Divya Agarwal
Mumbai (Maharashtra) [India], October 29: Manaksia Coated Metals & Industries Limited (NSE: MANAKCOAT, BSE: 539046) is one of the leading coated steel manufacturers and exporters. Specialising in Pre-painted Galvanised Steel and Plain Galvanised Steel in both coil and sheet forms, has reported its Unaudited financials for Q2 & H1 FY26.
Key Consolidated Financial Highlights
Q2 FY26 Key Financial Highlights
- Total Income of ₹ 223.68 Cr, YoY growth of 26.66%
- EBITDA of ₹ 29.45 Cr, YoY growth of 112.95%
- EBITDA Margin (%) of 13.17.%, YoY growth of 534 BPS
- Net Profit of ₹ 13.96 Cr, YoY growth of 490.68%
- Net Profit Margin (%) of 6.24%, YoY growth of 490 BPS
- EPS of ₹ 1.43, YoY growth of 346.88%
H1 FY26 Key Financial Highlights
- Total Income of ₹ 477.62 Cr, YoY growth of 28.40%
- EBITDA of ₹ 58.07 Cr, YoY growth of 102.82%
- EBITDA Margin (%) of 12.16.%, YoY growth of 446 BPS
- Net Profit of ₹ 27.97 Cr, YoY growth of 423.19%
- Net Profit (%) of 5.86.%, YoY growth of 442 BPS
- EPS of ₹ 2.81, YoY growth of 290.28%
Other Key Consolidated Highlights for Q2 & H1 FY26
- Profit Before Tax grew by 504.98% YoY to ₹19.02 crore in Q2 FY26.
- Galvanised Steel production rose to 26,572 MT in Q2 FY26, reflecting a YoY growth of 7.91%.
- PPGI Steel production reached 21,653 MT in Q2 FY26, showing a YoY growth of 18.21%.
- Value-added products (PPGI) contributed 92% of total sales volume.
- Exports accounted for 85.06% of total sales, an all-time high.
- Export revenue increased by 151% YoY in Q2 FY26 and by 163% YoY in H1 FY26.
Commenting on the performance, Mr Karan Agrawal, Whole Time Director, Manaksia Coated Metals & Industries Limited, said, “We are delighted to report another strong quarter for MCMIL, marked by robust operational performance, significant improvement in profitability, and continued execution of our strategic growth initiatives.”
Revenue for Q2 FY26 grew by 26.66% year-on-year, reaching ₹223.68 crore, driven by export volumes and a diverse product mix. Our EBITDA more than doubled, growing by 112.95% YoY to ₹29.45 crore, with margins expanding by 534 basis points to 13.17% — reflecting our sustained efforts toward value addition, cost optimisation, and operational discipline. This strong performance translated into a PAT of ₹13.96 crore, a remarkable 491% growth YoY, and a high PAT margin of 6.24%.
Our export sales increased significantly, now contributing over 85% of total revenue, showcasing the strength of our global customer relationships and competitiveness in international markets. At the same time, the company’s focus on deleveraging and prudent financial management has resulted in the Debt-to-Equity ratio improving to 1.19x, with total debt reducing by 27% since March 2025.
Alongside these financial achievements, we have made meaningful progress on our key capital projects. The Aluminium-Zinc Coating Line upgradation is set to begin its transition phase in FY26, marking a shift to a technologically superior product with enhanced durability and market recognition, along with an increase in capacity. Our new Colour Coating Line—which we believe will increase total colour coating capacity by over 170%—is under manufacturing at our supplier’s facility, with commissioning targeted for FY 2027. The 7 MWp Solar Power Plant project at Kutch has also been initiated with a leading EPC partner and will aim to replace over 50% of our grid dependency with renewable energy.
Overall, Q2 FY26 stands as one of the strongest quarters in MCMIL’s history — both financially and strategically. With a sharper focus on premium product lines, exports, sustainability, and digital transformation, we remain confident of continuing our growth momentum in the coming quarters and creating lasting value for our stakeholders.
Q2 FY26 Key Business Highlights
Receives Upgraded Credit Rating
- Long-term Rating: Upgraded to A from A(-)
- Short-term Rating: Upgraded to A1 from A2
- Agency: Acuité Ratings & Research
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