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Earnings Call

Man Industries (India) Earnings Call: Key Takeaways

Man Industries acquires National Pipe Company (KSA) for USD 102Mn, targeting a combined FY30 revenue of INR ~8,500 Cr and structurally higher consolidated margins.

Why this was an Alfa AlertFuture growth guidance >50%: Management guides FY30 consolidated revenue of INR 8,500 Cr, representing a massive multi-year CAGR from current levels.
Highlights
Revenue growthFY30 target INR 8,500 Cr vs ~INR 1,900 Cr NPC current.
MarginsAcquisition accretive; group EBITDA margin to re-rate from 10-12% to 15-17%.
Order bookNPC has USD 120Mn (INR ~1,130-1,150 Cr) order book.
Demand visibilityStrong; USD 1T+ Saudi infrastructure pipeline through 2030.
Management confidenceHigh; citing 20+ year Aramco relationship and Vision 2030 alignment.

Growth

NPC CY25: Revenue USD 211.4Mn, PAT USD 38.3Mn. Targets FY30 consolidated revenue growth to INR ~8,500 Cr.

Outlook

Combined capacity 1.6MTPA. Guiding FY30 EBITDA margins of 15-17% and PAT margins of 9-12%.

Risks

Concentration in Saudi/India markets; integration of NPC; dependency on Saudi Vision 2030 infrastructure spends.

Source

Earnings Call filed with BSE, NSE: MANINDS. Summary written with AI assistance from the document.

Read the document ↗

Man Industries (India) Ltd: key numbers

Share price
₹1,020.35
Market cap
₹7,654 Cr
Revenue (annual)
₹3,564 Cr
Net profit (annual)
₹170.5 Cr
P/E (TTM)
37.5×Sector 19.0×
Promoter holding
43.21%+0.00% QoQ
FII holding
2.87%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Annual General Meeting

Man Industries (India) Annual General Meeting

Man Industries held its 38th Annual General Meeting on September 25, 2026. The meeting covered routine business, including approval of financial statements and statutory resolutions.

13:53 IST BSE
New Order Win

Man Industries (India) Bags ₹600 Cr Order from Domestic and International Customers

Man Industries received new pipe supply orders worth Rs.600 Crores from domestic and international customers, deliverable in 6-9 months. Total order book stands at Rs.4,100 Crores.

Value
₹600.0 Cr
From
Domestic and International Customers
Execution
6 - 9 months
Order book
₹4,100 Cr
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Annual General Meeting

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