Maan Aluminium Limited has scheduled its 23rd Annual General Meeting (AGM) for Monday, September 28, 2026, at 11:30 am. The meeting will be conducted through Video Conferencing or Other Audio Visual Means (OAVM) in compliance with regulatory guidelines.

E-voting and Book Closure

The company has announced the cut-off date for determining members eligible for remote e-voting as September 21, 2026. The remote e-voting period will commence on September 25, 2026, at 9:00 am and conclude on September 27, 2026, at 5:00 pm.

To ascertain the list of members entitled to attend and vote at the AGM, the Register of Members and share transfer books will remain closed from September 22, 2026, to September 28, 2026, both days inclusive.

Accessing Meeting Materials

The notice for the 23rd AGM will be made available on the company’s website at www.maanaluminium.com . It will also be published on the websites of the Bombay Stock Exchange ( www.bseindia.com ) and the National Stock Exchange of India ( www.nseindia.com ).

This intimation is issued pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates the provision of e-voting facilities to members.

Maan Aluminium reported a net profit of ₹3 crore for the first quarter of FY27, up from ₹2 crore in Q4FY26. The company’s revenue from operations stood at ₹232 crore, marking a 10% year-on-year growth compared to ₹211 crore in Q1FY26. Although revenue declined sequentially from ₹255 crore in the preceding quarter, profitability metrics showed significant improvement.

Financial Performance

The company’s EBITDA rose approximately 40% quarter-on-quarter to ₹7 crore, improving the EBITDA margin to around 3% from 2% in Q4FY26. Profit before tax (PBT) was approximately ₹4 crore. Basic earnings per share (EPS) increased to ₹0.52 from ₹0.29 in the prior quarter.

For the full year FY26, revenue remained broadly stable at ₹809 crore against ₹810 crore in FY25. However, EBITDA grew by approximately 21% to ₹31 crore from ₹30 crore in FY25. Full-year PAT for FY26 was ₹13 crore, down from ₹16 crore in FY25.

What the Numbers Show

A key divergence in the results is the decoupling of revenue and profitability trends. While top-line growth moderated sequentially due to normal quarterly fluctuations in volumes and product mix, the bottom line expanded significantly. This suggests that the company is successfully managing cost structures and improving the quality of earnings through better operating performance, even as trading volumes face headwinds.

Operational Updates

Maan Aluminium is transitioning from a conventional aluminium extrusion player to a high value-added converter. The company currently holds total capacities of 12,000 tons per annum in foundry, 24,000 tons in extrusion, 3,600 tons in anodizing, and 1,400 tons in machining. Total manufacturing production for Q1FY27 was approximately 1,558 metric tons.

Exports account for roughly 45% of manufacturing revenues, serving markets including the US, UAE, Australia, UK, Qatar, and Israel. Management noted that export volumes have declined from historical highs of 60-70% due to duties and geopolitical issues impacting freight rates. Shipping costs have multiplied significantly, affecting costing and margins for customers in the GCC and East Asia.

Capital Expenditure and Outlook

The company has outlined a cumulative planned capex of approximately ₹166 crore over the next three years. Of this, ₹90 crore is allocated to new plants under development. In Q1FY27, capex expenditure was less than ₹5 crore, with major investments expected in H2FY27 following overseas visits to finalize machinery.

Key projects include:

• Dewas Facility: A strategic plant for aluminium precision tubing targeting aerospace, defense, and automotive sectors. Approximately ₹15-20 crore of the planned ₹45 crore capex has been incurred. The plant is expected to go online by mid-next year.
• Pithampur Facility: An Italian press is already online, with a ramp-up trajectory aiming for significant contribution by mid-next year.

Management emphasized a disciplined approach to working capital and capital allocation, stating no new debt will be taken for current capex plans. Employee expenses are not expected to rise significantly as technical teams are already onboarded.