Manaksia Coated Metals & Industries Ltd (NSE: MANAKCOAT) Q4 2025 Earnings Call dated May. 15, 2025
Corporate Participants:
Unidentified Speaker
Ms. Chani — NA
Mitra Khan — NA
Analysts:
Unidentified Participant
Agastya Dawe — Analyst
Akash Kumar — Analyst
Priya Jain — Analyst
Dhanraj Solani — Analyst
Manish Sethi — Analyst
Samira Mitha — Analyst
Ashwini Agrawal — Analyst
Presentation:
Dhanraj Solani — Analyst
Sam. Foreign. Ladies and gentlemen, you are connected to the Manaksiya Coated Metals and Industries Limited conference call. Please stay connected. The call will begin shortly. Ladies and gentlemen, you are connected in the Manaksia Coated Metals and Industries Limited conference call. Please stay connected. The call will begin shortly. Foreign. Ladies and gentlemen, you are connected to the Manaksia Coated Metals and Industries Limited conference call. Please stay connected. The call will begin shortly. Ladies and gentlemen, you are connected to the Manaksi Upcoated Metals and Industries Limited conference call. Please stay connected. The call will begin shortly. Foreign. Ladies and gentlemen, good day and welcome to the Q4, FY25 and FY25 earnings conference call of Manaksia Coated Metals and Industries Limited. As a reminder, all participant lines will be in the listen only mode. And there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchstone phone. I now hand the conference over to Ms. Chani from Kiran Advisors Private Limited. Thank you. And over to you, ma’ am.
Ms. Chani — NA
Thank you, Pooja. Thank you. On behalf of Kiran Advisors, I welcome you all to the conference call of Manaksha Coated Metals and Industries Limited. From management team we have Mr. Karan Agarwal, full time director and Mr. Tushar Agarwal, senior Vice President. Now I hand over the call to Mitra Khan. Over to you, sir.
Mitra Khan — NA
Good afternoon, ladies and gentlemen. It is my pleasure to welcome you to the earnings call of Manaksia Coated Metals and Industries Limited. Where we will be discussing the financial and operational performance for the fourth quarter and the full year of FY25. Financial year 2025 has been a year of steady progress and strategic execution as we have continued to strengthen our position while laying the groundwork for sustainable growth. We have been steadily building our presence in the value added steel segment focusing on galvanized and pre painted steel sheets and coils. Our advanced facility in Kutch, Gujarat enables us to serve a wide range of industries such as construction, automotive appliances and general engineering.
This year we have delivered strong results. Our galvanized steel production rose by approximately 21% year on year while color coated steel volumes saw a 22% growth. This growth was supported by improved capacity utilization, a favorable product mix and continued momentum in both domestic and international markets. Our export business remained resilient contributing 39.2% of our total sales while the domestic market accounted for the remaining 60.8%. We have also made considerable progress in improving plant efficiency and service levels supported by stable raw material supply agreements. Turning to our financial performance, Manasseh Coated Metals and Industries reported a consolidated total income of rupees 789.66 crores in FY25 reflecting a 5.83% year on year growth.
Our EBITDA increased by 10.79% to rupees 63 crore driven by better operating leverage and product mix optimization. Net profit stood at rupees 15.39 crore registering a 36.97% growth. EPS improved to rupees 2.07 per share marking a robust 24.12% increase over the previous year. We have also strengthened our balance sheet through disciplined financial management. Current borrowings have reduced significantly by rupees 45 crore which was earlier 113 crore has now become rupees 67 crore and the total debt declined by rupees 33 crore to now rupees 144 crore. On the industry front, the Indian steel sector is witnessing a phase of rapid growth and transformation.
Domestic steel demand is Projected to increase by 9 to 10% in FY26 Supported by strong government infrastructure spending policy reforms and industrial expansion. Key initiatives such as the Rs 75,000 crore investment in transportation and infrastructure, the PLI scheme for specialty steel and the FDI investment of over 1.1 lakh crore into the steel sector reflect a sustained position towards self reliance and modernization. India now ranks the second largest producer of crude steel globally and is poised for further expansion with a per capita steel consumption expected to rise from 86.7kg in FY23 to 160kg by FY31. Manaksia coated metals and industries is strategically aligned with these industry dynamics.
Our focus on manufacturing high end value added coated steel products, our expanding export footprint and our commitment to continuous improvement in cost and operational efficiency positions us well to capitalize on the sector’s strong fundamentals. The industry’s upward momentum validates our strategy and strengthens our conviction in the long term. Opportunities Looking ahead financial year 26 is poised to be a pivotal year for us as we embark on a series of strategic growth initiatives enabled by the successful fundraiser to a preferential issue. We are progressing on three key strategic projects that will significantly enhance our scale, cost competitiveness and margin profile.
In December 24th our shareholders approved the issuance of fully convertible equity warrants. This secured a fundraise of rupees 135 crores and the capital has provided us with the financial flexibility to accelerate our expansion roadmap and enhance operational efficiency along with strengthening of long term sustainability. First, we are upgrading our galvanizing line to aleucing technology which will increase our capacity to 1 80,000 ton annually. This transition is expected to enhance product realization, reduce raw material cost and strengthen our EBITDA performance. Second, our captive solar power plant in Kutch is in the final negotiation phases. With an estimated capacity of 6.5 to 7 megawatt peak and a commissioning timeline of seven to nine months, this project will reduce our dependency on grid electricity and improve long term energy cost efficiency.
Third, the expansion of our color coating capacity line number two is being added and the project is advancing well. Once operational, it will significantly boost our capacity for high margin value added steel product and further diversify our offerings. These investments, backed by stronger financial foundation and robust execution capabilities, will drive the next phase of growth for Manakiya coated metals and industries. In the closing remarks, I would like to express my heartfelt gratitude to our employees for the relentless commitment to our customers for their continued trust and to our shareholders for their unwavering support. We remain focused on operational excellence, financial discipline and delivering long term sustainable growth.
Thank you again for joining us today. I look forward to answering your questions.
operator
Thank you, sir. We will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star and 2. Participants are requested to use handsets while asking a question. Ladies and gentlemen, it is reminded that this call is being scheduled for one hour. Participants, we will wait for a moment while the question queue assembles. The first question is from the line of Agastya Dawe from CAO Capital. Please go ahead.
Questions and Answers:
Agastya Dawe
Afternoon everyone. Thank you very much for the opportunity. Sir, I have three small questions. One is the CapEx for next year and the year after that. Can you give a number that we can see for the next two years?
Mitra Khan
Sure. Is that the only question? No, sir.
Agastya Dawe
Okay, I’ll ask all the three questions in one go. Yes, the second I was a bit disappointed with the profitability this time. Can you give a general qualitative explanation as to what all factors are playing out in the market? Because the steel prices have been all over the place. So was there an element of inventory loss? And how do you see the targets that you had set for yourself with the new lines coming in for next year? Do you see any changes in your expectations with respect to profitability of the business? And the last question from my side is if you can share the exact timelines which Quarter next for the next four upcoming quarters which quarter will see which production line starting commercial operations.
Mitra Khan
Okay, thank you very much Gustav Ji. I will answer your questions one by one. Number one, you had asked for the CAPEX plans for this year and the next. So if you go through our updated you know investor presentation it is clearly highlighted that we are focusing mainly on phase one and phase two of our CapEx plans in the current financial year and the next which include number one the technology upgrade from galvanizing to Alu zinc. This is a capex of total 40 crore rupees and should be operational in Q2 of FY26 early Q2. So we are targeting July 2026 for commissioning the Alu zinc production with the enhanced capacity of 1 lakh 80,000 tons per annum.
Agastya Dawe
July 2026.
Mitra Khan
July 2025. July 2025 in FY26. Yes. The second capex is towards the captive solar power plant. This is a power plant which will be approximately 7 megawatt peak capacity. And the you know the, the plant in terms of the design and the capacity and the selection of equipment and EPC vendor is pretty much done and hopefully we will be you know awarding the EPC contract within the month of May itself. And the commissioning of this project is a timeline of anywhere between seven to nine months. And this is a roughly between a 28 to 30 crore rupee capex.
Agastya Dawe
Okay, okay.
Mitra Khan
The third is a capacity expansion of our color coating line where we produce pre painted steel or color coded steel which is the final and the most value added form of product that we are making. So the second line would be you know capacity of 1 lakh 50,000 tons. And it would be again we are in the final stages of negotiation and we are forecasting that the final order for plant and equipment would be placed anywhere between you know within the end of May or early June in this year and it will take anywhere between your 9 to 10 months for commission.
Agastya Dawe
Yes. And this is 40 crores right sir?
Mitra Khan
Yes, correct.
Agastya Dawe
And all these so 240 crores and 130 crore. All of this happens next year.
Mitra Khan
Current financial year in the current financial FY26. Right, right, correct.
Agastya Dawe
So final question on the, so second question was on profitability and there was one more question.
Mitra Khan
Yeah, the timelines of the projects I think I have answered. You have answered your first question on the profitability side. Well I think you see obviously the peak profitability of our company will be achieved with the all using product where the EBITDA margins are expanding by you know approximately 35 to 40%. And definitely the profitability will be at a completely different league when that happens. However, I think talking about Q4 in terms of growth year on year growth for the year we have achieved a decent percentage growth where our EBITDA has been higher by about 11% touching 63 crore.
And profit before tax has been higher by 38% to 20.6 crore. And PAT grew by 37% year on year to 15.82 crore for the whole year. So in the sense that I feel that despite the weak performance of the commodity in the markets due to the volatile geopolitical situation and multiple wars and China underperforming in terms of demand and growth we have been able to grow quantitatively and in terms of our financial performance as well. Just to tell you, even on the quantitative side, our production for galvanized steel grew by 21% crossing 1 lakh ton per annum for the first time.
Our production for pre painted steel or color coded steel grew by 22% crossing 74,000 tonnes for the first time. And the total sales volume grew by just under 14% year on year touching 1 lakh 2000 tons. And for the first time we have surpassed a quantity of 1 lakh ton milestone for the first time in FY25. I think one of the important points in terms of performance is also to tell you that export growth has been significant where 39% of the 39.5% of the total revenue is now from export in FY25. And the total sales from export increased by 28% quantitatively.
And export revenue also grew by 27% in terms of value. So all of these growth in terms of quantitative, in terms of value, in terms of profitability are indicators that we are doing a better job than last year in terms of our capacity utilization, in terms of our working capital management and in terms of our margin realization.
Agastya Dawe
Great, sir. I hope we cross double digit EBITDA margins next year with the lines coming in.
Mitra Khan
Definitely.
Agastya Dawe
Thank you very much for answering my question, sir. And all the best. Thank you.
Mitra Khan
Thank you.
operator
Thank you. Sir. Participants who wish to ask a question, please press star and one. Now the next question is from the line of Akash Kumar who is an investor. Please go ahead.
Akash Kumar
Hello sir. Am I audible?
Mitra Khan
Yes, please.
Akash Kumar
Sir. Good afternoon, sir. So basically I have questions, sir. I would like to know the currently effect of tariff work at our company if any. And secondly the current order book and current capacity utilization.
Mitra Khan
Okay, so thank you Akashi for your questions. I will answer them one by one. The first question is the impact on the tariff of the tariff war on our company. So I think predominantly the tariff war is taking place between USA and its typical supply partners which India is one of them. And you have obviously heard in the news about US implementing a lot of tariffs on imported products. But I’m happy to share with you that India typically is not a big supply partner to us when it comes to steel products. India is probably exposed to the US market for steel in a very, very insignificant way and these tariffs that have been recently introduced by the Trump administration have not got any impact, I mean a completely insignificant impact on the Indian steel industry since the exposure is extremely minuscule.
So India’s export of steel is predominantly exposed towards the European continent, the Middle Eastern continent and somewhat Latin American and the African continents. The US market is a very small market for Indian steel products. Similarly, in the same context I would like to say that our company has had a zero impact, negative or positive due to the tariff war. In terms of the order book which was your second question I would like to say that we are riding a very good wave in terms of our export order book. We are today at a four month export order book which is roughly sending at close to 300 crore rupees in export orders alone and also our regular domestic order book is at least you know, between a 100 to 120 day order book which is very normal for us.
So that is an additional about 120 crore rupees of domestic order book. Overall I can say that our export book has never been healthier which is obviously being led by exports and domestic is also quite stable in terms of capacity utilization on the pre painted steel or the color coated steel side we are actually running close to 100% capacity anywhere between 97 to 100% capacity utilization we are doing and you know, which is a very very good number to work on and this is why we are also adding a second color coating line on the galvanizing side we are running a capacity utilization of close to 85% which is also quite, you know, efficient number to be at.
Akash Kumar
Thank you sir. My next question would be currently allujing project will it be contributed to Our revenue from Q1 Q2 of financial year 26.
Mitra Khan
I’ll use in project revenue will hit our books from Q2 of FY26 please.
Akash Kumar
Okay sir, earlier if I can remember correctly it was scheduled to be in the mid Feb if I am able to remember correctly and it was, it was expected that it should start contributing in our Q1 of financial year 26. So is there any delay from our side or it was Pre planned from Q2?
Mitra Khan
Well, I think the iuzing project originally was supposed to start contributing revenues in Q1 of FY26, if not February, definitely Q1. However it has been a, you know, you can say informed decision by the board of the company to reschedule the implementation of the iucing project by about two and a half months, two and a half, three months. Because we are currently sitting on such a strong export order book, you know, which is a high margin export orders which we have got from, you know, very prestigious customers and clients spread out, spread throughout European continent.
And we feel that this is a very good opportunity to actually, you know, exploit or encash this order book and convert it into revenue and high margins for Q1 in the company. And that is why we took a call to reschedule the project implementation. And you know, if you also see that April, May, June is you know, in the domestic market and in the export market season time for both the markets because it is, you know, summertime in European, you know, continent it is three monsoon in the Indian scenario where the activity in terms of construction, building project it is always at its peak.
So I think it was a, you know, it was a good decision that we have taken which will definitely reflect in the numbers of Q1.
Akash Kumar
That’s all from my side sir. Best wishes to the team. Manakya Coded sir.
Mitra Khan
Thank you very much.
operator
Thank you. Ladies and gentlemen, in order to ask a question you may press star and 1. The next question is from the line of Priya Jain from Green Capital. Please go ahead.
Priya Jain
So my question is what is an expected impact of the Alojang galvanizing line upgraded on margins and revenue particularly in the second half of if we see FY26 and beyond given the scheduling commissioning towards the end of Q1.
Mitra Khan
Yeah, is that all? Hello? Ms. Priya, are you still there?
Priya Jain
Yes, yes. So I’m repeating my question.
Mitra Khan
No, I. I got your question. Is there anything else or this is all.
Priya Jain
No, no sir, please go ahead.
Mitra Khan
Okay. So on the impact of Alu Zinc. You see, Alu Zinc product is going to be a milestone project for the company where this particular product today in India is being produced only by four companies in the entire country. And you can imagine the country of the size of India where the demand is huge for value added steel products and there is supplies contained in a very, you know, small community or a, you know, set of producers. The price realization that Alu Zinc provides is highly superior as compared to the conventional galvanized or pre printed galvanized products.
So there is going to be naturally two impacts of using product on our company’s performance. One is the impact on revenue where we are increasing the capacity from 1 lakh 30,000 tons of galvanizing to 1 80,000 tonnes of alu zinc. So it’s a significant jump in capacity which is I think close to about between 35 to 40% of capacity enhancement. So gradually quarter on quarter as we scale up the production from let’s say you know, 1 lakh 30 to towards 1 lakh 75, 1 lakh 80,000 tonnes, we will have quite a steep increase in revenues to the extent of the capacity utilization enhancement.
And on the bottom line side there will be two major contributions. One is on the high margins where the price selling price of the product is much higher, about 4 to 5% higher than that of conventional galvanized steel products. And on the raw material side we will be saving cost of raw material due to the nature of aluminum being cheaper or less expensive than zinc. So the total impact on EBITDA will be we are estimating it to be 40% growth in EBITDA only on account of allu zinc. These are the total impacts of hallucine.
Priya Jain
A few more questions. How do you see the demand environment evolving across your key users industries? If we say construction appliances and automotive and if we see the next year like FY26.
Mitra Khan
See the demand situation is, let’s say in India it is stable where I think you have seen that despite the headwinds of global underperformance and recessionary environment in few major developed economies India has still been able to hold its ground in terms of the GDP growth, GST contribution growth and obviously consumer demand growth in terms automotive or in terms of home appliances and similarly in terms of steel. Also I feel that the demand situation in India will remain from stable to positive. We are definitely not expecting anything negative in terms of demand. I think the government is giving a good push in terms of projects, both private and public sector.
In terms of infra, in terms of transportation sector for roads and bridges and everything which all need steel for our company per se. We are having a very very balanced approach and we are hedging our risk by enhancing our exports as much as we can. We have had a 40% revenue from export in FY25 and we are targeting a higher percentage for FY26 in terms of export revenue. So we are quite balanced in our approach in terms of Managing the demand and the, you know, capacity utilization front. We are going to be a 50, 50 between export and domestic in FY26.
Priya Jain
One last question. With exports contributing over 39% which I can see to revenue with geographies. Are you focusing on your future growth and what’s the competitive landscape like in those markets?
Mitra Khan
So the export revenue of 39% that we have achieved in FY25 is predominantly, I think 90, close to 90% or slightly higher than 90% of those revenues are from the European continent where we are exporting our products to developed countries like Portugal, Spain, Italy, Greece, Germany, Poland and a few other European countries and a little bit to the Middle Eastern market going forward with Alu Zinc there are more markets and newer territories that we can penetrate such as the Latin American market. It’s a huge market consisting of a cluster of about 11, 12 countries and with large populations.
So this is a target market for us along with the Caribbean islands which will be a new geography. And I think European business will continue to drive the momentum of the, you know, the major volumes that we are doing for even the Aluc and pre painted Aleutinc products. In terms of demand, I think from the export business we are seeing robust demand. The production of steel in Europe has continued to decline due to their cost disadvantages in terms of power, gas and also their limitations of manpower. Therefore, their reliance on steel from India has to be, you know, is actually continuing and growing.
So we see a good potential to continue our exports and actually grow our exports to the European market. Plus we will definitely be tapping into some new markets with amazing products.
Priya Jain
Good. So that’s it from my side. Thank you.
Mitra Khan
Thank you.
operator
Thank you. We will take our next question from the line of Dhanraj Solani who is an investor. Please go ahead.
Dhanraj Solani
Yes.
Mitra Khan
Am I audible, sir? Yes.
Dhanraj Solani
Yeah. Good afternoon. So I have a couple of questions. I’ll start with the first. Can you elaborate on your working capital cycle and any initiative taken to improve the cash conversions ratio?
Mitra Khan
Okay. Any other question?
Dhanraj Solani
Yeah, I have two more questions so you can start with one.
Mitra Khan
You could just tell me the questions, I will not note them down.
Dhanraj Solani
Okay. Okay. Also the captive solar power plant is expected to commission within seven to nine months. So how much cost savings or EBITDA uplift would you estimate from this? And also other than current solar project, are we planning any other initiatives for sustainability? Like do you have any plans?
Mitra Khan
Okay.
Dhanraj Solani
Yeah, that’s all.
Mitra Khan
Thank you. Thank you. Dhanraji. Well, on the working capital cycle and cash conversion ratio, see currently we are in a phase where we are growing our production and expanding our product into new territories, new geographies and also new segments. Therefore our working capital cycle remains, you know in a similar kind of. Similar kind of tenure and cash conversion ratio also has remained at a similar level as where it was for the last few quarters in the last financial year. But I think when we come to the allusing product, the product mix and you know the scale at which we are going to do the business in terms of volumes for customer or volumes for sku volumes per product is going to enlarge substantially.
When this happens we will see improvement in the working capital cycle and the cash conversion ratio and it will be quite a decent impact. So I think within the next four to five months you will be able to see improvements in the working capital cycle and cash conversion ratio on the captive solar power plant cost savings and other sustainability initiatives. I would request Mr. Tushar Agrawal to say a few words since he’s you know, completely in charge of the project and knows in depth details about it.
Dhanraj Solani
Hello everyone. State energy. So regarding the solar. Captive solar project. It’s being planned for setting to be set up in Gujarat. The solar power plant would be generating roughly 1.4 to 1.5 crore units. And the per unit cost saving is roughly between five to five and a half rupees. So you can accordingly expect a big impact up to six, seven, six and a half to seven odd crores. Yeah. And sorry, is there, was there anything.
Mitra Khan
Else in the cost saving?
Dhanraj Solani
Yes, yes, yes.
Mitra Khan
Other than.
Dhanraj Solani
Are we planning any other sustainability initiatives? Other sustainability initiatives? Other sustainability initiatives?
Mitra Khan
Yes.
Dhanraj Solani
We are investing in a new effluent treatment plant where we are going to try and reuse more of the water. We’re moving towards the ZLD infrastructure where we’ll be able to reuse most of our water which is discharged for watering in house plant. There will be zero discharge from the plant. But this remains primarily the major initiative which will lead to a large reduction of carbon footprint and which has a.
Mitra Khan
Direct.
Dhanraj Solani
Profitability impact and quick payback as well. We are also I would like you to note that within the solar project we are moving towards the most advanced technology. You will Never see that 7 megawatt plant generating 1.4 crore, 1.5 crore units per year. The high generation is due to the solar tracking system being installed where each panel tracks the sun from sunrise to sunset increasing the.
Mitra Khan
Power generation per megawatt.
Dhanraj Solani
By at least 20 to 25%.
Mitra Khan
So.
Dhanraj Solani
Reaping the most out of our Investment.
Mitra Khan
Okay, sir.
Dhanraj Solani
Thank you for the opportunity.
operator
Thank you. We will take our next question from the line of Manish Sethi who is an investor. Please proceed.
Manish Sethi
Hello. Yeah, can you hear me?
Mitra Khan
Yes, please.
Manish Sethi
Yeah, so thank you for the opportunity. And first was the consolidated total income rose to 5.83%. So in FY25. So can you give a sense of how much of this came from volume growth versus pricing? Hello.
Mitra Khan
Okay, Manish, thank you for your question. I think the total revenue growth of 5.38% was not a direct reflection of the volume growth. Because in terms of volume we have grown by more than 20% in terms of galvanized steel production and by about 22% in terms of color coded steel production. So which means that even with let’s say a 20, 21% volume growth in production we have been able to grow the revenue by just under 6%. Which means that the scope of growth in revenue is much higher. This is mainly due to the contraction in the steel prices or the commodity prices worldwide.
That the impact of the total volume growth has not translated into direct revenue growth.
Manish Sethi
Okay, got it. And okay. My same question is that like consolidated like 2% growth only. So were there any one of item or increased cost in Q4FY25 that impacted full year profitability?
Mitra Khan
Sorry, please repeat. What can you.
Manish Sethi
I was saying that consolidated pads or relatively modest 2% growth. So were there any one off items or increase in cost in the Q4 FY25 that has impacted the full year profitability?
Mitra Khan
Full year profitability has grown by 37% in terms of patients. Last year PAT was. Remember last year we had achieved is rupees 11.63 crores. And the number of FY25 closing is 15.64 crores. So the growth is about 37% in terms of PAT, not 2%.
Manish Sethi
Okay, that’s it. From myself.
Mitra Khan
Thank you.
operator
Thank you. The next question is from the line of Samira Mitha, an investor. Please go ahead.
Samira Mitha
Good afternoon, sir.
Mitra Khan
Good afternoon.
Samira Mitha
Sir. I have a general question. Since. Since for the past one week we our country was going through the border tensions. So we have one of our manufacturing plants at Kutch which is again a border area and one of our warehouse is at Jammu. So did did you see any kind of challenge during those times in order to continue the operations of the company or was everything normal?
Mitra Khan
Firstly, Samiraji, I would like to thank you for observing our presentation deeply and going in depth about the locations of our operations and depots and the geographical mix that we Have. So it really talks about the in depth homework and study that you’ve done. So I’m very, very, very appreciative about that. Secondly, I think very, very relevant question in the current times. Where at the time, at the peak time of the conflict Jammu was obviously quite intense situation where we had seen, everybody in the TV had seen about the, you know, the firings and the, you know, the drone attacks and the obviously the resistance from the Indian armed forces.
So Jammu remained completely shut off from, you know, active business. But the touch unit, which is also, let’s say you know, in the. In the sense that proximity to border is close. Things were normal in terms of production, in terms of logistics, in terms of all government and private institutions were working and operational. So there was no challenge on that front. Even the port and the, you know, except the airport of Kandla and Bhuj were closed. Except this, there was no other impact to our operations or business in general. But thank you for your concern and your sympathy.
Samira Mitha
And sir, is everything now normal at your Jammu site? I mean is. Is the problem still going on at Matlab? In order to continue the operations at Jammu warehouse or.
Mitra Khan
So the warehouse remains unaffected by any, you know, problems that. That have, you know, been observed by the country or by the region specifically. So our people, our team, our warehouse, our stock, everything is 100% safe and protected. So that is good. I think the business is now picking up. We have seen that this week, let’s say from the last two days sales activity has picked up. But I feel that maybe it will take another 10, 15 days to completely normalize and for movement and trade to pick up in the region.
Samira Mitha
Okay sir, that’s it. Thank you so much and all the best.
Mitra Khan
Thank you.
operator
Thank you. Before we take the next question we would like to remind participants that you may press star and one to ask a question. The next question is from the line of Ashwini Agrawal who is an investor. Please go ahead.
Ashwini Agrawal
Yes. Hello sir. Good afternoon.
Mitra Khan
Good afternoon.
Ashwini Agrawal
I have a couple of questions. Sir.
Mitra Khan
Firstly, you told an earlier participant that.
Ashwini Agrawal
40 crores is the project cost for the losing project.
Mitra Khan
Just wanted to know how much of that has already been spent till March 2025 and how much will be spent.
Ashwini Agrawal
In the current financial year.
Mitra Khan
Your second question please.
Ashwini Agrawal
Yeah. Secondly, wanted to know for how many days the production will be stopped for.
Mitra Khan
Installing the Leuc line and have we.
Ashwini Agrawal
Planned for like stock and sales during that period.
Mitra Khan
Okay.
Ashwini Agrawal
Okay.
Mitra Khan
Ashwini ji, thank you for your questions. On the project side, the capex of 40 crores on the allusing side. Yes, majority of the amount has already been spent and we can expect about close to another, close to another about 10 crore rupees additional to be spent on the total project in this quarter. For the complete, you know, commissioning that is, that is what is yet to be spent. And in terms of the project implementation stage the galvanizing line would be idled for about between two to three weeks. We are targeting two weeks but the range is between two to three weeks.
However the color coating line or the production of pre painted steel would continue to be operational. And basically if you observe our product wise revenues today we are generating close to 78% revenue from pre painted steel or color coated steel which is coming out from the color coating line. So we have planned adequate buffer of raw material and work in progress to ensure that the color coating line or the production of pre painted steel remains continuous and does not stop even for a single day. Those plans have been made and for the, I think the gap in the galvanizing operations, the gap of two to three weeks would be, you know, met by the higher capacity that we’re installing.
That will make up for the loss in production. When we are able to start the aliasing we’ll be able to make up.
Ashwini Agrawal
For the loss very, very quickly. Okay.
Mitra Khan
One more thing sir, the order book, order book which we now have. So does it contain orders related relating.
Ashwini Agrawal
To the new product, the illusion product or.
Mitra Khan
Currently we have only taken orders for.
Ashwini Agrawal
The galvanized products and the pre painted.
Mitra Khan
Great question. So I think you know the domestic market the order book is let’s say for a shorter period between 45 to 60 days period. So those orders are for the galvanized and pre painted galvanized product. For the Aluz product we have already started booking orders from the export market for July and August shipment. So you know, let’s say the total export order book of between 280 to 300 crores that we have today would be roughly close to about 25 to 30% for ALUC and the remaining for Galvanize. And now we are stepping up our efforts to, you know, push through with more and more orders for aliasing from our export market and export customers which we are quite confident of achieving without any hassle.
Ashwini Agrawal
Okay, great. Thank you.
Mitra Khan
Thank you.
operator
Thank you ladies and gentlemen. As there are no further questions from the participants I now hand the conference over to Ms. Chandler Chandni for closing comments. Please go ahead.
Ms. Chani
Thank you everyone for joining the conference call of Manaksha Cotton Metals and Industries limited. If you have any queries, you can write to us@researcherianadvisors.com Once again, thank you for joining the conference. Thank you, Tushar sir. Thank you, Karan sir.
Mitra Khan
Thank you very much, everybody.
Dhanraj Solani
Thank you everyone.
operator
Thank you. On behalf of Manaksia Coated Metals and Industries Ltd. That concludes this conference. Thank you for joining us. And you may now disconnect your lines.