Ashish Kacholia, Vikas Khemani portfolio smallcap stock surges 20% today

With today's up move, Man Industries share price has bounced back 26 per cent from its 52-week low level of Rs 201.45

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Man Industries (India) share price surged 20 per cent to Rs 257.80 on the BSE in Wednesday's intraday trade, triggered by a broad-based recovery in the stock market today.

 

At 01:19 PM, the stock price of the smallcap company was trading 19 per cent higher at Rs 256.20 as compared to a 1.1 per cent rise in the BSE Sensex. The BSE Midcap and Smallcap index, meanwhile, were up over 2 per cent each.

 

Ace investors Vikas Vijaykumar Khemani (2.53 per cent) and Ashish Kacholia (2.10 per cent), collectively, held 4.63 per cent stake in Man Industries (India) at the end of December 2024 quarter, shareholding pattern data shows.

 

With today's up move, the stock price of the iron & steel products company has bounced back 26 per cent from its 52-week low level of Rs 201.45, which it touched on March 3, 2025. It had corrected 47 per cent from its December month high price of Rs 379.40 on the BSE.

 

Man Industries is one of the largest manufacturers and exporters of large diameter carbon steel line pipes (LSAW, HSAW and ERW) which are used for various high pressure transmission applications for oil & gas industry, petrochemicals, water, dredging & fertilizers, hydro-carbon, and CGD sector.

 

On its part, Man Industries is undertaking capex to further widen its product offerings by entering manufacturing of stainless-steel seamless pipes and setting up a new plant at Dammam, Saudi Arabia, with a cost of Rs 600 crore. This plant will include line pipe manufacturing and a coating facility, which will cater to Saudi Arabia's growing demand.

 

As of December 2024 quarter (Q3FY25), the company's order book stood at Rs 2,900 crore, to be executed within the next 6 to 12 months. Current bid book stands at around Rs 15,000 crore.

 

The company delivered a multi-quarter high consolidated earnings before interest, tax, depreciation and amortisation (Ebitda) margin of 11.4 per cent in Q3FY25, as against 9.3 per cent in Q3FY24. The company reported 11.4 per cent year-on-year (Y-o-Y) growth in profit after tax at Rs 34.1 crore despite a 12 per cent Y-o-Y decline in revenue at Rs 731.9 crore amid delay in export shipments caused due to non-availability of vessels.

 

The management maintains a positive outlook for the financial year FY25, with a strong order book slated for completion over the next 6 to 12 months, and hence has maintained a full year revenue guidance of Rs 3,300 crore.

 

The company's Saudi and Jammu expansion program is in full swing. Both projects are on track and will likely start production by Q3FY26. This incremental capacity, once stabilised, is anticipated to improve the scale of operations and profitability.