WEBSITE BSE:513269 NSE: MAN IND.(I) Inc. Year: 1988 Industry: Steel & Iron Products
Last updated: 14:29
Man Industries (India) Ltd is an totally India-based holding corporation. The Company is engaged within the production and coating of large diameter carbon metal pipes, infrastructure, and realty and trading. The Company is a manufacturer and exporter of large diameter carbon metallic line pipes for various high pressure transmission programs for gas, crude oil, petrochemical merchandise and potable water. The Company gives merchandise, including longitudinal submerged arc welded (LSAW) pipes, helically submerged arc welded (HSAW) pipes and coa...Read More
Man Industries (India) Ltd is an totally India-based holding corporation. The Company is engaged within the production and coating of large diameter carbon metal pipes, infrastructure, and realty and trading. The Company is a manufacturer and exporter of large diameter carbon metallic line pipes for various high pressure transmission programs for gas, crude oil, petrochemical merchandise and potable water. The Company gives merchandise, including longitudinal submerged arc welded (LSAW) pipes, helically submerged arc welded (HSAW) pipes and coating products. The Company's LSAW Line Pipes are manufactured in diameter, starting from 16 to 56 inches. Its HSAW merchandise are utilized in oil transportation, water supply, sewerage, agriculture, construction and other applications. The Company has its production facilities for LSAW and HSAW line pipes and also for numerous sorts of anti-corrosion coating structures. ...Read Less
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Market Cap ₹3188 Cr.
Stock P/E 20.8
P/B 1.6
Current Price ₹425
Book Value ₹ 269.5
Face Value 5
52W High ₹490.9
Dividend Yield 0%
52W Low ₹ 245.8
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1018 | 833 | 811 | 749 | 806 | 732 | 1218 | 742 | 834 | 830 |
| Other Income | 21 | 14 | 14 | 20 | 11 | 6 | 15 | 31 | -19 | 8 |
| Total Income | 1039 | 847 | 825 | 769 | 817 | 737 | 1234 | 774 | 815 | 839 |
| Total Expenditure | 948 | 768 | 752 | 711 | 743 | 653 | 1097 | 693 | 713 | 703 |
| Operating Profit | 91 | 79 | 73 | 58 | 74 | 84 | 137 | 81 | 102 | 136 |
| Interest | 22 | 20 | 25 | 18 | 21 | 26 | 35 | 30 | 30 | 38 |
| Depreciation | 15 | 16 | 15 | 13 | 11 | 11 | 11 | 13 | 22 | 21 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 54 | 43 | 32 | 28 | 43 | 47 | 91 | 38 | 49 | 76 |
| Provision for Tax | 15 | 13 | 8 | 8 | 11 | 13 | 23 | 11 | 12 | 21 |
| Profit After Tax | 39 | 31 | 24 | 19 | 32 | 34 | 68 | 28 | 37 | 55 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 39 | 31 | 24 | 19 | 32 | 34 | 68 | 28 | 37 | 55 |
| Adjusted Earnings Per Share | 6.5 | 5.1 | 3.7 | 2.9 | 4.9 | 5.3 | 10.5 | 4.1 | 4.9 | 7.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1364 | 1391 | 1060 | 1608 | 2222 | 1759 | 2080 | 2139 | 2231 | 3142 | 3505 | 3624 |
| Other Income | 35 | 68 | 72 | 57 | 22 | 17 | 31 | 37 | 51 | 52 | 52 | 35 |
| Total Income | 1399 | 1458 | 1133 | 1664 | 2244 | 1776 | 2111 | 2176 | 2283 | 3194 | 3557 | 3662 |
| Total Expenditure | 1250 | 1271 | 1012 | 1483 | 2045 | 1592 | 1875 | 1958 | 2107 | 2901 | 3204 | 3206 |
| Operating Profit | 149 | 187 | 121 | 181 | 199 | 185 | 236 | 218 | 176 | 293 | 353 | 456 |
| Interest | 46 | 56 | 36 | 43 | 64 | 64 | 53 | 37 | 41 | 88 | 100 | 133 |
| Depreciation | 43 | 37 | 40 | 39 | 46 | 52 | 46 | 45 | 45 | 61 | 45 | 67 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -4 | 0 | -3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 60 | 93 | 44 | 95 | 88 | 65 | 137 | 135 | 89 | 144 | 208 | 254 |
| Provision for Tax | 10 | 7 | 11 | 32 | 30 | 10 | 36 | 33 | 22 | 39 | 55 | 67 |
| Profit After Tax | 50 | 86 | 34 | 64 | 59 | 56 | 101 | 102 | 67 | 105 | 153 | 188 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 50 | 86 | 34 | 64 | 59 | 56 | 101 | 102 | 67 | 105 | 153 | 188 |
| Adjusted Earnings Per Share | 8.8 | 15.1 | 5.9 | 11.2 | 10.3 | 9.7 | 17.7 | 17.2 | 11.2 | 16.2 | 23.7 | 26.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 12% | 18% | 15% | 10% |
| Operating Profit CAGR | 20% | 17% | 14% | 9% |
| PAT CAGR | 46% | 14% | 22% | 12% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 63% | 70% | 39% | 21% |
| ROE Average | 10% | 8% | 10% | 10% |
| ROCE Average | 16% | 14% | 15% | 14% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 482 | 566 | 598 | 652 | 702 | 746 | 835 | 942 | 1132 | 1405 | 1607 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 317 | 190 | 131 | 90 | 49 | 15 | 2 | 4 | 130 | 136 | 138 |
| Other Non-Current Liabilities | 58 | 46 | 46 | 40 | 45 | 43 | 39 | 31 | 32 | 44 | 48 |
| Total Current Liabilities | 642 | 439 | 581 | 915 | 798 | 1022 | 910 | 843 | 567 | 830 | 1985 |
| Total Liabilities | 1499 | 1243 | 1356 | 1698 | 1594 | 1827 | 1786 | 1820 | 1860 | 2415 | 3779 |
| Fixed Assets | 416 | 349 | 346 | 355 | 396 | 368 | 337 | 318 | 551 | 604 | 642 |
| Other Non-Current Assets | 58 | 156 | 141 | 250 | 249 | 280 | 241 | 283 | 152 | 212 | 387 |
| Total Current Assets | 1025 | 737 | 870 | 1092 | 949 | 1178 | 1208 | 1219 | 1157 | 1600 | 2751 |
| Total Assets | 1499 | 1243 | 1356 | 1698 | 1594 | 1827 | 1786 | 1820 | 1860 | 2415 | 3779 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 179 | 148 | 168 | 155 | 5 | 5 | 136 | 17 | 82 | 37 | 189 |
| Cash Flow from Operating Activities | 64 | 205 | -75 | 132 | 137 | 214 | -60 | 451 | -120 | 345 | 68 |
| Cash Flow from Investing Activities | -61 | 2 | 21 | -105 | 0 | -46 | 4 | -119 | -135 | -279 | -41 |
| Cash Flow from Financing Activities | -35 | -188 | 41 | -115 | -138 | -37 | -63 | -267 | 211 | 86 | 30 |
| Net Cash Inflow / Outflow | -31 | 19 | -13 | -88 | -1 | 131 | -119 | 65 | -45 | 152 | 56 |
| Closing Cash & Cash Equivalent | 148 | 168 | 155 | 67 | 5 | 136 | 17 | 82 | 37 | 189 | 245 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 8.82 | 15.14 | 5.88 | 11.15 | 10.3 | 9.72 | 17.66 | 17.17 | 11.15 | 16.24 | 23.66 |
| CEPS(Rs) | 16.28 | 21.64 | 12.9 | 18.02 | 18.35 | 18.88 | 25.78 | 24.84 | 18.72 | 25.68 | 30.65 |
| DPS(Rs) | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1 | 2 | 0 | 2 | 2 | 0 |
| Book NAV/Share(Rs) | 84.49 | 99.17 | 104.77 | 114.21 | 122.94 | 130.7 | 145.35 | 158.95 | 188.39 | 215.25 | 246.51 |
| Core EBITDA Margin(%) | 8.24 | 8.58 | 4.56 | 7.75 | 7.94 | 9.52 | 9.86 | 8.44 | 5.59 | 7.68 | 8.6 |
| EBIT Margin(%) | 7.66 | 10.77 | 7.6 | 8.61 | 6.88 | 7.37 | 9.11 | 8.06 | 5.85 | 7.39 | 8.79 |
| Pre Tax Margin(%) | 4.35 | 6.71 | 4.18 | 5.93 | 3.98 | 3.71 | 6.57 | 6.31 | 4.01 | 4.59 | 5.94 |
| PAT Margin (%) | 3.63 | 6.21 | 3.17 | 3.96 | 2.65 | 3.15 | 4.85 | 4.75 | 3 | 3.35 | 4.37 |
| Cash Profit Margin (%) | 6.7 | 8.88 | 6.94 | 6.4 | 4.72 | 6.13 | 7.08 | 6.87 | 5.04 | 5.29 | 5.66 |
| ROA(%) | 3.28 | 6.31 | 2.58 | 4.17 | 3.57 | 3.24 | 5.58 | 5.63 | 3.64 | 4.92 | 4.95 |
| ROE(%) | 8.81 | 16.49 | 5.77 | 10.19 | 8.69 | 7.66 | 12.79 | 11.47 | 6.47 | 8.33 | 10.25 |
| ROCE(%) | 10.24 | 15.8 | 8.21 | 13.4 | 15.56 | 13.16 | 17.68 | 16.33 | 10.79 | 14.78 | 16.31 |
| Receivable days | 103.5 | 98.65 | 104.53 | 82.12 | 77.05 | 104.28 | 97.03 | 102.43 | 84.92 | 49.31 | 65.13 |
| Inventory Days | 51.02 | 52.43 | 40.69 | 59.85 | 52.16 | 61.85 | 62.39 | 55.46 | 59.31 | 61.13 | 99.66 |
| Payable days | 129.52 | 105.76 | 96.07 | 119.17 | 122.72 | 162.49 | 138.39 | 146.67 | 112.7 | 63.99 | 127.87 |
| PER(x) | 5.06 | 4.13 | 7.87 | 11.1 | 6.43 | 4.21 | 4.52 | 5.57 | 8.34 | 22.11 | 11.27 |
| Price/Book(x) | 0.53 | 0.63 | 0.44 | 1.08 | 0.54 | 0.31 | 0.55 | 0.6 | 0.49 | 1.67 | 1.08 |
| Dividend Yield(%) | 3.36 | 2.4 | 3.24 | 1.21 | 2.26 | 2.44 | 2.51 | 0 | 2.15 | 0.56 | 0 |
| EV/Net Sales(x) | 0.44 | 0.39 | 0.52 | 0.63 | 0.26 | 0.17 | 0.31 | 0.18 | 0.31 | 0.76 | 0.51 |
| EV/Core EBITDA(x) | 4.04 | 2.9 | 4.61 | 5.56 | 2.89 | 1.58 | 2.7 | 1.72 | 3.89 | 8.11 | 5.1 |
| Net Sales Growth(%) | 35.69 | 1.96 | -23.75 | 51.58 | 38.21 | -20.81 | 18.24 | 2.81 | 4.33 | 40.82 | 11.56 |
| EBIT Growth(%) | 96.22 | 40.98 | -46.19 | 71.65 | 10.49 | -15.2 | 46.13 | -9.09 | -24.25 | 77.89 | 32.67 |
| PAT Growth(%) | 458.19 | 71.64 | -61.17 | 89.71 | -7.62 | -5.67 | 81.7 | 0.73 | -34 | 56.84 | 45.68 |
| EPS Growth(%) | 458.19 | 71.64 | -61.17 | 89.71 | -7.62 | -5.67 | 81.7 | -2.81 | -35.02 | 45.62 | 45.68 |
| Debt/Equity(x) | 1.03 | 0.62 | 0.75 | 0.56 | 0.35 | 0.37 | 0.34 | 0.05 | 0.26 | 0.22 | 0.29 |
| Current Ratio(x) | 1.6 | 1.68 | 1.5 | 1.19 | 1.19 | 1.15 | 1.33 | 1.45 | 2.04 | 1.93 | 1.39 |
| Quick Ratio(x) | 1.17 | 1.39 | 1.31 | 0.74 | 0.92 | 0.78 | 0.96 | 1.07 | 1.32 | 1.15 | 0.75 |
| Interest Cover(x) | 2.32 | 2.65 | 2.22 | 3.22 | 2.37 | 2.01 | 3.59 | 4.62 | 3.18 | 2.64 | 3.09 |
| Total Debt/Mcap(x) | 1.94 | 0.99 | 1.69 | 0.52 | 0.64 | 1.19 | 0.62 | 0.09 | 0.53 | 0.13 | 0.26 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 49.62 | 49.62 | 46.15 | 46.12 | 46.15 | 46.15 | 46.21 | 48.21 | 43.21 | 43.21 |
| FII | 1.61 | 2.14 | 1.64 | 1.84 | 2.52 | 2.16 | 3.33 | 2.19 | 2.32 | 3.35 |
| DII | 0.04 | 0.65 | 3.32 | 3.31 | 3.28 | 2.64 | 1.03 | 0.88 | 1.69 | 1.27 |
| Public | 48.73 | 47.6 | 48.9 | 48.73 | 48.05 | 49.05 | 49.43 | 48.73 | 52.78 | 52.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.98 | 2.98 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 3.24 | 3.24 | 3.24 |
| FII | 0.1 | 0.13 | 0.11 | 0.12 | 0.16 | 0.14 | 0.22 | 0.15 | 0.17 | 0.25 |
| DII | 0 | 0.04 | 0.21 | 0.21 | 0.21 | 0.17 | 0.07 | 0.06 | 0.13 | 0.09 |
| Public | 2.93 | 2.86 | 3.17 | 3.15 | 3.11 | 3.18 | 3.2 | 3.28 | 3.96 | 3.91 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 6.01 | 6.01 | 6.47 | 6.47 | 6.47 | 6.47 | 6.47 | 6.72 | 7.5 | 7.5 |
* The pros and cons are machine generated.
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