Man Industries (India) Ltd

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

Man Industries (India) Ltd

₹ 508 1.35%
01 Jun 11:24 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 ₹ 3,808 Cr.
  • Current Price ₹ 508
  • High / Low ₹ 607 / 302
  • Stock P/E 22.3
  • Book Value ₹ 278
  • Dividend Yield 0.00 %
  • ROCE 16.2 %
  • ROE 9.23 %
  • 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 9.17% over last 3 years.
  • Debtor days have increased from 79.3 to 103 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

Consolidated Figures in Rs. Crores / View Standalone

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
598 490 1,018 833 811 749 806 732 1,218 742 834 830 1,157
557 444 948 768 752 711 742 653 1,097 693 713 703 1,018
Operating Profit 41 47 70 65 58 38 64 79 121 49 121 128 140
OPM % 7% 10% 7% 8% 7% 5% 8% 11% 10% 7% 15% 15% 12%
11 4 21 14 14 20 11 6 15 31 -19 8 8
Interest 6 21 22 20 25 18 21 26 35 30 30 38 52
Depreciation 11 15 15 16 15 13 11 11 11 13 22 21 23
Profit before tax 34 14 54 43 32 28 43 47 91 38 49 76 73
Tax % 12% 22% 28% 29% 26% 31% 26% 27% 25% 28% 25% 28% 30%
30 11 39 31 24 19 32 34 68 28 37 55 51
EPS in Rs 4.96 1.87 6.50 5.09 3.73 2.94 4.92 5.27 10.53 4.11 4.93 7.34 6.78
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 1,608 2,222 1,759 2,080 2,139 2,231 3,142 3,505 3,564
1,250 1,272 1,012 1,483 2,044 1,591 1,875 1,958 2,094 2,901 3,204 3,125
Operating Profit 114 120 48 125 178 168 205 181 137 241 301 439
OPM % 8% 9% 5% 8% 8% 10% 10% 8% 6% 8% 9% 12%
35 67 72 53 21 14 31 37 39 52 52 29
Interest 46 56 36 43 64 64 53 37 41 88 100 152
Depreciation 43 37 40 39 46 52 46 45 46 61 45 79
Profit before tax 60 93 44 95 88 65 137 135 89 144 208 237
Tax % 17% 7% 24% 33% 33% 15% 26% 25% 25% 27% 26% 28%
50 86 34 64 59 56 101 102 67 105 153 170
EPS in Rs 8.82 15.14 5.88 11.15 10.30 9.72 17.66 17.16 11.15 16.24 23.66 22.73
Dividend Payout % 17% 10% 26% 13% 15% 10% 11% 0% 0% 12% 0% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: 11%
3 Years: 17%
TTM: 2%
Compounded Profit Growth
10 Years: 7%
5 Years: 11%
3 Years: 43%
TTM: 13%
Stock Price CAGR
10 Years: 26%
5 Years: 40%
3 Years: 52%
1 Year: 33%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 454 538 570 624 673 718 806 913 1,102 1,372 1,575 2,049
495 353 447 368 244 294 296 57 301 326 476 628
522 323 311 678 648 787 655 821 427 684 1,696 2,306
Total Liabilities 1,499 1,243 1,356 1,698 1,594 1,827 1,786 1,820 1,860 2,415 3,779 5,021
416 349 346 355 396 368 337 318 553 605 643 864
CWIP 3 19 5 63 3 4 1 20 14 31 133 326
Investments 3 104 104 103 102 102 103 102 0 228 26 71
1,077 771 902 1,176 1,093 1,353 1,345 1,379 1,293 1,552 2,977 3,760
Total Assets 1,499 1,243 1,356 1,698 1,594 1,827 1,786 1,820 1,860 2,415 3,779 5,021

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
64 205 -75 132 137 214 -60 451 -120 345 68 515
-61 2 21 -105 0 -46 4 -119 -135 -279 -41 -594
-35 -188 41 -115 -138 -37 -63 -267 211 86 30 136
Net Cash Flow -31 19 -13 -88 -1 131 -119 65 -45 152 56 57
Free Cash Flow 69 158 -98 22 111 204 -72 405 -328 228 -86 175
CFO/OP 68% 186% -123% 123% 92% 144% -11% 275% -68% 157% 40% 119%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 130 70 117 87 91 93 115 93 81 41 93 103
Inventory Days 92 44 49 126 47 110 85 73 84 98 190 251
Days Payable 135 75 94 174 121 162 133 174 70 76 180 241
Cash Conversion Cycle 87 39 71 39 17 41 67 -8 95 63 104 114
Working Capital Days 62 34 46 25 17 -14 34 23 69 33 38 29
ROCE % 10% 16% 8% 14% 16% 13% 17% 16% 10% 14% 16% 16%

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

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Credit ratings

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