Manaksia Coated Metals & Industries Ltd Q1 FY26 Earnings Analysis
Published 7 Jul 2026 | Industrial Products | Market Cap: ₹1.3K Cr
Price
₹118
Market Cap
₹1.3K Cr
P/E Ratio
30.8
How does Manaksia Coated Metals & Industries Ltd rank in Industrial Products?
Compare Manaksia Coated Metals & Industries Ltd against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
Manaksia Coated Metals & Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹227 Cr, net profit ₹5 Cr.
Full financials →Earnings Summary
Peak revenue expected to touch close to INR1,600 crores by FY27 with capacity expansions (Pre-painted steel and Alu-Zinc technology upgrade). Q1 FY26 EBITDA margin stood at 11.27%, with a 94% YoY increase; EBITDA per ton around INR9,786.
📊 Revenue & Sales Performance
- →Peak revenue expected to touch close to INR1,600 crores by FY27 with capacity expansions (Pre-painted steel and Alu-Zinc technology upgrade).
- →Revenue in FY26 expected to maintain momentum achieved in Q1 and further growth anticipated from Q4 onwards due to new projects coming online.
- →Sales volumes grew 18.69% YoY in Q1 FY26; utilization at 85% for galvanizing line, 100% for color coating line.
- →Export revenue hit a record 57% of total revenue in Q1 FY26 and expected to sustain above 50%.
- →Alu-Zinc line (180,000 tons capacity) anticipated to stabilize and contribute significantly to revenue by end Q3 or early Q4 FY26.
- →Second color coating line (total capacity 2,36,000 tons) to come online by end of Q4 FY26; full ramp-up expected in FY27.
- →The export market potential remains large and largely untapped, supporting future volume growth.
- →The company anticipates high margin, scalable revenue growth with expanded capacity and enhanced product mix.
📈 Profitability & Margins
- →Q1 FY26 EBITDA margin stood at 11.27%, with a 94% YoY increase; EBITDA per ton around INR9,786.
- →Expansion projects (Alu-Zinc upgrade and second color coating line) expected to drive EBITDA margin to 12%-13% sustainable at good capacity utilization by FY27.
- →Revenue expected to peak around INR1,600 crores in FY27 with full capacity utilization of expanded facilities.
- →EPS showed strong growth, reaching INR1.42 per share in Q1 FY26, up 254% YoY.
- →FY26 EBITDA margin expected to maintain around 11% for first three quarters; margin expansion likely in Q4 FY26 and FY27 due to new capacities.
- →Phase 3 expansion (planned mid-FY27) estimated at INR220-250 crores capex, aiming for further growth; funding expected mostly via internal accruals, minimizing debt.
- →Export revenue, a high-margin contributor, poised to sustain above 50%, supporting profit growth.
🏗️ Capital Expenditure Plans
- →**Phase 1 & 2 Capex (FY26):** Total capex of ~INR150 crores covering Alu-Zinc technology upgrade, solar captive power plant, and second color coating line. Approximately INR50 crores already spent; remaining to be spent over next three quarters.
- →**Third Phase Capex (FY27):** Planned capex of INR220-250 crores for cold rolling backward integration and further capacity expansion. Funding strategy (debt vs equity) will be finalized later; focus on funding mostly through internal accruals and minimal debt.
- →**Capacity Expansion:**
- → - Galvanized steel capacity upgrading to Alu-Zinc tech at 180,000 tons.
- → - Pre-painted steel capacity increased to 236,000 tons with new line coming by end Q4 FY26.
- →**Funding:** Raised about INR175 crores equity via preferential warrants; approx. 70% of capex financing expected through debt, balancing equity.
💰 Fundraising & Capital Structure
- →For the third phase of capex planned for FY27 (~INR220-250 crores), the funding strategy is yet to be finalized.
- →The company intends to fund as much of this capex as possible through internal accruals generated in FY26 and partially in FY27.
- →The goal is to minimize debt usage for the third phase, aiming for a low-debt funding approach.
- →For the current and previous capex phases, the company has raised approximately INR175 crores through equity via preferential warrants.
- →The existing capex funding mix has been roughly 70% debt and 30% equity.
- →Approximately INR13 crores is still pending from warrant conversions, expected to be received within three quarters.
- →Clear funding details for the third phase will be provided later in the year based on performance and project stabilization.
📋 Order Book & Pipeline
- →The company has a strong and high-margin export order book that has been prioritized for execution over upgrade projects.
- →Export revenue surged by 182.28% year-on-year in Q1 FY26, contributing 57% to total revenue, indicating a robust order pipeline.
- →The growth in exports is supported by longstanding relationships with quality-conscious OEM customers in Europe and the Middle East developed over 5 to 7 years.
- →Ramp-up of new capacities (Alu-Zinc upgrade and second color coating line) will cater to increasing demand and contribute further to the order book from Q4 FY26 and FY27.
- →The company aims to maintain balanced domestic and export sales to mitigate market risks.
- →No specific numeric value of current pending or orderbook was disclosed, but demand visibility is described as strong with increasing double-digit growth potential due to infrastructure investments and export opportunities.
Key Metrics
Frequently Asked Questions
What were Manaksia Coated Metals & Industries Ltd Q1 FY26 results?
Peak revenue expected to touch close to INR1,600 crores by FY27 with capacity expansions (Pre-painted steel and Alu-Zinc technology upgrade). Q1 FY26 EBITDA margin stood at 11.27%, with a 94% YoY increase; EBITDA per ton around INR9,786.
What is Manaksia Coated Metals & Industries Ltd share price analysis?
Manaksia Coated Metals & Industries Ltd currently shows a neutral. The stock trades at a P/E of 30.8 with a market cap of ₹1,257 Cr. Investors should review the full earnings analysis for detailed insights.
Is Manaksia Coated Metals & Industries Ltd planning capital expenditure?
Phase 1 & 2 Capex (FY26):** Total capex of ~INR150 crores covering Alu-Zinc technology upgrade, solar captive power plant, and second color coating line.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.