Manaksia Coated Metals Secures $24 Million Contract with European Client

Manaksia Coated Metals & Industries Limited (MCMIL) has signed a $24 million contract to supply 20,000 metric tonnes of steel coils to a leading European client. The deal is expected to bolster the company's revenue, production capacity, and global competitiveness.

Manaksia Coated Metals & Industries Limited (MCMIL), listed on NSE as MANAKCOAT and BSE as 539046, has achieved a notable milestone by securing a $24 million contract with a prominent European client. The deal involves supplying 20,000 metric tonnes of premium pre-painted steel coils, Alu Zinc-coated steel coils, and galvanized steel products over the next year.

Company officials revealed that this agreement could transform into a recurring order, providing a steady revenue stream and allowing MCMIL to fully utilize its upcoming Continuous Galvanizing Line (CGL) upgrades. Scheduled for completion in Q4-FY2025, these upgrades are expected to enhance production capabilities and global competitiveness.

This strategic deal not only solidifies MCMIL's foothold in the competitive European market but also amplifies its export growth. The contract is a testament to MCMIL's commitment to quality and reliability, aligning perfectly with its ongoing efforts to expand globally. According to Karan Agrawal, Whole Time Director, this contract is pivotal for the company as it aims to leverage increased export orders and shift towards higher-margin products, driving overall financial performance.

(With inputs from agencies.)