Manaksia Steels Board Approves Q1 FY27 Results and ₹800 Crore Capacity Expansion
Manaksia Steels approved Q1 FY27 results and a ₹800 crore expansion plan for its Haldia facility to produce Cold-Rolled Coil and Coated Steel. The AGM is scheduled for September 23, 2026, with a September 16 cut-off date. Expansion will occur in two phases, with Phase I costing ₹375 crore and Phase II ₹425 crore.
The ₹800 crore capacity expansion is a material investment that will significantly impact the company's future revenue and market position.
The company announced positive financial results and a significant capacity expansion plan, indicating growth and future prospects.
Manaksia Steels Limited announced the outcome of its Board Meeting held on August 10, 2026. The Board approved the Unaudited Financial Results for the quarter ended June 30, 2026, both standalone and consolidated.
The company also announced that its 25th Annual General Meeting (AGM) will be held on Wednesday, September 23, 2026, at 03:00 P.M. IST through Video Conferencing. The cut-off date for recording shareholder names for remote e-voting and e-voting during the AGM has been set as Wednesday, September 16, 2026.
Furthermore, the Board granted in-principle approval for a significant expansion of its manufacturing facility at Haldia, West Bengal. This expansion, estimated to cost approximately ₹800 crore, aims to increase the production of Cold-Rolled Coil and Coated Steel in two phases. The investment will be funded through a mix of debt and internal accruals. Phase I includes setting up Colour Coating Line – II, a Cold Rolling Mill, and additional capacity for GP/Alu Zinc Coils, with an estimated investment of ₹375 crore, expected to be completed by the financial year 2029-30. Phase II involves further capacity expansion with an estimated investment of ₹425 crore plus land value, targeting completion by the financial year 2033-34. The company is also evaluating the installation of a 10 MW captive solar power plant.
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