Shares of this smallcap company surged around 8 percent in Monday’s trading session after receiving an order worth Rs. 1,850 crores for the supply of API 5LGrade line pipes. The shares have delivered a multibagger return of 260 percent to its shareholders in one year.
Price Movement:
With a market capitalization of Rs. 3,226 crores, the shares of Man Industries (India) Ltd started Monday’s trading session on a higher note at Rs. 501 compared to its previous close of Rs. 463.85. During the trading session, the shares hit a high of Rs. 513.70, gaining around 8 percent, also recorded as the company’s fresh 52-week high and are currently trading at Rs. 492 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received an order for the supply of API 5L Grade line pipes for an offshore project worth Rs. 1,850 crores.
This order involves supplying API 5L grade line pipes for an offshore project, with delivery scheduled within the next 12 to 18 months.
Financials:
Looking at the company’s financial statements, the revenue decreased by around 3 percent from Rs. 833 crores during the December quarter to Rs. 811 crores in the March quarter. On the other hand, the net profits declined by 23 per cent from Rs. 31 crores to Rs. 24 crores during the same period.
Order book:
With this order, the Man Industries order book will surpass Rs. 4,000 Crores, with exports contributing nearly Rs. 3,650 crores. Additionally, the company is actively bidding for approximately USD 1.5 Billion worth of line pipe projects for upcoming domestic and international ventures.
Prominent Investor:
According to the latest shareholding pattern, Ace Investor Mr Ashish Kacholia bought a fresh stake in the company’s shares during the March 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. 66.7 crores.
Customer Base:
Man Industries possesses a robust global presence, having served prestigious domestic and international clients including GAIL, IOCL, HPCL, BPCL, ONGC, Reliance, Adani, SHELL, Kinder Morgan, Kuwait Oil Company, Hyundai Engineering and Construction Ltd., among others.
Company Profile:
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
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