Manaksia Coated Metals & Industries Limited Reports Phenomenal 2,321 per cent Increase in FY24 Consolidated PAT
Aug 09, 2024
PNN
New Delhi [India], August 9: Manaksia Coated Metals & Industries Limited (NSE: MANAKCOAT, BSE: 539046) is one of the leading coated metal products manufacturers and exporters. Specializing in Pre-painted Galvanised Steel and Plain Galvanised Steel in both coil and sheet forms, has reported its Unaudited financials for Q1 FY25.
Q1 FY25 Key Financial Highlights (Consolidated)
* Total Income of Rs 195.38 Cr, YoY growth of 11.04%
* EBITDA of Rs 14.80 Cr, YoY growth of 26.04%
* EBITDA Margin of 7.57%, YoY growth of 90 Bps
* PAT of Rs 2.98 Cr, YoY growth of 2,320.37%
* PAT(%) of 1.53%, YoY growth of 146 Bps
* EPS of Rs 0.4, YoY growth of 1,900.00%
Key Highlights For Q1 FY25
* In Q1 FY25 Metal products contributed Rs 192.31 Cr and other products contributed Rs 1.47 Cr.
Commenting on the performance Karan Agrawal Whole Time Director, Manaksia Coated Metals & Industries Limited said, "We are pleased to report a commendable performance for Q1 FY25, with significant improvements in our Profit After Tax and overall performance, reflecting our strategic initiatives and operational efficiencies in the coated metal products sector. This growth is expected to be sustainable, driven by several key factors.
Our long-term credit rating has been upgraded from ACUITE BBB+ to A-, and our short-term rating has improved from ACUITE A2 to A2+. These upgrades underscore our enhanced financial stability and boost our credibility, positioning us advantageously for future growth. This improved rating allows us to access better financing options and invest further in our business.
The Union Budget's emphasis on infrastructure development and positive growth projections for the steel industry have created a favourable environment for our operations. Increased infrastructure spending is anticipated to drive demand for steel products, benefiting our business.
As we advance, we remain committed to capitalizing on these opportunities, enhancing our product offerings, and delivering sustained value. This positive momentum establishes a strong foundation for continued growth and success in the upcoming quarters."
Highlights For Q1 FY25 (April 2024 - June 2024)
Credit Rating Upgradation
The company's long-term credit rating from ACUITE has been upgraded from BBB+ to A-, and its short-term rating from A2 to A2+.
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