Man Industries hits 52-week high on Rs 400 crore order win

Man Industries has bagged the order for supply of various types of pipes, it said in a regulatory filing on October 3.

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Man Industries’ shares hit a 52-week high of Rs 196.40 during morning trading on October 3, following an announcement that it secured around Rs 400 crore in new orders.

The company, which manufactures pipes, reported that it received an order from a domestic customer for various types of pipes. Unfortunately, there are no further details about the customer as of now.

According to the regulatory filing made on October 3rd, the project is expected to be completed within six months. As of 11:30 am, the company’s shares were trading at Rs 193.90 on the BSE, up 3.77 percent.

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Man Industries (India) Ltd has an unexecuted order book of approximately Rs. 1600 Crores, to be executed within the next six months, according to the latest update.

The company, which was founded in 1988, is a manufacturer of large-diameter carbon steel pipes used in industries such as oil & gas, petrochemicals, water, dredging, and fertilizers.

During the quarter ending June 2023, Man Industries (India) Ltd recorded a net profit of Rs 11.88 crore, which is a 13 percent increase from Rs 10.50 crore in the same quarter of the previous year. The company generated a revenue of Rs 464 crore during this period, compared to Rs 495 crore in the June 2022 quarter.

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