Multibagger penny stock under Rs 75 to keep under radar as company wins landmark Rs 200 Cr European Contract, signalling major global growth
The stock is up by 79 per cent from its 52-week low of Rs 39.50 per share and gave multibagger returns of over 1,800 per cent in 5 years.
In a significant breakthrough for its global ambitions, Manaksia Coated Metals & Industries Limited (MCMIL | NSE: MANAKCOAT | BSE: 539046) has secured a milestone contract worth USD 24 million (approx. Rs 200 crore) with a leading European client. The agreement includes the supply of 20,000 metric tonnes of premium pre-painted steel coils, Alu Zinc-coated steel coils, and galvanized steel products over the next 12 months. The agreement has the potential to transform into a recurring order, providing a steady pipeline of revenue for MCMIL over the coming years. This will also allow the company to fully utilise the additional capacity expected from its Continuous Galvanizing Line (CGL) upgrades, scheduled to be completed in Q4FY25, further enhancing MCMIL’s production capabilities and global competitiveness.
Key Strategic Insights:
- Advancing European Market Leadership: MCMIL is cementing its foothold in Europe’s highly competitive market, reinforcing its position as a preferred supplier to top-tier clients
- Amplifying Export Growth: MCMIL is already an established exporter of coated steel products. The deal is set to boost MCMIL’s export revenue substantially, accelerating the company's strategic shift towards international markets and diversifying revenue streams.
- Elevating Global Competitive Edge: The company’s ongoing investment in cutting-edge production technology and capacity expansion sets MCMIL apart in a dynamic global steel industry, especially with the upcoming Continuous Galvanizing Line (CGL) upgrades to Alu Zinc Coated Steel manufacturing.
- Unlocking Long-term Opportunities: This contract lays the foundation for recurring business with high-value European clients, setting the stage for MCMIL to become a key player in the region's steel supply chain.
- Capitalising on Industry Demand: MCMIL is well-positioned to meet the rising demand for high-quality coated steel products in Europe, driven by industry shifts toward durable, corrosion-resistant materials.
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About Manaksia Coated Metals & Industries Limited
Manaksia Coated Metals & Industries Limited (MCMIL) is a leading manufacturer and exporter of high-quality coated metal products, including Pre-painted Galvanised Steel and Plain Galvanised Steel in coil and sheet forms. These products are widely used across the construction, automotive, appliances, and general engineering industries. Operating from its state-of-the-art facility in Kutch, Gujarat, MCMIL is strategically positioned near key ports, ensuring efficient logistics for both domestic and international markets.
The company has a market cap of over Rs 500 crore. The stock is up by 79 per cent from its 52-week low of Rs 39.50 per share and gave multibagger returns of over 1,800 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.