MAN Coat Metal & IND Ltd
NSE: MANAKCOAT · Iron & Steel Products · sector
₹120.01NSE close 2026-10-26
Key numbers
Market cap₹1,280 cr
Price₹120.01
52w high / low₹183 / ₹94
P/E28.7xSector median 15.5x
P/B3.7xSector median 1.7x
Book value₹32.7
Dividend yield–Sector median 0.60%
ROE14.2%Sector median 11.1%
ROCE17.7%Sector median 11.9%
OPM9.4%Sector median 6.7%
Debt / equity0.33xSector median 0.21x
EV/EBITDA16.2xSector median 11.8x
Interest cover2.9x
Current ratio1.79x
Sales growth 3y+10.7%Sector median +2.1%
Profit growth 3y+63.2%Sector median +13.0%
PEG0.63x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹34 cr vs borrowings ₹115 cr (FY26): borrowings are higher by ₹82 cr.
- Borrowings fell in each of the last 3 years (₹182 cr → ₹115 cr).
- Operating profit covered interest 2.9x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding rose by 2.23 percentage points in a year, to 57.78% (2026-09-30).
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY23, FY22).
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 21% of net profit in the last 12 months.
- Debtor days went from 27 (FY24) to 40 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹120.01 on 2026-10-26: -34.4% from the 52-week high, +27.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹180.31 · low ₹59.17
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 175 | 205 | 208 | 250 | 220 | 187 | 227 | 262 |
| EBITDA | 12 | 14 | 15 | 24 | 26 | 15 | 14 | 28 |
| OPM % | 6.9% | 7.1% | 7.3% | 9.8% | 11.8% | 8.3% | 6.3% | 10.7% |
| Other income | 2 | 3 | 2 | 4 | 3 | 3 | 1 | 1 |
| Net profit | 2 | 5 | 5 | 14 | 14 | 7 | 5 | 14 |
| EPS (₹) | 0.32 | 0.67 | 0.68 | 1.47 | 1.45 | 0.74 | 0.66 | 1.33 |
| Revenue YoY | +26.0% | -8.9% | +9.4% | +4.9% | ||||
| Profit YoY | +491.5% | +46.7% | +6.8% | +0.6% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 648 | 652 | 740 | 782 | 884 | 897 |
| EBITDA | 35 | 37 | 50 | 55 | 80 | 84 |
| Net profit | 9 | 9 | 11 | 15 | 41 | 41 |
| EPS (₹) | 1.32 | 1.43 | 1.67 | 2.07 | 4.41 | 4.18 |
| Revenue growth | +0.6% | +13.5% | +5.7% | +13.2% | +7.1% | |
| Profit growth | +8.6% | +20.1% | +36.9% | +164.4% | +54.4% | |
| Dividend / share (₹) | 0.03 | – | 0.03 | 0.05 | 0.05 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.7% | +14.7% | +7.1% |
| Net profit | +63.2% | +47.4% | +54.4% |
| EPS | +45.6% | +37.7% | – |
| Share price | – | +48.1% (2y) | -16.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 119 | 152 | 227 | 349 |
| Borrowings | – | 182 | 178 | 142 | 115 |
| Cash & equivalents | – | 20 | 22 | 25 | 34 |
| Total assets | – | 548 | 537 | 646 | 755 |
| Fixed assets | – | 122 | 119 | 112 | 168 |
| Capital work in progress | – | 49 | 49 | 68 | 31 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 43 | 56 | 51 | 98 |
| Inventory | – | 255 | 231 | 287 | 339 |
| Payables | – | 195 | 164 | 238 | 244 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -13 | 8 | 22 | 30 | -9 |
| Cash from investing | 9 | -8 | -6 | -20 | -17 |
| Cash from financing | 6 | -6 | -16 | -10 | 25 |
| Capex | 7 | 11 | 8 | 22 | 43 |
| Free cash flow | -19 | -3 | 14 | 8 | -52 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 7.8% | 7.4% | 6.8% | 11.7% |
| ROCE % | – | 11.1% | 14.4% | 14.6% | 17.9% |
| Debtor days | – | 24 | 27 | 24 | 40 |
| Inventory days | – | 180 | 143 | 171 | 188 |
| Payable days | – | 138 | 102 | 142 | 135 |
| Cash conversion cycle (days) | – | 66 | 68 | 53 | 93 |
| Working capital days | – | 25 | 31 | 60 | 101 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 57.78% |
| FIIs | 0.19% |
| DIIs | 0.59% |
| Government | 0.00% |
| Public (non-institutions) | 41.45% |
| Quarter | Jun 2025 | Jul 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 56.17% | 55.55% | 55.55% | 57.46% | 57.46% | 57.78% | 57.78% | 57.78% |
| Promoter group | % |
|---|---|
| Sushil Kumar Agrawal | 31.99% |
| Shailaja Agrawal | 11.86% |
| Karan Agrawal | 6.56% |
| Tushar Agrawal | 5.98% |
| Devansh Agrawal | 0.70% |
| Sushil Kumar Agrawal & Sons HUF | 0.46% |
| Mruga Agrawal | 0.12% |
| Vidisha Agrawal | 0.11% |
| Manju Agrawal | 0.00% |
| Sunil Kumar Agrawal | 0.00% |
| Kanta Devi Agrawal | 0.00% |
| Mahabir Prasad Agrawal | 0.00% |
| MP Agrawal and Sons HUF | 0.00% |
| Sumitra Devi Agarwalla | 0.00% |
| Anirudha Agrawal | 0.00% |
| Public holders above 1% | % |
|---|---|
| Elysian Wealth Fund | 4.03% |
| Jitendra Rasiklal Sanghavi | 2.34% |
| Gita Renewable Energy Limited | 2.07% |
| Saumik Ketankumar Doshi | 1.87% |
| Hitesh Natwarlal Kawa | 1.69% |
28,465 shareholders. Pledged: 0.00% of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| MANAKCOAT | ₹1,280 cr | 28.7x | 3.7x | 14.2% | 17.7% | 9.4% | +10.7% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Metal Products | ₹872 cr | 98.5% | ₹98 cr | 11.3% |
| Others | ₹13 cr | 1.5% | ₹1 cr | 11.1% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-27 | Dividend | Dividend - Re 0.05 Per Share |
| 2025-09-08 | Dividend | Dividend - Re 0.05 Per Share |
| 2024-09-13 | Dividend | Annual General Meeting/Dividend - Re 0.05 Per Share |
| 2023-08-22 | Dividend | Annual General Meeting/Dividend - Re 0.03 Per Share |
| 2022-09-05 | Other | Annual General Meeting |
| 2021-09-16 | Dividend | Annual General Meeting/Dividend - Rs 0.03 Per Share |
| 2020-09-16 | Other | Annual General Meeting |
| 2019-09-16 | Other | Annual General Meeting |
| 2018-09-18 | Other | Annual General Meeting |
| 2017-09-13 | Other | Annual General Meeting |
| 2016-09-14 | Other | Annual General Meeting |
| 2015-09-15 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | MANAKCOAT |
| BSE code | 539046 |
| ISIN | INE830Q01018 |
| Face value | ₹1.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.