Synopsis:
Manaksia Coated Metals and Industries Limited reports 29% YoY revenue growth and a 370% YOY net profit surge in Q1 FY26 results
This small-cap steel stock, engaged in manufacturing and marketing coated steel products, including pre-painted, galvanised, and cold-rolled steel, for diverse industrial applications, hit a 10 percent upper circuit after the company reported strong June quarterly results with a 370 percent YoY increase in net profit.
With a market capitalization of Rs. 1,557.22 crores, the shares of Manaksia Coated Metals and Industries Limited hit a 10 percent upper circuit of Rs. 156.25 per share on Wednesday, up from its previous closing price of Rs. 142.05 per share.
Q1 FY26 Result Walkthrough
Coming into the quarterly results of Manaksia Coated Metals and Industries Limited, the company’s consolidated revenue from operations increased by 28.91 percent YOY, from Rs. 193.78 crore in Q1 FY25 to Rs. 249.80 crore in Q1 FY26, and grew by 20.16 percent QoQ from Rs. 207.89 crore in Q4 FY25.
In Q1 FY26, Manaksia Coated Metals and Industries Limited’s consolidated net profit increased by 370.13 percent YOY, reaching Rs. 14.01 crore compared to Rs. 2.98 crore during the same period last year. As compared to Q4 FY25, the net profit has increased by 178.53 percent, from Rs. 5.03 crore.
The basic earnings per share increased by 267.50 percent and stood at Rs. 1.47 as against Rs. 0.40 recorded in the same quarter in the previous year 2025.
Financial Highlights: Manaksia Coated Metals and Industries Limited’s revenue has increased from Rs. 740 crore in FY24 to Rs. 782 crore in FY25, which is a growth of 5.68 percent. The net profit has also grown by 36.36 percent, from Rs. 11 crore in FY24 to Rs. 15 crore in FY25.
Manaksia Coated Metals and Industries Limited’s revenue and net profit have grown at a CAGR of 25.92 percent and 37.97 percent, respectively, over the last five years.
In terms of return ratios, the company’s ROCE and ROE stand at 15.1 percent and 7.66 percent, respectively. Manaksia Coated Metals and Industries Limited has an earnings per share (EPS) of Rs. 3.03, and its debt-to-equity ratio is 0.63x.
Capacity Expansion: Manaksia Coated Metals and Industries Limited is expanding its production capacity across three steel product categories such as Pre-Painted Steel, Galvanised Steel, and Cold Rolled Steel. By FY26, the company plans to increase its Pre-Painted Steel capacity by 170 percent to 2,36,000 MTPA with a new Continuous Coating Line of 1,50,000 MTPA under Phase 2.
For Galvanised Steel, Phase 1 will boost capacity to 180,000 MTPA by converting to Alu-Zinc and increasing line speed to 25 MT/hour, a 36 percent rise. Further expansion will happen in FY27 and FY28 under Phase 3. Galvanised Steel capacity will double to 360,000 MTPA with the addition of a second Alu-Zinc coating line.
Cold Rolled Steel production will also grow significantly, with a new CRM Complex (CRM Hitachi) adding 300,000 MTPA capacity. These developments reflect MCMIL’s strong growth plans and commitment to meeting the rising demand for high-quality steel products in both domestic and international markets.
Overview: Manaksia Coated Metals and Industries Limited (MCMIL) is a prominent Indian manufacturer and exporter specializing in coated metal products, including pre-painted steel and aluminum sheets and coils, galvanized steel sheets, and value-added secondary metal products.
The company was established in 2010 and also produces fast-moving consumer goods (FMCG) such as Ultramarine Blue Powder and mosquito repellent coils under contract for Reckitt Benckiser India
Manaksia Coated Metals and Industries operates with two manufacturing plants that have an annual production capacity of 1,32,000 metric tons for galvanised products and 86,000 metric tons for pre-painted products. The company also has a strong domestic network with four branch offices and five stock yards & service centres.
In addition to its presence in India, the company has expanded its reach to 22 countries across four continents, showcasing its growing global footprint and commitment to serving international markets.
Written By – Nikhil Naik
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