New orders worth about Rs 1,000 crores; order book at Rs 4,100 crores
MANINDS · price
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On the reaction day the stock moved 1.5 pts less than Nifty Microcap 250 and 1.6 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Man Industries and its Saudi step-down subsidiary NPC have bagged new orders of about Rs 1,000 crores (Rs 300 crores for MIIL, Rs 700 crores for NPC) for supply of pipes to domestic and international customers. Deliveries are expected in 6-9 months. With this, the consolidated unexecuted order book rises to about Rs 4,100 crores, providing strong revenue visibility.
Positive. Large order wins strengthen near-term revenue and earnings visibility over the next 6-9 months.