Earnings Presentation for the Q4 & FY 26.
MANINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Man Industries reported record standalone margins for FY26 with EBITDA at 14.0% and PAT at 5.6%, both all-time highs expanding 360 bps and 130 bps respectively. Q4 FY26 standalone revenue grew 36% YoY to ₹1,157 crore with EBITDA margins of 14.6%. Key strategic moves include acquiring National Pipe Company in Saudi Arabia for USD 102 million (~₹1,000 crore) and signing a 5-year MoU with Aramco Asia India. The Jammu greenfield plant is on track for December 2026 completion. The company maintains a strong balance sheet with ₹657 crore cash, net cash position of ₹157.5 crore, and free cash flow of ₹132 crore despite ₹340 crore capex. FY27 revenue guidance is set at ₹5,000-5,500 crore with EBITDA margin of 13-15%.
The strong order book of ₹3,000 crore provides 6-12 months revenue visibility, and record margin expansion demonstrates operational efficiency. Management's FY27 revenue guidance signals confidence, though the shift to DDP model explains higher expenses without margin impact. The Saudi acquisition and Aramco partnership enhance long-term growth prospects in the oil & gas sector.