Man Industries

Stock of this smallcap iron & steel company has zoomed over 340% in 10 mths

Shares of Man Industries (India) hit a record high of Rs 378.50 as they rallied 12% after the company received new orders of approximately Rs 400 crore

MAN Industries case: NFRA imposes 5-year ban on auditor for lapses

The National Financial Reporting Authority (NFRA) has slapped a Rs 5 lakh fine and a five-year ban on an auditor for professional misconduct in the audit of MAN Industries for 2016-17. The regulator slapped a fine of Rs 5 lakh on Nilesh Chheda, who was the Engagement Partner (EP) for the statutory audit of MAN Industries (India) Ltd (MIIL) for FY17. It also barred Chheda for five years from undertaking any audit in respect of financial statements or internal audit and activities of any company or corporate. The order came after NFRA received a letter from Sebi regarding the financial irregularities committed by the company. Thereafter, the regulator initiated action to investigate into professional or other misconduct of the statutory auditor of MIIL. In its 30-page order passed on Wednesday, NFRA found the auditor, incorrectly 'Qualified' his opinion on consolidated financial statements, stating that they reflected a 'true and fair view' except for the non-consolidation of its ...

MAN India secures new orders worth Rs 380 cr, shares hit 52-week high

MAN Industries (India) Ltd on Monday said it has secured new orders worth Rs 380 crore. The current order book of the company has reached Rs 1,400 crore, MAN Industries (India) said in a statement. The current order book is to be executed within the next six months, it added. Shares of the company surged by more than 9 per cent to hit a 52-week high of Rs 256.80 on BSE following the announcement. Around 1.24 lakh shares were traded on the exchange. On NSE, the stock surged 9.51 per cent to hit a year high of Rs 257.30 as more than 14 lakh shares changed hands on the exchange. Shares of the company were trading 6.98 per cent higher at Rs 250.75 on BSE and 6.38 per cent higher at Rs 249.95 on NSE in the pre-close session. MAN Industries (India) Chairman R C Mansukhani said that these new order wins will further solidify the company's role as a significant contributor to the nation's growth and development. MAN Industries (India) is one of the largest players in LSAW (longitudinal .

Man Industries settles forensic audit disclosure lapses case with Sebi

Man Industries (India) Ltd on Monday settled with capital markets regulator Sebi a case concerning alleged delayed and inadequate disclosure regarding the initiation of a forensic audit. The matter was settled after the company paid Rs 8.79 lakh towards the settlement amount, according to an order passed by the Securities and Exchange Board of India (Sebi). The order came after the company filed an application with Sebi, requesting the settlement of the adjudication proceedings initiated through a show-cause notice in August last year. "Specified proceedings initiated against the applicant (Man Industries) vide Show Cause Notice dated August 3, 2022 are disposed of in terms... of the Settlement Regulations on the basis of the settlement terms," Sebi said in its order. The regulator had initiated a forensic audit in respect of Man Industries for the financial years 2014-15 to 2020-21. The receipt of the intimation was acknowledged by the applicant through an email dated November 25,

MAN Industries Q2 net profit more than doubles to Rs 27.28 crore

Pipe maker MAN Industries (India) Ltd on Tuesday reported more than doubling of its consolidated net profit to Rs 27.28 crore for the quarter ended September 30

Man Industries June-quarter net jumps over four-fold to Rs 17 crore

The company had posted a net profit of Rs 3.63 crore during the same period a year ago

Man Industries zooms 20% on order win of Rs 925 crore from GAIL (India)

The stock locked in upper circuit of 20% at Rs 110, also its 52-week high on the BSE, after the company received order worth of Rs 925 crore from GAIL (India).

Bombay HC appoints arbitrator to resolve Mansukhani brothers' dispute

The court, meanwhile, kept all contentions of both brothers for arbitration open. The cost of arbitration needs to be borne by both brothers equally, the court ordered