Shares of this smallcap company jumped upto 3 percent in Tuesday’s trading session after receiving an export order worth Rs. 505 crores. In one year, the shares have delivered a multibagger return of 186 percent to its shareholders.
With a market capitalization of Rs. 2,356 crores, the shares of Man Industries (India) Ltd started Tuesday’s trading session on a lower note at Rs. 371.40 compared to its previous close of Rs. 372.75. During the trading session, the shares hit a high of Rs. 387.80, gaining around 3 percent and closed the day at Rs. 370 apiece.
According to the exchange filing, Man Industries received new export orders for the supply of various types of Pipes of approximately Rs.505 crores and the orders as to be executed in the next 6 to 8 months. As of 21st May 2024, the company has a total unexecuted order book at approximately Rs. 2,100 crores.
Looking at the company’s financial statements, the revenue decreased by 18 percent from Rs. 1,018 crores during the September quarter to Rs. 833 crores in the December quarter. On the other hand, the net profits declined by 21 percent from Rs. 39 crores to Rs. 31 crores during the same period.
According to the latest shareholding pattern, Ace Investor Mr Ashish Kacholia bought a fresh stake in the company’s shares during the recent quarter by acquiring approximately 13.62 lakh equity shares equivalent to 2.1 percent and the current holding value of his investment amounts to Rs. 49.6 crores.
The company has three state-of-the-art manufacturing facilities with 2 facilities located in Anjar, Gujarat having 2 LSAW line Pipe units and 2 HSAW Line Pipe units, 1 ERW unit and also for various types of Anti-Corrosion Coating Systems and 1 facility in Pithampur, Madhya Pradesh, having a total installed capacity of over more than 1.15 Mn MTPA.
Moreover, the company has already completed one round of capex, which has added 1.5 million tonnes per annum (mtpa) new capacity to its existing 10 mtpa.
Furthermore, Man Industries has a strong global reach. It has supplied to marquee domestic and international clients such as GAIL, IOCL, HPCL, BPCL, ONGC, Reliance, Adani, SHELL, Kinder Morgan, Kuwait Oil Company, Hyundai Engineering and Construction Ltd., and many more.
Additionally, the company is also bidding for hydrogen pipe projects in Europe and has outstanding bids for large export orders.
Headquartered in Maharashtra, Man Industries (India) was incorporated in 1988. The company is one of the largest Manufacturers and Exporters of LSAW and HSAW pipes in India with a total installed capacity of 1 million tonnes. The company is among the leading manufacturers of large-diameter pipes with 3 Decades of presence in the Pipe Industry.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
