Fundraising Details
Manaksia Coated Metals & Industries Limited (MCMIL) has successfully raised ₹150 crore through a Qualified Institutional Placement (QIP). The issue was fully subscribed. Cumulative Capital Private Limited acted as the Sole Book Running Lead Manager to the issue. The fundraise witnessed participation from reputed investors.
Strategic Purpose of Fundraising
The capital raise marks an important step in the Company's financial strategy, strengthening its balance sheet and enhancing financial flexibility to support upcoming strategic projects. The funds are part of the company's broader financing strategy as it progresses through a significant investment cycle involving capacity expansion and backward integration.
Management Commentary
Karan Agrawal, Whole Time Director, stated: "The successful completion of our ₹150 crore QIP reflects the confidence of reputed investors in our business fundamentals and long-term growth strategy. We remain focused on disciplined capital allocation, strengthening our manufacturing capabilities and building a sustainable foundation for long-term growth. Supported by growing export traction and an expanding product portfolio, we remain confident of progressing towards our FY29 vision of tripling output, revenue and EBITDA."
Strategic Expansion Projects
Phase 1: Capacity Expansion and Renewable Energy
The Company is progressing towards the commissioning of its Second Colour Coating Line, which is expected to add 1,50,000 metric tonnes per annum (MTPA) of capacity. This will take its total pre-painted steel capacity to approximately 2,36,000 MTPA.
The Company is also developing a 7 MW captive solar power plant at its Kutch facility, which is expected to support lower energy costs and improve operational efficiencies.
Phase 2: Backward Integration & Capacity Expansion
Following the commissioning of Phase-1 projects, the Company plans to immediately commence its backward-integration project and capacity expansion up to 3,60,000 MTPA. This is expected to further strengthen manufacturing capabilities and cost competitiveness, enhancing value addition and improving operational efficiencies.
Financial Performance
During Q2 FY27, MCMIL reported:
- Total Income: ₹321.55 crore
- EBITDA: ₹36.91 crore
- Profit After Tax (PAT): ₹18.73 crore
The Company reported an order book of approximately ₹525 crore, providing revenue visibility for the coming months.
Business Focus Areas
The Company continues to focus on:
- Expanding its value-added product portfolio
- Strengthening export and domestic markets
- Enhancing manufacturing efficiencies
- Pursuing disciplined capital allocation
Company Overview
Manaksia Coated Metals & Industries Limited is a prominent manufacturer and exporter of coated steel products, manufacturing Pre-painted Steel and Alu-Zinc-coated steel in coil & sheet forms. All value-added steel products are manufactured in the company's facility in Kutch, Gujarat, which is strategically situated in close proximity to Kandla and Mundra Ports.
Investor Relations Contacts
Book Running Lead Manager
Cumulative Capital Private Limited (SEBI registration No.: INM000013129)
- Address: B 309-311, 215 Atrium, Nr. Courtyard Marriott Hotel, Andheri Kurla Road, Andheri East, Chakala MIDC, Mumbai- 400093
- Tel: +91 98196 62664 / 82000 52280
- Investor grievance e-mail: investor@cumulativecapital.group
- Contact Person: Swapnilsagar Vithalani
Investor Relations Advisor
Go India Advisors
- Ms. Sana Kapoor: Phone: +91 8146550469, Email: sana@goindiaadvisors.com
- Ms. Naini Luniya: Phone: +91 7987754545, Email: naini@goindiaadvisors.com