Manaksia Steels Limited plans to invest ₹40 crore to double its color coating line capacity at Haldia unit, adding 90,000 MT per annum. The new line is expected to be operational by Q4 FY2025-26. The company reported impressive Q1 results with a 30.19% increase in total income, 91.95% growth in EBITDA, and 297.99% surge in PAT year-on-year. Sales volume increased by 32%, with galvanised and pre-painted production up by 25% and 81% respectively. The Nigerian subsidiary showed 85% sales growth. Management remains optimistic about future growth prospects.
Manaksia Steels Limited reported a 172.90% year-over-year increase in Q1 consolidated net profit, reaching Rs 634.71 lacs. The company approved a capacity expansion plan, adding a second Colour Coating Line at its Haldia facility, increasing capacity from 48,000 MT to 138,000 MT annually. The Rs 40 crore project will be funded through internal accruals. Key corporate decisions include scheduling the 24th AGM, re-appointing Mrs. Nidhi Baheti as an Independent Director, appointing new Secretarial Auditors, and adopting a new company logo. Manaksia also commissioned a new Aluzinc Coated Steel Line on June 10, 2025.