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PNN
Mumbai (Maharashtra) [India], November 3: Manaksia Coated Metals & Industries Limited (NSE: MANAKCOAT, BSE: 539046), one of the leading coated steel manufacturers and exporters, specialising in Galvanised and Pre-painted Steel, has signed a Memorandum of Understanding (MoU) with certain European clients, amounting to 500 Cr. Under these agreements, the company will supply up to 50,000 metric tonnes of pre-painted steel coils, Alu-Zinc coated coils, and galvanised steel products over the next 12 months. This development is expected to enhance the company's production capacity utilisation and further strengthen its global export portfolio. Strategic Significance * Mark's export growth expansion in European markets. * Expected to increase export revenue contribution, which was 70% of revenues from operations in H1 FY26. * Strengthens relationships with European clients, with potential to translate into repeat orders. * Leverages upcoming technology upgrade to ALU-ZINC, along with capacity expansion to 180,000 MT, and a new Color Coating Line expansion, taking the total capacity to 236,000 MT, enhancing capacity for value-added products. Commenting on the performance, Mr Karan Agrawal, Whole Time Director, Manaksia Coated Metals & Industries Limited, said, " Signing these MoUs is a significant milestone for Manaksia Coated Metals and Industries. We believe that this partnership further strengthens our position in global markets. We are also advancing a 7.0 MWp renewable energy project to reduce dependency on grid power and improve cost efficiency. Our external credit rating has been recently upgraded by Acuite from A(-) to A for the long-term and from A2 to A1 for the short-term, reflecting the robustness of our financial fundamentals. With upcoming capacity expansions and technology upgrades, we are entering an exciting growth phase that will enable us to scale and capture a larger share of the global coated metals industry." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
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