News ArticleManaksia Coated Metals Reports ₹1,878.78 Lakh Net Profit in Q2 FY 2026-27 and Approves ₹2,500 Crore Borrowing Limit Increase
Board also approves changing stock ticker to MCMIL and remuneration ceiling revisions, pending shareholder postal ballot approvals
Manaksia Coated Metals & Industries Limited announced its unaudited financial results for the quarter ended September 30, 2026, reporting a net profit of ₹1,878.78 lakh. The board also approved raising the borrowing ceiling to ₹2,500 crore, subject to shareholder approval via postal ballot and decided to change its stock ticker from MANAKCOAT to MCMIL.
Manaksia Coated Metals & Industries Limited
Financial Results
Manaksia Coated Metals & Industries Limited announced its unaudited financial results for the quarter ended September 30, 2026, reporting a net profit of ₹1,878.78 lakh. The company's board approved raising the borrowing limit to ₹2,500 crore and decided to change its stock ticker symbol from MANAKCOAT to MCMIL, subject to regulatory and shareholder approval.
The unaudited financial results for Q2 FY 2026-27 show total income of ₹32,152.10 lakh and total expenses of ₹29,696.25 lakh, resulting in a profit before tax of ₹2,515.85 lakh and a net profit after tax of ₹1,878.78 lakh.
The board meeting held on October 28, 2026, also approved increasing the borrowing ceiling under Sections 180(1)(a) and 180(1)(c) of the Companies Act, 2013, from ₹1,000 crore to ₹2,500 crore. This change is subject to shareholder approval via postal ballot.
Additionally, the company approved changing its NSE and BSE stock ticker from MANAKCOAT to MCMIL without affecting ISIN or shareholder rights, pending exchange approvals.
The remuneration ceiling for key executives, including the Managing Director and Whole-time Director, was set to a maximum of 5% of the company's net profits, subject to performance evaluation and shareholder approval.
The Board also sanctioned the issuance of a postal ballot notice to obtain shareholder approvals for the above resolutions.
Highlights
- Net profit for Q2 FY 2026-27: ₹1,878.78 lakh
- Total income for Q2 FY 2026-27: ₹32,152.10 lakh
- Board approved increase of borrowing limit to ₹2,500 crore
- Stock ticker change from MANAKCOAT to MCMIL approved
- Remuneration ceiling set at 5% of net profits for select executives
- Shareholder approvals to be sought via postal ballot
Key Data Snapshot
What happened
- Manaksia Coated Metals announced its unaudited financial results for Q2 FY 2026-27, reporting a net profit of ₹1,878.78 lakh.
- The Board approved increasing the borrowing limit ceiling to ₹2,500 crore from ₹1,000 crore, subject to approval via postal ballot of shareholders.
- The company decided to change its NSE and BSE stock ticker symbol from MANAKCOAT to MCMIL, without impacting ISIN or shareholder rights.
- The remuneration ceiling for key executives was fixed up to 5% of net profits, to be evaluated based on performance.
- A postal ballot process was approved to obtain shareholder sanction for the borrowing limit increase, remuneration ceiling, and ticker change.
Financial performance
- Total income for the quarter was reported at ₹32,152.10 lakh, with total expenses at ₹29,696.25 lakh.
- Profit before tax for the quarter was ₹2,515.85 lakh, and net profit after tax was ₹1,878.78 lakh.
- Basic earnings per share were ₹1.76 for the quarter ended September 30, 2026.
Regulatory and governance context
- The borrowing limit increase is proposed under Sections 180(1)(a) and 180(1)(c) of the Companies Act, 2013, requiring shareholder approval.
- The ticker symbol change will maintain the existing ISIN and shareholder rights and awaits regulatory approvals from NSE and BSE.
- Remuneration ceilings are subject to compliance with the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.
Highlights
- Net profit for Q2 FY 2026-27: ₹1,878.78 lakh
- Total income for Q2 FY 2026-27: ₹32,152.10 lakh
- Board approved increase of borrowing limit to ₹2,500 crore
- Stock ticker change from MANAKCOAT to MCMIL approved
- Remuneration ceiling set at 5% of net profits for select executives
- Shareholder approvals to be sought via postal ballot
Disclosures
- Companies Act, 2013 Sections 180(1)(a) and 180(1)(c)
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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