Manaksia Aluminium Company Ltd Company Summary

Manaksia Aluminium Company Ltd Summary

Incorporated in 2010,Manaksia Aluminium Company Ltd is a USD 45 million company and is a part of Manaksia Group.The company is engaged in manufacturing of aluminium rolled in coils and sheet form and aluminium alloy ingots.The company has vertically integrated certain parts of operations across its product range.The product portfolio includes aluminium coils,aluminium plain sheets,aluminium roofing sheets,aluminium pre-painted / colour coated coils,aluminium flooring sheets etc.The company has a production capacity of 30000 TPA.The Honble Calcutta High Court vide its Order dated 24 March, 2014 has sanctioned the Scheme of Arrangement under the provisions of Sections 391-394 of the Companies Act, 1956 for demerger of Aluminium Undertaking of Manaksia Limited into Manaksia Aluminium Company Limited on a going Concern basis. The certified copy of the Order sanctioning the Scheme was received on 19 November, 2014 and the Company has duly filed the said Order with the Registrar of Companies, West Bengal, on 23 November, 2014. The Scheme has become effective on and from the date of filing with the Registrar of Companies. Upon the Scheme being effective, the Company had made application to National Stock Exchange of India Limited and BSE Limited for listing of its equity shares. Accordingly, the shares of the Company got listed on both the Stock Exchanges on 30 March, 2015.The Company pursuant to the Scheme of Arrangement as sanctioned by the Honble Calcutta High Court vide its Order dated 24 March, 2014 has issued and allotted to the shareholder of Manaksia Limited, one share of Re 1/- each of the Company, for every one share of Rs 2/- each held by them in Manaksia Limited.The company has its manufacturing facilities at Haldia and Bankura in the state of West Bengal.The Company has successfully established a wide market in developed Countries like USA, Europe & Middle East which is underlying reason for expanding the production capacity by installing a new Caster in its Haldia Unit.As per the directives of both the Central and State Governments in the wake of COVID-19 pandemic, the Company had suspended operations across various locations w.e.f. 23/03/2020, adversely impacting the business during the first 3 quarters of FY2021.