Manaksia Aluminium Q1 profit jumps 83% to ₹28.5m as material costs fall

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Manaksia Aluminium Company Limited reported a net profit of  INR 28.5 million (USD 299,000) for the quarter ended June 30, 2026, up 83 per cent from INR 15.6 million (USD 163,000)  a year earlier. Revenue from operations rose 3.9 per cent to INR 1.4 billion (USD 14.6 million) from INR 1.34 billion (USD 14 million).

Profit before tax increased to INR 39.4 million (USD 413,000) from INR 20.5 million (USD 215,000) in the corresponding quarter of the previous year. Cost of materials consumed declined to INR 1 billion (USD 10.5 million) from INR 1.13 billion (USD 12 million).

Basic earnings per share increased to INR 0.43 (USd 0.0045) from INR 0.24 (USD 0.0025) a year earlier.

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The Board of Directors approved the unaudited financial results on August 11, 2026, following a review by the Audit Committee. Statutory auditor Dangi Jain & Co. issued an unmodified review report on the financial statements prepared under Ind AS 34

The Board recommended a final dividend of Re.0.05 per equity share for FY2025-26, subject to shareholder approval at the company's 16th Annual General Meeting to be held on September 22, 2026. The record date has been fixed as September 15, 2026.

The Board also recommended the reappointment of Sunil Kumar Agrawal as Managing Director for a further three-year term from November 23, 2026, subject to shareholders' approval.

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Manaksia Aluminium said the sharp improvement in profitability was supported by lower material costs despite only modest revenue growth. However, the statutory auditor referred to pending GST assessment orders involving a demand of INR 390 million (USD 41 million) along with applicable penalties under the CGST Act, 2017. The company said it does not expect any material liability, citing favourable rulings by the Kerala and Uttarakhand High Courts.

The company also incorporated Manaksia Aluminium Inc. in Delaware and Metal Star Ceiling Panel FZE in the UAE during the quarter. Consolidated financial statements have not been prepared as the share application money for the new entities has not yet been deposited.