Manaksia Coated Metals & Industries Limited (MCMIL) is a prominent manufacturer and exporter of coated metal products and FMCG products. The company was incorporated in 2010 and is based in Hyderabad, India. MCMIL is a part of the Manaksia Group, a Kolkata-based conglomerate. It is further backed by its sister concern Manaksia Aluminum Co. Ltd, which specialises in aluminum sheet and coil manufacturing located at Haldia, West Bengal.
The company operates through two primary segments: Metal Products and Household Products (FMCG).
MCMIL offers galvanized and pre-painted steel coils/sheets for various applications, such as industrial construction, pre-engineered buildings, cold storage facilities, sandwich panels, and false ceilings. These products are sold under the brand names Colour Strong, Zingalvo, and Singham. The steel plant has a current production capacity of 120,000 tonnes per annum (TPA), comprising a Continuous Galvanizing Line and a Colour Coating Line.
The Company manufactures color-coated galvanized steel and plain galvanized steel, in coil and sheet forms. All value-added steel products are produced at the Company's facility in Kutch, Gujarat. The Company performs color coating on various substrate metals, including Galvanized Steel, Galvalume, and Aluminum.
In the household segment, the company provides mosquito repellent coils, liquid vaporizers, incense, and paper cards. It also manufactures aerosols for mosquitoes and other crawling insects, and ultramarine blue powder used for fabric whitener under the Robin Blue brand name. Additionally, the Company engages in contract manufacturing with Reckitt Benckiser to produce Ultramarine Blue Powder in Bhopal.
Manaksia Coated Metals & Industries operates manufacturing units in Kutch (Gujarat), Hyderabad (Telangana), Guwahati (Assam), and Bhopal (Madhya Pradesh). MCMIL is supported by an impressive network with warehouses across India and easy accessibility to ports on the West Coast. With ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007 certifications, the company aims to make its quality products available at a competitive price across Indian markets, Europe, Russia, Africa, and the Middle East.
The company has demonstrated robust financial performance, with consistent growth and strong operational metrics.
For FY '25, the company reported a consolidated total income of INR 789.66 crores, driven by a 21% increase in galvanized steel production and a strong export order book valued between INR 280 to 300 crores.
- Q4 FY25 Revenue: ₹207.89 Crore (as on March 2025)
- Q4 FY25 Net Profit: ₹5.03 Crore (as on March 2025)
The net profit of Manaksia Coated Metals & Industries declined 0.59% to Rs 5.03 crore in the quarter ended March 2025 as against Rs 5.06 crore during the previous quarter ended March 2024. However, net profit rose 23.70% to Rs 5.01 crore in the quarter ended December 2024 as against Rs 4.05 crore during the previous quarter ended December 2023. Sales rose 7.43% to Rs 205.05 crore in the quarter ended December 2024 as against Rs 190.86 crore during the previous quarter ended December 2023.
- Market Capitalization: ₹1,309 Crore (as of 07-Apr-2025)
- Total Assets: ₹560 Crore (as on 31-Dec-24)
- Profit After Tax (TTM): ₹15 Crore
- P/E Ratio: 44.42 times (as on 07-Apr-2025), a 115% premium to peers' median (20.69 times).
- P/B Ratio: 3.49 times (as on 07-Apr-2025), a 77% premium to peers' median (1.97 times).
- Promoter Holding: 59.0% (no promoter pledging)
Despite challenges from fluctuating global steel prices and geopolitical tensions, operational efficiency remains high, with capacity utilization nearing full levels. The company's strategic investments in Alu-Zinc technology and a solar power plant are expected to significantly enhance EBITDA margins. A strong focus on expanding export markets, particularly in Europe and Latin America, positions the company for sustainable growth.
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, specifically transitioning to the production capability of making Alu-Zinc Coated Steel products.
- Warrant Conversion: On 25 June 2025, the company allotted 49,72,500 equity shares upon conversion of warrants. This increased the paid-up equity share capital to Rs. 10,46,51,550/-, consisting of 10,46,51,550 equity shares of Re. 1/- each. There are 39,82,500 total warrants outstanding for conversion.
- Dividend Recommendation: On 14 May 2025, the Board of Directors recommended a final dividend of Rs 0.05 per equity share (i.e., 5%), subject to shareholder approval.
The company is led by Siddhartha Shankar Roy as Chairman and Sushil Kumar Agrawal as Managing Director. The promoter holding stands at 59.0%, with no promoter pledging reported.
Manaksia Coated Metals & Industries presents several compelling investment highlights:
- The company has successfully reduced its debt.
- It has delivered good profit growth, with a 24.5% CAGR over the last 5 years.
- Manaksia Coated Metals & Industries Ltd has given a return of 45.04% in the last 3 years.
- As per Value Research classification, it is categorized as a Small Cap company.
The company's strategic focus on expanding export markets, technological upgrades, and capacity expansion positions it well for future growth, while maintaining its leadership position in the coated metal products industry. With strong operational efficiency and a robust product portfolio spanning both industrial and consumer segments, Manaksia Coated Metals & Industries continues to deliver value to its stakeholders.
