Manaksia Coated Metals Schedules NCLT-Directed Meetings to Approve Merger with JPA Snacks

Manaksia Coated Metals & Industries Limited has issued formal notices convening meetings of its equity shareholders, unsecured creditors, and secured creditors to seek approval for a proposed Scheme of Merger with its wholly owned subsidiary, JPA Snacks Private Limited. The meetings have been called pursuant to an order dated April 24, 2026 of the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, in Company Application (CAA) No. 5/(KB)/2026, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The notice was filed with the stock exchanges on May 7, 2026 in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Schedule and Key Dates

All three meetings will be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM), with the deemed venue being the Registered Office of Manaksia Coated Metals & Industries Limited at Bikaner Building, 8/1 Lal Bazar Street, 3rd Floor, Kolkata - 700001, West Bengal, India. The key dates and timings for each meeting are summarised below:

Parameter: Shareholders Unsecured Creditors Secured Creditors Date of Meeting: 8th June, 2026 9th June, 2026 9th June, 2026 Meeting Start Time: 11.00 AM 11.00 A.M. 02.00 P.M. Cut-off Date (E-voting): 1st June, 2026 31st March, 2026 31st March, 2026 Remote E-Voting Start: 4th June, 2026, 09.00 A.M. (IST) 4th June, 2026, 09.00 A.M. (IST) 4th June, 2026, 09.00 A.M. (IST) Remote E-Voting End: 7th June, 2026, 05.00 P.M. (IST) 8th June, 2026, 05.00 P.M. (IST) 8th June, 2026, 05.00 P.M. (IST) Benpos Date for Notice: Monday, 4th May, 2026 Tuesday, 31st March, 2026 Tuesday, 31st March, 2026 Dispatch Completion Date: Thursday, 7th May, 2026 Thursday, 7th May, 2026 Thursday, 7th May, 2026

The Tribunal has appointed Advocate Parikshit Poddar as Chairperson of the meetings and Ms. Bidisha Achari (Membership No. F12442; COP No. 18198), Practicing Company Secretary, as Scrutinizer. Remote e-voting facilities are being provided through the National Securities Depository Limited (NSDL) platform at www.evoting.nsdl.com .

Scheme of Merger: Background and Rationale

The proposed Scheme of Merger involves the amalgamation of JPA Snacks Private Limited (Transferor Company) into Manaksia Coated Metals & Industries Limited (Transferee Company). JPA Snacks Private Limited was incorporated on February 1, 2017 as a private limited company and is a wholly owned subsidiary of the Transferee Company, with its registered office also situated at Bikaner Building, 8/1 Lal Bazar Street, 3rd Floor, Kolkata - 700001, West Bengal, India. The Transferee Company holds 100% of the issued, subscribed and paid-up equity share capital of the Transferor Company.

The management has stated that the amalgamation is aimed at consolidating business under a single entity and achieving a simplified corporate structure through group reorganisation. The stated benefits of the Scheme include:

Streamlining the organisation structure and achieving administrative and operational convenience

Strengthening of financial position with a wider capital base and increased leverage capacity

Enhancement of net-worth of the combined entities, leading to better ability to leverage the business and reduction in cost of capital

Consolidation of businesses into the Transferee Company, resulting in unlocking of value and creation of additional liquidity for shareholders

Greater administrative efficiency, enhanced productivity, and reduction in multiplicity of legal and regulatory compliances and fixed costs

The Appointed Date under the Scheme is defined as the opening of business on April 1, 2025, or such other date as the NCLT, Kolkata Bench may direct. The Effective Date is defined as the date of sanction of the Scheme by the NCLT, Kolkata Bench.

Share Capital and Structural Details

The share capital details of both companies as on the date of the Notice are as follows:

Share Capital: Manaksia Coated Metals & Industries Limited JPA Snacks Private Limited Authorized Share Capital: 12,50,00,000 Equity Shares of Re. 1/- each — Rs. 12,50,00,000/- 50,000 Equity Shares of Rs. 10/- each — Rs. 5,00,000/- Issued, Subscribed & Paid-up: 10,58,34,050 Equity Shares of Re. 1/- each fully paid up — Rs. 10,58,34,050/- 50,000 Equity Shares of Rs. 10/- each fully paid up — Rs. 5,00,000/-

Since the Transferor Company is a wholly owned subsidiary of the Transferee Company, no new equity shares will be issued by the Transferee Company as consideration for the amalgamation. All shares of the Transferor Company held by the Transferee Company and its nominees shall stand cancelled upon the Scheme becoming effective. Consequently, there will be no change in the shareholding pattern or capital structure of the Transferee Company pursuant to this Scheme.

Board Approvals and Compliance

The Board of Directors of the Transferee Company, at its Board Meetings held on July 22, 2025 and October 27, 2025, unanimously approved the Scheme. All seven directors — including the Managing Director, Whole-Time Directors, Independent Directors, and Non-Executive Director — voted in favour. The Board of Directors of the Transferor Company, at its Board Meeting held on October 27, 2025, also unanimously approved the Scheme, with all three directors voting in favour.

The accounting treatment proposed in the Scheme has been certified by S. Bhalotia & Associates (Firm Registration No.: 325040E), Chartered Accountants and Statutory Auditors of the Company, vide certificate dated November 14, 2025, confirming compliance with accounting standards prescribed under Section 133 of the Companies Act, 2013. A Registered Valuer's report has been obtained from Mr. Anil Kumar Dubey (IBBI Registration No. IBBI/RV/03/2019/12411), confirming that no shares will be issued by the Transferee Company to shareholders of the Transferor Company. The equity shares of Manaksia Coated Metals & Industries Limited are listed on BSE Limited and National Stock Exchange of India Ltd. The Scheme, once approved at the meetings, will be subject to subsequent sanction by the NCLT, Kolkata Bench and such other regulatory approvals as may be necessary. Relevant documents are available for inspection on the Company's website at https://www.manaksiacoatedmetals.com/ .

Manaksia Coated Metals & Industries Limited announced its audited financial results for the quarter and full year ended March 31, 2026. The Board of Directors, meeting on May 6, 2026, approved the standalone and consolidated results. The company reported a landmark financial year with revenue crossing ₹896 crore, profit after tax surging 164% year-on-year on a consolidated basis, and export volumes reaching an all-time high. The company has also published a corrigendum to these audited financial results in newspapers on May 7, 2026, under Regulation 47 of the SEBI (LODR) Regulations, 2015. Additionally, the audio recording of the investor conference call held on May 7, 2026, to discuss the financial results is now available on the company's website.

Consolidated Financial Performance

MCMIL delivered strong growth across key financial metrics for the full year. On a consolidated basis, Revenue from Operations grew 13.50% YoY to ₹896.27 crore, while EBITDA expanded 49.21% to ₹92.21 crore. Profit After Tax (PAT) surged 164% to ₹40.69 crore from ₹15.39 crore in the previous year. For the quarter, revenue from operations rose 9.00% YoY to ₹228.74 crore, though EBITDA declined 8.72% YoY to ₹15.64 crore, with the EBITDA margin contracting 133 basis points to 6.84%, reflecting temporary pressure from elevated freight, energy, and input costs.

Consolidated Financial Highlights

Particulars: Q4 FY26 Q4 FY25 YoY % FY 2025-26 FY 2024-25 YoY % Revenue from Operations (₹ Crore) 228.74 209.89 +9.00% 896.27 789.66 +13.50% EBITDA (₹ Crore) 15.64 17.13 -8.72% 92.21 61.80 +49.21% EBITDA Margin % 6.84% 8.16% -133 bps 10.29% 7.83% +246 bps Profit After Tax (₹ Crore) 5.37 5.03 +6.73% 40.69 15.39 +164% PAT Margin % 2.35% 2.40% -5 bps 4.54% 1.95% +259 bps Diluted EPS (₹) 0.66 0.68 — 4.32 2.07 +211%

Standalone Financial Highlights

On a standalone basis, the company reported a net profit of ₹4,097.15 lacs for the full year, compared to ₹1,564.33 lacs in the previous year. For the quarter, standalone net profit stood at ₹543.59 lacs. Basic EPS for the year was ₹4.18 on a standalone basis and ₹4.41 on a consolidated basis.

Particulars: Quarter Ended 31st March 2026 (₹ in Lacs) Year Ended 31st March 2026 (₹ in Lacs) Total Income 22,871.81 89,614.45 Total Expenses 22,227.28 84,211.94 Net Profit for the period 543.59 4,097.15 Basic EPS (₹) 0.56 4.18

Balance Sheet Strength & Key Ratios

MCMIL significantly strengthened its balance sheet during the year, achieving its targeted Net Debt to EBITDA ratio of close to 1x, reflecting strong cash flows and continued deleveraging. The debt-equity ratio improved to 1.13x from 1.81x in the previous year, and the interest coverage ratio rose to 2.85x from 1.63x.

Key Financial Ratio: FY 2025-26 FY 2024-25 Interest Coverage Ratio 2.85x 1.63x Current Ratio 1.75x 1.35x Debt-Equity Ratio 1.13x 1.81x Net Debt / EBITDA 1.01x 1.93x Price Realization / MT ₹82,193 / MT ₹73,622 / MT EBITDA / MT ₹8,838 / MT (+43.54% YoY) ₹6,156 / MT

Operational Highlights

FY26 was marked by strong operational momentum across MCMIL's business segments. Production of Galvanized / Alu-Zinc Steel reached 1,03,036 MT for FY26, a growth of +2.21% YoY, while Pre-Painted Steel production grew +12.78% YoY to 83,594 MT. The value-added product mix — Pre-Painted Steel as a share of total sales — rose to 80% in FY26 from 74% in FY25, reflecting the company's deliberate premiumisation strategy. On the exports front, export tonnage touched an all-time high of 66,172 MT in FY26, up 110% YoY from 31,453 MT in FY25. The share of exports as a percentage of total revenue expanded to 68.21% from 39.20% in FY25, a growth of 97% YoY.

Status of Key Strategic Projects

MCMIL continued to make progress on its expansion and sustainability initiatives during the year. The Alu-Zinc Coating Upgrade was commissioned in December 2025, increasing capacity from 1,32,000 TPA to 1,80,000 TPA, a 36% increase. The second colour coating line and a 7 MWp captive solar power plant at the Kutch facility are both targeted for commissioning in Q2 FY27.

Project: Key Details Status / Timeline Alu-Zinc Coating Upgrade Capacity increased from 1,32,000 TPA to 1,80,000 TPA (+36%); 100% Alu-Zinc capacity Commissioned: Dec 2025 2nd Colour Coating Line New capacity: 1,50,000 TPA; total colour coating capacity rises from 86,000 to 2,36,000 TPA (+174%) Commissioning: Q2 FY27 7 MWp Solar Power Plant Captive solar at Kutch facility; offsets 50–55% of grid power dependency; EPC: Prozeal Green Energy Commissioning: Q2 FY27 Salesforce CRM 360° customer visibility, centralised order tracking, automated analytics, and improved demand forecasting Implementation in Progress

Dividend Recommendation & Board Approvals

The Board of Directors recommended a final dividend of Re. 0.05 (5%) per equity share for the financial year ended March 31, 2026, against a face value of Re. 1/- per share, subject to shareholder approval at the ensuing Annual General Meeting. If approved, the dividend will be paid within 30 days from the date of declaration. In addition, the Board approved the appointment of M/s Audittech 360 Financial Services Private Limited as Internal Auditor and M/s. S. Chhaparia & Associates as Cost Auditor for FY 2026-27. The Board also approved the re-appointment of Mr. Addanki Venkata Srinarayana as Wholetime Director for three years effective May 30, 2026, and increases in remuneration for Mr. Sushil Kumar Agrawal (Managing Director), Mr. Karan Agrawal (Wholetime Director), and Mr. Tushar Agrawal (Senior Vice-President), all subject to shareholder approval.

Management Commentary

Commenting on the results, Karan Agrawal, Whole Time Director, stated: "FY26 has been a landmark year for Manaksia Coated Metals & Industries Limited, marked by record revenue and strong growth in EBITDA and profitability, driven by higher exports, improved realizations, and an increasing share of value-added products. During the year, the company successfully commercialized its Aluminium-Zinc coating technology, strengthening its position in the premium coated steel segment. Despite temporary margin pressure in Q4 FY26 arising from elevated freight, energy, and input costs amid geopolitical disruptions, demand remained healthy and profitability continued to remain resilient. The company also made significant progress on its expansion and sustainability initiatives. From a balance sheet perspective, the company achieved its targeted Net Debt to EBITDA ratio of close to 1x, reflecting strong cash flows, disciplined capital allocation, and continued deleveraging. MCMIL remains focused on its strategic pillars of premiumisation, export growth, operational efficiency, and balance sheet deleveraging."

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