Manaksia Coated Metals & Industries Limited (MCMIL) has achieved a significant milestone by securing a contract worth USD 24 million (around ₹200 crore) with a leading European client. The contract entails 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. This agreement has the potential to become a recurring order, providing steady revenue for MCMIL and supporting the company’s long-term growth.
The contract is expected to fully utilise MCMIL’s additional capacity from its upcoming Continuous Galvanizing Line (CGL) upgrades, scheduled to complete in Q4 of FY2025. This upgrade will enhance production capabilities and strengthen MCMIL’s position in the global steel market.
Key Strategic Insights
- Strengthening European Market Presence: The deal solidifies MCMIL’s position as a preferred supplier in Europe, marking a key step in advancing its market leadership in the competitive European steel sector.
- Boost in Export Revenue: With this contract, MCMIL expects a significant rise in export revenue, aligning with its strategy to diversify revenue streams and enhance its focus on international markets.
- Elevating Global Competitiveness: Investments in advanced technology and capacity expansion, including the CGL upgrades for Alu Zinc coated steel, are setting MCMIL apart in the steel industry.
- Laying the Groundwork for Recurring Business: The agreement opens doors for long-term business opportunities with high-value European clients, positioning MCMIL as a key player in the region’s steel supply chain.
- Meeting Industry Demand: MCMIL is well-placed to cater to the growing demand for high-quality coated steel products in Europe, driven by the industry’s shift toward durable, corrosion-resistant materials.
Mr. Karan Agrawal, Whole Time Director at MCMIL, expressed his excitement, stating, “This contract marks a pivotal moment in MCMIL’s journey toward expanding its global footprint, particularly in the competitive European market. We are honored to have earned the confidence of a leading European client. The deal emphasizes our commitment to delivering world-class quality and reliability and comes at a time when we are focused on global expansion. We are confident that increasing export orders, combined with a shift toward higher-margin products, will drive EBITDA margin growth and enhance RoE/RoCE performance.”
As MCMIL continues its global expansion strategy, this landmark contract sets a positive tone for sustained growth in key international markets, driven by its reputation for product quality, timely delivery, and client satisfaction.
