Man Industries (India) Limited

NSE: MANINDS · Iron & Steel Products

52W Range₹302 ₹944

Snapshot

Unlock Man Industries (India) Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Man Industries (India) Limited is a manufacturer and exporter specialising in longitudinal and helically submerged arc welded (LSAW and HSAW) pipes. The company serves critical infrastructure sectors including oil, gas, petrochemicals, water supply, and agriculture.

Business Model

The company generates revenue through the manufacturing, processing, and trading of steel pipes and advanced coating systems. It operates by fulfilling orders for large-scale infrastructure projects across both domestic and international markets.

  • Incorporation Year:1988

Growth Outlook

Growth is driven by increasing demand for high-pressure pipeline infrastructure in the oil and gas sector and expanding water transportation projects. The company leverages its diverse coating capabilities to cater to specific technical requirements of global clients.

Key Risks

  • Raw Material Price Volatility. Fluctuations in steel prices can significantly impact manufacturing margins and overall profitability.
  • Cyclical Infrastructure Demand. The company's performance is highly dependent on the capital expenditure cycles of the oil, gas, and water infrastructure sectors.
  • Geopolitical and Export Risks. As an exporter, the company is exposed to international trade barriers, currency fluctuations, and geopolitical instability in target markets.
  • Regulatory and Environmental Compliance. Stringent environmental regulations regarding steel manufacturing processes may lead to increased operational costs.

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Key Metrics

REVENUE

₹3,875 Cr

TTM · consolidated

+10.7%YoY

NET PROFIT

₹204 Cr

TTM · consolidated

+26.3%YoY

EPS

₹27.66

TTM · consolidated

+17.4%YoY

RETURN ON EQUITY

11.1%

TTM · consolidated

+1.0 ppYoY

RETURN ON CAPITAL EMPLOYED

21.1%

TTM · consolidated

+2.7 ppYoY

P/E

28.5x

Q1 FY27 · consolidated

28.5 vs 45.8x5Y avg

EV/EBITDA

11.5x

Q1 FY27 · consolidated

11.5 vs 23.1x5Y avg

EBITDA MARGIN

14.0%

TTM · consolidated

+3.3 ppYoY

NET PROFIT MARGIN

5.8%

Q1 FY27 · consolidated

+2.1 ppYoY

DEBT TO EQUITY

0.2x

Q1 FY27 · consolidated

-0.04xYoY

Peers · Iron & Steel Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Man Industries (India) LimitedMANINDS
₹5,915 Cr28.5111.5110.7%14.0%11.1%21.1%+90.2%
Aeroflex Industries LimitedAEROFLEX
₹7,112 Cr104.1659.4435.6%23.7%17.0%22.9%+205.2%
Shivalik Bimetal Controls LimitedSBCL
₹6,458 Cr60.8641.8918.8%25.2%23.9%29.9%+120.6%
Sunflag Iron and Steel Company LimitedSUNFLAG
₹6,194 Cr30.6113.1511.1%12.6%2.3%3.7%+28.2%
Electrosteel Castings LimitedELECTCAST
₹5,175 Cr42.7112.42-15.7%8.9%2.1%4.3%-14.8%
Bansal Wire Industries Ltd.BANSALWIRE
₹4,932 Cr30.6116.9418.6%7.8%11.9%17.0%-13.6%

As of Q1 FY27

Financials