Maan Aluminium Limited has released the transcript of their Analyst/Investor Call held on June 1, 2026, to discuss the Q4 FY26 and Full Year FY26 earnings. The company highlighted that FY26 was a year of strategic transformation, moving from a traditional extrusion player to a higher value-added aluminium converter. Revenue from operations remained stable at ₹809 crore in FY26 compared to ₹810 crore in FY25, supported by domestic business growth. EBITDA increased by 3% to ₹31 crore due to better operational controls and cost optimization. However, Profit Before Tax (PBT) decreased by 18% to ₹18 crore and Profit After Tax (PAT) reduced by 19% to ₹13 crore, primarily due to increased raw material prices, lower export contribution, and higher operating costs related to the oil and energy crisis, compounded by government restrictions on gas supply. The company's net worth significantly increased by 54% to ₹274 crore, largely driven by a preferential capital raise of ₹83 crore. Maan Aluminium commissioned a new Italian extrusion press at Pithampur, increasing extrusion capacity to 24,000 tons per annum from 10,000 tons. They also acquired and refurbished the Dewas facility for future tubing and downstream value-added business. Despite these investments, the commercial ramp-up has been slower than anticipated due to customer qualification cycles, project approvals, and slower industrial demand. Management's focus going forward is on increasing capacity utilization, expanding value-added offerings (fabrication, anodizing, powder coating, tubing), improving EBITDA per kg, strengthening customer relationships, and maintaining financial discipline. The company anticipates a flat year for FY27 in terms of volume growth, with significant ramp-up expected over the next three years. Planned capex for FY27 is ₹40-50 crore and for FY28 is ₹35-40 crore.
