Man Industries (India) Ltd

Man Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Man Industries (India) Ltd

₹ 531 -1.13%
08 Jun 9:27 a.m.
mangroup.com BSE: 513269 NSE: MANINDS
About

Man Industries Ltd. 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 leading manufacturer of large diameter pipes with 3 Decades of presence in Pipe
Industry.

Key Points

Business Profile[1]
MAN Industries is a leading manufacturer of large-diameter carbon steel line pipes, catering to high-pressure transmission applications in oil & gas, water supply, and structural industries.

Website BSE NSE
  • Market Cap ₹ 3,986 Cr.
  • Current Price ₹ 531
  • High / Low ₹ 607 / 302
  • Stock P/E 20.4
  • Book Value ₹ 256
  • Dividend Yield 0.00 %
  • ROCE 19.6 %
  • ROE 11.7 %
  • Face Value ₹ 5.00
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Pros

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 10.5% over last 3 years.
  • Debtor days have increased from 81.7 to 101 days.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Iron & Steel Products

Part of BSE Industrials

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
555 464 1,008 830 778 732 805 731 850 713 782 804 1,157
513 417 936 766 732 695 736 659 786 667 670 677 1,003
Operating Profit 42 47 72 65 46 36 69 72 64 46 112 127 154
OPM % 7% 10% 7% 8% 6% 5% 9% 10% 8% 6% 14% 16% 13%
12 4 23 21 18 25 9 15 37 35 -13 13 18
Interest 11 21 22 20 24 18 21 26 35 30 30 38 55
Depreciation 11 15 15 15 15 12 10 11 10 12 21 20 22
Profit before tax 31 15 58 50 25 32 46 50 57 39 48 82 95
Tax % 14% 21% 26% 25% 32% 25% 24% 25% 29% 25% 25% 25% 26%
27 12 43 37 17 24 35 38 40 29 36 61 70
EPS in Rs 4.48 1.98 7.23 6.18 2.66 3.73 5.42 5.81 6.23 4.33 4.75 8.12 9.36
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,364 1,392 1,060 1,572 2,215 1,759 2,075 2,094 2,092 3,080 3,118 3,455
1,249 1,274 1,015 1,450 2,039 1,593 1,870 1,914 1,957 2,850 2,876 3,016
Operating Profit 115 118 46 123 177 166 205 180 136 230 242 440
OPM % 8% 8% 4% 8% 8% 9% 10% 9% 6% 7% 8% 13%
38 69 74 54 21 14 31 37 40 66 86 53
Interest 46 56 36 43 64 64 53 37 41 87 99 154
Depreciation 42 37 40 39 46 52 46 45 45 60 43 76
Profit before tax 64 93 43 95 87 64 136 135 90 149 186 263
Tax % 17% 7% 25% 34% 34% 15% 26% 25% 25% 26% 26% 26%
54 86 33 63 57 54 101 101 67 110 137 196
EPS in Rs 9.38 15.06 5.72 11.01 10.05 9.45 17.62 17.11 11.19 16.95 21.18 26.11
Dividend Payout % 16% 10% 26% 14% 15% 11% 11% 0% 18% 12% 0% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: 11%
3 Years: 18%
TTM: 11%
Compounded Profit Growth
10 Years: 9%
5 Years: 14%
3 Years: 49%
TTM: 45%
Stock Price CAGR
10 Years: 27%
5 Years: 38%
3 Years: 57%
1 Year: 35%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 11%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 29 29 29 29 29 29 29 30 30 32 32 38
Reserves 460 541 572 625 673 716 804 911 973 1,246 1,386 1,885
443 353 447 374 244 301 303 64 303 323 371 535
517 327 313 679 650 785 655 817 421 681 1,682 2,088
Total Liabilities 1,448 1,249 1,361 1,706 1,596 1,831 1,791 1,822 1,727 2,282 3,472 4,545
354 347 343 355 396 368 337 313 483 504 499 683
CWIP 3 19 5 63 3 4 1 16 3 31 94 26
Investments 102 105 105 129 131 133 133 133 136 368 216 309
989 780 908 1,158 1,066 1,326 1,320 1,360 1,105 1,379 2,664 3,527
Total Assets 1,448 1,249 1,361 1,706 1,596 1,831 1,791 1,822 1,727 2,282 3,472 4,545

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
112 208 -76 160 138 213 -60 438 -112 309 95 293
-60 3 20 -107 0 -46 4 -109 -126 -260 -24 -540
-82 -191 43 -140 -138 -36 -63 -267 187 83 -73 183
Net Cash Flow -30 19 -13 -88 -0 131 -119 62 -51 132 -2 -65
Free Cash Flow 118 161 -99 46 111 203 -72 402 -311 215 1 228
CFO/OP 109% 192% -134% 147% 93% 144% -11% 269% -63% 149% 57% 78%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 125 65 111 85 88 89 112 94 85 41 104 101
Inventory Days 46 44 49 130 47 110 85 72 24 55 141 206
Days Payable 135 75 94 179 120 162 133 178 75 78 181 251
Cash Conversion Cycle 36 33 66 36 14 37 64 -11 33 17 64 56
Working Capital Days 24 36 50 20 13 -19 29 21 36 17 40 27
ROCE % 11% 16% 8% 14% 15% 13% 17% 16% 10% 16% 17% 20%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Dec 2018 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2025
Total Installed Capacity
Million MTPA

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Annual Production Volume
Metric Tons (MT)
Order Book Value
INR Crores
Pipes Supplied Since Inception
KM
Order Bid Pipeline
INR Crores
Export Share of Order Book
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
45.68% 49.61% 49.61% 46.15% 46.12% 46.15% 46.15% 46.20% 48.21% 43.21% 43.21% 43.21%
2.22% 1.61% 2.14% 1.64% 1.84% 2.52% 2.16% 3.33% 2.19% 2.32% 3.35% 2.41%
0.04% 0.04% 0.64% 3.31% 3.31% 3.27% 2.64% 1.03% 0.88% 1.68% 1.26% 1.34%
52.05% 48.72% 47.60% 48.90% 48.72% 48.05% 49.05% 49.43% 48.73% 52.77% 52.18% 53.03%
No. of Shareholders 31,53934,33035,19344,20646,29553,58256,98456,40559,25754,42551,82250,913

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings

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