Manaksia Coated Metals & Ind , a key player in the metal coating industry, has received overwhelming shareholder approval for two significant special resolutions through a postal ballot voting process. These resolutions are set to impact the company's capital structure and future fundraising capabilities, potentially paving the way for business expansion.

Key Resolutions Approved

1. Increase in Authorized Share Capital: Shareholders have approved an increase in the company's authorized share capital, along with a consequent alteration in the Memorandum of Association.

2. Capital Raising Approval: The company has received the green light to raise capital through the issuance of equity shares and/or equity-linked securities. This can be done via private offerings, qualified institutional placements, or other permitted methods.

Both resolutions passed with an impressive 99.997% of votes in favor, demonstrating strong shareholder confidence in the company's strategic decisions.

Financial Context

To provide context for these decisions, let's examine some key financial metrics from Manaksia Coated Metals & Ind's recent balance sheet:

The company has shown significant growth in total assets and shareholders' capital over the past five years, which may have influenced the decision to increase the authorized share capital and seek additional fundraising options.

Potential Implications

1. Enhanced Fundraising Capacity: The increase in authorized share capital provides Manaksia Coated Metals & Ind with greater flexibility to issue new shares, potentially facilitating easier access to equity financing.

2. Business Expansion Opportunities: With the approval to raise capital through various means, the company is well-positioned to fund potential expansion projects, acquisitions, or other strategic initiatives.

3. Improved Financial Position: The ability to raise additional capital could help strengthen the company's balance sheet, potentially leading to better financial ratios and increased investor confidence.

4. Market Perception: The strong shareholder support for these resolutions may be viewed positively by the market, potentially impacting the company's stock performance.

As Manaksia Coated Metals & Ind moves forward with these approved measures, stakeholders will be keen to observe how the company utilizes its enhanced capital raising capabilities to drive growth and create value for shareholders.

Manaksia Coated Metals & Industries Limited , a leading manufacturer and exporter of coated steel products, has announced plans to construct a 7 MWp solar power plant in Gujarat. This strategic move aims to significantly reduce the company's reliance on grid power and lower its overall power costs.

Project Highlights

Environmental Impact and Sustainability

The solar power project is expected to generate approximately 13.30 million units of renewable electricity annually. This initiative is anticipated to offset around 9,000 tons of CO₂ emissions each year, equivalent to planting more than 400,000 trees. By reducing its carbon footprint, Manaksia Coated Metals & Industries is reinforcing its commitment to environmental stewardship and sustainable growth.

Strategic Benefits

Mr. Karan Agrawal, Whole Time Director of Manaksia Coated Metals & Industries Limited, emphasized the project's importance: "This solar initiative is a testament to our commitment to responsible growth and environmental stewardship. By setting up a 7 MWp captive solar power plant in Gujarat, we are taking a long-term view of our energy needs—focusing on stability, cost efficiency, and environmental responsibility."

The project is expected to enhance the company's operational efficiency and profitability by:

1. Reducing dependency on conventional power sources
2. Cutting carbon emissions
3. Enhancing long-term cost efficiency
4. Providing stable, clean energy to support future expansion

Technological Edge

The company plans to deploy advanced solar technology, including Mono Bifacial N-Type TOPCon modules and a Single Axis Tracker system. This cutting-edge setup is designed to allow for higher output by absorbing sunlight from both sides and perform efficiently even in lower light conditions, aiming to ensure consistent power generation and better reliability.

Industry Collaboration

Manaksia Coated Metals & Industries has partnered with Prozeal Green Energy Limited, a renewable energy EPC & IPP company, for the project's execution. Mr. Manan Thakkar, Co-Founder & Managing Director of Prozeal Green Energy Limited, stated, "We are proud to support Manaksia Coated Metals Industries Limited in their renewable energy transition. This collaboration showcases how industrial consumers can leverage the Open Access model to achieve both sustainability and economic efficiency."

This solar power initiative aligns with Manaksia Coated Metals & Industries' focus on sustainable manufacturing and supports the Government of India's renewable energy vision. As the company aims to integrate cleaner technologies across its operations, it is positioning itself to drive efficiency, innovation, and sustainable growth in the future.