has incurred foreign exchange loss of INR 60.74 lakhs and INR 56.69 lakhs 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 the quarter ended 30 June 2023 and half year ended 30 September 2023 of INR 987.59 Lakhs and INR 985.27 Lakhs relating to translation of foreign operations into presentation currency (INR) of the Group, which is included in other comprehensive income. (f) The above Financial Results of the Company for the Quarter & Half Year ended 30th September, 2023 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 2023-04-01 2023-09-30 Unaudited Consolidated 3845601000.00 78303000.00 3923904000.00 3054959000.00 0.00 144217000.00 106746000.00 14057000.00 37926000.00 307427000.00 3665332000.00 258572000.00 -5669000.00 252903000.00 43320000.00 18934000.00 62254000.00 0.00 190649000.00 0.00 0.00 0.00 0.00 190649000.00 24394000.00 215043000.00 0.00 0.00 65534000.00 1 2.91 2.91 0.00 0.00 2.91 2.91 Other Expenses 149468000.00 Other Expenses 307427000.00 609590000.00 139697000.00 0.00 0.00 569900000.00 0.00 0.00 2879000.00 572779000.00 99830000.00 1421896000.00 716042000.00 1171374000.00 143208000.00 41512000.00 199234000.00 0.00 115469000.00 1670797000.00 0.00 130612000.00 2517451000.00 3939347000.00 65534000.00 3053513000.00 3119047000.00 3119047000.00 0.00 10865000.00 2316000.00 13181000.00 94604000.00 107785000.00 140622000.00 127674000.00 414457000.00 682753000.00 12792000.00 9728000.00 7242000.00 0.00 712515000.00 820300000.00 3939347000.00 Notes: (a) The Financial Results of the Company for the Quarter & Half Year ended 30th September, 2023 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 08th November, 2023. 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, Technomet International FZE and its step-down subsidiaries, 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. Consequent to liquidation, Federated Steel Mills Limited, Far East Steel Industry Limited and SUMO Agrochem Limited will became direct Wholly owned Subsidiaries of Manaksia Steels 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) Comparative figures have been rearranged / regrouped wherever necessary. (e) 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 the quarter ended 30 June 2023 and half year ended 30 September 2023, the Group has incurred foreign exchange loss of INR 60.74 lakhs and INR 56.69 lakhs 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 the quarter ended 30 June 2023 and half year ended 30 September 2023 of INR 987.59 Lakhs and INR 985.27 Lakhs relating to translation of foreign operations into presentation currency (INR) of the Group, which is included in other comprehensive income. (f) The above Financial Results of the Company for the Quarter & Half Year ended 30th September, 2023 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. 14057000.00 540187000.00 22100000.00 0.00 74920000.00 -47252000.00 0.00 4487000.00 0.00 -23480000.00 0.00 -16840000.00 0.00 37926000.00 0.00 817000.00 814000.00 -126600000.00 0.00 0.00 12228000.00 9328000.00 0.00 -50847000.00 0.00 -5900000.00 0.00 0.00 0.00 402833000.00 655736000.00 0.00 0.00 0.00 29385000.00 0.00 626351000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 132979000.00 2885000.00 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 12228000.00 9243000.00 0.00 -264158000.00 0.00 -372531000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 341071000.00 808000.00 0.00 0.00 14193000.00 0.00 0.00 -356072000.00 -102252000.00 29379000.00 -72873000.00 114385000.00 41512000.00 Gains/(Losses) from Investments in Equity Instruments designated at FVTOCI -92600000.00 Gains/(Losses) from Investments in Equity Instruments designated at FVTOCI 138800000.00 -92600000.00 138800000.00 -10593000.00 15879000.00 Foreign Currency Translation Reserve 231000.00 Foreign Currency Translation Reserve -98527000.00 231000.00 -98527000.00 0.00 0.00