Maan Aluminium FY26 net profit falls 16% to ₹1,302 crore
Maan Aluminium reported a 16% decline in FY26 net profit to ₹1,302 crore, with revenue at ₹80,871 crore. Q4 profit fell to ₹169 crore on revenue of ₹2,545.7 crore, with EBITDA margins contracting to 0.64%. Total equity rose to ₹2,999 crore following a preferential allotment.

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Maan Aluminium Limited reported a 16% decline in net profit to ₹1,302 crore for the financial year ended March 31, 2026 (FY26), down from ₹1,551 crore in the previous year. The company's board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. Revenue from operations for FY26 stood at ₹80,871 crore, slightly lower than ₹81,017 crore in FY25, reflecting stable top-line performance amidst profitability challenges.
Quarterly Performance
For the quarter ended March 31, 2026 (Q4FY26), the company recorded a net profit of ₹169 crore, a sharp decline from ₹394 crore in the corresponding period of the previous year. Revenue for the quarter increased to ₹2,545.7 crore from ₹2,458.6 crore in Q4FY25. However, operating margins compressed significantly, with EBITDA falling to ₹1.6 crore compared to ₹7.7 crore in the prior year. The EBITDA margin contracted to 0.64% from 3.13% year-on-year. Earnings per share (EPS) for the quarter stood at ₹0.29, down from ₹0.73 in Q4FY25.
| Metric | Q4FY26 | Q4FY25 | Change (YoY) |
|---|---|---|---|
| Net Profit | ₹169 crore | ₹394 crore | Decline |
| Revenue | ₹2,545.7 crore | ₹2,458.6 crore | Increase |
| EBITDA | ₹1.6 crore | ₹7.7 crore | Decline |
| EBITDA Margin | 0.64% | 3.13% | Contraction |
Full-Year Financial Performance
On an annual basis, the company's total equity increased to ₹2,999 crore as of March 31, 2026, up from ₹2,704 crore a year earlier. This rise was driven by the allotment of 59,00,000 equity shares on a preferential basis on January 16, 2026, at ₹141 per share, raising ₹8,319 crore. The funds were designated for capital expenditure, working capital requirements, and general corporate purposes. Total income for FY26 was ₹81,922 crore.
| Metric | FY26 | FY25 |
|---|---|---|
| Revenue from Operations | ₹80,871 crore | ₹81,017 crore |
| Net Profit | ₹1,302 crore | ₹1,551 crore |
| Total Equity | ₹2,999 crore | ₹2,704 crore |
| EPS | ₹2.35 | ₹2.87 |
Operational Highlights
The company recognised a liability regarding the labour codes notified by the Government of India on November 21, 2025. The business activities of the company primarily fall within a single business and geographical segment, and as such, there is no separate reportable segment as per Ind AS 108. The auditors, Khandelwal & Khandelwal Associates, issued an unmodified opinion on the financial results.
Historical Stock Returns for Maan Aluminium
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.20% | -4.23% | -13.92% | -24.38% | -3.04% | -24.38% |
What specific factors caused the severe EBITDA margin compression in Q4FY26, and are these pressures expected to persist?
How does the company plan to utilize the ₹8,319 crore raised via preferential allotment to restore profitability?
What is the estimated financial impact of the liability recognized regarding the new labour codes notified in November 2025?































