India's Manaksia Steel Limited (MSL) has firmed up an investment to the tune of $84 million to ramp up the capacity of cold rolled and color coated steel products at its mill located in the eastern port town of Haldia in West Bengal, a company statement said on Friday, August 14.
The expansion project will be undertaken in two phases. In the first phase, MSL will add 95,000 mt per year of capacity cold rolled, 31,000 mt per year of coated steel capacity and 90,000 mt of color coated steel product capacity. This would lead to the company having aggregate capacities of 175,000 mt, 175,200 mt and 150,000 mt per year, respectively. The first phase is scheduled for completion by 2029-30.
In the second phase, MSL will add another 100,000 mt per year capacity for production of cold rolled, another 100,000 mt of coated steel capacity and a further 90,000 mt of color coated steel capacity. This phase will be completed by the fiscal year 2033-34, the company said.
Meanwhile, in a separate regulatory filing, MSL reported a consolidated net profit of INR 2.26 billion ($23.74 million) in the first quarter (April-June) of the fiscal year 2026-26, a rise of 249 percent year on year. The company achieved total revenue of INR 32.75 billion ($343.26 million) in the given quarter, up 51 percent year on year, amid robust demand for value-added steel products, it said.
