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Companies›Industrials›Capital Goods›Industrial Products
NSE:MANINDS

MAN INDUSTRIES (I) LTD.

Capital Goods › Industrial Products
₹775.15
at close · 28 Oct 2026
▼ 18.80 (-2.37%)

Latest filings

  1. RTA confirms share demat processing for July to September 2026 quarter · Compliance
  2. Man Industries 38th AGM: All 4 resolutions passed with requisite majority · Board & Shareholder Meetings
  3. 38th AGM proceedings - 4 resolutions tabled · Board & Shareholder Meetings
All filings ↓
Ask Nexa about MAN INDUSTRIES (I) LTD.

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures and trades steel pipes, accounting for 100% of segment revenue of ₹3,563.9 crore in FY26. The pipes are supplied to domestic and international customers, with deliveries running 6 to 9 months from order. In June 2026 the company and its Saudi step-down subsidiary NPC bagged fresh orders of about ₹1,000 crore (₹300 crore for the parent and ₹700 crore for NPC), pushing the consolidated unexecuted order book to about ₹4,100 crore. The Real Estate segment, which contributed ₹368.6 crore in FY25, generated no revenue in FY26 and posted a small EBIT loss. Raw materials are the dominant cost at 62.2% of revenue (₹2,217.09 crore), followed by other operating expenses at 22.6%. Employee cost is comparatively low at 2.6% of revenue, and capex was ₹340.27 crore, or 9.5% of FY26 revenue.

Revenue mix · reported segments
Manufacturing (steel pipes)100.0%
Real Estate0.0%
Operating scale
Consolidated unexecuted order book
About ₹4,100 croreJune 2026
New orders bagged
About ₹1,000 crore (₹300 crore parent + ₹700 crore NPC)June 2026
Saudi subsidiary
NPC (step-down subsidiary)FY26
Order delivery timeline
6 to 9 monthsJune 2026
Capex
₹340.27 crore (9.5% of revenue)FY26
Who pays it
Domestic and international buyers of various types of pipes
Biggest cost
Raw materials at 62.2% of revenue (₹2,217.09 crore in FY26)
Kind of business
Cyclical pipe manufacturer with material-heavy cost structure and a small legacy Real Estate line
Where it sits
Indian-listed pipe maker with a Saudi step-down subsidiary NPC; 100% of FY26 revenue from manufacturing
Market Cap
₹5,814 Cr
P / E (TTM)
28.0×
EV / EBITDA
11.3×
Div Yield
—
Growth
11.4%▲
Revenue 5y CAGR
PAT +11.1% · EBITDA +14.7%
Quality
16.1%▲
ROCE (5y median)
ROE 8.2% (5y median) · margin 13.1%
Leverage
0.24·
Debt / Equity · low
Net debt ₹310 Cr
Revenue FY21→FY26
1.7×▲
Margin −0.1 pts
₹2,080 Cr → ₹3,564 Cr
Cash conversion
1.89×▲
Operating cash ÷ profit · 5 yrs
₹1,129 Cr on ₹598 Cr
Moves on a normal day
1.91%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 123 Iron & Steel Products peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#72/105
P/B#72/101
ROCE#54/115
ROE#54/103
Debt / Equity#58/101
EBITDA margin#37/100
Revenue growth#16/97
Profit growth#23/105

Scorecard

Measured from the filed financials, judged against its Iron & Steel Products peers · as of FY26 — not investment advice

Strengths
Returns on capital 16.1% (5-year median)
#54 of 115 in Iron & Steel Products on the latest reported figures · down from 21.6% in FY21
Over 5 years it reported ₹598 Cr of profit and ₹1,129 Cr of operating cash — 1.89×
Profit is converting into cash
Concerns
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

How has the market priced it — with filings on the timeline?

MANINDS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from MAN INDUSTRIES (I) LTD.'s filed financials and exchange disclosures

What does MAN INDUSTRIES (I) LTD. do?

MAN INDUSTRIES (I) LTD. is a Industrial Products company listed on NSE and BSE, trading under the symbol MANINDS.

Is MAN INDUSTRIES (I) LTD. profitable?

Yes. Over the trailing twelve months MAN INDUSTRIES (I) LTD. reported a net profit of ₹204 Cr on revenue of ₹3,875 Cr.

Does MAN INDUSTRIES (I) LTD. pay a dividend?

Not in the latest reported year — MAN INDUSTRIES (I) LTD.'s dividend payout for FY26 was nil.

Is MAN INDUSTRIES (I) LTD. debt-free?

No. It reported borrowings of ₹500 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹310 Cr after cash. Debt stands at 0.24× equity. That is higher than 57% of its 101 Iron & Steel Products peers.

Is MAN INDUSTRIES (I) LTD. expensive compared with its peers?

On trailing P/E, MAN INDUSTRIES (I) LTD. ranks 72 of 105 in Iron & Steel Products — cheaper than 32% of them, against an industry median of 15.4×. This is a position, not a valuation judgement.

How much does the MAN INDUSTRIES (I) LTD. share price move in a day?

On a typical session MAN INDUSTRIES (I) LTD. moves 1.91% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track MAN INDUSTRIES (I) LTD.'s announcements?

Every NSE and BSE filing by MAN INDUSTRIES (I) LTD. appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.