Manaksia shares increase by 3% and reach a new high as the business board declares a dividend.

On Monday, shares of Manaksia jumped more than 3% to Rs 181.15, and the company was worth close to Rs 1,185 crore on the market.

On Monday, shares of Manaksia, a stock that has gone up by more than 100%, went up by another 3% to hit new all-time highs. In the last three years, the stock of iron goods players has gone up more than four times, and in the last five years, it has gone up more than 220%.

On Monday, shares of Manaksia jumped more than 3% to Rs 181.15 before giving up some of their gains. The value of the company on the stock market was close to Rs 1,185 crore. From its 52-week low of Rs 68.35 on June 21, 2022, the stock has gone up by more than 165%.

On Saturday, the board of directors of Manaksia announced a dividend for the company’s owners. The board suggested a final dividend of Rs 3 per stock share, which is 150% more than each share’s face value of Rs 2. But the owners of the company have to agree with the suggestion for it to happen.

Manaksia’s net profit for the March 2023 quarter was Rs 10.57 crore. The company’s revenue from operations jumped about 150% year-on-year (YoY) to Rs 60.62 crore in the quarter that ended on March 31, 2023, compared to a total income of Rs 24.56 crore during the same time last year. EBITDA for the quarter rose by 27% to Rs 11.58 crore.

But Manaksia’s net profit shot up by 1,050% to Rs 97.22 crore for the year that finished on March 31, 2023, from Rs 8.46 crore the year before. During the whole year, operating income jumped by 130% to Rs 143.34 crore.

Manaksia is a holding company based in Kolkata that was founded in 1984. It has manufacturing subsidiaries in India, Nigeria, and Ghana that make aluminium, packaging goods, and iron and steel. Mark Steels makes sponge iron in Purulia, West Bengal. This company is a fully owned subsidiary.

Jebba Paper Mills Limited is the only step-down subsidiary business that Manaksia has in Nigeria. Its company in Nigeria, which it owns 100% of, is the market leader in Nigeria for ROPP caps and crown corks. Dynatech Industries Ghana is another step-down subsidiary of Manaksia. It is based in Accra, Ghana, and makes flat steel goods.

Ajith Kumar

Ajith Kumar

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