Manaksia Coated FY26 Earnings and Dividend Update

Financial Results Announced

Manaksia Coated Metals & Industries Ltd. today announced its audited financial results for the fiscal year ending March 31, 2026. The company reported a standalone profit after tax (PAT) of ₹41.08 crore on standalone revenue of ₹896.14 crore. On a consolidated basis, PAT stood at ₹15.82 crore for FY2026. The Board of Directors has recommended a final dividend of Re. 0.05 per equity share, which awaits shareholder approval at the upcoming Annual General Meeting (AGM). The board also approved appointments for Internal and Cost Auditors for FY 2026-27 and the re-appointment of Mr. Addanki Venkata Srinarayana as Wholetime Director for a three-year term starting May 30, 2026, pending shareholder consent. Key management remuneration hikes were also approved, contingent on shareholder ratification.

What Investors Need to Know

These results offer a comprehensive annual financial overview, detailing the company's performance in standalone and consolidated operations. The proposed final dividend signifies a direct return to shareholders, reflecting confidence in future profitability. Approvals for auditor appointments are crucial for regulatory compliance and governance. The re-appointment of a key director and adjustments to senior management compensation aim to ensure leadership continuity and align executive incentives with company growth, though final approval rests with shareholders.

Company Growth and Past Performance

Manaksia Coated has been pursuing strategic growth, recently completing an Alu-Zinc technology upgrade that increased its continuous galvanising line capacity by 36% to 180,000 TPA. Further expansion is planned, with a second color coating line expected in early FY27 to boost capacity by 174%. Recent performance highlights include a significant 241% year-on-year surge in 9-month FY26 net profit and achieving an all-time high export share of 85% of total sales in Q2 FY26. The company has also prioritized debt reduction. In FY25, annual revenue grew by 6.03% and net profit by 34.42%. However, the company did experience a Q3 FY26 consolidated revenue decline of 15.1% quarter-on-quarter.

Shareholder Decisions and Risks

Shareholders will vote on several key proposals at the upcoming AGM: the recommended final dividend of Re. 0.05 per share, the re-appointment of Mr. Addanki Venkata Srinarayana as Wholetime Director, and approved remuneration increases for senior management personnel like Managing Director Mr. Sushil Kumar Agrawal. The company's cost of borrowing remains a concern, alongside a reported low return on equity of 7.49% over the past three years. Promoter holding has decreased by 9.97% in the same period. Additionally, the company faced a 15.1% quarter-on-quarter revenue decline in Q3 FY26.

Peer Comparison

Manaksia Coated operates within the steel and coated metals sector. Key industry players often benchmarked include JSW Steel Ltd. and Tata Steel Ltd. Other companies in related segments include Gravita India Ltd. and Ratnamani Metals Tubes Ltd.

Key Financial Figures FY26

• Standalone Revenue: ₹896.14 crore (₹89,614.45 lakh)
• Standalone Profit After Tax: ₹41.08 crore (₹4,107.65 lakh)
• Consolidated Revenue: ₹781.63 crore (₹78,162.76 lakh)
• Consolidated Profit After Tax: ₹15.82 crore (₹1,581.83 lakh)

What to Track Next

Investors will monitor the outcome of shareholder votes at the AGM on the proposed dividend and remuneration adjustments. The company's formal intimation regarding the dividend record date is also awaited. Progress on ongoing capacity expansion projects, specifically the second color coating line and solar plant, will be important. Monitoring export performance and new client acquisitions, particularly in European markets, will also be key.