The shares of the leading manufacturer of Carbon Steel Line Pipes gained 12 percent to an all-time high price of Rs 378.5 per share on Monday’s early trade after the company received an order worth Rs 400 crores.
At 11:55 a.m., Man Industries Ltd shares were trading at Rs 361.95 apiece, up 6.86 percent on the Bombay Stock Exchange from the previous close price.
The Company has received new orders of approximately Rs.400 Crores, for the supply of various types of pipes from domestic and international clients which is expected to be executed in 6 months. Currently, the company has a total unexecuted order book that stands at Rs.1300 Crores, according to the company’s exchange filing.
Looking into the company’s financials, its revenues have increased by 119 percent year on year from Rs 465 crore in Q2FY23 to Rs 1,018 crore in Q2FY24, while the company has turned around its net losses to a profit of Rs 39 crore from a loss of Rs 5 crore.
Man Industries shares have gained multibagger returns of 154 percent in the last six months and multi-bagger returns of 354 percent in a year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 4.54 lakhs in a year.
The company has three state-of-the-art manufacturing facilities with two manufacturing facilities located in Gujarat, and one manufacturing facility in Madhya Pradesh, with a total installed capacity of over 1.15 Mn+ MTPA.
Man Industries Ltd incorporated in 1988, manufactures LSAW Line Pipes, HSAW Line Pipes, and Aluminium Extruded Products.
Man Industries Ltd is a leading manufacturer and exporter of large diameter Carbon Steel Line Pipes for various high-pressure transmission applications for Gas, Crude Oil, Petrochemical Products, and Potable Water.
The company has a strong global reach and supplies its products to marquee domestic and international clients such as GAIL, IOCL, HPCL, BPCL, ONGC, Reliance, Adani, Shell, Kinder Morgan, Kuwait Oil Company, Hyundai Engineering & Construction Ltd., and many more.
As of November, the company has an outstanding bid of Rs.14,000 Crores at various stages of evaluation for several Oil, Gas, and Water projects in India and abroad.
Written by Omkar Chitnis
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