Company Overview

Manaksia Aluminium Company Limited (BSE: 539045, NSE: MANAKALUCO) has disclosed its FY26 financial results and notice for its 16th Annual General Meeting scheduled for September 22, 2026.

Financial Performance

For FY ended March 31, 2026, the company reported revenue from operations of ₹56,390.67 lakhs (₹563.91 crores), showing growth from ₹50,914.75 lakhs in FY25. Net profit stood at ₹755.61 lakhs (₹7.56 crores) compared to ₹604.58 lakhs in the previous year, with basic EPS of ₹1.15. Key financial ratios improved with current ratio at 1.21, debt-equity at 1.69, and return on equity at 5.44%.

AGM Agenda and Corporate Actions

The 16th AGM will seek shareholder approval for:

  • Adoption of FY26 financial statements
  • Declaration of final dividend of ₹0.05 (5%) per equity share (record date: September 15, 2026)
  • Re-appointment of Mr. Sunil Kumar Agrawal as Managing Director for 3 years with remuneration of ₹10.5 lakhs per month
  • Ratification of cost auditor remuneration
  • Approval of material related party transactions totaling ₹350 crores with Metal Star Ceiling Panel Trading FZE (₹250 crores) and Athena Deox and Alloys Private Limited (₹100 crores)

Significant Contingency: GST Dispute

The company faces a substantial GST demand of ₹38.80 crore plus penalty of ₹3.88 crores plus applicable interest for erroneous refund claims during October 2018 to March 2022. Management contends the demand is unsustainable as the relevant rule has been declared ultra vires by the Kerala High Court and subsequently omitted. The company has preferred an appeal and no provision has been recognized in the financial statements.

Operational and Corporate Developments

The company maintains 30,000 tonnes annual production capacity with exports to over 20 countries. Two new overseas subsidiaries were incorporated: Manaksia Aluminium Inc. (USA) and Metal Star Celling Panel FZE (UAE), though share application money is pending deposit. The company underwent key managerial changes with new CFO and Company Secretary appointments during FY26.

Corporate Governance and Compliance

All regulatory requirements under Companies Act, 2013 and SEBI Listing Regulations have been met. The company maintains Infomerics credit ratings of BBB+ (Stable) for long-term and A2 for short-term banking facilities. CSR expenditure of ₹13.53 lakhs was incurred against required ₹17.17 lakhs.

Shareholding and Capital Structure

Promoters hold 74.87% stake with public holding at 16.48%. Paid-up share capital stands at ₹6.55 crores with net worth of ₹142.35 crores. Gross debt was ₹241.08 crores comprising short-term borrowings of ₹169.73 crores and long-term borrowings of ₹71.35 crores.