Any current/future new fundraising through debt or equity?

**Preferential Issue**: 50% of the preferential issue was fully subscribed in the last financial year, with the remaining 50% expected to be completed within H1 of FY25. **Capex Funding**: - The solar power plant project (INR30-35 crores) has its financial tie-up already lined up. - The technology upgrade and capacity enhancement project (INR40 crores) is underway, with the expected commissioning in Q4 FY25. - Future capex plans include a second color-coating line (~INR50 crores) in the second half of FY26 and a cold rolling complex (~INR125 crores) in FY26/FY27; financial tie-ups for t

Any current/future capex/capital investment/strategic investment?

**Technology Upgrade and Capacity Enhancement Project**: INR 40 crores capex, commissioning in Q4 FY25, increasing capacity from 1,32,000 to 1,80,000 tons/year focusing on aluminium zinc alloy (Aluzinc) coated steel. **Second Color-Coating Line**: Planned for FY26 with an estimated capex of INR 50 crores. **Cold Rolling Complex**: Planned for FY26/FY27 with an estimated capex of INR 125 crores targeting 3 lakh tons/year capacity. **Solar Power Plant**: 6 MW capacity with investment around INR 30-35 crores, aiming to reduce electricity costs, commissioned by April next calendar year. **Coil Sli

Future growth expectations in sales/revenue/volumes?

Capacity expansion from 1,32,000 tons to 1,80,000 tons for aluminium zinc-coated steel by FY25 Q3, aiming for 75%-80% utilization. Expected volume growth of 35%-40% in FY26 over FY25 minimum. Volume growth of 17%-20% anticipated in FY25 itself. Transition to aluminium zinc-alloy coated steel (Galvalume) expected to improve price realization and EBIT margins. Plans to enter cold rolling steel market with 3 lakh tons capacity by FY27. Capacity for colour coating line planned at 1,20,000 tons per annum in second phase. Revenue growth projected to be upwards of 50%-60% post capacity full utilizati

Future growth expectations in earnings/operating earnings/profits/EPS?

Technology upgrade project commissioning in Q4 FY25 expected to improve EBITDA margin by 3% (e.g., from 7-8% to 9-11%). Capacity enhancement from 1,32,000 to 1,80,000 metric tons will drive 35-40% volume growth in FY26 over FY25. Export sales expected at ~35% of total revenue for FY25, with tonnage growth. Aluzinc product offers better price realization, boosting revenue by 50-60% and improving margins by 3-5%. Long-term vision targets capacity over 3 lakh tons by FY28/FY29 with sustainable growth. EBITDA expected to grow by at least 3% from technology upgrades, with better returns on new cape

Manaksia Coated Metals & Industries LtdQ1 FY25Industrial Products

Manaksia Coated Metals & Industries Ltd Q1 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹147.84P/E: 38.6Market Cap: ₹1.6K CrSector: Industrial Products

Management growth scorecard

Revenue

Category 1

Margin

Category 1

Fundraise

Yes

Order

N/A

Capex

Yes

4 of 4 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

Capacity expansion from 1,32,000 tons to 1,80,000 tons for aluminium zinc-coated steel by FY25 Q3, aiming for 75%-80% utilization.
Expected volume growth of 35%-40% in FY26 over FY25 minimum.
Volume growth of 17%-20% anticipated in FY25 itself.
Transition to aluminium zinc-alloy coated steel (Galvalume) expected to improve price realization and EBIT margins.
Plans to enter cold rolling steel market with 3 lakh tons capacity by FY27.
Capacity for colour coating line planned at 1,20,000 tons per annum in second phase.
Revenue growth projected to be upwards of 50%-60% post capacity full utilization for new facility.
Export sales expected to remain at approximately 35% of topline, with tonnage expected to increase.
EBITDA margin improvement of 3%-5%, reaching 9%-11%.
Strategic focus on increasing pre-painted steel production (higher EBITDA ~8%) over galvanized steel (~5%).

Margin guidance

Category 1

Technology upgrade project commissioning in Q4 FY25 expected to improve EBITDA margin by 3% (e.g., from 7-8% to 9-11%).
Capacity enhancement from 1,32,000 to 1,80,000 metric tons will drive 35-40% volume growth in FY26 over FY25.
Export sales expected at ~35% of total revenue for FY25, with tonnage growth.
Aluzinc product offers better price realization, boosting revenue by 50-60% and improving margins by 3-5%.
Long-term vision targets capacity over 3 lakh tons by FY28/FY29 with sustainable growth.
EBITDA expected to grow by at least 3% from technology upgrades, with better returns on new capex (~28%-32% ROC).
Solar power plant and efficiency initiatives expected to reduce costs and improve profitability starting FY26.
Earnings per share surged by 1266.67% in Q1 FY25, reflecting strong bottom-line growth momentum.

See what Manaksia Coated Metals & Industries Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Preferential Issue: 50% of the preferential issue was fully subscribed in the last financial year, with the remaining 50% expected to be completed within H1 of FY25.
Capex Funding:
- The solar power plant project (INR30-35 crores) has its financial tie-up already lined up.
- The technology upgrade and capacity enhancement project (INR40 crores) is underway, with the expected commissioning in Q4 FY25.
- Future capex plans include a second color-coating line (~INR50 crores) in the second half of FY26 and a cold rolling complex (~INR125 crores) in FY26/FY27; financial tie-ups for these are yet to be finalized but anticipated within the timeline.
Debt Profile: Current long-term debt is close to nil; focus is on better working capital management and reducing borrowing costs rather than raising new long-term debt immediately.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for Manaksia Coated Metals & Industries Limited. However, some related points can be inferred: - The company has a strong operational scale supported by a solid order book, contributing to an upgraded credit rating (A- long-term). - Export markets have expanded to include new countries such as Greece, Hungary, and Slovakia, indicating increasing demand. - Capacity expansions and technology upgrades (e.g., new coil slitting line, Galvalume product line) suggest anticipation of higher future orders. - The management aims for significant volume growth (17%-20% in FY25 and potentially 35%-40% in FY26), implying a growing order pipeline. - The company maintains a business model with mostly back-to-back raw material procurement tied to orders, facilitating order fulfillment and pricing stability. No specific figures or detailed order backlog data are disclosed in the call.

See what Manaksia Coated Metals & Industries Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Technology Upgrade and Capacity Enhancement Project: INR 40 crores capex, commissioning in Q4 FY25, increasing capacity from 1,32,000 to 1,80,000 tons/year focusing on aluminium zinc alloy (Aluzinc) coated steel.
Second Color-Coating Line: Planned for FY26 with an estimated capex of INR 50 crores.
Cold Rolling Complex: Planned for FY26/FY27 with an estimated capex of INR 125 crores targeting 3 lakh tons/year capacity.
Solar Power Plant: 6 MW capacity with investment around INR 30-35 crores, aiming to reduce electricity costs, commissioned by April next calendar year.
Coil Slitting Line: Minor investment of about INR 4-5 crores to enhance customization and product quality for OEMs and automotive sectors.
Sustainability Initiatives: Installation of zero-discharge infrastructure and effluent treatment plants to reduce power costs by 10-12%.

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Manaksia Coated Metals & Industries Ltd Q1 FY25 Earnings Call Analysis

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