Orders for Small Cap Metal Stock Bags Totaling Rs. 555 Crore, With Shares Zooming 356% in a Year
On Thursday, Man Industries (India) Limited saw a 3% increase in its share price after the announcement of a sizable new order for around Rs 555 crore. In a regulatory statement, the business disclosed this noteworthy milestone and expressed joy at landing the lucrative contract for the delivery of several kinds of pipes.
A Man Industries spokesman said, “We are pleased to inform you that the company has received new orders of approximately Rs 555 crore,” reflecting the trust that their clients have in the company’s technical and execution skills.
Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), where the stock increased by 2.44% to Rs 390 and 2.87% to Rs 390.50, respectively, were seeing a significant increase in share prices.
With a market capitalization of Rs 2,377, Man Industries (India) Limited, a small-cap iron and steel firm, is nonetheless profitable. The company’s robust and stable finances are shown by its impressive ROE of Rs 11.41 and EPS of Rs 19.87. Man Industries is still one of the industry’s strongest players, with a face value of Rs 5.
“This order reflects the robust business environment and showcases the trust of the customers they have in the Company’s technological and execution capabilities,” said a company official.
With the addition of this most recent transaction, Man Industries’ exceptionally high total completed order book—roughly Rs 2000 crore—further strengthens its position in the industry and its trajectory of development.
The business said earlier this month that it had achieved another noteworthy milestone, securing orders for the delivery of several kinds of pipes worth over Rs 525 crore. Nikhil Mansukhani, Managing Director of Man Industries, underscored the critical function of these directives in validating the organization’s cutting-edge technology proficiencies and resilient execution and delivery approaches.
These orders show Man Industries’ cutting-edge technical competence and excellent execution and delivery techniques. They are also crucial to various projects. Since our objectives are still quite high, we expect more this year,” Nikhil Mansukhani said.
A prestigious European research facility successfully tested Man Industries’ pipes for safe hydrogen transportation in December 2023, making headlines. This accomplishment demonstrates the company’s dedication to safety regulations and innovation in its product line.
Man Industries is confident about its future prospects despite seeing a 17.7% reduction in net profit in the quarter that ended in December 2023. This optimism is fueled by the company’s robust order book and ongoing investment in cutting-edge technology.
The share fluctuated between a 52-week high of Rs 459 and a 52-week low of Rs 83.21, demonstrating the market stability and resiliency of the firm. The stock is now trading 369.9% above its 52-week low and 14.81% below its 52-week high.
The Man Group was founded in the 1970s by the Mansukhani family and consists of a variety of businesses. Man Industries (India) Ltd., the group’s main firm, is a market leader in the production and coating of large-diameter carbon steel pipes for the real estate, infrastructure, and trade industries.
Large-diameter carbon steel pipes for the petrochemical, water, fertilizer, oil and gas, and dredging sectors are manufactured by Man sectors, which was founded in 1988.
