Manaksia Coated Metals & Industries Limited has submitted copies of newspaper advertisements to BSE Limited and the National Stock Exchange of India Limited, confirming the publication of notices for meetings convened by the National Company Law Tribunal (NCLT), Kolkata Bench. The advertisements were published in all editions of Business Standard (English) and Ekdin (Bengali) newspapers on May 8, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meetings have been called to seek approval for a proposed Scheme of Amalgamation between the company and its wholly owned subsidiary, JPA Snacks Private Limited. The NCLT order dated April 24, 2026, directed the company to convene meetings of equity shareholders, secured creditors, and unsecured creditors under Sections 230 to 232 of the Companies Act, 2013.

Meeting Schedule and Key Dates

All meetings will be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM), with the deemed venue being the Registered Office of Manaksia Coated Metals & Industries Limited in Kolkata. The key dates and timings for each meeting are summarised below:

The Tribunal has appointed Advocate Parikshit Poddar as Chairperson and Ms. Bidisha Achari as Scrutinizer. Remote e-voting facilities are available through the National Securities Depository Limited (NSDL) platform.

Scheme of Merger: Background and Rationale

The proposed Scheme involves the amalgamation of JPA Snacks Private Limited (Transferor Company) into Manaksia Coated Metals & Industries Limited (Transferee Company). JPA Snacks Private Limited is a wholly owned subsidiary incorporated on February 1, 2017. The Transferee Company holds 100% of the issued, subscribed, and paid-up equity share capital of the Transferor Company.

The management stated that the amalgamation aims to consolidate business under a single entity and achieve a simplified corporate structure. The benefits include streamlining the organization, strengthening the financial position, enhancing net-worth, and reducing the multiplicity of legal and regulatory compliances. The Appointed Date is April 1, 2025, and the Effective Date is the date of sanction by the NCLT.

Share Capital and Structural Details

Since the Transferor Company is a wholly owned subsidiary, no new equity shares will be issued by the Transferee Company. All shares of the Transferor Company held by the Transferee Company will stand cancelled upon the Scheme becoming effective. Consequently, there will be no change in the shareholding pattern or capital structure of the Transferee Company.

The Board of Directors of the Transferee Company approved the Scheme at meetings held on July 22, 2025, and October 27, 2025. The Board of the Transferor Company also approved the Scheme on October 27, 2025. The accounting treatment has been certified by S. Bhalotia & Associates, Chartered Accountants. The Scheme is subject to the sanction of the NCLT, Kolkata Bench, and other regulatory approvals.

Manaksia Coated Metals & Industries Limited announced its audited financial results for the quarter and full year ended March 31, 2026. The Board of Directors, meeting on May 6, 2026, approved the standalone and consolidated results. The company reported a landmark financial year with revenue crossing ₹896 crore, profit after tax surging 164% year-on-year on a consolidated basis, and export volumes reaching an all-time high. In accordance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published a corrigendum to its audited financial results for the quarter and year ended March 31, 2026, in all editions of Business Standard (English) and Ekdin (Bengali) newspapers on May 7, 2026. The corrigendum filing was signed by Shruti Agarwal, Company Secretary & Compliance Officer (Membership No.: F12124). Pursuant to Regulations 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the investor conference call held on May 7, 2026, to discuss the financial results for the quarter ended March 31, 2026, is now available on the company's website. The management attendees for the call included Mr. Karan Agrawal (Whole Time Director), Mr. Tushar Agrawal (Senior Vice President), Mr. Mahendra Kumar Bang (CFO), and Ms. Sana Kapoor (Investor Relations). The company has confirmed that no unpublished price sensitive information was shared or discussed during the call. The recording can be accessed at https://www.manaksiacoatedmetals.com/investor/company-updates-announcements .

Company Overview

MCMIL is a leading manufacturer and exporter of Alu-Zinc Steel and Pre-Painted Steel with 15+ years of experience, serving 240+ active customers across 20+ Indian states and over 22 countries worldwide across 5 continents. The company operates 1 manufacturing plant, supported by 4 branch offices and 5 stock yards & service centres that underpin a strong nationwide network.

Consolidated Financial Performance

MCMIL delivered strong growth across key financial metrics for the full year. On a consolidated basis, Revenue from Operations grew 13.50% YoY to ₹896.27 crore, while EBITDA expanded 49.21% to ₹92.21 crore. Profit After Tax (PAT) surged 164% to ₹40.69 crore from ₹15.39 crore in the previous year. For the quarter, revenue from operations rose 9.00% YoY to ₹228.74 crore, though EBITDA declined 8.72% YoY to ₹15.64 crore, with the EBITDA margin contracting 133 basis points to 6.84%, reflecting temporary pressure from elevated freight, energy, and input costs.

Consolidated Financial Highlights

Standalone Financial Highlights

On a standalone basis, the company reported a net profit of ₹4,097.15 lacs for the full year, compared to ₹1,564.33 lacs in the previous year. For the quarter, standalone net profit stood at ₹543.59 lacs. Basic EPS for the year was ₹4.18 on a standalone basis and ₹4.41 on a consolidated basis.

Balance Sheet Strength & Key Ratios

MCMIL significantly strengthened its balance sheet during the year, achieving its targeted Net Debt to EBITDA ratio of close to 1x, reflecting strong cash flows and continued deleveraging. The debt-equity ratio improved to 1.13x from 1.81x in the previous year, and the interest coverage ratio rose to 2.85x from 1.63x.

Operational Highlights

FY26 was marked by strong operational momentum across MCMIL's business segments. Production of Galvanized / Alu-Zinc Steel reached 1,03,036 MT for FY26, a growth of +2.21% YoY, while Pre-Painted Steel production grew +12.78% YoY to 83,594 MT. The value-added product mix — Pre-Painted Steel as a share of total sales — rose to 80% in FY26 from 74% in FY25, reflecting the company's deliberate premiumisation strategy. On the exports front, export tonnage touched an all-time high of 66,172 MT in FY26, up 110% YoY from 31,453 MT in FY25. The share of exports as a percentage of total revenue expanded to 68.21% from 39.20% in FY25, a growth of 97% YoY.

Status of Key Strategic Projects

MCMIL continued to make progress on its expansion and sustainability initiatives during the year. The Alu-Zinc Coating Upgrade was commissioned in December 2025, increasing capacity from 1,32,000 TPA to 1,80,000 TPA, a 36% increase. The second colour coating line and a 7 MWp captive solar power plant at the Kutch facility are both targeted for commissioning in Q2 FY27. The captive solar plant is expected to reduce effective power costs by up to 40%, translating into annual savings of up to Rs. 7 Cr. against a capex of Rs. 30 Cr. Looking further ahead, a new Alu-Zinc Coating Line 2 (Phase 2) with an estimated capex of Rs. 150 Cr. and a Cold Rolling Mill (CRM) Complex with an estimated capex of Rs. 200 Cr. are both targeted for FY28. The CRM complex will enable the company to shift from Cold Rolled Coils (CRC) to Hot Rolled Coils (HRC) as the primary raw material, supporting backward integration and improved procurement flexibility.

FY29 Vision

MCMIL has outlined an ambitious FY29 vision targeting a 3x increase in total output, revenue, and profitability from FY26 levels, underpinned by continued investments in capacity expansion, backward integration, and operational efficiency improvements.

Dividend Recommendation & Board Approvals

The Board of Directors recommended a final dividend of Re. 0.05 (5%) per equity share for the financial year ended March 31, 2026, against a face value of Re. 1/- per share, subject to shareholder approval at the ensuing Annual General Meeting. If approved, the dividend will be paid within 30 days from the date of declaration. In addition, the Board approved the appointment of M/s Audittech 360 Financial Services Private Limited as Internal Auditor and M/s. S. Chhaparia & Associates as Cost Auditor for FY 2026-27. The Board also approved the re-appointment of Mr. Addanki Venkata Srinarayana as Wholetime Director for three years effective May 30, 2026, and increases in remuneration for Mr. Sushil Kumar Agrawal (Managing Director), Mr. Karan Agrawal (Wholetime Director), and Mr. Tushar Agrawal (Senior Vice-President), all subject to shareholder approval.

Management Commentary

Commenting on the results, Karan Agrawal, Whole Time Director, stated: "FY26 has been a landmark year for Manaksia Coated Metals & Industries Limited, marked by record revenue and strong growth in EBITDA and profitability, driven by higher exports, improved realizations, and an increasing share of value-added products. During the year, the company successfully commercialized its Aluminium-Zinc coating technology, strengthening its position in the premium coated steel segment. Despite temporary margin pressure in Q4 FY26 arising from elevated freight, energy, and input costs amid geopolitical disruptions, demand remained healthy and profitability continued to remain resilient. The company also made significant progress on its expansion and sustainability initiatives. From a balance sheet perspective, the company achieved its targeted Net Debt to EBITDA ratio of close to 1x, reflecting strong cash flows, disciplined capital allocation, and continued deleveraging. MCMIL remains focused on its strategic pillars of premiumisation, export growth, operational efficiency, and balance sheet deleveraging."