Man Industries Secures New Orders Worth ₹490 Crore

New order has increased their unexecuted order book to approximately ₹2,600 crore.

Man Industries (India) Ltd announced on Wednesday that it has secured new orders totalling ₹490 crore from both international and domestic clients. These orders involve the supply of various types of pipes, according to the company's filing with the Bombay Stock Exchange (BSE).

In its filing, Man Industries stated, "It is to inform you that the Company has received new orders of approximately ₹490 crore." With these new orders, the company's total unexecuted order book now stands at approximately ₹2,600 crore. These orders are expected to be fulfilled within the next 6 to 8 months.

Man Industries is a prominent player in the global line pipe market, with a focus on producing submerged arc welded carbon steel pipes with enormous diameters. The business continues to be significant in its industry despite its difficulties.

According to the company's most recent quarterly statistics, which were made public on Tuesday, profit decreased by 19.1% from the same quarter in the prior fiscal year. On the other hand, operating revenue increased significantly by 35.6% year over year to ₹810.68 crore. Impressive development was also displayed by the company's earnings before interest, taxes, depreciation, and amortization (EBITDA), which increased by 43.1% annually to ₹58.4 crore.

In its financial results filing, the company has stated that it has successfully performed the testing of hydrogen transportation pipes. This testing set a standard for the industry and was carried out by a prominent international testing firm. Given that the new hydrogen transportation lines will be completely new, the company expressed confidence in using this first-mover advantage to considerably improve its order book.