Business EconomyPosted at: Oct 3 2024 8:18PM


MCMIL secures Rs 200 cr European contract

Hyderabad, Oct 3 (UNI) Manaksia Coated Metals & Industries Limited (MCMIL), a leading manufacturer and exporter of high-quality coated metal products, on Thursday announced it has secured USD 24 million (around ₹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 Gujarat based company said in a release.
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.
Karan Agrawal, Whole Time Director, Manaksia Coated Metals & Industries Limited said, “This contract marks a pivotal moment in MCMIL’s journey towards expanding its global footprint, particularly in the competitive European market and we are honoured to have earned the confidence of a leading European client.
We are confident that the increasing export orders, combined with a shift toward higher-margin products like Alu-Zinc and Pre-painted Alu-Zinc steel, will drive EBITDA margin growth and enhance RoE/RoCE performance.”
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