PNN
Mumbai (Maharashtra) [India], September 23: Manaksia Coated Metals & Industries Limited (NSE: MANAKCOAT, BSE: 539046), is one of the leading coated metal products manufacturer and exporter, specialized in Pre-painted Galvanised Steel and Plain Galvanised Steel in both coil and sheet forms, announced that Acuite Ratings & Research has upgraded the company's credit ratings. The long-term rating has been revised from A(-) to A, and the short-term rating has been elevated from A2 to A1.
The upgrade reflects the company's strong financial profile, consistent performance, and prudent financial management. Acuite cited the company's healthy balance sheet, robust operational metrics, and its ability to sustain growth momentum across domestic and international markets as key factors supporting the improved ratings.
Looking ahead, the company is undertaking strategic initiatives to drive sustainable growth, including an Aluminium-Zinc technology upgrade and capacity expansion to 180,000 MTPA, a 7.0 MWp captive solar project to cut energy costs, and commissioning of Color Coating Line 2 in Q4 FY26 to boost high-margin production. These measures, along with the upgraded credit ratings, are set to strengthen financial flexibility, reduce borrowing costs, and reinforce the company's position as a trusted partner in the coated metals industry.
Commenting on the performance, Karan Agrawal Whole Time Director, Manaksia Coated Metals & Industries Limited said, "The external credit rating upgrade by Acuite is a strong validation of our financial discipline, operational strength, and consistent growth performance. This development will provide the company with improved access to capital, greater financial flexibility, and the benefit of reduced borrowing costs, enabling us to strengthen our growth journey. Our future plans are anchored on expanding scale, improving efficiencies, and enhancing our presence in premium global markets. Exports remain a key growth driver, and a healthy pipeline of orders reinforces our confidence in sustained momentum. With these levers in place, we are well-positioned to achieve long-term growth and consolidate our leadership in the coated metals industry."
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