Ashish Kacholia holds 3.04% & Rs 4,750 crore order book: Company signs landmark MoU with Aramco Asia India Pvt Ltd
DSIJ Intelligence-1 / 20 Nov 2025/ Categories: Mindshare, Trending
The stock gave multibagger returns of 485 per cent in just 3 years and a whopping 550 per cent in 5 years.
MAN Industries (India) Limited, a prominent global supplier of API-grade large-diameter carbon steel pipes, has signed a landmark Memorandum of Understanding (MoU) with Aramco Asia India Pvt Ltd (AAI). This agreement is effective immediately for a period of five years and signifies a major step in strengthening energy sector cooperation between India and Saudi Arabia. The core objective of the MoU is to establish a framework for the long-term supply of MAN Industries' product range to Aramco, either directly from MAN Industries or its subsidiaries. Furthermore, it reflects a joint commitment to enhancing local manufacturing capabilities for these products within the Kingdom of Saudi Arabia itself.
A key highlight of the collaboration is the mutual exploration of establishing a state-of-the-art steel pipe manufacturing facility in the Kingdom of Saudi Arabia, which would be undertaken through MAN Industries or one of its subsidiaries. This strategic initiative is designed to support not only the energy, infrastructure and industrial requirements of Saudi Arabia but also those of the wider GCC and the Middle East region. Through this MoU, MAN Industries and Aramco Asia India will jointly develop advanced capabilities, technologies and resources, cementing MAN's position as a crucial supplier to one of the world's leading energy companies.
Mr Nikhil Mansukhani, Managing Director, MAN Industries (India) Limited, said: “This MoU with Aramco Asia India is a testament to MAN’s proven global track record of over three decades in delivering high-quality line pipe solutions to the world’s most prestigious energy projects. We are excited about the opportunity to bring our manufacturing excellence and technical expertise to the Kingdom of Saudi Arabia.”
About the Company
Founded in 1970 by the Mansukhani family, MAN Industries (India) Ltd. has established itself as a global leader and exporter of large-diameter carbon steel line pipes, specialising in LSAW & HSAW pipes, ductile iron pipes and advanced coating systems. The company, which is the flagship of the MAN Group, operates two ISO-certified, world-class facilities in India with a combined capacity exceeding 1.2 million tonnes per annum (MTPA). Currently, MAN Industries is executing a significant Rs 1,200 crore expansion project to enter the high-value stainless-steel seamless pipe segment and is also establishing a new international plant in Dammam, Saudi Arabia, further cementing its role as a trusted supplier for major oil & gas companies and infrastructure developers across more than 30 countries.
Man Industries Ltd has a market cap of over Rs 3,400 crore and the current unexecuted Order Book as of today stands at Rs 4,750 crore. An Ace Investor, Ashish Kacholia, owns a 3.04 per cent stake in the company as of September 2025. The stock gave multibagger returns of 485 per cent in just 3 years and a whopping 550 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.