Man Industries (India) glitters

Man Industries (India) has successfully commissioned 5600 Ton Hydraulic JCO press at its Gujarat plant.  The company has been developed indigenously with in-house research, development and technical knowhow. It has created a distinct edge over other industry peers by joining the elite league of a few Line Pipe players in niche sector across the globe. Man Industries (India) is having capability to manufacture high grade steel line pipes in low diametre with high wall thickness with diametres up to 56" and thicknesses up to 55 mm.

The augmented facility of Man Industries (India) will add new milestones and open new markets across the globe in high margin Line Pipe segment in future.

On financial front, revenue of Man Industries (India) has increased by 1.96 per cent to Rs 1391 crore in FY16 as compared to previous fiscal year. The company’s EBITDA too has risen by 5.26 per cent to Rs 120 crore in FY16 on a yearly basis. Its net profit also has increased by 65.32 per cent to Rs 83.29 crore in FY16 as compared to the previous financial year.

The share price of Man Industries (India) has increased by 4.04 per cent on bourses in early trades; and is trading at Rs 61 on an intraday basis.

Man Industries (India) is engaged in the manufacturing and coating of large diametre carbon steel pipes, infrastructure, and realty and trading. The company is a manufacturer and exporter of large diametre carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable water.