Man Industries shine on bagging order worth Rs 405 crore

Man Industries informed the bourses on Wednesday that it has secured new export orders of nearly Rs 405 crore. With this, the company’s overall outstanding order book is now nearly Rs 1,800 crore, which is to be executed in the current financial year. This provides healthy revenue visibility for the year. As on Q1FY21, the company’s bid book stands strong at Rs 18,000 crore in domestic and international markets.

Notably, the company reported stellar performance in the recently concluded quarter (Q1FY21). Its total revenue surged 67.5 per cent YoY to Rs 410.1 crore. EBITDA during the period too surged 89.3 per cent to Rs 55.2 crore with a corresponding margin expansion of 155 bps. EBITDA margin for the quarter stood at 13.5 per cent. Also, net profit jumped 371.3 per cent YoY to Rs 17.1 crore. PAT margin too improved to 4.2 per cent from 1.5 per cent in the corresponding quarter of the previous year.

The stock of Man Industries in today’s trading session opened gap-up at Rs 62.35 as against its previous close of Rs 60.60 and later touched an intraday high of Rs 62.55 apiece. The stock has doubled since the low of Rs 32 in the month of March.

Man Industries is engaged in the manufacturing of LSAW line pipes, HSAW line pipes as well as aluminium extruded products.