Manaksia Coated Metals & Industries Limited — Updates, 02-12-2024: Press Release (Revised)

Manaksia Coated Metals & Industries Limited has approved a preferential issue of equity warrants to raise ₹134.55 crore through the issuance of 2,07,00,000 warrants at ₹65 each. This initiative aligns with the company’s plans for significant capacity expansion and a technology upgrade.

Key developments include increasing production capacity from 132,000 MTPA to 180,000 MTPA for Alu-Zinc products, reflecting a 36% output increase. Additionally, a new steel coil coating line will boost Pre-painted Steel capacity from 86,000 MTPA to 236,000 MTPA. A portion of the funds will also be allocated for optimizing the working capital cycle and establishing a captive solar power plant, underscoring the company’s commitment to sustainability and energy efficiency.

Overall, this strategic move is expected to enhance profitability, improve financial flexibility, and position the company favorably to meet rising market demand. The outlook remains positive, with initiatives aimed at driving operational efficiency and environmental sustainability.