Ashish Kacholia-Backed Industrial Pipe Manufacturer Announced Expansion Plans for New Dammam Plant with Rs 600 Crore Investment!
The company’s shares have delivered an impressive return of over 200 per cent in the past 1 year.
This Small-Cap Company is a leading manufacturer and exporter of LSAW and HSAW pipes in India. Its installed capacity of 1 million tonnes, is set to enhance its footprint with a new plant in Dammam, Saudi Arabia.
This expansion of Man Industries (India) Ltd, costing approximately Rs 600 crores, is driven by the growing demand in the region. With over 30 years of industry experience, the company plans to add a line pipe manufacturing and coating facility at the new location. The proposed capacity addition is expected to range between 0.4 and 0.5 million tonnes, which will be achieved within 12 months. The financing for this project will be secured through a combination of debt and internal accruals, aimed at boosting capacity utilization, which currently stands at around 50 per cent to 60 per cent.
Read Penny Stock Under Rs 40: Company Secures Orders Worth Rs 4,71,11,758 from Multiple Clients!
Currently, the shares of Man Industries (India) Ltd are at around Rs 448.10 per share on the BSE. The company’s current market capitalization stands at Rs 2900 crore. Additionally, the shares have delivered a multibagger return of over 200 per cent in the past 1 year.
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As per the Quarterly Results, in the Q1 FY25, Man Industries (India) Ltd recorded a revenue of Rs 749 crore compared to Rs 490 crore. The operating profit stood at Rs 38 crore. The net profit stood at Rs 19 crore compared to a profit of Rs 11 crore. Looking at the annual performance, the company generated a revenue of Rs 3142 crore in FY24. The operating profit for FY24 was Rs 241 crore with a net profit of Rs 105 crore compared to a net profit of Rs 68 crore in FY23.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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