Manaksia Coated Metals Wins Rs 200-Cr European Order

Hyderabad: City-based Manaksia Coated Metals & Industries Limited (MCMIL) on Thursday said it secured an export order worth $24 million (about Rs 200 crore) from a European company for the supply of 20,000 metric tonnes of premium pre-painted steel coils, Alu Zinc coated steel coils, and galvanised steel products over the next 12 months.

The company expects this agreement to transform into a recurring order, providing a steady pipeline of revenue for MCMIL over the coming years. This will also allow the company to fully utilise the additional capacity expected from its Continuous Galvanizing Line (CGL) upgrades, scheduled to be complete in Q4FY25 at its plant in Gujarat, further enhancing MCMIL’s production capabilities and global competitiveness. The company is spending Rs 40 crore on the CGL upgrades as a part of its 315- crore expansion over next four years.

Sushil Agrawal, Managing Director, MCMIL, said: “The deal highlights our commitment to delivering world-class quality and reliability and comes at a time when we are focused on global expansion. We look forward to leveraging this opportunity to drive further growth through innovation and operational excellence”.

We are confident that the increasing export orders, combined with a shift toward higher-margin products like Alu-Zinc and Pre-painted Alu-Zinc steel, will drive EBITDA margin growth and enhance RoE/RoCE performance, he added.