Manaksia Coated Metals Announces Q1 Results and Approves Key Director Re-appointments

Manaksia Coated Metals Announces Q1 Results and Approves Key Director Re-appointments​

Manaksia Coated Metals & Industries Ltd has announced significant outcomes from its Board of Directors meeting held on July 14, 2026. The company released the un-audited financial results for the first quarter ending June 30, 2026, and approved the re-appointment of two key directors while also announcing executive appointments and governance policy updates.

The Board reviewed the financial performance of the company and sanctioned several corporate actions related to future meetings and managerial structure. Key decisions included adopting a revised 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' and appointing Mr. Devansh Agrawal as Vice-President of Business Development.

Financial Performance Review​

The un-audited financial results for the quarter ending June 30, 2026, were reviewed by statutory auditors, S Bhalotia & Associates. The company's performance across standalone and consolidated entities shows the following key figures (amounts in lakhs):

Director Re-appointments and AGM Details​

The Board of Directors approved the re-appointment of Mr. Sushil Kumar Agrawal as Managing Director and Mr. Karan Agrawal as Whole-time Director for a period of three years, subject to ratification by shareholders at the ensuing Annual General Meeting (AGM).

Details regarding the appointments and profiles were provided, including:

• Mr. Sushil Kumar Agrawal was re-appointed as Managing Director for three consecutive years, effective November 23, 2026. He holds a Commerce degree and possesses extensive experience in business management, manufacturing, and factory administration.
• Mr. Karan Agrawal was re-appointed as Whole-time Director for three consecutive years, effective November 17, 2026. He is a Commerce graduate and holds a Diploma in Management from IIM Bangalore.

In addition to these appointments, the company decided that its 16th Annual General Meeting (AGM) will be held on Thursday, September 3, 2026, via Video Conferencing or other audio visual means. The cut-off date for shareholders voting via remote e-voting was set as August 27, 2026, and the record date for receiving the final dividend is also August 27, 2026.

Executive Appointment and Governance Policies​

The company also approved the appointment of Mr. Devansh Agrawal as Vice President Business Development at a remuneration of Rs. 8,00,000 per month, effective July 1, 2026. This appointment is subject to shareholder approval in the AGM.

In terms of governance, the Board adopted revised policies related to fair disclosure and inquiry concerning unpublished price sensitive information, adhering to regulations regarding Insider Trading. The company also provided detailed operational segment reporting based on a reassessment, determining that neither operating segment individually satisfies the quantitative thresholds prescribed by Ind AS 108.

MANAKCOAT Stock Price Movement​

On Tuesday, Manaksia Coated Metals & Industries Limited edged higher by 2.57% to settle at ₹129.14. The equity saw robust activity during the session, trading over 2.2 million shares as it closed near its day high of ₹130.7.