MANAKCOATManaksia Coated Metals & Industries Ltd.
Manaksia Coated Metals gets ACUITE A rating reaffirmed, ₹725 crore facilities
- Credit rating
- Steel coated metals
Reviewed byKeshav SehgalBlacklitt Research
Manaksia Coated Metals & Industries (NSE: MANAKCOAT) has had its bank loan facilities of ₹725 crore rated by ACUITE Ratings & Research, which affirmed a long term rating of ACUITE A with Stable outlook and a short term rating of ACUITE A1, it said in a filing on 03 Nov 2026. The letter expires on 30 Dec 2026.
Key highlights
- Total bank loan facilities rated: ₹725 crore
- Long term ACUITE A, Stable: ₹375 crore (₹45 crore assigned, ₹330 crore reaffirmed)
- Short term ACUITE A1: ₹350 crore (₹105 crore assigned, ₹245 crore reaffirmed)
- Rating letter issued 02 Nov 2026, expires 30 Dec 2026
The rating action in numbers
| Item | Detail |
|---|---|
| Rating agency | ACUITE Ratings & Research Limited |
| Total rated | ₹725 crore bank loan facilities |
| Long term | ACUITE A, Stable outlook: ₹45 crore assigned, ₹330 crore reaffirmed |
| Short term | ACUITE A1: ₹105 crore assigned, ₹245 crore reaffirmed |
| Letter issued | 02 Nov 2026 |
| Letter expires | 30 Dec 2026, or earlier on the next rating action |
| Lenders | HDFC Bank, Union Bank of India, Exim Bank, Indian Bank, Kotak Mahindra Bank, Bank of Baroda, ICICI Bank |
What the rating covers
ACUITE rated bank loan facilities of ₹725 crore, according to the company's intimation. Of this, ₹375 crore carries the long term rating ACUITE A with Stable outlook, made up of ₹45 crore assigned and ₹330 crore reaffirmed. The remaining ₹350 crore carries the short term rating ACUITE A1, made up of ₹105 crore assigned and ₹245 crore reaffirmed.
The facilities are with lenders including HDFC Bank, Union Bank of India, Exim Bank, Indian Bank, Kotak Mahindra Bank, Bank of Baroda and ICICI Bank. All are unlisted and regulated by RBI, according to the rating letter.
Letter validity and the next steps
The rating letter expires on 30 Dec 2026, or earlier if ACUITE takes the next rating action. ACUITE says it will re-issue the letter on 31 Dec 2026, subject to receipt of its surveillance fee. The letter says the rating is subject to change at any time.
The letter also requires the company to furnish a No Default Statement to ACUITE on the first working day of every month, once a rating is accepted and outstanding.
Context from recent filings
The company's latest reported quarter, Q2 FY27, showed consolidated total income of ₹321.55 crore, up 43.8% year on year, and net profit of ₹18.73 crore, up 34.2%. The company's market value was ₹1,580 crore at the 02 Nov 2026 close of ₹148.17 a share. This filing is the latest in a short run of filings, which includes two earnings disclosures on 28 Oct 2026.
What the rating means for Manaksia Coated Metals' shareholders
The filing confirms the rating status of the company's bank facilities, with ₹105 crore of short term facilities newly assigned. The reason for the affirmation or assignment is not stated, and neither are the company's plans for the rated facilities or new borrowings. It is also not stated whether the rating will change after the letter expires.
The next dated step is the re-issue of the rating letter on 31 Dec 2026, subject to the surveillance fee.
Filed with NSE on . Reference: Original filing (PDF)
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