Man Ind orderbook at Rs 2,500 cr, eyes Rs 2,000 cr rev in FY11

Leading SAW pipes-maker, Man Industries, hopes to cross the Rs 2,000 crore turnover mark this fiscal (FY11) and the Rs 3,000 crore mark by FY13 on the back of a robust demand for pipes in the oil and gas and hydrocarbons segments, a top company official said.

"There is a healthy demand coming from the oil and gas sector, especially in the Middle-East which is our major market. We are also buoyant on Africa where the initial response to our offerings has been encouraging," Man Industries' Chairman Ramesh Mansukhani told PTI here.

The company is set to achieve a 20 per cent growth which should see it cross the Rs 2,000 crore mark this fiscal.

"In the next two years, we aim to take our turnover to Rs 3,000 crore," he said.

The company has an order-book of Rs 2,500 crore at present and its bid-book stands at around Rs 5,000 crore.

"We will be executing orders worth Rs 2,000 crore in FY11 as compared to Rs 1,600 crore last year," he said, adding that the company has received orders worth Rs 6,000 crore in the last two years of which it has executed Rs 3,600 crore.

A predominant portion of its business (90 per cent) emanates from the Middle-East from the oil and gas segment, he said, with the company also having presence in South America, Southeast Asia and now increasingly, Africa.

"We have now started focusing on Africa and have received orders worth Rs 300 crore from there in the last two-years. It is a good beginning," Mansukhani said.

On its three-year road-map, he said that the thrust would be on enhancing capacity utilisation and that there are no capex or capacity-increase plans.

"Our thrust will be on capacity utilisation to take it up to around 70 per cent," he said.

On the water segment business, Mansukhani said that it was a low value-addition segment though a rapidly-growing one.

"The market here is highly fragmented and transport logistics plays a critical role here. Besides, there are several unorganised sector players here and hence, our strategy to give a strong thrust to the oil and gas segment," he said.