Any current/future new fundraising through debt or equity?

No specific mention of current or future fundraising through debt or equity in the transcript. The company recently completed a fundraise of INR135 crores through issuance of fully convertible equity warrants in December 2024, providing financial flexibility. This capital raise is supporting ongoing strategic projects including Alu-Zinc technology upgrade, captive solar power plant, and color coating capacity expansion. There is mention of reduced borrowing: Current borrowings decreased from INR113 crores to INR67 crores; total debt declined by INR33 crores to INR144 crores, indicating i

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

INR40 crores capex for upgrading galvanizing line to Alu-Zinc technology, increasing capacity to 180,000 tons/year; commissioning targeted by July 2025 (Q2 FY '26). Captive solar power plant project (6.5 to 7 MW capacity) with a capex of INR28-30 crores; EPC contract award expected by May 2025; commissioning within 7-9 months. Expansion of color coating capacity with a second line of 150,000 tons capacity; final order expected by May/June 2025; commissioning in 9-10 months. Total capex mainly focused on Phase 1 and Phase 2 projects in the current and next financial year (FY '25-FY '26).

Future growth expectations in sales/revenue/volumes?

Alu-Zinc project expected to significantly enhance revenue and margins, with capacity increasing from 130,000 to 180,000 tons annually. Alu-Zinc product realization is 4%-5% higher than conventional galvanized steel, driving EBITDA growth by an estimated 40%. Export revenues are targeted to increase, aiming for approximately a 50-50 split between domestic and export sales in FY '26 (up from 39.5% export revenue in FY '25). Production volume grew 21% for galvanized steel and 22% for color-coated steel in FY '25, expected to increase further with capacity expansion. New markets targeted include

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

Alu-Zinc project is a significant growth driver, expected to enhance revenue and EBITDA margins by 35%-40% due to higher value realization and reduced raw material costs. Capacity expansion from 130,000 tons to 180,000 tons per annum with Alu-Zinc commissioning targeted in Q2 FY'26 (July 2025). Addition of a second color coating line (150,000 tons capacity) will boost high-margin product offerings with commissioning 9-10 months post order placement (around early FY'27). Captive solar power plant (7 MW) commissioning in 7-9 months expected to save INR6.5-7 crores EBITDA annually, reducing

Current/ Expected Orderbook/ Pending Orders?

Current total export order book is between INR 280 crores to INR 300 crores. Around 25% to 30% of export orders pertain to Alu-Zinc products; the rest are for galvanized products. Domestic order book covers about 45 to 60 days and mainly consists of galvanized and pre-painted galvanized products. Export order book for Alu-Zinc products has started with orders for July and August shipments. Export order book stands at a healthy 4-month backlog, approximately INR 300 crores. Domestic order book covers roughly 100 to 120 days, valued around INR 120 crores. Overall, export order book is at its str

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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: ₹108P/E: 28.4Market Cap: ₹1.2K CrSector: Industrial Products

Management growth scorecard

Revenue

Category 2

Margin

Category 1

Fundraise

Yes

Order

Yes

Capex

Yes

4 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 2

→Alu-Zinc project expected to significantly enhance revenue and margins, with capacity increasing from 130,000 to 180,000 tons annually.
→Alu-Zinc product realization is 4%-5% higher than conventional galvanized steel, driving EBITDA growth by an estimated 40%.
→Export revenues are targeted to increase, aiming for approximately a 50-50 split between domestic and export sales in FY '26 (up from 39.5% export revenue in FY '25).
→Production volume grew 21% for galvanized steel and 22% for color-coated steel in FY '25, expected to increase further with capacity expansion.
→New markets targeted include Latin America, Caribbean Islands, and continued growth in Europe, particularly due to declining local steel production there.
→Second color coating line with 150,000 tons capacity to be added, expanding high-margin, value-added steel production.
→Overall, steady volume growth driven by capacity expansions and new product lines is anticipated in FY '26 and beyond.

Margin guidance

Category 1

→Alu-Zinc project is a significant growth driver, expected to enhance revenue and EBITDA margins by 35%-40% due to higher value realization and reduced raw material costs.
→Capacity expansion from 130,000 tons to 180,000 tons per annum with Alu-Zinc commissioning targeted in Q2 FY'26 (July 2025).
→Addition of a second color coating line (150,000 tons capacity) will boost high-margin product offerings with commissioning 9-10 months post order placement (around early FY'27).
→Captive solar power plant (7 MW) commissioning in 7-9 months expected to save INR6.5-7 crores EBITDA annually, reducing energy costs and carbon footprint.
→Export revenue, currently 39%, is expected to grow, targeting a balanced 50-50 domestic and export revenue mix in FY'26.
→Overall, strong volume growth (20%+ in galvanized and pre-painted steel in FY'25) and operational efficiencies point toward robust earnings and EPS growth ahead.
→PAT grew 37% in FY'25; future growth expected to be stronger as new projects ramp up.

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Fundraise plans

Yes

→No specific mention of current or future fundraising through debt or equity in the transcript.
→The company recently completed a fundraise of INR135 crores through issuance of fully convertible equity warrants in December 2024, providing financial flexibility.
→This capital raise is supporting ongoing strategic projects including Alu-Zinc technology upgrade, captive solar power plant, and color coating capacity expansion.
→There is mention of reduced borrowing: Current borrowings decreased from INR113 crores to INR67 crores; total debt declined by INR33 crores to INR144 crores, indicating improved financial discipline.
→No explicit plans or announcements regarding new fundraising activities beyond this point in the transcript.

Order book

Yes

→Current total export order book is between INR 280 crores to INR 300 crores.
→Around 25% to 30% of export orders pertain to Alu-Zinc products; the rest are for galvanized products.
→Domestic order book covers about 45 to 60 days and mainly consists of galvanized and pre-painted galvanized products.
→Export order book for Alu-Zinc products has started with orders for July and August shipments.
→Export order book stands at a healthy 4-month backlog, approximately INR 300 crores.
→Domestic order book covers roughly 100 to 120 days, valued around INR 120 crores.
→Overall, export order book is at its strongest, driven by prestigious European customers.
→Capacity utilization is high: color coating line at ~97-100%, galvanizing at ~85%, supporting the order fulfillment.

Capex plans

Yes

→INR40 crores capex for upgrading galvanizing line to Alu-Zinc technology, increasing capacity to 180,000 tons/year; commissioning targeted by July 2025 (Q2 FY '26).
→Captive solar power plant project (6.5 to 7 MW capacity) with a capex of INR28-30 crores; EPC contract award expected by May 2025; commissioning within 7-9 months.
→Expansion of color coating capacity with a second line of 150,000 tons capacity; final order expected by May/June 2025; commissioning in 9-10 months.
→Total capex mainly focused on Phase 1 and Phase 2 projects in the current and next financial year (FY '25-FY '26).
→These investments aim to enhance scale, cost competitiveness, margin profile, and sustainability.

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