Man Industries surges after strong Q3 performance

Man Industries (India) jumped 4.88% to Rs 279.35 after the company reported 11.5% jump in consolidated net profit to Rs 34.1 crore despite a 12.1% fall in revenue from operations to Rs 731.9 crore in Q3 FY25 as compared with Q3 FY24.

EBITDA improved by 6.6% to Rs 84.3 crore in Q3 FY25 from Rs 79.1 crore in Q3 FY24. EBITDA margin was 11.4% in Q3 FY25 as against 9.3% in Q3 FY24.

The company stated that it has bagged new orders worth Rs 250 crore and with these, orderbook stands at Rs 2,900 crore. These orders are to be executed within the next 6 to 12 months. The companys current bid book stands at Rs 15,000 crore.

Man Industries further stated that the Saudi and Jammu expansion programs are in full swing. Both projects are on track and likely to start production by Q3 FY26.

It has successfully completed the ERW plant assessment by MECON for API 5L X 70 grade and company started exporting ERW pipes.

Nikhil Mansukhani, managing director, MAN Industries (India), said: "We are pleased to report a resilient quarter on profitability front despite decline in revenue amid delay in export shipments caused due to non-availability of vessels.

We maintain our positive outlook for the financial year FY25, with a strong order book of approximately ~INR 29 bn slated for completion over the next 6 to 12 months and hence we maintain our full year revenue guidance of ~INR 33 bn.

Our expansion plans for both H-SAW in Saudi and Stainless-Steel Seamless Tubes in Jammu are progressing as planned, and we are committed to meeting our objectives and fulfilling our obligations to all stakeholders.

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.

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