Man Industries (India) Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Man Industries (India) has undergone stringent technical assessment of coating mill at Anjar, Gujarat in the form of performance testing of external, internal and concrete coating for steel pipeline and the same is confirmed by Shell Global Solutions International BV (One of the renowned global oil and gas company) as listed in the table below and approved against their Design and Engineering Practices (DEPs).

1. 3-layer Polythylene external coating of line pipe for buried and immersion service

2. Anti-buoyancy concrete coating for external surface of submerged steel pipeline

3. Liquid epoxy internal coating of line pipe for non- corrosive gas transmission complying to ISO 15741-2016

Shell Global Solutions International BV approval would demonstrate quality standard compliances, reduce risk, and optimize performance.

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The company appointed Agrawal on the superannuation of Ashok Gupta, the current CFO, from 31 March 2024.

Agrawal brings with him 32 years of experience post obtaining his Chartered Accountant qualification from ICAI in 1992. Prior to joining MAN Group, he has held similar positions with organizations such as Transrail Lighting, Jindal India, Skipper, among others.

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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The company appointed Agrawal on the superannuation of Ashok Gupta, the current CFO, from 31 March 2024.

Agrawal brings with him 32 years of experience post obtaining his Chartered Accountant qualification from ICAI in 1992. Prior to joining MAN Group, he has held similar positions with organizations such as Transrail Lighting, Jindal India, Skipper, among others.

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.

Shares of Man Industries shed 0.33% to end at Rs 359.10 on Thursday, 28 March 2024.

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The Board of Man Industries (India) at its meeting held on 13 March 2024 has approved the allotment of 46,32,133 fully paid up equity shares on preferential basis to non-promoters.

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