Manaksia Coated Metals & Industries Ltd Share Price – NSE /  BSE

Steel, Small Cap

Manaksia Coated Metals & Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 26 December 2024 .

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Manaksia Coated Metals & Industries has announced the approval of a preferential warrant issue to raise Rs 134.55 crore. The board of directors approved the issuance of 207,000 warrants at Rs 65 per warrant during its meeting on 02 December 2024. This move will support the company's ambitious plans for capacity expansion and a major technology upgrade.

The funds raised will be utilized to undertake a technology upgrade project whereby the company will be transitioning to production capability of making Alu-Zinc Costed Steel products. Th production capacity will be enhanced from 132,000 MTPA to 180,000MTPA enabling a 36% increase in output and corresponding revenue. The CAPEX being planned by the company also includes a forward integration project whereby the company would be investing in a new and state of the art steel coil coating line which would catapult the capacity of Pre-painted Steel from 86,000MTPA to 236,000MTPA. Additionally, a portion will be allocated to optimize the working capital cycle and establish a captive solar power plant in a phased manner, reflecting the company's commitment to sustainable and energy-efficient practices.

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Manaksia Coated Metals & Industries will hold a meeting of the Board of Directors of the Company on 2 December 2024

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Net profit of Manaksia Coated Metals & Industries rose 17.41% to Rs 2.36 crore in the quarter ended September 2024 as against Rs 2.01 crore during the previous quarter ended September 2023. Sales declined 10.09% to Rs 174.91 crore in the quarter ended September 2024 as against Rs 194.53 crore during the previous quarter ended September 2023.

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