Export Tonnage
66,172 MT
+110% YoY
Exports doubled year-on-year, now 68% of total revenue.
MANAKSIACOATEDMETALS
Other
15 May 2026
Manaksia Coated Metals & Industries Ltd — Q4 FY26
Manaksia Coated Metals reported Q4 FY26 revenue of ₹228.74 Cr (+9% YoY, +20.45% QoQ) and PAT of ₹5.37 Cr (+6.73% YoY).
✓ Verified against BSE filing
2-Min Summary
Manaksia Coated Metals reported Q4 FY26 revenue of ₹228.74 Cr (+9% YoY, +20.45% QoQ) and PAT of ₹5.37 Cr (+6.73% YoY). EBITDA margin compressed to 6.84% due to Middle East conflict-driven cost spikes in energy and raw materials, but management confirmed full pass-through to customers. Full-year FY26 revenue crossed ₹896 Cr (+13.5% YoY) with EBITDA margin expanding 246 bps to 10.29%. The Aluzinc coating line (180K MT capacity) is ramping up, and a second color coating line (150K MT) is on track for July 2026 commissioning. Export tonnage doubled to 66,172 MT (68% of revenue). Guidance: H1 FY27 margins to recover meaningfully; sustainable EBITDA margin of 10-12%. Risk: Geopolitical escalation could again disrupt input costs and freight.
Key Numbers
Value-Added Product Mix (Prepainted Steel)
80%
+6pp YoY
Prepainted steel share of quantity sold increased from 74% in FY25.
Price Realization per Ton
₹82,193
+11.6% YoY
Improved from ₹73,622 in FY25 due to product premiumization.
Order Book
₹350-400 Cr
N/A
Strong order pipeline from export customers despite global tensions.
Management Guidance
Second color coating line commissioning by July 2026
The 150,000 MT capacity line will increase total color coating capacity by 174% to 236,000 MT.
expansion7 MW solar plant commissioning by July 2026
Captive solar plant will offset 50-55% of grid power dependency, saving ₹7-7.5 Cr annually.
capexSustainable EBITDA margin of 10-12%
Management expects EBITDA margins to remain in the 10-12% range for the foreseeable future.
marginsIncremental revenue of ₹300-500 Cr in FY27
From higher Aluzinc utilization and new color coating line, over FY26 revenue of ₹896 Cr.
revenueKey Risks
Geopolitical disruption and cost escalation
Middle East conflict caused 200% spike in LPG/propane and 50-75% rise in consumables, compressing Q4 margins.
high · management_commentaryExecution risk on capacity ramp-up
New Aluzinc line is at 60-65% utilization; full ramp-up may take longer than expected.
medium · analyst_questionExport concentration and tariff risk
68% revenue from exports; US tariffs or trade barriers could impact demand, though no US exposure currently.
medium · analyst_questionBackward integration project uncertainty
Cold rolling mill (target FY28) has no finalized financial tie-up or supplier selection, posing timeline risk.
medium · analyst_questionNotable Quotes
We are successfully able to pass through the entire impact of the incremental costs to our customers and we have strong visibility of EBITDA earnings for the quarters yet to unfold.
The product per se which is Aluzinc is definitely a product that is a more profitable product both in terms of costs and price realization.
We have achieved 80% export rate while climbing from lows of 20-25% which was 3-4 years back.