Man Industries (India) Limited has informed the Exchange regarding Resignation of Heena Vinay Kalantri as Non- Executive Director of the company w.e.f. March 31, 2025.
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Man Industries reported its audited financial results for Q4 and FY25 at a board meeting on May 12, 2025. Standalone revenue from operations rose marginally to Rs 3,11,822 lakhs (vs Rs 3,08,010 lakhs in FY24), while net profit jumped about 25% to Rs 13,712 lakhs (vs Rs 10,974 lakhs). Basic EPS stood at Rs 21.18 for the year, and the company has an order book of approximately Rs 2,500 crores to be executed in 6-12 months. The board approved the transfer of its stake in Man International Steel Industries to its wholly owned UAE subsidiary, Man Overseas Metals DMCC. Mrs. Heena Vinay Kalantri (a member of the promoter Kalantri family) resigned as Non-Executive Director effective March 31, 2025. The auditor issued an unmodified opinion on standalone results but a modified opinion on consolidated results.
Shareholders will view the strong profit growth and healthy order book positively, though the modified audit opinion on consolidated results, an ongoing SEBI forensic audit, MCA non-compliance notices, and a promoter family director's exit are governance concerns worth monitoring. These could keep some short-term pressure on sentiment despite the operational improvement.