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

Manaksia Coated Metals & Industries Limited has approved a preferential issue of equity warrants to raise ₹134.55 crore. The company plans to issue 207,000 warrants priced at ₹65 each, which will fund capacity expansion and a major technology upgrade. Production capacity for Alu-Zinc Coated Steel products will increase from 132,000 MTPA to 180,000 MTPA, marking a 36% rise in output. Additionally, a new steel coil coating line will boost Pre-painted Steel capacity from 86,000 MTPA to 236,000 MTPA.

This initiative aims to enhance product value and margins while meeting growing market demand. A portion of the funds will also support a captive solar power project, reflecting a commitment to sustainability and energy efficiency. The executive team expressed optimism that these strategic moves will strengthen operational efficiency and profitability while positively impacting the environment.

In H1 FY25, the company reported total revenue of ₹372 crore, EBITDA of ₹29 crore, and a net profit of ₹5 crore, highlighting its stable financial foundation for these ambitious growth plans.