Manaksia Coated Metals Q4 Results: Net profit surges 164% to ₹40.69 crore
Manaksia Coated Metals reported record FY26 results with net profit up 164% to ₹40.69 crore and revenue rising 13.5% to ₹884.48 crore. Export volumes nearly doubled, contributing over two-thirds of revenue. The Board proposed a ₹0.05 dividend and approved director re-appointments at the upcoming AGM.
*this image is generated using AI for illustrative purposes only.
Manaksia Coated Metals & Industries Limited Manaksia Coated Metals & Industries Limited scheduled its 16th Annual General Meeting (AGM) for September 3, 2026, to transact business including the adoption of financial statements for the fiscal year ended March 31, 2026. The meeting will be held through Video Conferencing or Other Audio Visual Means. Shareholders on record as of August 27, 2026, are eligible to vote via remote e-voting between August 31 and September 2, 2026.
The company reported strong financial performance for FY26, driven by higher price realizations and increased export volumes. Total income rose 13.5% to ₹896.27 crore from ₹781.63 crore in the previous year. Profit after tax surged 164% to ₹40.69 crore, up from ₹15.41 crore in FY25. EBITDA grew 49% to ₹92.21 crore, with margins expanding to 10.29% from 7.83%. Revenue from operations stood at ₹884.48 crore.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Total Income: | ₹896.27 crore | ₹781.63 crore | +13.5% |
| Revenue from Ops: | ₹884.48 crore | ₹781.63 crore | +13.2% |
| EBITDA: | ₹92.21 crore | ₹61.89 crore | +49.0% |
| Net Profit: | ₹40.69 crore | ₹15.41 crore | +164.0% |
| EPS: | ₹4.32 | ₹2.07 | +109.0% |
The Board recommended a final dividend of ₹0.05 per equity share (5% on face value of ₹1). Dividend payment will be made subject to tax deduction at source, with beneficial owners as of August 27, 2026, eligible for the payout. The company also highlighted an improved balance sheet, with the debt-equity ratio strengthening to 1.13x from 1.81x and net debt reducing to ₹81 crore.
Operational highlights included a 93% rise in export tonnage to 69,065 metric tonnes, which now constitutes 68.21% of total revenue. Pre-painted steel contributed 80% of sales volume, reflecting a shift toward higher-value products. The company successfully transitioned its galvanising line to Alu-Zinc coating technology, increasing coated capacity by 36% to 1,80,000 MTPA.
What the Numbers Show
The disproportionate growth in net profit relative to revenue indicates significant operating leverage and margin expansion. While revenue grew 13.5%, EBITDA expanded by 49%, and PAT jumped 164%. This divergence suggests that cost absorption improved materially, likely aided by the shift in product mix toward premium Alu-Zinc and pre-painted steel, which command higher realizations. The blended price realization rose to ₹82,193 per tonne from ₹73,622 in FY25, confirming that premiumisation drove profitability more than volume growth alone.
Governance and Capital Allocation
The AGM agenda includes the re-appointment of Mr. Sushil Kumar Agrawal as Managing Director and Mr. Karan Agrawal as Whole-time Director for three-year terms. Their remuneration was revised effective April 1, 2026, to ₹12.50 lakh per month and ₹12 lakh per month, respectively. Mr. Venkata Srinarayana Addanki will also be re-appointed as Whole-time Director.
The company raised ₹161.22 crore through preferential allotments during the year, deploying funds toward the Alu-Zinc upgrade and ongoing projects. Management outlined future investments including a second colour coating line (₹65 crore), a captive solar plant (₹30 crore), and a planned Cold Rolling Mill complex (₹200 crore). These initiatives aim to triple output and revenue by FY29 while maintaining a targeted debt-equity ratio of 1x to 1.5x.
Historical Stock Returns for Manaksia Coated Metals & Ind
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.01% | -1.61% | -6.94% | -3.67% | -20.76% | +887.39% |
How will the planned ₹200 crore Cold Rolling Mill complex impact Manaksia's vertical integration strategy and margin resilience against raw steel price volatility?
Given that exports now constitute 68% of revenue, what specific geopolitical or trade policy risks could threaten this growth trajectory in the coming fiscal years?
Will the aggressive capacity expansion to triple output by FY29 require additional equity dilution, or can it be funded through internal accruals while maintaining the targeted debt-equity ratio of 1x-1.5x?
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