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MANAKCOAT · price
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Manaksia Coated Metals reported record FY26 performance with total income of Rs. 896.27 Cr (up 14% YoY), EBITDA of Rs. 92.21 Cr (up 49% YoY), and PAT of Rs. 40.69 Cr (up 164% YoY). However, Q4FY26 showed margin pressure with EBITDA margin dropping to 6.84% from 8.16% in Q4FY25, and PAT margin at 2.35% vs 2.40% YoY, due to elevated freight, energy, and input costs. The company has a robust order book of Rs. 375 Cr with 80% from exports. Strategic expansion includes doubling Alu-Zinc capacity to 360,000 MTPA by FY28, increasing Pre-Painted Steel capacity 2.7x to 236,000 MTPA by Q2FY27, setting up a 360,000 MTPA Cold Rolling Mill complex in FY28, and a 7 MW captive solar plant by Q2FY27 expected to reduce power costs by 40%.
While FY26 was a landmark year with strong profitability growth, Q4 margin compression signals near-term cost pressures. However, the company's aggressive capacity expansion, backward integration plans, and Vision FY29 target of 3x growth provide a positive long-term outlook for shareholders.