Multibagger stock engaged in manufacturing and trading of steel pipes used in oil and gas, the hydrogen industry, and other industries jumped 5 percent in the day’s trade upon receiving a work order worth Rs. 525 Crores
With a market capitalization of Rs. 2,495 Crores, the shares of Man Industries Limited were trading at Rs. 415, up 2.43 percent from its previous day’s close price of Rs. 405.15. It has delivered multibagger returns of 371 percent in a year.
Man Industries Limited has received a new order worth Rs. 525 Crores for the supply of various types of pipes from Domestic/International Customers. The order is to be executed in the next 6-7 months.
Man Industries Limited has a total unexecuted order book of ~Rs. 1600 Crores that is to be executed in the next 6-7 months. It has also been awarded with the Certificate of Appreciation for being the Top Exporter of Kandla Customs for the financial year 2023-24 for its work undertaken in the field of export.
Recently Ace Investor Ashish Kacholia was allotted 13.62 lakh equity shares in Man Industries at Rs. 367 for a consideration of ~Rs.50 Crores, on a preferential basis.
Man Industries Limited also achieved a significant milestone after the successful testing of its pipes for safe hydrogen transportation conducted by a leading European Research Centre for hydrogen transport.
Man Industries Limited is engaged in the business of manufacturing and trading longitudinal submerged arc welded (LSAW) and helically submerged arc welded (HSAW) pipes used for various purposes in industries such as oil & gas, water supply, sewerage, agriculture, construction, and many more.
It has made Further diversification into Seamless Stainless Steel Pipe to serve the Chemical, Oil and gas, and Fertilizers industry.
It has a strong customer base with well-known players like Reliance, Larsen & Toubro, ONGC, Adani, Shell Global Solutions, BPCL, IOCL, Kuwait Oil Compan and many more.
Its revenue from operations grew 4.34 percent, from Rs. 2,139 Crores in FY22 to Rs. 2,231 Crores in FY23, accompanied by profits of Rs. 102 Crores to Rs. 68 Crores.
Written by: Bharath K.S
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