Manaksia Coated Metals touches roof on securing contract worth $24 million
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Manaksia Coated Metals & Industries is currently trading at its upper circuit limit of Rs. 69.93, up by 3.33 points or 5.00% from its previous closing of Rs. 66.60 on the BSE.
The scrip opened at Rs. 69.90 and has touched a high and low of Rs. 69.93 and Rs. 67.51 respectively. So far 61198 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 74.75 on 09-Sep-2024 and a 52 week low of Rs. 22.77 on 29-Sep-2023.
Last one week high and low of the scrip stood at Rs. 71.75 and Rs. 63.00 respectively. The current market cap of the company is Rs. 519.36 crore.
The promoters holding in the company stood at 69.19%, while Institutions and Non-Institutions held 0.14% and 30.67% respectively.
In a significant breakthrough for its global ambitions, Manaksia Coated Metals & Industries (MCMIL) has secured a milestone contract worth $24 million (around Rs 200 crore) with a leading European client. The agreement includes the supply of 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 agreement has the potential to transform into a recurring order, providing a steady pipeline of revenue for MCMIL over the coming years. This will also allow the company to fully utilise the additional capacity expected from its Continuous Galvanizing Line (CGL) upgrades, scheduled to complete in Q4-FY2025, further enhancing MCMIL’s production capabilities and global competitiveness.
Manaksia Coated Metals & Industries (MCMIL) is a leading manufacturer and exporter of high quality coated metal products, including Pre-painted Galvanised Steel and Plain Galvanised Steel in coil and sheet forms.
