Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹893Cr
Rev Gr TTM
Revenue Growth TTM
-0.21%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

MAANALU
VS
| Quarter |
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Growth YoY Revenue Growth YoY% |
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Operating Profit Operating ProfitCr |
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Other Income Other IncomeCr |
Interest Expense Interest ExpenseCr |
Depreciation DepreciationCr |
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Growth YoY PAT Growth YoY% |
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| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 6.5 | 72.2 | 83.4 | 28.1 | 45.8 | -19.6 | -23.1 | 42.0 | 42.2 | 17.1 | -15.0 | -1.3 |
| 107 | 185 | 341 | 434 | 634 | 512 | 378 | 539 | 743 | 908 | 785 | 774 |
Operating Profit Operating ProfitCr |
| 3.3 | 2.7 | 2.3 | 2.9 | 2.8 | 2.4 | 6.1 | 5.7 | 8.8 | 4.7 | 3.1 | 3.3 |
Other Income Other IncomeCr | 1 | 1 | 5 | 5 | 5 | 4 | 2 | 5 | 5 | 8 | 5 | 8 |
Interest Expense Interest ExpenseCr | 3 | 4 | 6 | 6 | 6 | 5 | 4 | 5 | 5 | 4 | 3 | 6 |
Depreciation DepreciationCr | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 5 | 6 | 7 |
| 0 | 1 | 5 | 10 | 14 | 9 | 20 | 30 | 67 | 44 | 22 | 21 |
| 0 | 0 | 2 | 3 | 5 | 2 | 5 | 8 | 17 | 11 | 6 | 6 |
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| -32.5 | 114.6 | 440.4 | 96.5 | 42.9 | -17.7 | 96.0 | 48.5 | 127.4 | -34.5 | -52.6 | -1.5 |
| 0.3 | 0.3 | 0.9 | 1.4 | 1.4 | 1.4 | 3.7 | 3.8 | 6.1 | 3.4 | 1.9 | 1.9 |
| 0.1 | 0.1 | 0.6 | 1.2 | 1.7 | 1.4 | 1.4 | 4.1 | 2.3 | 6.1 | 2.9 | 2.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 3 | 3 | 3 | 7 | 7 | 7 | 7 | 14 | 14 | 27 | 27 | 27 |
| 23 | 24 | 26 | 29 | 37 | 43 | 57 | 71 | 117 | 136 | 151 | 160 |
Current Liabilities Current LiabilitiesCr | 37 | 58 | 71 | 73 | 76 | 35 | 89 | 80 | 90 | 58 | 104 | 102 |
Non Current Liabilities Non Current LiabilitiesCr | 2 | 5 | 5 | 6 | 6 | 6 | 7 | 7 | 5 | 4 | 17 | 16 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 44 | 69 | 84 | 90 | 98 | 61 | 121 | 124 | 171 | 148 | 191 | 193 |
Non Current Assets Non Current AssetsCr | 20 | 21 | 22 | 23 | 28 | 31 | 39 | 47 | 54 | 77 | 109 | 112 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 3 | -31 | -7 | 36 | -4 | 30 | -19 | 15 | 29 | 33 | 0 |
Investing Cash Flow Investing Cash FlowCr | -1 | -1 | 1 | 1 | -3 | -2 | -12 | -7 | -10 | -6 | -54 |
Financing Cash Flow Financing Cash FlowCr | -2 | 32 | 6 | -35 | 6 | -28 | 38 | -14 | -19 | -27 | 54 |
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Free Cash Flow Free Cash FlowCr | 2 | -32 | -10 | 33 | -11 | 26 | -31 | 4 | 19 | 25 | -55 |
| 1,150.0 | -5,082.6 | -226.3 | 562.2 | -47.5 | 403.3 | -131.7 | 68.7 | 58.1 | 102.2 | 1.2 |
CFO To EBITDA CFO To EBITDA% | 90.0 | -601.7 | -91.0 | 282.5 | -24.1 | 246.0 | -79.5 | 46.0 | 40.7 | 75.0 | 0.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 11 | 10 | 41 | 70 | 63 | 20 | 104 | 182 | 234 | 742 | 415 |
Price To Earnings Price To Earnings | 41.0 | 17.2 | 12.4 | 11.0 | 6.9 | 2.6 | 7.0 | 8.3 | 4.7 | 22.6 | 26.7 |
Price To Sales Price To Sales | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.0 | 0.3 | 0.3 | 0.3 | 0.8 | 0.5 |
Price To Book Price To Book | 0.4 | 0.4 | 1.4 | 2.0 | 1.5 | 0.4 | 1.6 | 2.2 | 1.8 | 4.5 | 2.3 |
| 8.4 | 12.5 | 13.2 | 8.4 | 6.3 | 3.8 | 6.8 | 7.5 | 4.0 | 17.4 | 20.1 |
Profitability Ratios Profitability Ratios |
| 15.9 | 10.4 | 8.4 | 8.9 | 7.2 | 8.8 | 15.3 | 17.4 | 22.3 | 12.3 | 11.9 |
| 3.3 | 2.7 | 2.3 | 2.9 | 2.8 | 2.4 | 6.1 | 5.7 | 8.8 | 4.7 | 3.1 |
| 0.3 | 0.3 | 0.9 | 1.4 | 1.4 | 1.4 | 3.7 | 3.8 | 6.1 | 3.4 | 1.9 |
| 6.8 | 5.8 | 11.5 | 20.8 | 21.6 | 17.1 | 17.3 | 23.1 | 38.6 | 24.4 | 9.3 |
| 1.1 | 2.2 | 11.0 | 18.2 | 21.1 | 15.1 | 23.1 | 26.1 | 38.4 | 20.1 | 8.7 |
| 0.4 | 0.7 | 3.1 | 5.7 | 7.3 | 8.2 | 9.2 | 12.8 | 22.2 | 14.6 | 5.2 |
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.
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### **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.
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### **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.
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### **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
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### **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**.
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### **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