Man Industries (India) Ltd

Man Industries (India) Ltd

₹ 363 0.25%
28 Mar - close price
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

Product Portfolio
Longitudinal Submerged Arc Welded Pipes (LSAW), Helically Submerged Arc Welded Pipes (HSAW), ERW Pipes, Steel bends & Stainless Steel and Coating (Single layer FBE, Internal blasting & painting, Coal tar Enamel). Company's products are products used across O&G and water sector, Hydro-Carbon & CGD Sectors.[1] Company has supplied 17,000+ KM pipes supplied since inception.[2]

  • Market Cap 2,180 Cr.
  • Current Price 363
  • High / Low 459 / 89.0
  • Stock P/E 20.4
  • Book Value 195
  • Dividend Yield 0.55 %
  • ROCE 10.4 %
  • ROE 6.10 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter

Cons

  • Promoter holding has decreased over last quarter: -3.52%
  • The company has delivered a poor sales growth of 6.78% over past five years.
  • Company has a low return on equity of 9.81% over last 3 years.
  • Promoters have pledged 27.2% of their holding.
  • Dividend payout has been low at 9.67% of profits over last 3 years
  • 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

Sector: Steel Industry: Steel - Medium / Small

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
555 540 404 490 631 614 510 465 658 598 490 1,018 833
487 498 365 448 572 573 488 450 599 557 444 948 768
Operating Profit 67 42 38 42 59 41 22 15 59 41 47 70 65
OPM % 12% 8% 10% 9% 9% 7% 4% 3% 9% 7% 10% 7% 8%
-6 17 7 11 4 16 12 2 14 11 4 21 14
Interest 9 11 9 8 11 10 9 9 12 11 21 22 20
Depreciation 12 11 11 11 12 12 12 11 11 11 15 15 16
Profit before tax 41 37 25 34 41 35 14 -3 49 30 14 54 43
Tax % 25% 30% 23% 27% 23% 25% 29% -63% 25% 14% 22% 28% 29%
31 26 19 24 31 27 10 -5 37 26 11 39 31
EPS in Rs 5.35 4.53 3.38 4.29 5.49 4.48 1.64 -0.85 6.19 4.33 1.87 6.50 5.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,751 1,514 1,005 1,364 1,392 1,060 1,608 2,222 1,759 2,080 2,139 2,231 2,939
1,573 1,322 950 1,250 1,272 1,012 1,483 2,044 1,591 1,875 1,958 2,094 2,717
Operating Profit 177 192 55 114 120 48 125 178 168 205 181 137 222
OPM % 10% 13% 5% 8% 9% 5% 8% 8% 10% 10% 8% 6% 8%
11 -4 31 35 67 72 53 21 14 31 37 40 51
Interest 27 44 42 46 56 36 43 64 64 53 37 41 74
Depreciation 41 40 32 43 37 40 39 46 52 46 45 45 57
Profit before tax 120 104 12 60 93 44 95 88 65 137 135 90 142
Tax % 41% 40% 27% 17% 7% 24% 33% 33% 15% 26% 25% 25%
71 62 9 50 86 34 64 59 56 101 102 68 107
EPS in Rs 12.85 10.41 1.58 8.82 15.14 5.88 11.15 10.30 9.72 17.66 17.16 11.31 17.79
Dividend Payout % 16% 19% 63% 17% 10% 26% 13% 15% 10% 11% 0% 18%
Compounded Sales Growth
10 Years: 4%
5 Years: 7%
3 Years: 8%
TTM: 31%
Compounded Profit Growth
10 Years: -4%
5 Years: -2%
3 Years: 1%
TTM: 56%
Stock Price CAGR
10 Years: 22%
5 Years: 46%
3 Years: 67%
1 Year: 295%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 10%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 28 30 29 29 29 29 29 29 29 29 30 30 30
Reserves 584 625 632 454 538 570 624 673 718 806 911 974 1,142
592 536 438 495 353 447 368 244 294 296 57 299 209
482 399 474 522 323 311 678 648 787 655 822 425 958
Total Liabilities 1,686 1,590 1,573 1,499 1,243 1,356 1,698 1,594 1,827 1,786 1,820 1,728 2,338
434 428 405 416 349 346 355 396 368 337 318 489 575
CWIP 1 3 2 3 19 5 63 3 4 1 20 14 53
Investments 237 15 20 3 104 104 103 102 102 103 102 103 30
1,014 1,144 1,147 1,077 771 902 1,176 1,093 1,353 1,345 1,379 1,122 1,680
Total Assets 1,686 1,590 1,573 1,499 1,243 1,356 1,698 1,594 1,827 1,786 1,820 1,728 2,338

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
690 -443 247 64 205 -75 132 137 214 -60 451 -119
-129 194 -29 -61 2 21 -105 0 -46 4 -119 -135
-687 310 -208 -35 -188 41 -115 -138 -37 -63 -267 209
Net Cash Flow -126 61 10 -31 19 -13 -88 -1 131 -119 65 -45

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 68 80 109 130 70 117 87 91 93 115 93 81
Inventory Days 127 155 52 92 44 49 126 47 110 85 73 25
Days Payable 93 80 162 135 75 94 174 121 162 133 174 70
Cash Conversion Cycle 103 156 -1 87 39 71 39 17 41 67 -8 36
Working Capital Days 48 117 167 94 54 124 64 42 34 84 32 61
ROCE % 10% 17% 5% 10% 16% 8% 14% 16% 13% 17% 16% 10%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
42.62% 42.62% 42.62% 44.70% 45.69% 45.68% 45.68% 45.68% 45.68% 49.61% 49.61% 46.10%
4.39% 1.69% 1.93% 1.84% 1.73% 1.83% 1.65% 1.60% 2.22% 1.61% 2.14% 1.62%
0.20% 0.19% 0.20% 0.19% 0.19% 0.19% 0.19% 0.23% 0.04% 0.04% 0.64% 3.31%
52.78% 55.49% 55.25% 53.27% 52.39% 52.28% 52.47% 52.48% 52.05% 48.72% 47.60% 48.97%
No. of Shareholders 32,87041,42940,93740,64341,97039,46638,74037,54931,53934,33035,19344,197

* 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

Concalls