Man Industries (India) hits 52-week high after strong Q1 numbers

Man Industries (India) rose 2.39% to Rs 121.95 at 10:48 IST on BSE after net profit jumped 460.4% to Rs 17.71 crore on 90.8% growth in net sales to Rs 403.89 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced after market hours yesterday, 16 July 2015.

Meanwhile, the S&P BSE Sensex was up 21.77 points or 0.08% at 28,467.89.

On BSE, so far 5.29 lakh shares were traded in the counter as against average daily volume of 3.26 lakh shares in the past one quarter.

The stock hit a high of Rs 127.10 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 121 so far during the day. The stock had hit a 52-week low of Rs 44.40 on 31 March 2015.

The stock had outperformed the market over the past one month till 16 July 2015, surging 64.5% compared with Sensex's 6.59% rise. The scrip had also outperformed the market in past one quarter, jumping 112.49% as against Sensex's 0.77% fall.

The small-cap company has equity capital of Rs 28.55 crore. Face value per share is Rs 5.

Man Industries (India)'s bottom line growth in Q1 June 2015 would have been much higher but for steep jump in tax expense during the quarter. Tax expense surged 1797.5% to Rs 7.59 crore in Q1 June 2015 over Q1 June 2014.

Man Industries (India) is a leading manufacturer of SAW pipes (line pipes) and coating systems for high-pressure oil & gas applications. Man Industries' operations are spread globally with offices in US and UAE, besides India.

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