Maan Aluminium Ltd has confirmed that shares held by its promoters and members of the promoter group remain free of any encumbrances for the financial year ended March 31, 2026. The disclosure, filed on April 7, 2026, assures stakeholders that no shares have been pledged or otherwise encumbered during this period.

The company submitted the confirmation to the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires listed entities to disclose the status of share pledges held by promoters on an annual basis.

Disclosure Details

The filing explicitly states that the shares belonging to the promoters and the promoter group of Maan Aluminium Ltd have not been pledged. Furthermore, the company confirmed that these shares are entirely free and clear of all encumbrances as of the specified date.

The confirmation was signed by Priti Jain, bearing DIN 01007557, on behalf of Maan Aluminium Ltd. The document was addressed to the corporate services departments of both major stock exchanges to update their official records.

Maan Aluminium reported a 19% decline in profit after tax (PAT) to ₹13 crore for the fiscal year ended March 31, 2026 (FY26), while revenue from operations remained stable at ₹809 crore compared to the previous year. The company's net worth increased significantly by 54% to ₹274 crore, driven by a preferential capital raise of ₹83 crore which strengthened its balance sheet for ongoing expansion initiatives. Management attributed the profitability decline to increased raw material prices, lower export contribution, and higher operating costs due to an energy crisis and restricted gas supply during the year.

Financial Performance

For the quarter ended March 31, 2026 (Q4FY26), revenue grew 4% year-on-year to ₹255 crore, while PAT declined 50% to ₹2 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) fell to ₹5 crore in Q4FY26 from ₹9 crore in the corresponding previous quarter, with the EBITDA margin contracting to 2% from 4%. For the full year FY26, EBITDA increased marginally by 3% to ₹31 crore against ₹30 crore in FY25, with a margin of 4%.

Strategic Expansion and CAPEX

The company is executing a capital expenditure plan to transition from a traditional extrusion player to a higher value-added aluminium converter. A new Italian extrusion line commissioned in March 2025 increased extrusion capacity from 10,000 TPA to 24,000 TPA, enabling the processing of wider profiles and advanced alloys for aerospace, defence, and automotive sectors. The Dewas facility, acquired for ₹8.75 crore, is undergoing modernization to house a precision tube line. Management projected a total CAPEX of approximately ₹166 crore over three years, with specific allocations of ₹40 crore to ₹50 crore for FY27 and ₹35 crore to ₹40 crore for FY28.

Operational Outlook

Management indicated that the commercial ramp-up of new capacities has taken longer than anticipated due to customer qualification cycles and slower industrial demand. While the current fiscal year is expected to be flattish with volumes around 7,000-7,500 metric tons, the company remains confident of achieving 75-80% capacity utilization over the next three years. The focus is on increasing throughput in value-added segments such as fabrication, anodizing, powder coating, and tubing, which command significantly higher margins. The company is also diversifying its export markets to reduce geographical concentration risks, particularly regarding the US market where tariffs and container availability have impacted shipments.