Man Industries rallied 3.76% to Rs 395 after the company announced that it has received new orders aggregating to Rs 555 crore.
The order has been received from a domestic/international customer for supply of various types of pipes. The contract has to be executed within next six months.
The total unexecuted order book as on 29 February 2024 stood at approximately Rs 2,000 crore is to be executed in the next six months, said the firm.
Man Industries is a leading manufacturer and exporter of large diameter carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable water.
The company's consolidated net profit slipped 17.7% to Rs 30.60 crore in Q3 FY24 as against Rs 37.20 crore in Q3 FY23. Net sales jumped 26.6% year on year to Rs 833.02 crore during the quarter.
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