Manaksia Coated Metals Q1 FY27: PAT up 163%, EBITDA 86%

Key takeaway from the Q1 FY27 update

Manaksia Coated Metals & Industries Ltd reported a sharp sequential improvement in its Q1 FY27 consolidated performance, led by stronger operating profitability and higher per-ton realisations. Consolidated revenue was reported at around ₹263 crore for the quarter ended June 30, 2026. EBITDA rose to ₹29.08 crore, and profit after tax (PAT) climbed to ₹14.10 crore. The company also highlighted record EBITDA per tonne at ₹10,400, alongside a notable step-up in margins. Despite the strong quarter-on-quarter numbers, the stock reacted negatively on July 15, 2026, with the share price down 6.57% to ₹120.66.

Board approval and reporting timeline

The company’s Board of Directors approved the unaudited standalone and consolidated financial results for Q1 FY27 at a meeting held on July 14, 2026. A day later, on July 15, 2026, Manaksia Coated Metals shared its quarterly performance and outlook in an earnings conference call. The dates matter because the market reaction came immediately after the results and call-related commentary entered the public domain. The company’s disclosures focused heavily on sequential performance, margin recovery, and per-ton metrics.

Revenue growth: strong QoQ, modest YoY

For Q1 FY27, consolidated revenue was stated at ₹263 crore, with other reported figures including ₹263.07 crore and ₹262.14 crore. The company said revenue rose 15% quarter-on-quarter (QoQ) and about 3.6% year-on-year (YoY). This split between strong QoQ and softer YoY growth is central to how the quarter was interpreted. Investors appeared to weigh the sequential rebound against the relatively muted annual growth profile. Revenue expansion was also discussed in the context of improved pricing and a higher value product mix.

Operating performance: EBITDA jumps and margins expand

EBITDA for Q1 FY27 was reported at ₹29.08 crore, an 86% QoQ increase. The EBITDA margin improved by 422 basis points to 11.06%, indicating that profitability rose much faster than revenue. The company described the quarter as a record operating performance, supported by improved efficiency and stronger realisations. Alongside EBITDA growth, the reported operating performance included a record EBITDA per tonne of ₹10,400, which the company flagged as a high-water mark.

Profitability: PAT up 163% QoQ, EPS more than doubles

PAT for Q1 FY27 rose 163% QoQ to ₹14.10 crore, with one reference also stating net profit at ₹14.07 crore. The company also cited that PAT margin expanded by 301 basis points to 5.36%. Earnings per share (EPS) increased 102% QoQ to ₹1.31, with a separate reference indicating diluted EPS of ₹1.32 from ₹0.65. In the conference call transcript excerpts, profit before tax (PBT) was stated at ₹18.93 crore, up 197% QoQ.

Realisations and product mix: per-ton pricing improves

Management commentary emphasised better pricing and mix as key drivers. Price realisation per tonne was stated at ₹88,597 in Q1 FY27, up from ₹79,180 per tonne in the previous quarter, an increase described as nearly 12%. The company attributed the improvement partly to a mix shift toward more pre-painted products and partly to better pricing on new orders. These details are relevant because they connect margin expansion to operating levers rather than only volume growth.

Finance costs fall YoY; cash profit rises sequentially

Finance costs were reported at ₹6.86 crore, down 11.8% year-on-year. The conference call excerpt also cited cash profit (PAT plus depreciation) at ₹17.40 crore, up 115% QoQ. This cash profit metric was highlighted as a sign of improved cash generation alongside accounting profitability. The combination of lower finance costs and higher operating profit supported the sharp sequential rise in bottom-line results.

Stock reaction: shares fall despite strong sequential results

Manaksia Coated Metals’ share price fell 6.57% on July 15, 2026, closing at ₹120.66, despite the strong QoQ jump in profit. The reported market narrative was that investors focused on more muted year-on-year growth, even as sequential performance accelerated sharply. This is a common pattern around quarterly results where the quality of growth and the base effect matter as much as the headline percentage changes.

Key numbers at a glance

Per-ton indicators highlighted by management

Why these results matter for investors tracking the stock

The quarter featured a clear pattern: revenue grew at a steady pace, while profitability surged due to better realisations and margin recovery. A 422 bps improvement in EBITDA margin to 11.06% is a large sequential move, and it explains most of the 86% rise in EBITDA and 163% rise in PAT. At the same time, the company’s own disclosures show that YoY revenue growth was only about 3.6%, and net profit was described as only marginally higher year-on-year versus roughly ₹14 crore in the same quarter last year. That mix of strong sequential recovery and modest annual growth helps explain why the stock could decline even after headline profit growth.

Conclusion

Manaksia Coated Metals’ Q1 FY27 results showed consolidated revenue of about ₹263 crore, EBITDA of ₹29.08 crore, and PAT of ₹14.10 crore, supported by higher per-ton realisations and a sharp margin expansion. The Board approved the results on July 14, 2026, and the company discussed performance in its July 15, 2026 earnings call, the same day the stock fell 6.57% to ₹120.66. The next set of updates investors will track will be subsequent quarterly disclosures to see whether the improved realisations and margin profile sustain beyond this quarter.