Manaksia Coated Metals & Industries Limited (MCMIL) has won a significant contract worth ₹200 crore (USD 24 million) with a leading European client. The deal, announced on September 30, 2024, involves supplying 20,000 metric tonnes of premium pre-painted steel coils, Alu Zinc coated steel coils, and galvanized steel products over the next 12 months.
The shares of Manaksia Coated Metals & Industries Limited (MCMIL) were trading at ₹69.64 up by ₹3.31 or 4.99 per cent on the NSE today at 11 am.
This contract marks a major milestone in MCMIL’s global expansion strategy, particularly in the European market. The agreement has the potential to become a recurring order, providing a steady revenue stream for the company in the coming years.
MCMIL expects this deal to substantially boost its export revenue and enhance its position as a preferred supplier to top-tier European clients. The company plans to leverage its upcoming Continuous Galvanizing Line (CGL) upgrades, scheduled for completion in Q4-FY2025, to meet the increased demand.
Karan Agrawal, Whole Time Director of MCMIL, expressed confidence that the increasing export orders, combined with a shift toward higher-margin products, will drive EBITDA margin growth and improve the company’s return on equity and capital employed.