Manaksia Coated Metals & Industries Limited successfully raises INR 150 crore through QIP; issue fully subscribed

Kolkata, November 06, 2026: Manaksia Coated Metals & Industries Limited (MCMIL), a leading manufacturer and exporter of coated steel products, has successfully raised ₹150 crore through a Qualified Institutional Placement (QIP), with the issue fully subscribed. Cumulative Capital Private Limited acted as the Sole Book Running Lead Manager to the issue. The fundraise witnessed participation from reputed investors, reflecting their confidence in the Company's business fundamentals, strategic direction, and long-term growth potential.

The capital raise marks an important step in the Company's financial strategy, strengthening its balance sheet and enhancing financial flexibility to support its upcoming strategic projects.

“The successful completion of our ₹150 crore QIP reflects the confidence of reputed investors in our business fundamentals and long-term growth strategy. The capital raise is part of our broader financing strategy as we progress through a significant investment cycle involving capacity expansion and backward integration. 

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.”

— Karan Agrawal, Whole Time Director, Manaksia Coated Metals & Industries Limited

ADVANCING STRATEGIC PROJECTS

MCMIL continues to progress on its strategic expansion plans, which are being implemented in phases.

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, taking 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, which is expected to further strengthen its manufacturing capabilities and cost competitiveness. The proposed project is expected to enhance value addition and improve operational efficiencies.

STRONG OPERATING PERFORMANCE AND GROWTH OUTLOOK

The Company's ongoing investments are supported by strong operating momentum and a growing business pipeline.

During Q2 FY27, MCMIL reported total income of ₹321.55 crore, EBITDA of ₹36.91 crore and Profit After Tax (PAT) of ₹18.73 crore. The Company reported an order book of approximately ₹525 crore, providing revenue visibility for the coming months.

The Company continues to focus on expanding its value-added product portfolio, strengthening export and domestic markets, enhancing manufacturing efficiencies and pursuing disciplined capital allocation.

With a strengthened balance sheet and a clear focus on capacity expansion, backward integration and operational efficiencies, Manaksia Coated Metals & Industries Limited is positioning itself for its next phase of growth and long-term value creation.