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Manaksia Aluminium eyes INR 40-crore capex

Metal News - Published on Fri, 12 Jan 2018

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Business Line reported that Manaksia Aluminium Company, part of the Kolkata based Manaksia Group, is planning a capex of INR 40 crore for a 15-20 % capacity addition over the next one year. Manaksia Aluminium is mostly into value added end products such as colour coated roofing and panelling that are used in automobiles, air conditioning, warehousing and vans, among others.

According to Mr Sunil Agrawal, Managing Director, the company is eyeing a total capacity of 21,000 tonnes per annum of aluminium at its Haldia unit in West Bengal against the existing capacity of 18,000 tonnes per annum.

The Haldia unit is already operating at 80-85 % capacity.

Mr Agrawal told that “We will look at both internal accruals and loans to fund the capex. Capacity addition would come mostly from debottlenecking at Haldia.” BusinessLine on the sidelines of a logistics conclave, organised by the Bengal Chamber of Commerce and Industry.

The company has a second unit at Bankura in West Bengal that manufactures aluminium alloys, used mostly for making auto components.
Better margins

After de bottlenecking at the Haldia unit, the company would also look at opting for higher margin and value added products such as special alloys that find usage in marine applications, shipping boats and refrigeration.

Compared to the regular offerings that have a margin of 7-8 %, the new offerings would have margins between 12 and 15 %.

Accordingly, Mr Agrawal is hopeful of increased demand and rising prices, to help Manaksia Aluminium post a healthy profit and a 15 % growth in top-line this fiscal to INR 300 crore.

The company had reported a loss of INR 4.61 crore in FY17. However, in the first six months of this fiscal (April-September period), it posted a net profit of INR 1.56 crore and a turnover of INR 130 crore.

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Posted By : Nanda Koijam on Fri, 12 Jan 2018
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