Manaksia Aluminium Company Ltd (MANAKALUCO) AI Stock Analysis

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Manaksia Aluminium Company Ltd

(NSE:MANAKALUCO)

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Rating:45Neutral

Price Target:INR 31.00▼(-2.55% Downside)

Action:reiterated

Date:10/22/26

The score is held back primarily by weak financial quality—rising leverage alongside thin margins and persistently negative free cash flow. Technicals add further pressure as the stock is in a clear downtrend with negative momentum, despite oversold readings. Valuation is only neutral (moderate P/E and very low dividend yield) and does not materially offset the fundamental and technical risks.

Positive Factors

Revenue RecoveryThe return to revenue growth indicates improving demand and business activity after an uneven period. Continued top-line recovery can support better capacity utilization, strengthen customer relationships, and provide a foundation for earnings improvement over the next several quarters.

Negative Factors

Rising LeverageIncreasing leverage raises the financial burden on a low-margin business and reduces flexibility during periods of weaker demand or profitability. A heavier debt load can also absorb cash that might otherwise support investment, deleveraging, or shareholder returns.

Manaksia Aluminium Company Ltd (MANAKALUCO) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 2.07B
Dividend Yield: 0.16%
Average Volume (3M): 7,460
Price to Earnings (P/E): 23.4
Beta (1Y): 1.17
Revenue Growth: 1.29%
EPS Growth: 28.42%
Country: India
Employees: 304
Sector: General
Sector Strength: 55
Industry: Aluminum

Manaksia Aluminium Company Ltd Business Overview & Revenue Model

Company Description

Established in 2010 and headquartered in Kolkata, India, Manaksia Aluminium Company Limited specializes in the production and distribution of various aluminum products. While its primary sales focus is within India, the company also boasts an interna...

Manaksia Aluminium Company Ltd Financial Statement Overview

Summary

Revenue recovery and steady operating profitability are positives, but overall financial quality is constrained by very thin net margins (~1.3%), rising leverage (debt-to-equity ~1.69), and weak cash conversion with consistently negative free cash flow.

Income Statement

58Neutral

Balance Sheet

44Neutral

Cash Flow

31Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	5.69B	5.64B	5.09B	4.32B	4.83B	4.38B
Gross Profit	1.38B	1.26B	1.51B	527.85M	1.19B	1.22B
EBITDA	498.92M	481.74M	439.22M	327.84M	315.88M	244.01M
Net Income	88.49M	75.56M	60.46M	50.86M	88.66M	74.56M
Balance Sheet
Total Assets	0	5.51B	5.04B	4.18B	3.79B	3.72B
Cash, Cash Equivalents and Short-Term Investments	181.22M	181.22M	262.67M	1.15M	980.00K	4.56M
Total Debt	0	2.41B	2.39B	1.72B	1.46B	1.29B
Total Liabilities	-1.42B	4.09B	3.69B	2.88B	2.54B	2.56B
Stockholders Equity	1.42B	1.42B	1.35B	1.30B	1.25B	1.16B
Cash Flow
Free Cash Flow	-206.07M	-42.39M	-306.88M	-102.97M	-21.98M	-26.52M
Operating Cash Flow	-115.12M	127.29M	9.69M	60.58M	132.98M	79.20M
Investing Cash Flow	-92.02M	-189.18M	-332.55M	-106.53M	-155.75M	-125.47M
Financing Cash Flow	138.98M	16.01M	391.19M	46.12M	22.07M	46.56M

Manaksia Aluminium Company Ltd Technical Analysis

Technical Analysis SentimentNeutral

Last Price31.81

Price Trends

50DMA33.15Negative

100DMA35.14Negative

200DMA34.24Negative

Market Momentum

MACD-0.44Negative

RSI54.66Neutral

STOCH94.62Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANAKALUCO, the sentiment is Neutral. The current price of 31.81 is above the 20-day moving average (MA) of 29.79, below the 50-day MA of 33.15, and below the 200-day MA of 34.24, indicating a neutral trend. The MACD of -0.44 indicates Negative momentum. The RSI at 54.66 is Neutral, neither overbought nor oversold. The STOCH value of 94.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MANAKALUCO.

Manaksia Aluminium Company Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:MANAKALUCO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:NATIONALUM	70Outperform	INR 597.09B	8.55	―	3.59%	13.51%	17.06%
IN:HINDALCO	66Neutral	INR 2.16T	11.15	―	0.52%	26.67%	8.07%
IN:ARFIN	64Neutral	INR 15.93B	73.27	―	0.13%	53.74%	209.29%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:GOYALALUM	50Neutral	INR 827.85M	24.41	―	―	30.23%	14.53%
IN:MANAKALUCO	45Neutral	INR 2.06B	23.36	―	0.16%	1.29%	28.42%
IN:MAANALU	41Neutral	INR 6.23B	42.51	―	―	-1.80%	-10.89%

* General Sector Average

Performance Comparison

IN:MANAKALUCO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:MANAKALUCO	Manaksia Aluminium Company Ltd	31.81	4.59	16.85%
IN:GOYALALUM	Goyal Aluminiums Limited	5.85	-1.22	-17.26%
IN:HINDALCO	Hindalco Industries Limited	964.20	165.02	20.65%
IN:MAANALU	Maan Aluminium Limited	104.10	-29.60	-22.14%
IN:NATIONALUM	National Aluminium Co. Ltd.	332.40	78.73	31.04%
IN:ARFIN	Arfin India Ltd	94.45	37.00	64.39%

Manaksia Aluminium Company Ltd Corporate Events

Manaksia Aluminium Confirms Fully Reconciled Share Capital for September 2026 Quarter

Oct 12, 2026

Manaksia Aluminium Company Limited, an aluminium sector player with equity shares listed on BSE and NSE, maintains an issued capital of 65,534,050 shares with a face value of Re 1 each. Its shareholding structure is predominantly dematerialised via C...

Manaksia Aluminium Files Minutes of 16th AGM Held Via Video Conferencing

Oct 5, 2026

Manaksia Aluminium Company Limited reported that it held its 16th Annual General Meeting on September 22, 2026, at its registered office in Kolkata, conducted entirely through video conferencing and other audio-visual means in line with Ministry of C...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 22, 2026

Manaksia Aluminium Company Ltd AI Stock Analysis