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Manaksia Coated Metals Q3 Net Profit Surges 47% YoY; Capacity to Expand 174% by FY27
Manaksia Coated Metals reported a resilient Q3 FY26 with net profit growing 47% YoY to ₹7 crores, despite a 9% dip in revenue caused by a 35-day planned plant shutdown for technology upgrades. For the 9-month period, the company showed explosive growth with net profit rising 241% YoY to ₹35 crores and EBITDA margins expanding by 356 bps to 11%. The company successfully commissioned its Alu-Zinc technology upgrade, increasing capacity to 1,80,000 TPA, and is on track for a massive 174% capacity expansion in early FY27. With a robust export order book of ₹350 crores and a shift toward high-margin value-added products, the growth outlook remains strong.
Key Highlights
9M FY26 Net Profit surged 241% YoY to ₹35 crores with EPS rising 151% to ₹3.49
Commissioned Alu-Zinc technology upgrade, increasing capacity by 36% to 1,80,000 TPA
Upcoming second color coating line in early FY27 to boost capacity by 174% to 2,36,000 TPA
Strong export momentum with a current order book of ₹350 crores and 67% revenue from exports in 9M FY26
7-MW solar plant expected in Q1 FY27 to offset 50-55% of grid power consumption
💼 Action for Investors
Investors should monitor the timely commissioning of the second color coating line in FY27, which is a major growth catalyst. The company's ability to maintain high margins through value-added exports despite rising raw material costs makes it a strong candidate for long-term observation.
Manaksia Coated Metals Q3 Net Profit Jumps 47% YoY; 9M Profit Surges 241%
Manaksia Coated Metals reported a strong 9M FY26 performance with net profit surging 241% YoY to ₹35.32 Cr, despite a slight dip in Q3 revenue to ₹189.91 Cr due to a planned plant shutdown. The company successfully commissioned its Alu-Zinc line, increasing capacity to 1,80,000 MTPA, which is expected to drive high-margin growth. Operational efficiency is set to improve with a 7 MW solar plant reducing power costs by up to 35%. With a ₹350 Cr export order book and a second colour-coating line coming in Q4 FY26, the outlook for volume and margin expansion remains robust.
Key Highlights
9M FY26 Net Profit grew by 241% YoY to ₹35.32 Cr, with EBITDA margins expanding to 11.47% from 7.91%.
Credit rating upgraded to 'A' (Long Term) and 'A1' (Short Term) by Acuité, reflecting improved financial strength.
Commissioned Alu-Zinc line with 1,80,000 MTPA capacity; second colour-coating line expected in Q4 FY26.
Targeting Net Debt to EBITDA ratio of under 1x by FY26-end, a significant reduction from 1.93x in FY25.
Strong export order book of ₹350 Cr and 7 MW captive solar plant provide high visibility for future earnings.
💼 Action for Investors
Investors should focus on the company's transition to high-margin Alu-Zinc products and significant debt reduction. The upcoming commissioning of the second colour-coating line in Q4 makes it a strong candidate for growth-oriented portfolios.
Manaksia Coated Metals 9M FY26 Net Profit Surges 241% to ₹35 Cr; EBITDA Margins Expand
Manaksia Coated Metals reported a massive 241% YoY growth in net profit for 9M FY26, reaching ₹35.32 crore, driven by improved margins and a shift toward value-added products. While Q3 revenue saw a slight dip of 8.6% due to a planned plant shutdown for technology upgrades, EBITDA margins expanded significantly by 356 bps for the nine-month period. The company successfully commissioned its upgraded Alu-Zinc line and expects a 174% increase in color coating capacity by Q1 FY27. Additionally, the company is on track to reduce its Net Debt to EBITDA ratio to under 1x by the end of FY26.
Key Highlights
9M FY26 Net Profit jumped 241.25% YoY to ₹35.32 Cr, while EBITDA rose 66.90% to ₹76.57 Cr.
EBITDA margins for 9M FY26 improved by 356 bps to 11.47% due to a better product mix.
Phase II expansion will increase color coating capacity by 174% to 2,36,000 MTPA by Q1 FY27.
Export order book remains healthy at approximately ₹350 Cr, with exports contributing 66.69% of sales.
Net Debt to EBITDA is projected to fall below 1x by FY26-end, down from 1.93x in FY25.
💼 Action for Investors
Investors should view the temporary Q3 revenue dip as a transition phase for higher-margin Alu-Zinc production. The significant capacity expansion and debt reduction targets make this a strong growth story to watch in the specialty steel sector.
Manaksia Coated Metals Q3 Revenue Dips to ₹186.9 Cr; 9M Income Up 15% YoY
Manaksia Coated Metals reported a consolidated total income of ₹189.91 crore for the quarter ended December 31, 2025, a decline from ₹223.68 crore in the previous quarter. Despite the quarterly dip, the nine-month performance remains strong with total income reaching ₹667.52 crore, up from ₹579.81 crore in the corresponding period last year. The company's subsidiaries, JPA Snacks and Manaksia International FZE, contributed a marginal net loss of ₹22.05 lakhs for the nine-month period. Standalone revenue from operations for Q3 stood at ₹186.90 crore, showing a year-on-year decrease from ₹205.05 crore.
Key Highlights
Consolidated Total Income for 9M FY26 rose 15.1% YoY to ₹667.52 crore
Quarterly Consolidated Total Income fell 15.1% QoQ to ₹189.91 crore
Standalone Revenue from Operations for Q3 FY26 was ₹186.90 crore, down 8.9% YoY
Subsidiaries JPA Snacks and Manaksia International FZE reported a combined 9M net loss of ₹22.05 lakhs
Standalone cost of materials consumed for the quarter stood at ₹165.99 crore
💼 Action for Investors
Investors should monitor the sequential decline in revenue and margin pressure evident in the Q3 results despite the year-to-date growth. The performance of the subsidiaries is currently immaterial but should be watched for any widening losses.
Manaksia Coated Metals Q3 Consolidated Net Profit Falls 13.3% YoY to ₹5.97 Crore
Manaksia Coated Metals & Industries reported a consolidated net profit of ₹5.97 crore for the quarter ended December 31, 2025, marking a 13.3% decline from ₹6.88 crore in the same period last year. Revenue from operations for the quarter also decreased by 8.8% YoY to ₹186.90 crore. Despite the quarterly dip, the company's nine-month performance remains positive, with total income rising 15.1% to ₹667.52 crore and net profit increasing 14.7% to ₹21.08 crore compared to the previous year's nine-month period. The quarterly results reflect a contraction in both top-line and bottom-line growth on a year-on-year basis.
Key Highlights
Consolidated Q3 Revenue from Operations fell 8.8% YoY to ₹186.90 crore from ₹205.05 crore.
Consolidated Q3 Net Profit declined 13.3% YoY to ₹5.97 crore from ₹6.88 crore.
Nine-month (9M FY26) Consolidated Net Profit grew 14.7% YoY to ₹21.08 crore.
Standalone Profit Before Tax (PBT) for Q3 stood at ₹8.15 crore compared to ₹9.27 crore YoY.
Total expenses for the quarter decreased to ₹181.73 crore from ₹198.53 crore in the previous year's quarter.
💼 Action for Investors
Investors should be cautious as the quarterly performance shows a year-on-year decline in both revenue and profitability, suggesting margin pressure. While the nine-month cumulative growth is healthy, the recent quarterly slowdown warrants a closer look at demand trends in the coated metals segment.
Manaksia Coated Metals Expands Capacity to 180,000 MTPA with Alu-Zinc Upgrade
Manaksia Coated Metals has successfully commissioned its upgraded Continuous Galvanising Line, transitioning from conventional galvanised steel to premium Alu-Zinc technology. This strategic move has increased the facility's installed capacity by approximately 36%, moving from 132,000 MTPA to 180,000 MTPA. The upgrade is designed to improve operational efficiency through higher line speeds and lower energy consumption, targeting higher-margin domestic and export markets. With H1 FY26 EBITDA already at ₹58.07 Cr, this expansion is expected to further bolster profitability and EBITDA performance in the medium term.
Key Highlights
Successfully upgraded Continuous Galvanising Line to advanced Alu-Zinc coating technology
Increased total installed capacity from 132,000 MTPA to 180,000 MTPA
Shift towards higher-value products expected to improve EBITDA margins and operational efficiency
Strategic proximity to Kandla and Mundra ports supports export scalability for the new product mix
Reported H1 FY26 Net Profit of ₹27.97 Cr on a Total Income of ₹477.62 Cr
💼 Action for Investors
Investors should monitor the capacity utilization and margin expansion in the upcoming quarters as the company transitions to higher-value Alu-Zinc products. The 36% capacity increase provides a clear runway for volume growth in FY27.
Manaksia Coated Expands CGL Capacity by 36% to 180,000 MT with Alu-Zinc Tech Upgrade
Manaksia Coated Metals & Industries is upgrading its Continuous Galvanizing Line to Aluminium-Zinc coating technology, which commands premium pricing compared to traditional galvanizing. The project includes a significant 36% capacity expansion, increasing from 132,000 MT to 180,000 MT per annum. A planned shutdown is currently underway in December 2025, with production expected to stabilize by January 2026. This strategic move is designed to improve EBITDA margins through a higher-value product mix and enhanced operating efficiency.
Key Highlights
Capacity expansion of 36%, increasing total installed capacity from 132,000 MT to 180,000 MT per annum
Technology upgrade to Aluminium-Zinc coating for superior corrosion performance and premium market pricing
Production of the upgraded Alu-Zinc coated steel is expected to stabilize starting January 2026
The upgrade aims to reduce coating costs per metric tonne and improve overall energy efficiency
Company reported H1 FY26 Total Income of ₹477.62 Cr and Net Profit of ₹27.97 Cr
💼 Action for Investors
Investors should monitor the production ramp-up in Q4 FY26 to ensure the transition to Alu-Zinc products translates into the expected margin expansion. The 36% capacity boost provides a clear runway for volume-led growth in the upcoming fiscal year.
MANAKCOAT Board approves fund raising up to ₹350 Cr, increases authorized capital
Manaksia Coated Metals & Industries Limited's board approved raising funds up to ₹350 Crores through issuance of securities. The company also approved increasing the authorized share capital from ₹12.50 Crores to ₹16.00 Crores. Unaudited financial results for the quarter ended September 30, 2025, show a standalone net profit of ₹1,402.38 Lacs compared to ₹242.68 Lacs in the same quarter last year. The board has proposed resolutions via postal ballot and appointed M/s. S.S. Reddy & Associates as scrutinizers.
Key Highlights
Approved raising funds up to ₹350 Crores.
Increased authorized share capital to ₹16.00 Crores from ₹12.50 Crores.
Standalone net profit for the quarter ended September 30, 2025, is ₹1,402.38 Lacs.
Proposed resolutions via postal ballot.
Appointed M/s. S.S. Reddy & Associates as Scrutinisers to the Postal Ballot.
💼 Action for Investors
Investors should review the details of the fund raising and postal ballot resolutions as they become available. Monitor the company's progress on increasing authorized capital and its impact on shareholder value.