MAN INDUSTRIES (I) LTD.·STEEL PIPES 57.39STEEL 59.35·Industrial Products Companies

2026-08-21 NSE BSE Web 20% Result 11 Aug

Price

715.4

+5.68%
O:684
H:735
L:681.3
C:715.4

52W Range

302.05735
+137%/-3%

Market Cap

₹5,366.18 Cr

Traded: ₹200.10 Cr (3.73%) 0.0x

Free Float: ₹2,391.17 Cr (8.37% of FF traded)

Volume · 60D trend

27.82 L 0.0x

Delivery: % 0.0x

View Delivery Data

Returns

1W:+0% 1M:+34% 3M:+22% 6M:+33% 12M:+61%

Valuation

P/E26.3
P/B2.6
P/S1.4
EV/EBIT7.8

Business Strength

ROE10.2%
ROCE16.2%
OPM12.3%
NPM4.8%

Growth (3Y CAGR)

EPS-3.9%
Sales+17.0%
Profit+43.0%
3Y Return+62.0%

Balance Sheet

Debt/Equity0.3
Debt628 Cr
Pledge20.0%
CWIP/Fixed Asset37.7%

Cash Position

CFO/NP--
FCF-86.3 Cr
FCF 3Y Avg55.4 Cr
Cash/MCap12.0%

Others

Div Yield0.5%
Div Payout0.0%
Cash Conv. Cycle114 days
Tradeable Free Float44.6%

MTF Exposure Trend

60 sessions · funded amount, % of FF, daily delta

Current
₹ 85.76 Cr
3.59% FF
60d high
₹ 97.00 Cr
60d low
₹ 69.85 Cr
60d mean
₹ 88.48 Cr
vs mean
▼ 3.08%

Growth Trends

Metric10Y5Y3Y1YTTMTrend
Sales
+10.0%
+11.0%
+17.0%
--
+2.0%
Stable
ROE
+9.0%
+9.0%
+9.0%
--
--
Stable
Return
+27.0%
+41.0%
+62.0%
+59.0%
--
Stable
Profit
+7.0%
+11.0%
+43.0%
--
+13.0%
Stable

Quarterly Results

Jun 2026

11 Aug
Rev
1.1K Cr
----
OPM14.0%
NPM--
PAT
--61 Cr
EPS
--8.2

Mar 2026

26 May
Rev
1.2K Cr
-5% YoY+39% QoQ
OPM12.0%
NPM4.4%
PAT
-25% YoY51 Cr
EPS
-36% YoY6.8

Dec 2025

9 Feb
Rev
830 Cr
+13% YoY-0% QoQ
OPM15.0%
NPM6.6%
PAT
+61% YoY55 Cr
EPS
+39% YoY7.3

Sep 2025

PDF
Rev
834 Cr
+3% YoY+12% QoQ
OPM15.0%
NPM4.4%
PAT
+16% YoY37 Cr
EPS
+0% YoY4.9

Jun 2025

PDF
Rev
742 Cr
-1% YoY-39% QoQ
OPM7.0%
NPM3.8%
PAT
+45% YoY28 Cr
EPS
+40% YoY4.1

Mar 2025

PDF
Rev
1.2K Cr
+50% YoY+66% QoQ
OPM10.0%
NPM5.6%
PAT
+182% YoY68 Cr
EPS
+182% YoY10.5

Dec 2024

PDF
Rev
732 Cr
-12% YoY-9% QoQ
OPM11.0%
NPM4.6%
PAT
+12% YoY34 Cr
EPS
+4% YoY5.3

Sep 2024

PDF
Rev
806 Cr
-21% YoY+8% QoQ
OPM8.0%
NPM4.0%
PAT
-18% YoY32 Cr
EPS
-24% YoY4.9

Jun 2024

PDF
Rev
749 Cr
+53% YoY-8% QoQ
OPM5.0%
NPM2.5%
PAT
+70% YoY19 Cr
EPS
+57% YoY2.9

Mar 2024

PDF
Rev
811 Cr
+36% YoY-3% QoQ
OPM7.0%
NPM3.0%
PAT
-19% YoY24 Cr
EPS
-25% YoY3.7

Dec 2023

PDF
Rev
833 Cr
+27% YoY-18% QoQ
OPM8.0%
NPM3.7%
PAT
-18% YoY31 Cr
EPS
-18% YoY5.1

Sep 2023

PDF
Rev
1.0K Cr
+119% YoY+108% QoQ
OPM7.0%
NPM3.8%
PAT
+867% YoY39 Cr
EPS
+865% YoY6.5

Jun 2023

PDF
Rev
490 Cr
-4% YoY-18% QoQ
OPM10.0%
NPM2.2%
PAT
+14% YoY11 Cr
EPS
--1.9

Mar 2023

Rev
598 Cr
-3% YoY-9% QoQ
OPM7.0%
NPM5.0%
PAT
+13% YoY30 Cr
EPS
--5.0

Dec 2022

Rev
658 Cr
--+42% QoQ
OPM9.0%
NPM5.6%
PAT
+19% YoY37 Cr
EPS
--6.2

Sep 2022

Rev
465 Cr
----
OPM3.0%
NPM-1.1%
PAT
-121% YoY-5 Cr
EPS
---0.8

Revenue & Margin Trends

Annual

Quarterly

Balance Sheet Health

Leverage

Debt / Equity0.30
Interest Coverage--x
Promoter Pledge20.0%
Borrowings628 Cr

Efficiency

Receivable Days103 days
Inventory Days251 days
Payable Days241 days
Cash Conversion cycle114 days

Cash Position

Operating Cash Flow--
Investing Cash Flow--
Financing Cash Flow--
Free Cash Flow-86 Cr

Detailed Financials

Jun 2026PDF ↗
Mar 2026PDF ↗
Dec 2025PDF ↗
Sep 2025PDF ↗
Jun 2025PDF ↗
Mar 2025PDF ↗
Dec 2024PDF ↗
Sep 2024PDF ↗
Jun 2024PDF ↗
Mar 2024PDF ↗
Dec 2023PDF ↗
Sep 2023PDF ↗
Jun 2023PDF ↗
Mar 2023
Dec 2022
Sep 2022
Sales1,0531,1578308347421,2187328067498118331,018490598658465
Expenses9101,0187037136931,097653742711752768948444557599450
Operating Profit1431401281214912179643858657047415915
OPM %14.0%12.0%15.0%15.0%7.0%10.0%11.0%8.0%5.0%7.0%8.0%7.0%10.0%7.0%9.0%3.0%
Other Income1288-19311561120141421411142
Interest405238303035262118252022216129
Depreciation30232122131111111315161515111111
Profit Before Tax857376493891474328324354143449-3
Tax %28.0%30.0%28.0%25.0%28.0%25.0%27.0%26.0%31.0%26.0%29.0%28.0%22.0%12.0%25.0%63.0%
Net Profit615155372868343219243139113037-5
Exceptional Items--------------------------------
EPS (Rs)8.26.87.34.94.110.55.34.92.93.75.16.51.95.06.2-0.8
Sales Growth (YoY)---5.0%13.4%3.5%-0.9%50.3%-12.1%-20.8%52.7%35.6%26.6%118.9%-3.9%-2.6%----
Sales Growth (QoQ)--39.4%-0.5%12.4%-39.1%66.4%-9.2%7.6%-7.6%-2.6%-18.2%107.8%-18.1%-9.1%41.5%--
OP Growth (YoY)191.8%15.7%62.0%89.1%28.9%108.6%21.5%-8.6%-19.1%41.5%10.2%366.7%--------
OP Growth (QoQ)2.1%9.4%5.8%146.9%-59.5%53.2%23.4%68.4%-34.5%-10.8%-7.1%48.9%14.6%-30.5%293.3%--
Profit Growth (YoY)---25.0%61.0%16.0%45.0%182.0%12.0%-18.0%70.0%-19.0%-18.0%867.0%14.0%13.0%19.0%-120.8%
EPS Growth (YoY)---35.6%39.3%0.2%39.8%182.3%3.5%-24.3%57.2%-24.8%-17.8%864.7%--------
EPS Growth (QoQ)---7.6%48.9%19.9%-61.0%99.8%7.1%67.3%-21.2%-26.7%-21.7%247.6%-62.3%-19.9%828.2%--
OP Margin--12.1%15.4%14.5%6.6%9.9%10.8%7.9%5.1%7.2%7.8%6.9%9.6%6.9%9.0%3.2%
Net Margin--4.4%6.6%4.4%3.8%5.6%4.6%4.0%2.5%3.0%3.7%3.8%2.2%5.0%5.6%-1.1%
Material Cost %--46.5%59.9%72.2%79.5%80.0%71.4%76.3%83.1%78.9%75.8%79.6%67.4%76.7%79.0%82.0%
Employee Cost %--2.5%2.7%2.4%2.7%1.7%2.2%2.4%2.7%2.2%2.0%1.9%3.0%2.5%2.0%3.0%
P/S1.381.181.160.98------------------------
P/E26.2624.1420.8118.60------------------------
P/B2.572.012.141.76------------------------

Shareholding Pattern

Shareholders:50.9K (+35.6%)
Current MixMar 2026

Exchange Filings

50
Company Update18 Aug 2026

As per the attachment.

Company Update14 Aug 2026

As per the attachment.

Company Update13 Aug 2026

We are enclosing herewith the newspaper advertisement in respect of Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30.06.2026.

Company Update12 Aug 2026

As per the attachment.

Company Update12 Aug 2026

As per the attachment.

Company Update12 Aug 2026

As per the attachment.

Company Update12 Aug 2026

As per the attachment.

Board Meeting11 Aug 2026

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at their meeting held ....

Result11 Aug 2026

As per the attachment.

Company Update11 Aug 2026

As per the attachment.

Company Update06 Aug 2026

As per the attachment.

Company Update09 Jul 2026

We are enclosing herewith the Certificate under Regulation 74(5) of SEBI (Depositories & Participants) Regulations, 2018 received from MUFG Intime India Private Limited for the quarter ....

Company Update07 Jul 2026

As per the attachment.

Company Update06 Jul 2026

As per the attachment.

Company Update04 Jul 2026

As per the attachment.

Company Update24 Jun 2026

As per the attachment.

Insider Trading / SAST24 Jun 2026

As per the attachment.

Company Update18 Jun 2026

As per the attachment.

Company Update17 Jun 2026

As per the attachment.

Company Update08 Jun 2026

The Exchange has sought clarification from Man Industries (India) Ltd on June 8, 2026, with reference to Movement in Volume. <BR><BR>The reply is awaited.

BSE
Company Update02 Jun 2026

We wish to inform you that CRISIL Ratings Limited has upgraded the Long-Term Ratings of the Company on June 1, 2026.

Company Update01 Jun 2026

We wish to inform you that the transcript of Conference Call held with analysts / investors on Tuesday, May 26, 2026, has been uploaded on the website of the Company.

Company Update28 May 2026

We are enclosing herewith the Annual Secretarial Compliance Report of the Company for the year ended March 31, 2026, issued by M/s Mayank Arora & Co., Practicing Company Secretaries.

Company Update28 May 2026

We are enclosing herewith the Statement of Deviation/ Variation in respect of Preferential Issue of 1219512 Convertible Warrants to Promoters and Preferential Issue of 7774383 Equity Shares ....

Company Update27 May 2026

As per the attachment.

Company Update26 May 2026

Investor and Analyst Presentation in respect of National Pipe Company.

Company Update26 May 2026

Earnings Presentation for the Q4 & FY 26.

Company Update26 May 2026

As per the attachment.

Board Meeting25 May 2026

Pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors of the Company, at its meeting ....

Result25 May 2026

As per the attachment.

Company Update25 May 2026

As per the attachment.

Company Update21 May 2026

We wish to inform that the Company has scheduled a Conference Call for analysts/ investors to discuss earnings of Q4 & FY 26 of the Company on Tuesday, May 26, 2026, at 4:00 P.M. IST.

Company Update21 May 2026

We wish to inform you that Board of Directors at their meeting held today, i.e., Thursday, May 21, 2026, considered and took note of the completion of the transaction in relation to acquisition ....

Others21 May 2026

Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board ....

Company Update21 May 2026

We are enclosing herewith the Monitoring Agency Report for the quarter ended March 31, 2026.

Company Update21 May 2026

We are enclosing herewith the Press Release in respect of Acquisition by Man International Steel Industries Company (MISIC), a wholly owned subsidiary of the Company.

Board Meeting19 May 2026

Man Industries (India) Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 25/05/2026 ,inter alia, to consider and approve the Audited Financial ....

Others22 Apr 2026

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Man Industries (India) ....

Company Update21 Apr 2026

Please refer the attached letter.

Company Update20 Apr 2026

The Exchange has sought clarification from Man Industries (India) Ltd on April 20, 2026 with reference to significant movement in price, in order to ensure that investors have latest relevant ....

BSE
Company Update13 Apr 2026

We are enclosing herewith the Certificate received from MUFG Intime India Private Limited under Regulation 74(5) of SEBI (D&P) Regulations, 2018, for the quarter ended March 31, 2026.

Insider Trading / SAST24 Mar 2026

We wish to inform you that the Trading Window for dealing in securities of the Company will remain closed from April 1, 2026 till 48 hours after the Audited Financial Results (Standalone ....

Company Update05 Mar 2026

As per attachment.

Company Update05 Mar 2026

We wish to inform you that a virtual meet of Investor/Analyst is scheduled to be held on March 11, 2026.

Company Update26 Feb 2026

We are enclosing herewith the newspaper advertisement in respect of Notice of Special Window for Transfer and Dematerialization of Physical Shares.

Company Update12 Feb 2026

We are enclosing herewith the Monitoring Agency Report of the Company for the quarter ended 31.12.2025.

Company Update12 Feb 2026

Pursuant to Regulations 30(2) and 46(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the transcript of the Conference Call held ....

Company Update11 Feb 2026

We are enclosing herewith the Newspaper Advertisements in respect of Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 31.12.2025.

AGM/EGM11 Feb 2026

We are enclosing herewith the Scrutinizer Report dated 11.02.2026 received from M/S Mayank Arora & Co. in respect of the Extra Ordinary General Meeting held on 10.02.2026.

AGM/EGM10 Feb 2026

We are enclosing herewith the Proceedings of the Extra Ordinary General Meeting of the Company held on February 10, 2026.

Annual Reports

15

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

Credit Ratings

6
crisilRating update
10 Oct 2025Report
crisilRating update
28 Mar 2025Report
crisilRating update
24 Sept 2024Report
crisilRating update
23 Feb 2024Report
crisilRating update
27 Nov 2023Report
crisilRating update

Concalls

42

Feb 2026

28 Feb 2026

Nov 2025

30 Nov 2025

Aug 2025

31 Aug 2025

May 2025

31 May 2025

Mar 2025

31 Mar 2025

Feb 2025

28 Feb 2025

Jan 2025

31 Jan 2025

Nov 2024

30 Nov 2024

Nov 2024

30 Nov 2024

Nov 2024

30 Nov 2024

Aug 2024

31 Aug 2024

May 2024

31 May 2024

Mar 2024

31 Mar 2024

Jan 2024

31 Jan 2024

Nov 2023

30 Nov 2023

Aug 2023

31 Aug 2023

Aug 2023

31 Aug 2023

Jun 2023

30 Jun 2023

May 2023

31 May 2023

Mar 2023

31 Mar 2023

Feb 2023

28 Feb 2023

Nov 2022

30 Nov 2022

Aug 2022

31 Aug 2022

May 2022

31 May 2022

May 2022

31 May 2022

Feb 2022

28 Feb 2022

Nov 2021

30 Nov 2021

Aug 2021

31 Aug 2021

Aug 2021

31 Aug 2021

Jun 2021

30 Jun 2021

Jan 2021

31 Jan 2021

Oct 2020

31 Oct 2020

Aug 2020

31 Aug 2020

Jun 2020

30 Jun 2020

Feb 2020

29 Feb 2020

Nov 2019

30 Nov 2019

Aug 2019

31 Aug 2019

May 2019

31 May 2019

Mar 2019

31 Mar 2019

Feb 2019

28 Feb 2019

Nov 2018

30 Nov 2018

Aug 2018

31 Aug 2018