Maan Aluminium Limited — Investor Meet, 25-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

MAAN Aluminium's Q2 FY'26 earnings call highlights a strategic pivot towards high-margin manufacturing and value-added products. The company reported Q2 revenue of ~Rs. 191 Cr, operating profit of Rs. 7.96 Cr, and PBT of Rs. 7.77 Cr. Management is investing heavily in value-added services like anodizing, machining, and a unique 100% import substitute precision manufacturing unit (Dewas unit, Rs. 21 Cr completed, Rs. 25 Cr additional planned), targeting aerospace, defense, and EV sectors. While US anti-dumping duties impacted past performance, and new capacity will initially cause a utilization dip to 27-28%, the company expects 80% utilization in 3 years and EBITDA margins to rebound to 15-18%. Management expresses confidence in achieving 5x growth in 3-5 years by focusing on quality and niche markets.