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.

Manaksia Coated Metals & Ind , a leading player in the value-added coated steel segment, has reported robust financial results for the second quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

The company's performance for Q2 FY26 showcases substantial year-on-year improvements:

For the first half of FY26, the company reported:

Operational Performance

Manaksia Coated Metals has shown impressive operational metrics:

• Galvanized steel production increased by 8% YoY to 26,572 metric tons
• Pre-painted steel output rose by 18% to 21,653 metric tons
• Value-added products (pre-painted steel) contributed 92% of total sales
• Exports accounted for 85% of total sales, with export revenue up by 151% YoY

Balance Sheet Strengthening

The company's financial position has improved significantly:

• Debt-equity ratio improved to 1.19 from 1.81 at the end of FY25
• Total debt declined by 27% to Rs. 103.22 crores
• Interest coverage ratio improved to 3.62 from 1.89

Strategic Initiatives and Future Outlook

Manaksia Coated Metals is progressing on several strategic fronts:

1. Capacity Expansion: The company is converting its aluminum-zinc coating line, which is expected to enhance capacity by 36% to 180,000 tons per annum by the end of FY26.

2. New Color Coating Line: A second color coating line is planned for early FY27, which aims to expand coating capacity by 174% to 236,000 tons per annum.

3. Sustainable Energy: A 7-megawatt peak captive solar power plant is targeted for early FY27, aiming to offset 50-55% of grid power dependency.

4. Digital Transformation: Implementation of MES and CRM systems is underway to drive operational efficiency and customer engagement.

Market Position and Export Focus

The company has strengthened its position in the export market:

• Active presence in over 40 countries
• Strong focus on OEM customers in Europe, Latin America, and the Middle East
• Diversified customer base with no single customer accounting for more than 10% of export sales

Management Commentary

Karan Agrawal, Whole-Time Director, commented on the results: "The first half of FY26 has been an encouraging phase for us at Manaksia Coated Metals & Industries as we continue to strengthen our presence in the value-added coated steel segment with consistent performance and expanding capabilities."

He further added, "Our advanced manufacturing facility in Kutch, Gujarat, serves as a strategic hub connecting us seamlessly to both domestic and international markets."

Manaksia Coated Metals & Industries Limited's strong performance in Q2 FY26 reflects its strategic focus on value-added products and export markets. With ongoing capacity expansions and a robust order book of approximately Rs. 600.00 crores, the company appears well-positioned for continued growth in the coming quarters.