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Maan Aluminium Ltd

MAANALU
NSE
148.90
1.67%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Maan Aluminium Ltd

MAANALU
NSE
148.90
1.67%
29 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
893Cr
Close
Close Price
148.90
Industry
Industry
Aluminium Products
PE
Price To Earnings
52.80
PS
Price To Sales
1.12
Revenue
Revenue
800Cr
Rev Gr TTM
Revenue Growth TTM
-0.21%
PAT Gr TTM
PAT Growth TTM
-18.99%
Peer Comparison
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MAANALU
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
Quarter
Revenue
RevenueCr
Growth YoY
Revenue Growth YoY%
Expenses
ExpensesCr
Operating Profit
Operating ProfitCr
OPM
OPM%
Other Income
Other IncomeCr
Interest Expense
Interest ExpenseCr
Depreciation
DepreciationCr
PBT
PBTCr
Tax
TaxCr
PAT
PATCr
Growth YoY
PAT Growth YoY%
NPM
NPM%
EPS
EPS

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
111190349447652524403572814953810800
Growth
Revenue Growth%
6.572.283.428.145.8-19.6-23.142.042.217.1-15.0-1.3
Expenses
ExpensesCr
107185341434634512378539743908785774
Operating Profit
Operating ProfitCr
458131812253371452526
OPM
OPM%
3.32.72.32.92.82.46.15.78.84.73.13.3
Other Income
Other IncomeCr
115554255858
Interest Expense
Interest ExpenseCr
346665455436
Depreciation
DepreciationCr
112222334567
PBT
PBTCr
01510149203067442221
Tax
TaxCr
00235258171166
PAT
PATCr
013698152250331615
Growth
PAT Growth%
-32.5114.6440.496.542.9-17.796.048.5127.4-34.5-52.6-1.5
NPM
NPM%
0.30.30.91.41.41.43.73.86.13.41.91.9
EPS
EPS
0.10.10.61.21.71.41.44.12.36.12.92.8

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
33377771414272727
Reserves
ReservesCr
2324262937435771117136151160
Current Liabilities
Current LiabilitiesCr
37587173763589809058104102
Non Current Liabilities
Non Current LiabilitiesCr
25566677541716
Total Liabilities
Total LiabilitiesCr
659010611312692160171225225300305
Current Assets
Current AssetsCr
446984909861121124171148191193
Non Current Assets
Non Current AssetsCr
20212223283139475477109112
Total Assets
Total AssetsCr
659010611312692160171225225300305

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
3-31-736-430-191529330
Investing Cash Flow
Investing Cash FlowCr
-1-111-3-2-12-7-10-6-54
Financing Cash Flow
Financing Cash FlowCr
-2326-356-2838-14-19-2754
Net Cash Flow
Net Cash FlowCr
0102-106-6000
Free Cash Flow
Free Cash FlowCr
2-32-1033-1126-3141925-55
CFO To PAT
CFO To PAT%
1,150.0-5,082.6-226.3562.2-47.5403.3-131.768.758.1102.21.2
CFO To EBITDA
CFO To EBITDA%
90.0-601.7-91.0282.5-24.1246.0-79.546.040.775.00.8

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
111041706320104182234742415
Price To Earnings
Price To Earnings
41.017.212.411.06.92.67.08.34.722.626.7
Price To Sales
Price To Sales
0.10.10.10.20.10.00.30.30.30.80.5
Price To Book
Price To Book
0.40.41.42.01.50.41.62.21.84.52.3
EV To EBITDA
EV To EBITDA
8.412.513.28.46.33.86.87.54.017.420.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
15.910.48.48.97.28.815.317.422.312.311.9
OPM
OPM%
3.32.72.32.92.82.46.15.78.84.73.1
NPM
NPM%
0.30.30.91.41.41.43.73.86.13.41.9
ROCE
ROCE%
6.85.811.520.821.617.117.323.138.624.49.3
ROE
ROE%
1.12.211.018.221.115.123.126.138.420.18.7
ROA
ROA%
0.40.73.15.77.38.29.212.822.214.65.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Maan Aluminium Ltd. is one of India’s leading manufacturers and exporters of aluminium extrusion products, with over **35 years of industry experience**. The company has evolved from a traditional aluminium extrusion player into a **technology-driven, high-value-add manufacturer**, strategically positioning itself in niche, precision-engineered markets. It operates across two core verticals: **manufacturing of aluminium extrusion products** and **trading & distribution of primary aluminium** (billets, ingots, and wire rods). With a strong focus on **customization, quality, and innovation**, Maan Aluminium serves high-margin, low-volume segments across **automotive, aerospace, defence, railways, solar, and electric vehicles (EVs)**. The company is actively expanding its downstream value-added capabilities to meet the growing demand for engineered aluminium solutions in advanced applications. --- ### **Operational Scale & Capacity (Nov 2025 Summary)** - **Foundry**: 12,000 TPA (with in-house billet casting using Hot Top Casting technology) - **Extrusion**: 24,000 TPA (up from 10,000 TPA in FY2023–24 — **140% capacity expansion**) - Four hydraulic presses: 900T, 1200T, 1450T, and **new 3000T Italian-made press (7–9 inch billets)** enabling entry into aerospace, defence, and EV sectors - **Anodizing**: 3,600 TPA (Class-1 finish up to 22 microns) - **Machining**: 1,400 TPA (precision CNC machines for complex components) - **Tooling Capacity**: ~150 dies/toolings per month The company operates a **fully integrated facility** at Pithampur, Madhya Pradesh (25,545 sq. m), with capabilities spanning **casting, extrusion, surface treatment, and machining under one roof**. It also houses an advanced tool room with CNC equipment to support rapid prototyping and custom engineering. --- ### **Manufacturing Footprint & Expansion (2024–2025)** 1. **Pithampur Unit I** – Fully operational, state-of-the-art facility. 2. **Pithampur Unit II** – Land acquired (8,500 sq. m), planned for future development. 3. **Dewas Unit III (Madhya Pradesh)** – Acquired via slump sale in **March 2025** for ₹8.75 crores (plus duties), covering **13,117 sq. m** of leasehold land with existing infrastructure. The **Dewas unit** is a strategic milestone: - Being redeveloped as a **precision manufacturing hub** focused on **import-substituting high-value aluminium tubing**. - First facility of its kind in India—**aims to secure a 3-year first-mover advantage**. - Projected **total CAPEX: ₹71 crores**, with ₹21 crores spent by FY26 and ₹25 crores each in FY27 and FY28. - **Trial production expected in H2 FY26**, enabling entry into high-growth industrial and automotive precision tubing markets. --- ### **Growth Strategy & Market Positioning** Maan Aluminium has shifted its capital strategy to prioritise **equity fundraising**, enabling **debt-light, asset-heavy expansion** and faster scale-up. It is transitioning from a commodity manufacturer to a **niche OEM partner**, focusing exclusively on: - High-end automotive and EV battery frames - Aero bridges and aerospace components (fire-resistant, high-strength alloys) - Solar mounting structures and energy-efficient building systems - Defence and railway applications (prototypes already under trial) The company leverages key differentiators: - **In-house foundry** for **custom alloy development** (including 2xx.x copper-based and 7xx.x high-strength zinc alloys) - **Precision engineering** with microprocessor-based PLC control systems - **Integrated supply chain** from billet casting to finished machined products --- ### **Customer & Market Reach** - **>300 active B2B clients** across 6+ countries including USA, UK, Europe, Israel, Australia - **60% of manufacturing revenue from exports**, particularly in hardware (58%), solar (34%), and defence - Key clientele in **automotive, mobility, and railway sectors**; marquee OEM relationships indicate strong market trust - Despite anti-dumping duties impacting margins in recent periods, **customer retention remains strong**, with increasing traction in "Make in India" initiatives The company is actively **expanding its market share in North America and Europe**, capitalizing on demand for **lightweight, recyclable, and sustainable aluminium components**. --- ### **Recent Investments & Technology Upgrades** - **₹34 crores invested** in new Italian extrusion line at Pithampur (commissioned March 2025) - Added a **3000T hydraulic press** enabling production of large, complex profiles for EVs, solar, and defence - **Advanced R&D infrastructure** to support development of high-strength, lightweight alloys - **Solar energy accounts for 25% of total power consumption**, aligning with sustainability goals