Manaksia Coated Metals & Industries Limited has informed the Exchange about Amalgamation/Merger
MANAKCOAT · price
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Awaiting price reaction for this filing.
The board of Manaksia Coated Metals & Industries Limited (MCMIL) met on 22nd July 2025 and approved the draft Scheme of Amalgamation of its wholly owned subsidiary JPA Snacks Private Limited (JSPL) into itself, under Sections 230-232 of the Companies Act, 2013. JSPL, which is in the snacks business, has no active operations (nil revenue and negative net assets of Rs. 257.70 lakhs as of March 2025), so the merger is aimed at simplifying the group structure. No new shares will be issued and the shareholding pattern of MCMIL will remain unchanged. The board also approved strong Q1 FY26 results with standalone revenue rising to Rs. 249.78 crore (from Rs. 193.78 crore in Q1 FY25) and net profit jumping to Rs. 14.10 crore (from Rs. 3.04 crore), along with the 15th AGM scheduled for 16th September 2025.
The merger of an inactive wholly owned subsidiary has no material impact on shareholders' value or shareholding, but the sharp jump in Q1 profits and revenue could lift short-term sentiment. The scheme still requires NCLT and other regulatory approvals before becoming effective.