Manaksia Limited successfully conducted its equity shareholders meeting on January 10, 2026, through video conferencing to deliberate on a crucial Scheme of Arrangement. The meeting was held pursuant to directions from the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, issued on November 17, 2025.

Meeting Structure and Participation

The virtual meeting commenced at 11:00 A.M. (IST) and was chaired by Mr. Kuldeep Mullick, Advocate, as directed by the NCLT. Company Secretary Mr. Debdip Chowdhury welcomed shareholders and introduced the directors and dignitaries present at the meeting.

Scheme of Arrangement Details

The primary agenda focused on approving the Scheme of Arrangement between Manaksia Limited and Manaksia Ferro Industries Limited, along with their respective shareholders and creditors. This resolution required a special majority as prescribed under Section 230(6) of the Companies Act, 2013.

Shareholders received comprehensive documentation including the Notice of Meeting, Explanatory Statement, and Scheme of Arrangement documents. The meeting included a detailed briefing on the salient features of the proposed scheme, with Managing Director Mr. Suresh Kumar Agrawal addressing shareholder queries and providing necessary clarifications.

Voting Process and Timeline

The company implemented a comprehensive voting mechanism to ensure maximum shareholder participation:

Shareholders who had not participated in remote e-voting were provided the opportunity to vote during the meeting under the supervision of the appointed Scrutinizer. The voting process was conducted in accordance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Disclosure

The meeting was conducted in full compliance with regulatory requirements under the Companies Act, 2013, and SEBI regulations. The company has committed to submitting voting results and the Scrutinizer's report to stock exchanges within the prescribed timeframe.

Results will be made available on multiple platforms including the company's website ( www.manaksa.com ), NSDL's e-voting portal ( www.evoting.nsdl.com ), and the company's registered office notice board. The voting results will be disclosed separately once the Scrutinizer's report is received, ensuring transparency in the decision-making process.

The meeting concluded successfully at 11:36 A.M. (IST) with a vote of thanks to the chair, marking an important step in the proposed corporate restructuring initiative between Manaksia Limited and Manaksia Ferro Industries Limited.

Manaksia Coated Metals & Industries Limited has successfully completed its strategic aluminium-zinc technology upgrade and capacity expansion project. The company announced the commissioning of its enhanced Continuous Galvanising Line through an official press release filed under SEBI LODR Regulations 2015.

Technology Upgrade Completion

The company has successfully transitioned from conventional galvanised steel production to advanced Alu-Zinc coating technology. This strategic transformation enables the company to manufacture higher-value products with superior corrosion resistance standards. The upgrade was executed through a planned shutdown of the Continuous Galvanising Line to implement the comprehensive technology enhancement.

Operational Benefits and Efficiency Gains

The upgraded facility delivers multiple operational improvements including higher line speeds, improved energy efficiency, and optimized coating costs per metric tonne. The enhanced capabilities are expected to support better productivity while maintaining superior quality standards. The company anticipates that these operational efficiencies will contribute to improved EBITDA performance over the medium term.

Management Commentary

Commenting on the successful completion, Mr. Karan Agrawal, Whole Time Director, stated: "The successful Alu-Zinc technology upgrade of our Continuous Galvanising Line marks an important step in strengthening our value-added product portfolio. The capacity expansion to 180,000 MTPA enhances our ability to address growing demand for premium Alu-Zinc coated steel. Improved operating efficiencies, higher line speeds, and optimized coating costs are expected to support margins over the medium term."

Strategic Market Positioning

The upgrade positions the company to capitalize on the premium Alu-Zinc coated steel segment, which offers higher-margin opportunities and strong market acceptance. The enhanced scalability strengthens the company's ability to meet rising demand across both domestic and export markets. This achievement reinforces the company's focus on operational excellence and long-term value creation through advanced manufacturing capabilities.