Manaksia Coated plans Rs 175 crore capex by 2020

"We are undergoing a major expansion. In two phases, the investment will be around Rs 175 crore. The first phase of expansion is near completion and the trial run is expected to take place by next month," Manaksia Coated Director Sunil Kumar Agrawal told PTI.

"This will increase our colour coating capacity to around 90,000 tonne per annum from 40,000 tonne. We have gone for backward integration by foraying into galvanised coils," he said.

The second phase of the expansion will be completed by early 2020 in which one lakh tonne of additional capacity per annum will be added, he said.

The backward integration project will help the company to improve its margin as earlier galvanised products were sourced, Managing Director Sushil Kumar Agrawal said.

The investment in this phase is estimated at Rs 125 crore, company officials said.

The company expects to double the revenue in FY19' from FY18' level with the backward integration and capacity ramp up.

In the nine months of FY18' ending December 17, the consolidated revenue was Rs 193 crore.