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

Steel, Small Cap

MAN Industries (India) announced its inclusion in Qatar Energy LNG's approved vendor list. This significant milestone marks a key achievement in the company's growth journey, underscoring its commitment to delivering high-quality products and services to the global energy sector.

Qatar Energy LNG, formerly known as Qatargas, is world's largest producers of liquefied natural gas (LNG) with an annual production capacity of 77 million tonnes per annum (MTPA), playing a crucial role in Qatar's energy export strategy. Qatar is renowned for its vast natural gas reserves, particularly in the North Field, the world's largest non-associated gas field.

With this inclusion, MAN Industries (India) Limited is now recognized as a trusted partner for supplying line pipes to the critical energy sector.

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Man Industries (India) announced that Merino Shelters, Wholly-owned Subsidiary of the Company has entered into a Deed of Assignment along with granting of development rights on 31 March, 2025 for its piece and parcel of land of approx. 6 Acres Opp. D.Y. Patil Stadium, Navi Mumbai, Maharashtra with Paradise Green - Spaces LLP, part of Paradise Group.

Paradise Group is a trusted name in real estate known for creating legacies through exceptional residential and commercial projects. With an unwavering commitment to delivering world-class developments, they have already completed 8 Million sq. ft. construction and 30 Million sq. ft. is being developed with their strong presence across Navi Mumbai and MMR.

In view of the above, the upfront amount of Rs. 70 crore and out of total area of the developed property the Company will get 30% area i.e. equivalent to approx. 4,50,000 sq. ft. Rera carpet area (Commercial and Residential) which has a monetising value of approx. Rs. 650 - Rs. 700 crores over a period of 5 - 6 years. The total monetising value would be approx. Rs. 720 - Rs. 770 crore.

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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 company’s 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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Net profit of Man Industries (India) rose 11.50% to Rs 34.12 crore in the quarter ended December 2024 as against Rs 30.60 crore during the previous quarter ended December 2023. Sales declined 12.13% to Rs 731.94 crore in the quarter ended December 2024 as against Rs 833.02 crore during the previous quarter ended December 2023.

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