Man Industries (India) Limited has informed the Exchange regarding a press release dated September 30, 2025, titled "Press Release / Media Release in respect of SEBI Order and Strong Business Outlook".
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Man Industries has informed exchanges about a SEBI order dated September 29, 2025, related to legacy issues from FY2015–FY2021 around non-consolidation of its subsidiary Merino Shelters Pvt. Ltd (MSPL) and minor compliance lapses. The company has been consolidating MSPL's financials since FY24, and the issues are described as historical with no misrepresentation. A penalty of just ₹25 lakhs has been imposed, and importantly, there is no restriction on trading of the company's own shares. The company is restrained from trading in other companies' shares for 2 years, but this is not part of its normal business. On the business front, the company highlighted a record order book of ₹4,700 crores with better margins, sale of the MSPL asset yielding ₹70 crores upfront with ₹650–700 crores more expected over 5–6 years, and capex projects on track for Q4 FY26 completion.
The SEBI order is non-material with only a ₹25 lakh penalty and no impact on share trading, so it should not worry shareholders. The strong order book, improving margins, and asset monetisation support a positive growth outlook, though the company has reserved the right to legally challenge the order.