Man Industries (India)
- Market cap
- ₹ 5,557 Cr.
- P/E
- 27.4x
- P/B
- 2.84x
- 52-week range
- 302.05 – 1,039.7
- ROE
- 9%
- ROCE
- 16%
- Dividend yield
- 0%
- Debt / equity
- 0.3
- Sector
- Industrial Products
- Industry
- Iron & Steel Products
- Listed on
- NSE, BSE
About
Man Industries (India) Limited is an India-based company, which is engaged in the business of manufacturing, processing, and trading of submerged arc welded steel pipes and steel products. It specializes in the manufacturing and coating of large-diameter carbon steel pipes, alongside ventures in infrastructure, realty, and trading. The Company’s segments are Manufacturing and trading in Steel Products and Real Estate. The Company’s LSAW pipes are approximately 16 inches to 56 inches in diameter. LSAW pipes have a maximum length of about 12.20 meters. It also provides various options for coating systems, which include external coating system and internal coating system. It offers external coatings and internal linings that protect steel pipes against corrosion and mechanical impact. The Company’s subsidiaries include Merino Shelters Private Limited, Man Stainless Steel Tubes Limited, Man Overseas Metals DMCC, Man International Steel Industrial Company, and Man USA Inc.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Iron & Steel Products: 148 companies →Man Industries (India) against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)27.4 against a typical 18.6: pricier than most peers (1st = cheapest).93rd of 146
- Sales growth+41.9% against a typical +13.1% from a year earlier.18th of 117
- Profit growth+117.9% against a typical +26.2% from a year earlier.17th of 105
- Share price, 3 months+50% against a typical −3.1%.10th of 135
- Size₹ 5,557 Cr. market value against a typical ₹ 156.5 Cr. (1st = largest).11th of 135
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A+ by CRISIL- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil A+ | Stable | 20 Jul 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 20 Jul 2026 | Reaffirmed | Crisil A+ | — | CRISIL | ₹ 3,120 Cr. | |
| 1 Jun 2026 | ▲ Upgrade1 notch | Crisil A → Crisil A+ | — | CRISIL | ₹ 3,120 Cr. | |
| 2 Jan 2026 | Reaffirmed | Crisil A | — | CRISIL | ₹ 3,120 Cr. | |
| 10 Oct 2025 | Reaffirmed | Crisil A | — | CRISIL | ₹ 3,120 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 11 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 25 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 9 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 13 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 11 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 31 May 2025 | Fund Raising | MANINDS : 31-May-2025 : The Company has informed the Exchange that a Board meeting to be held on May 28, 2025 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on May 31, 2025, To consider Fund Raising |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,018 | 833 | 811 | 749 | 806 | 732 | 1,218 | 742 | 834 | 830 | 1,157 | 1,053 |
| Expenses | 948 | 768 | 752 | 711 | 742 | 653 | 1,097 | 693 | 713 | 703 | 1,018 | 910 |
| Operating Profit | 70 | 65 | 58 | 38 | 64 | 79 | 121 | 49 | 121 | 128 | 140 | 143 |
| OPM % | 7% | 8% | 7% | 5% | 8% | 11% | 10% | 7% | 15% | 15% | 12% | 14% |
| Other Income | 21 | 14 | 14 | 20 | 11 | 6 | 15 | 31 | −19 | 8 | 8 | 12 |
| Interest | 22 | 20 | 25 | 18 | 21 | 26 | 35 | 30 | 30 | 38 | 52 | 40 |
| Depreciation | 15 | 16 | 15 | 13 | 11 | 11 | 11 | 13 | 22 | 21 | 23 | 30 |
| Profit before tax | 54 | 43 | 32 | 28 | 43 | 47 | 91 | 38 | 49 | 76 | 73 | 85 |
| Tax % | 28% | 29% | 26% | 31% | 26% | 27% | 25% | 28% | 25% | 28% | 30% | 28% |
| Net Profit | 39 | 31 | 24 | 19 | 32 | 34 | 68 | 28 | 37 | 55 | 51 | 61 |
| EPS in Rs | 6.5 | 5.09 | 3.73 | 2.94 | 4.92 | 5.27 | 10.53 | 4.11 | 4.93 | 7.34 | 6.78 | 8.19 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 10%
- 5 Years
- 11%
- 3 Years
- 17%
- TTM
- 11%
- 10 Years
- 7%
- 5 Years
- 11%
- 3 Years
- 43%
- TTM
- 26%
- 10 Years
- 30%
- 5 Years
- 42%
- 3 Years
- 63%
- TTM
- —
- 10 Years
- 9%
- 5 Years
- 9%
- 3 Years
- 9%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Man Industries (India) | ₹ 776.90 | ₹ 5,557 Cr. | 27.4x | 2.8x | 9% | — |
| Aegis Logistics | ₹ 1,254.50 | ₹ 44,033 Cr. | 52.7x | 7.8x | 16.8% | 13.3% |
| Deep Industries | ₹ 674.10 | ₹ 4,314 Cr. | 9.7x | 1.5x | 9.4% | 22.1% |
| Asian Energy Services | ₹ 395.00 | ₹ 1,919 Cr. | 27.6x | 3.2x | 11.5% | 6.6% |
| Dolphin Offshore Enterprises (India) | ₹ 550.30 | ₹ 2,228 Cr. | 22x | 4.3x | 21.9% | 58.9% |
| United Drilling Tools | ₹ 176.60 | ₹ 361 Cr. | 23.8x | 1.6x | 7% | 10.5% |
Management
- Ramesh C. Mansukhani
- Executive Chairman of the Board
- Sandeep Kumar
- Chief Financial Officer
- Rahul Rawat
- Compliance Officer, Company Secretary
- Lavin Mansukhani
- Vice President - Marketing and Business Development (International)
- Gurinder Sethi
- Vice President - Marketing and Business Development
- Durgesh Chokade
- Vice President - Anjar Plant
- Jignesh Shah
- Vice President - Projects
- Nikhil R. Mansukhani
- Managing Director, Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.