Man Industries hits 52-week high on Rs 400 cr order win; complete details inside

3 October 2023
2 mins read
by Angel One
Shares of the company have generated an impressive return of 110% in the last one year.
Man Industries hits 52-week high on Rs 400 cr order win; complete details inside

Man Industries Limited, engaged in the manufacturing and exporting of large-diameter carbon steel pipes, has made a significant announcement regarding orders received by the company.

As detailed in the official report, the company has received an order from one of its prominent customers for the supply of pipes. The company has not specifically mentioned the name of the customer from which it has received this significant order.

The value of the order is approximately Rs 400 crore, and it is to be completed within six months.

Furthermore, the company has mentioned that as of today, the unfulfilled order book amounts to approximately Rs 1,600 crore, which is expected to be completed within the next six months.

This order book underscores the strong business climate and demonstrates the confidence customers have in the Company’s technological expertise and execution capabilities.

Share Performance

Today, the company’s shares began trading at Rs 184.10 per share, marking a flat opening compared to the previous day’s closing price of Rs 186.85 per share. They reached an intraday high of Rs 196.40 per share on the BSE and finally closed the session at Rs 194.85 per share on the BSE, representing a gain of 4.28%.

The market capitalization of the company is Rs 1,171 crore. Additionally, the stock has delivered a return of 26% in the last three months and 222% in the last three years.

Stock Price Chart (Monthly time frame)

Business Overview:

Man Industries (India) Limited, an India-based company, is primarily involved in the manufacturing, processing, and trading of submerged arc-welded pipes and steel products. The company’s product portfolio includes longitudinal submerged arc welded (LSAW) line pipes designed for applications in industries such as oil, gas, petrochemicals, fertilizers, and dredging, as well as helically submerged arc welded line pipes suitable for use in oil and gas transportation, water supply, sewerage, agriculture, construction, and high-pressure applications. Additionally, the company offers various coating options, including external and internal coating systems.

The LSAW pipes produced by the company range in diameter from approximately 16 inches to 56 inches, with a maximum length of about 12.20 meters. The total production capacity for LSAW pipes is approximately 500,000 tons per annum.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.