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Man Industries (India) Limited

Man Industries (India) Limited

MANINDS.BO
Man Industries (India) LimitedIN flagBombay Stock Exchange
495.95
INR
-5.95
- -
37.20BMarket Cap
Man Industries (India) Limited
MANINDS.BO
(Bombay Stock Exchange)

Recent

price

495.95

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
294.06
316.7
260.19
176.05
238.87
243.71
182.15
267.58
379.79
300.51
359.53
372.13
369.34
515.86
541.47
494.41
494.77
Revenue per Share
14.93
12.86
10.7
1.58
8.82
15.14
5.88
11.15
10.3
9.72
17.66
17.78
11.17
17.42
23.66
23.65
23.67
Basic EPS, GAAP
-68
124.38
-91.08
36.23
11.28
27.75
-17.1
3.77
19.38
35.66
-12.62
70.94
-54.57
37.79
-12.55
18.3
- -
Free Cash Flow per Basic Share
2.36
2
2.05
1
1.5
1.5
1.5
1.5
1.57
2.45
1.99
- -
1.97
1.98
- -
- -
- -
Dividend per Share
59.48
70.14
75.83
87.43
56.44
68.07
73.17
81.5
89.83
94.59
107.93
125.69
121.59
136.11
157.33
5.2
5.21
Book Value per Share
84.74
95.87
107.31
115.69
75.4
99.17
104.77
114.21
122.94
130.7
146.21
146.77
178.34
222.22
237.56
279.87
280.07
Tangible Book Value per Share
55
55
58
57
57
57
57
57
57
57
57
57
60
60
65
72
72
Basic Weighted Avg Shares
16,042
17,509
15,136
10,053
13,640
13,917
10,401
15,279
21,687
17,160
20,530
21,259
22,165
31,129
35,054
35,639
35,639
Sales/Revenue/Turnover
2.32
8.21
10.55
3.13
5.78
8.44
0.79
5.68
6.1
7.26
11.13
7.27
4.36
6.04
8.3
10.11
10.06
Operating Margin (%)
410
409
395
318
424
371
401
392
459
523
464
454
455
611
452
789
789
Depreciation Expense
814
711
622
90
504
865
336
637
588
555
1,008
1,016
670
1,051
1,532
1,705
1,705
Net Income, GAAP
5.75
40.86
39.98
27.19
16.56
7.36
24.23
33.22
33.47
14.95
26.22
24.73
25.06
27.14
26.48
28.05
28.05
Effective Tax Rate (%)
5.08
4.06
4.11
0.9
3.69
6.21
3.23
4.17
2.71
3.23
4.91
4.78
3.02
3.38
4.37
4.78
4.78
Profit Margin (%)
2,703
1,571
4,258
5,347
3,088
2,978
2,891
1,766
1,513
1,562
2,980
6,640
5,904
7,698
7,656
9,357
9,357
Working Capital
2,201
- -
2,986
3,098
2,606
1,905
1,313
896
492
271
96
2,476
1,308
1,503
1,541
3,011
3,011
LT Debt
5,127
6,120
6,548
6,606
4,904
5,663
5,983
6,522
7,020
7,464
8,349
9,005
11,323
14,049
16,073
20,865
20,865
Total Equity
2.61
6.14
8.65
2.02
6.5
11.63
0.63
5.57
8.83
10.55
15.4
9.93
5.5
8.65
11.21
10.75
10.7
Return on Invested Capital (%)
9.26
7.34
7
3.43
9.72
17.51
6.84
9.96
11.62
11.92
14.58
12.17
8.42
13.54
17.31
25.91
25.81
Return on Capital (%)
21.98
19.96
15.02
1.92
12.26
24.32
8.33
14.42
12.03
10.54
17.44
15.23
9.26
13.56
16.65
32.29
32.29
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
2,534
- -
3,268
LT Borrowings
2,391
- -
2,402
LT Finance Leases
686
- -
610
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
75
- -
75
Market Capitalization
25,571
27,981
22,913

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
28,604
- -
35,331
Cash, Cash Equivalents & STI
4,801
- -
7,480
Accounts Receivable, Net
12,129
- -
10,098
Inventories
9,371
- -
15,350
Total Current Liabilities
17,387
- -
25,974
Payables & Accruals
- -
- -
- -
ST Debt
2,534
- -
3,268
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.24%
20.38%
29.82%
Free Cash Flow
-133.14%
-282.13%
-262.43%
Net Income, GAAP
17.75%
16.11%
11.3%
Sales/Revenue/Turnover
12.49%
12.51%
1.67%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,904
10,180
8,330
7,814
31,129
2025
7,487
8,062
7,319
12,185
35,054
2026
7,421
8,341
8,304
11,573
35,639

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.9
6.68
5.09
- -
17.42
2025
2.94
4.92
5.36
9.15
23.66
2026
4.13
4.83
7.64
7
23.65

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.98
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Man Industries (India) Limited Man Industries (India) Limited manufactures and exports large-diameter carbon steel line pipes for high-pressure transmission applications in oil, gas, petrochemicals, water dredging, fertilizers, and infrastructure sectors. The company produces Longitudinal Submerged Arc Welded (LSAW) pipes, Helical Submerged Arc Welded (HSAW) pipes, Electric Resistance Welded (ERW) pipes, casing pipes, hot induction bends, and stainless steel seamless tubes and pipes; it also provides anti-corrosion coating systems including three-layer polyethylene (3LPE), three-layer polypropylene (3LPP), fusion bonded epoxy (FBE), and concrete weight coatings. Operations span global pipeline projects for onshore, offshore, and sour service applications, with facilities in India and expansions underway internationally; founded in 1988 and headquartered in Mumbai, Maharashtra, it forms part of the diversified Man Group under the Mansukhani family. Recently, the company raised ₹255 crore through preferential allotment of equity shares to non-promoter institutional investors including Ashish Kacholia and Carnelian Asset Management in July 2025 to fund expansions in Jammu, India, and Dammam, Saudi Arabia, alongside bolstering working capital; in November 2025, it signed a five-year Memorandum of Understanding (MoU) with Aramco Asia India Pvt. Ltd. to explore long-term supply of its pipe portfolio and potential manufacturing facility setup in Saudi Arabia; additionally, it appointed Esha Padmanabhan Achan as a non-executive independent director in November 2025 and continues aggressive capacity buildup targeting completion by fiscal 2027.