Manaksia Coated Metals Seals ₹500 Cr Deal to Bolster European Presence

Manaksia Coated Metals & Industries Limited has announced a substantial advancement by signing a Memorandum of Understanding worth ₹500 crore with European clients. The deal involves the supply of up to 50,000 metric tonnes of pre-painted and galvanised steel products over the next year.

This development is expected to significantly enhance the company's production capacity and reinforce its global export portfolio. The agreement underscores Manaksia's focus on expanding its presence in European markets and is anticipated to increase the company's export revenue, which has already contributed 70% of its operational revenues in the first half of the fiscal year 2026.

The strategic agreement not only strengthens Manaksia's ties with European partners, potentially leading to repeat orders but also allows the company to leverage upcoming technology upgrades. These include an increase in production capacity to 180,000 metric tonnes and a new Color Coating Line expansion, raising the total capacity to 236,000 metric tonnes, thus enabling more value-added products.

Karan Agrawal, Whole Time Director at Manaksia, highlighted the importance of the deal, stating that the MoUs mark a significant milestone in their global market penetration. He added that the company's recent credit rating upgrades reflect strong financial fundamentals, bolstering its readiness for a growth phase powered by technological advancements and increased production capabilities.