1 hr ago
Man Industries Shares Surge After Rs 600 Crore Orders
Man Industries makes large steel pipes for uses such as oil, gas, water, and infrastructure projects.
The company received new orders worth Rs 600 crore.
The customers are from India and other countries, but their names were not shared.
Man Industries expects to complete the orders within six to nine months.
These orders increased the company’s unfinished order book to nearly Rs 4,100 crore.
Investors reacted positively to the announcement.
The shares rose more than 19% during Thursday’s trading and reached a new yearly high.
The company also reported much higher profit and revenue in the first quarter of FY27.
Man Industries (India) won pipe supply orders worth Rs 600 crore from undisclosed domestic and international clients.
The contracts include various types of pipes and are scheduled for execution within six to nine months.
The company’s total unexecuted order book has reached nearly Rs 4,100 crore.
Its shares climbed over 19% intraday to a 52-week high of Rs 944 before closing 10% higher at Rs 876.45 on the NSE.
In Q1 FY27, net profit rose 167% year-on-year to Rs 77.95 crore, while revenue increased 41% to Rs 1,009.92 crore.
- Who
- Man Industries (India), a Mumbai-based pipe manufacturer, and its undisclosed domestic and international clients.
- What
- Man Industries won pipe supply contracts worth Rs 600 crore.
- Where
- The company is based in Mumbai, and the orders are from domestic and international clients.
- When
- The orders were announced on Thursday; they are expected to be executed within six to nine months. Q1 FY27 covered the April-June quarter.
- Why
- The company said the orders reflect a robust business environment and customer trust in its technological and execution capabilities.
Key facts
- New order value
- Rs 600 crore
- Order execution period
- Six to nine months
- Total unexecuted order book
- Nearly Rs 4,100 crore
- Intraday share high
- Rs 944, a new 52-week high
- Closing share price
- Rs 876.45 on the NSE, up 10%
- Q1 FY27 net profit
- Rs 77.95 crore, up 167% year-on-year
- Q1 FY27 revenue
- Rs 1,009.92 crore, up 41% year-on-year
Quotes
Man Industries (India)
The Mumbai-based pipe manufacturer commenting in its exchange filing
“These orders reflect the robust business environment and showcases the trust the customers have in the company’s technological and executional capabilities”
financialexpress.com
Sources
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