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Manaksia Limited
Sector:Others Others - Miscella - Others
Market Lot: 1Face Value: 2ISIN Demat: INE015D01022
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Business Profile
Manaksia (MANAKSIA), incorporated on Dec. 27, 1984, is a multi-division and multi-location conglomerate specializing in the manufacture of fast-moving consumer goods, packaging, metal, and other products. Earlier known as Hindusthan Seals, it got its present name on Dec. 4, 2003. The company is part of the Manaksia Group, which also includes Arena Machineries, Manaksia Steels, and Manaksia Exports.

The ISO 9001:2000 certified company manufactures packaging products like crowns, roll-on pilfer-proof (ROPP) closures, expanded polyethylene liners, ROPP and plastic caps, push-open and other metal containers; metal products like aluminum alloy ingots, rolled sheets/coils, galvanized steel sheets/coils, sponge Iron and color-coated metal sheets; and mosquito coils for reputable brands. Using forward and backward integration initiatives, it manufactures aluminum rolled products, machines and tools for in-house use, adhesives and lacquers used in the printing of metal sheets for caps and crowns, and corrugated boxes.

The company has 15 manufacturing units in India, two in Nigeria, and one in Ghana with total annual installed capacities of 32,239,581 crown closures; over 1.7 billion caps; 59.6 million metal containers; 24,600 MT printed sheets; 43,900 MT aluminum products; 985 MT lacquers, adhesives, printing material, etc; 750 million cap liners; 291 MT expanded polythene sheets; 588 million plastic closures; 2,988.064 million mosquito coils; 2.3 million corrugated boxes; 30,000 MT steel products; 10.22 MT tin sheets, and 2,682 units of gold.

Subsidiaries of the company include MINL in Nigeria, Dynatech Industries Ghana and Euroasian Ventures FZE in Dubai. Sales and service offices are located in Mumbai, New Delhi, Chennai and Bangalore. The company`s clientele includes Shree Shankar Steel, SSS Lohia Marketing, Barthony Enterprises Nigeria, De-chico Investments, Aisin Seiki Company (Japan), Isan-Metal GmbH (Germany), Dabur, Reckitt Benckiser India and Jyothy Laboratories to name a few.

The registered office is located at 8/1 Lal Bazaar Street, 3rd floor, Kolkata-700001.

The company announced fall of 60.26% in consolidated net profit on y-o-y basis to Rs 116.53 million, while total income fell 10.27% y-o-y basis to Rs 3.04 billion for the quarter ended December 2010.

Recent Developments
With reference to the earlier announcement dated June 15, 2010 regarding `suspension of work` at the company`s Mosquito Manufacturing Unit located in Assam, Manaksia has now informed

Manaksia announced that it has declared suspension of work at its mosquito coil manufacturing unit located in Assam with effect from May 16, 2010 till further notice, as some

Sunidhi Securities has recommended `Buy` on Manaksia with a price target of Rs 140 as against the market price (CMP) of Rs 110 in its report dated Jun. 08, 2010.

Manaksia today said that their FY`09 sales target at Rs 13 billion is achievable. The reason for the same for that the prices of the raw material have down considerable.

Manaksia today announced that the suspension of work at the Bhopal unit has been withdrawn and the unit has started functioning normally with effect from Oct. 23, 2009. The company had earlier informed regarding suspension of work at the Bhopal PP cap manufacturing unit on May. 9, 2009.

Future Plans
The company will set up a new project for the manufacture steel long products in Georgia, CIS at a total investment of USD 35 million.

In Brief

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