Man Industries (India) Limited has informed the Exchange about Investor Presentation
MANINDS · price
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Man Industries shared its Q1 FY26 earnings presentation reporting standalone revenue of ₹713 crore, down 16% QoQ but only 2.6% lower YoY, while EBITDA grew 30% YoY to ₹80.7 crore with margins expanding to 10.8% from 8.2% a year ago. The company has a robust executable order book of ₹3,200 crore (delivery in 6-12 months) supported by a ₹15,000 crore bid pipeline, giving strong revenue visibility. Two greenfield projects — a 22,000 MTPA stainless steel seamless pipe facility in Saudi Arabia (₹590 crore cost) and a 3,00,000 MTPA H-SAW pipe plant in Jammu (₹600 crore cost) — are on track for Q3/Q4 FY26 commissioning, with expected EBITDA margins of 12-14% and 18-22% respectively. Q1 export shipments were delayed due to vessel availability issues linked to the Iran-Israel conflict, but those volumes are expected to be recognised in the current quarter.
Despite weak QoQ performance, the healthy order book, large bid pipeline, and margin-accretive expansion projects in Saudi Arabia and Jammu provide a positive multi-year growth outlook. The delayed export shipments could support Q2 FY26 numbers, potentially acting as a short-term positive trigger for the stock.