Maan Aluminium share price & results

Maan Aluminium Limited· Metals & Mining· Commodities

Results to: Jun 2026
Latest analysed call: Q1 FY27
Ownership as of: Sept 2026

India-based manufacturer and exporter of aluminium extrusion products (profiles, anodizing, machining) transitioning into a high value-add aluminium converter for construction, auto, defence, aerospace and railway applications.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	232 ₹ crore	+9.8% YoY	Quarterly, as filed	Quarter to Jun 2026	Revenue from operations as filed.
Operating margin	2.3 %	−0.0 pts YoY	Operating profit / revenue	Quarter to Jun 2026	For the quarter; a change is in percentage points.
Net profit	3.1 ₹ crore	+13.6% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.
Return on equity	Unavailable	—	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.
Free cash flow margin	Unavailable	—	Fiscal year	FY · period unavailable	Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)	Unavailable	—	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

0 of 6 judged targets kept · 10 open · verdicts reflect calls analysed to Q1 FY27.

Maan Aluminium Limited management guidance track record on Inve: 16 targets tracked across analysed earnings calls (0 achieved, 6 missed, 10 open).

Target	Original wording	Said	Latest call	Verdict
EBITDA Margin	Get back the EBITDA kind of numbers where we are between 15%-18% within the next 2-3 years. Call transcript, Q2 FY26 · 17 Nov 2025	Q2 FY26	Q1 FY27:The target was not mentioned. With current EBITDA margin at 3%, both the original 15-18% and revised 8% targets seem abandoned. Call transcript, Q1 FY27 · 14 Aug 2026	Ghosted
Dewas Unit Operational Status	Hopefully, we can have it online by Q1 or Q2 of next year [FY27]. Call transcript, Q2 FY26 · 17 Nov 2025	Q2 FY26	Q1 FY27:Timeline pushed out again. Management now expects the plant to be 'up and running' by 'mid of next year' (mid-FY28), representing another significant delay. Call transcript, Q1 FY27 · 14 Aug 2026	Delayed
Dewas Facility Utilization	we are very confident that we should be able to at least do 40-50% of the utilization of that plant. Call transcript, Q4 FY26 · 1 Jun 2026	Q4 FY26	Q1 FY27:The target remains valid but is conditional on the commissioning of the Dewas plant, which has been further delayed to mid-FY28. Call transcript, Q1 FY27 · 14 Aug 2026	On Track

Source: Inve Guidance Tracker for Maan Aluminium Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

6 of Maan Aluminium Limited's 16 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 13 more targets are in the full ledger.

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See the full record

Price

₹92.44 +5.14% · +₹4.52

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −34.2% 1Y

1Y: ₹140.54 on 24 Oct 2025 → ₹92.44. High ₹170.98 (22 Dec 2025), low ₹87.92 (26 Oct 2026).

Previous close: ₹87.92
Market cap: ₹559 Cr
52-week range: ₹87.92 – ₹170.98
One year: −35.38%

Overview

Symbol: NSE:MAANALU
Sector: Metals & Mining
Industry: Commodities
Exchange: NSE
Currency: INR

What Maan Aluminium Limited does

Based on the company's own presentations, annual report and earnings calls.

Maan Aluminium manufactures aluminium extrusion products, casting hot-top billets in-house and then extruding, anodizing, powder-coating and precision-machining them at its Pithampur (Madhya Pradesh) plant, with a newly acquired Dewas unit added for tubing and downstream value-addition. Its profiles (hardware, structural, solar, defence, railway, electrical, automotive, architectural and more) serve construction, automobile, solar, agriculture, defence, railway, electrical & electronics, medical and heavy-engineering customers. Alongside manufacturing, it runs a legacy trading and distribution business in primary aluminium products. The company exports to markets including the US, UAE, Australia, UK, Qatar and Israel, and maintains domestic stock depots in Delhi, Raipur and Hosur.

Segments

Manufacturing – Aluminium Extrusion Products
Trading & Distribution – Primary Aluminium Products

Manufacturing facilities: 3 units – Pithampur Unit I (operational), Pithampur Unit II (land only), Dewas Unit III (refurbished)
Extrusion capacity: 24,000 TPA (up from 10,000 TPA)
Foundry capacity: 12,000 TPA (2 furnaces: 8MT & 10MT)
Anodizing capacity: 3,600 TPA
Machining capacity: 1,400 TPA
Total workforce (incl. contractual): 700+

Founded 1989Headquarters New Delhi, IndiaEmployees 221 (FY25) Company website

How the price took the results

close before → close after

Q1 FY27: −1.3%; 14 Aug
Q4 FY26: −7.9%; 1 Jun
Q3 FY26: +0.1%; 17 Feb
Q2 FY26: +5.9%; 17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Guidance

What management said, and what became of it

0 of 6 judged targets kept · 10 open · verdicts reflect calls analysed to Q1 FY27.

Maan Aluminium Limited management guidance track record on Inve: 16 targets tracked across analysed earnings calls (0 achieved, 6 missed, 10 open).

Target	Original wording	Said	Latest call	Verdict
EBITDA Margin	Get back the EBITDA kind of numbers where we are between 15%-18% within the next 2-3 years. Call transcript, Q2 FY26 · 17 Nov 2025	Q2 FY26	Q1 FY27:The target was not mentioned. With current EBITDA margin at 3%, both the original 15-18% and revised 8% targets seem abandoned. Call transcript, Q1 FY27 · 14 Aug 2026	Ghosted
Dewas Unit Operational Status	Hopefully, we can have it online by Q1 or Q2 of next year [FY27]. Call transcript, Q2 FY26 · 17 Nov 2025	Q2 FY26	Q1 FY27:Timeline pushed out again. Management now expects the plant to be 'up and running' by 'mid of next year' (mid-FY28), representing another significant delay. Call transcript, Q1 FY27 · 14 Aug 2026	Delayed
Dewas Facility Utilization	we are very confident that we should be able to at least do 40-50% of the utilization of that plant. Call transcript, Q4 FY26 · 1 Jun 2026	Q4 FY26	Q1 FY27:The target remains valid but is conditional on the commissioning of the Dewas plant, which has been further delayed to mid-FY28. Call transcript, Q1 FY27 · 14 Aug 2026	On Track

Source: Inve Guidance Tracker for Maan Aluminium Limited · to Q1 FY27

The full ledger

Open Maan Aluminium Limited’s full ledger

A free account opens 5 company ledgers a month. All 16 tracked commitments, with each call’s wording and source.

Browse the register

Latest analysed call: Q1 FY27, 14 Aug 2026. 4 calls analysed.

Call summaries

Q1 FY27 — 14 Aug 2026

Maan Aluminium Limited Q1 FY27

Maan Aluminium Limited delivered a strong Q1 FY27, with revenue growing 10% YoY to INR 232 crores and profitability significantly improving QoQ. EBITDA rose 40% to INR 7 crores, and PAT increased to INR 3 crores, driven by better operating performance and cost discipline. The company is actively transitioning towards high value-added manufacturing with planned capex, while navigating challenges from export duties and elevated freight costs due to geopolitical factors.

Read the full call

Q4 FY26 — 1 Jun 2026

Maan Aluminium Q4 FY26

Maan Aluminium reported a year of strategic transformation in FY26 with significant capacity expansion and balance sheet strengthening through preferential capital infusion. However, financial performance saw flat revenue and declining profits due to challenging market conditions, increased raw material and energy costs, and slower-than-anticipated ramp-up of new capacities. The company remains focused on increasing utilization and expanding its value-added product mix to improve future profitability.

Read the full call

Q3 FY26 — 17 Feb 2026

Maan Aluminium Q3 FY26

Maan Aluminium reported a mixed Q3 FY26, with revenue declining 16% YoY to INR152 crores due to lower trading and muted exports, while EBITDA grew 16% to INR7 crores, supported by an improved manufacturing mix. The company is undergoing a strategic transformation towards high-value-added products, expanding capacity to 24,000 MT, and investing over INR190 crores in capex over the next three years. Despite near-term challenges from ramp-up costs and under-utilization, management expects normalized EBITDA margins of ~8% in the medium term, driven by value-added products and operating leverage.

Read the full call

Summaries of each call, in Inve’s own words; the transcript is not reproduced. Not investment advice.

Every analysed call

Maan Aluminium Limited earnings calls (MAANALU)

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 1 fiscal year held (Mar 2009 to Mar 2009).

Mar 2009
48.91 days

How it is calculated. Reported receivable days from the annual accounts.
Mar 2009
39.65 days

How it is calculated. Reported inventory days, using material cost / cost of goods sold.
Mar 2009
3.98 days

How it is calculated. Reported payable days, using material cost / cost of goods sold.
Mar 2009
84.59 days

How it is calculated. Reported debtor days plus inventory days less payable days.
Mar 2009
93.50 days

How it is calculated. Reported net working capital days from the annual accounts.
Mar 2009
0.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2009
—

How it is calculated. Market capitalisation from the current stock record.

Mar 2009
48.91 days

Mar 2009
39.65 days

Mar 2009
3.98 days

Mar 2009
84.59 days

Mar 2009
93.50 days

Mar 2009
0.00%

Mar 2009
—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +14% (quarter to jun 2026 against jun 2025).

In ₹ crore. Oldest period first.

Line item	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	205	182	246	211	191	152	255	232
Expenses	198	177	238	206	183	146	253	226
Operating profit	8	5	8	5	8	6	2	5
Operating margin	3.7%	2.6%	3.1%	2.3%	4.2%	3.6%	0.6%	2.3%
Other income	1	1	1	2	3	2	4	2
Interest	1	1	1	1	2	1	1	1
Depreciation	1	1	2	2	2	2	2	2
Profit before tax	7	4	6	4	8	4	3	4
Tax rate	25.9%	24.7%	36.7%	25.4%	25.7%	25.5%	32.3%	28.2%
Net profit	5	3	4	3	6	3	2	3
EPS (₹ per share)	0.95	0.56	0.73	0.50	1.07	0.52	0.28	0.52

Source: Inve data · income statement, quarterly · to Jun 2026

In ₹ crore. Oldest period first.

Line item	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	814	953	810	809
Expenses	743	908	785	789
Operating profit	71	45	25	20
Other income	5	8	5	11
Interest	5	4	3	5
Depreciation	4	5	6	7
Profit before tax	67	44	22	18
Net profit	50	33	16	13

Source: Inve data · income statement, annual · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026
Equity capital	14	14	27	27	27	30
Reserves	71	117	136	151	160	245
Borrowings	66	56	33	90	83	55
Other liabilities	21	38	29	31	35	34
Total liabilities	171	225	225	300	305	363
Fixed assets	45	51	54	105	107	107
Capital work in progress	0	1	2	0	0	16
Investments	0	1	4	6	7	9
Other assets	126	173	165	188	190	231
Total assets	171	225	225	300	305	363

Source: Inve data · balance sheet · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operations	-19	15	29	33	0	18
Cash from investing	-12	-7	-10	-6	-54	-60
Cash from financing	38	-14	-19	-27	54	42
Net cash flow	6	-6	0	0	0	0
Free cash flow	-31	4	19	25	-56	-7

Source: Inve data · cash flow · to Mar 2026

In days and %. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	57	46	52	34	47	41
Inventory days	35	29	20	17	30	34
Days payable	15	9	17	9	10	11
Cash conversion cycle	77	66	55	42	67	64
Working capital days	19	27	35	33	36	46
Return on capital employed	22.0%	24.0%	43.0%	25.0%	12.0%	8.0%
Dividend payout	6.0%	6.0%	8.0%	0.0%	0.0%	0.0%

Source: Inve data · annual ratios · to Mar 2026

Ownership

Who owns it

Promoters hold 55.82% as of Sept 2026; institutions cut 0.07 pts since Jun 2026.

Promoters 0.00 pts 55.82%
Foreign institutions +0.05 pts 0.05%
Domestic institutions −0.12 pts 1.59%
Government 0.00 pts 0.00%
Public +0.07 pts 42.53%

30,248 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who is on the register

Named in the Sep 2026 filing

Every holder of Maan Aluminium Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	37.08%	unchanged
	9.37%	unchanged
	4.69%	unchanged
	4.68%	unchanged
	2.08%	unchanged
	2.07%	unchanged
	1.91%	unchanged
Mutual fund	1.59%	unchanged
	1.52%	unchanged
	1.14%	unchanged
	1.06%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

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