Manaksia Coated Metals & Industries Limited, a manufacturer and exporter of galvanised and pre-painted steel, has signed memorandums of understanding (MoUs) with European clients valued at about INR 5 billion. The company said in a filing with the stock exchanges that the agreements cover supply of up to 50,000 metric tonnes of coated steel products over the next 12 months.
According to the company’s statement, the supply contracts include pre-painted steel coils, Alu-Zinc coated coils, and galvanised steel products. The deals are expected to increase utilisation of existing production capacity and strengthen the company’s position in the European market, where exports contributed about 70 percent of revenue from operations in the first half of FY 2025–26.
The company is upgrading technology and expanding manufacturing capacity to support future growth. Planned developments include increasing Alu-Zinc coating capacity to 180,000 tonnes and commissioning a new colour coating line that will raise total capacity to 236,000 tonnes annually. These enhancements are intended to boost output of value-added products for international customers.
“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,” said Karan Agrawal, Whole Time Director of Manaksia Coated Metals & Industries Limited. He added that the company is also implementing a 7.0 megawatt-peak renewable energy project to reduce reliance on grid power and improve cost efficiency.
Agrawal further noted that the company’s external credit rating has been upgraded by Acuité from A(–) to A for the long term and from A2 to A1 for the short term, reflecting stronger financial fundamentals. These improvements, together with planned capacity expansion, are expected to help the company scale operations and increase its share of the global coated metals industry.
Manaksia Coated Metals & Industries Limited manufactures pre-painted galvanised and plain galvanised steel in coil and sheet forms at its facility in Kutch, Gujarat. Located close to Kandla and Mundra ports, the site supports both domestic and export logistics. In FY 2024–25, the company reported consolidated total income of INR 789.66 crore, earnings before interest, tax, depreciation and amortisation (EBITDA) of INR 63.01 crore, and net profit of INR 15.39 crore.