&w=3840&q=100)
Man Industries shares plunge 10% as revenue drops; check Q1 breakdown here
The iron and steel products maker's stock fell as much as 10.11 per cent during the day to ₹398.1 per share, the biggest intraday fall since April 7 this year. The stock pared gains to trade 7 per cent lower at ₹412 apiece, compared to a 0.20 per cent advance in Nifty 50 as of 9:40 AM.
Shares of the company are down 6 per cent from their peak in June and currently trade at 15 times the average 30-day trading volume, according to Bloomberg. The counter has risen 11.8 per cent this year, compared to a 4.2 per cent advance in the benchmark Nifty 50. Man Industries has a total market capitalisation of ₹2,771.77 crore.
Man Industries (India) Q1 results
The company reported a 44.99 per cent year-on-year (Y-o-Y) increase in net profit to ₹27.62 crore for the quarter ended June, compared with ₹19.05 crore in the same period last year. The growth came despite a 0.88 per cent decline in sales to ₹742.13 crore from ₹748.70 crore a year earlier.
At the operating level, Ebitda rose 28.2 per cent to ₹49.4 crore from ₹38.5 crore, with the Ebitda margin improving to 6.6 per cent from 5.1 per cent in the year-ago quarter.
The company's executable order book stood at ₹3,200 crore as of June 2025, with deliveries scheduled over the next six to 12 months. It also has a bid pipeline of around ₹15,000 crore.
The company said that the export volumes in the quarter were impacted by deferments in certain scheduled consignments due to vessel availability issues arising from the Iran-Israel conflict. These shipments are now in transit and are expected to be accounted for in the current quarter.
Man Industries management commentary
The company reaffirmed its FY26 revenue growth guidance of 20 per cent, supported by the strong momentum expected in the second half of the fiscal year. "This confidence is underpinned by our robust production schedule for H2FY26 and steady order inflows, which are set to significantly enhance capacity utilisation."
"The strong rise in profitability and healthy margin expansion this quarter underscores the resilience, scalability, and operational excellence of our business model," Nikhil Mansukhani, managing director, said. "With our capacity expansion projects in Saudi Arabia and Jammu progressing well, we are well on track to enhance production capabilities, drive efficiencies, and strengthen our footprint in both domestic and international markets."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
27 minutes ago
- Mint
Thailand's Delta Sees AI Boom Boosting Sales for Coming Years
(Bloomberg) -- Delta Electronics (Thailand) Pcl, the country's most valuable publicly traded company, is predicting 'double-digit' sales growth to continue for at least the next couple of years on rising demand for AI-related tech, Chief Executive Officer Victor Cheng said. The maker of components for data centers and electric vehicles is boosting investment to fuel its expansion, Cheng said in an interview. The company also says it plans to raise its sales forecast for the second half of this year, without disclosing what its estimate is. AI-related products, such as networking and data-center power equipment, will account for half of Delta Thailand's sales by the end of the year, up from 42% in the latest quarter, the company forecasts. It is among Southeast Asian suppliers benefiting as customers including Nvidia Corp. expand in the region and beyond to tap rising demand for services such as generative artificial intelligence. 'All the applications involving AI will continue to grow,' Cheng said. 'This business is not slowing down.' Among challenges is a US tariff of 19% on Thai exports, though Cheng said he isn't too worried as the company can 'pretty much pass on all the tariffs to customers.' The US accounts for as much as 35% of Delta Thailand's sales, he said. Second-half performance will benefit from a refund of some of the tariffs Delta Thailand had to pay upfront to customers earlier in the year, the company says. US President Donald Trump has recently set Thailand's tariff rate at 19% after previously threatening 36%. With Nvidia and its peers releasing new AI hardware at a rapid clip, Delta Thailand and its competitors are under pressure to deliver everything from power supply to thermal heating solutions to fit the advanced computing equipment. Data center capacity in the Asia-Pacific region will more than double by 2030, requiring investment of more than $800 billion, according to Moody's Corp. 'Momentum is strong,' Cheng said. 'Data-center segment is the one that's propping up our both top lines and bottom lines.' Shares of the company have more than doubled from an April low, bringing its market capitalization to about $60 billion and putting it far ahead of local peers. Analysts cite it as one of just a few Thai companies well-positioned to benefit from the data center boom. In November, the local stock exchange introduced trading curbs on the company's shares after its surging price triggered a surveillance mechanism. 'I continue to say that I don't like the stock price to be too high,' Cheng said. 'If it's so high I don't know how well it will be sustained and somebody is going to get hurt.' The company is expanding its research and development operations in Thailand by hiring more designers and entering new areas such as thermal simulation engineering. It has recruited more than 100 engineers this year, bringing the total to about 400 in the country. Overall, it has about 20,000 employees in Thailand, its biggest global base. Its two new production facilities in the Wellgrow industrial estate near Bangkok will come online in the fourth quarter. The additional capacity will help it meet demand for power thermal solutions and other components. 'In the next few years, AI and digitization being smarter and faster will support our growth,' Cheng said. 'We just want to maintain this double-digit growth' and 'discipline in our profit margin management.' More stories like this are available on
Mint
an hour ago
- Mint
Bessent Warned on Ethics Compliance, Granted Extension to Divest
(Bloomberg) -- Treasury Secretary Scott Bessent has been granted an extension after failing to fully divest all his assets in compliance with an ethics agreement, according to documents reviewed by Bloomberg. The Office of Government Ethics, or OGE, gave Bessent until Dec. 15 to complete the divestiture of assets he identified ahead of his confirmation by the Senate earlier this year. A Treasury spokesperson said the date was mutually agreed upon by Bessent, the office of Treasury ethics and OGE. Bessent said in a statement that those remaining assets represent 4% of his required divestitures and that he is working toward selling them before the end of the year. He said much of the remaining assets are farmland, 'an inherently illiquid asset.' 'Serving President Trump and the American people is the honor of a lifetime,' Bessent said in an emailed statement. 'I gladly divested from more than 90% of the assets I was required to sell before I even assumed office.' 'I am committed to full transparency and disclosure in my personal finances,' he said. Bessent, a former hedge fund manager, was nominated by Trump in November 2024 and confirmed by the Senate on January 28. He disclosed assets worth at least $521 million in his personal financial disclosure, which was made public by OGE ahead of his confirmation hearing. The total value of his portfolio is potentially worth far more, as nominees list the value of their assets within broad ranges that top out at 'over $50,000,000.' The Treasury secretary's failure to fully divest by an earlier deadline in April was cited in a letter sent Monday by OGE to Senate Finance Committee Chairman Mike Crapo, signed by the agency's Deputy Director for Compliance Dale Christopher. Christopher subsequently wrote to Crapo again Wednesday, setting out the December timeline and saying that Bessent will continue to recuse himself from matters that could involve the undivested assets. A Treasury spokesperson said Bessent has already divested from 96% of the assets slated to be sold by the end of the year and that more than 90% of the $1 billion in total divestitures were made before January 20. Treasury ethics officials said Bessent's remaining undivested assets 'are illiquid and are not readily marketable,' the second Christopher letter reads, in part. 'They add that excluding the farmlands, the assets also have significant restrictions on who can acquire them.' The letters were first reported by the New York Times. Bessent has made reference in public appearances to the farmland he owns in North Dakota, sometimes referring to himself as a farmer or saying that he listens to farm radio. In addition to the farmland, he has also disclosed stakes in a private equity fund, a privately held sparkling water company and a privately held clinical stage drug development company. --With assistance from Bill Allison. More stories like this are available on
Mint
7 hours ago
- Mint
How much time does it take to double your money? Rule of 72 explains…
For most investors, amassing wealth to meet their goals is important, be it increasing your net worth, creating a good retirement fund, funding your or your children's education, building a wedding fund, and more. However, most may not know where to begin, or how. To guide in this, we bring you a simple do-it-yourself (DIY) rule of thumb known as the 'Rule of 72'. The 'Rule of 72' provides investors a basic calculated estimate of how many years it would take to double your money in any particular investment tool. The maths is simple: Divide the rate of returns by 72, the answer is the number of years it would take you to to double your investment in that particular instrument. According to Investopedia, The Rule of 72 is 'handy' for a quick mental guage of the approximate value of an investment. Key highlights: A simplified formula, it calculates how long it'll take for an investment to double in value, based on its rate of return. It applies to compounded interest rates and is 'reasonably accurate' for interest rates that fall in the range of 6-10 per cent. Besides investment, it can be applied all exponential increases such as inflation and GDP. Fixed deposits (FDs): Most bank FDs range from 7 days to 10 years, with varying interest rates. For banks such as State Bank of India and ICICI Bank, you can get anything between 3-7 per cent on FDs. Thus, if you intend to invest ₹ 1 lakh in a bank FD with an interest rate of 7 per cent per annum, let's calculate how long it would take to double your money using Rule of 72: 72/7 = 10.28 years. Most bank FDs range from 7 days to 10 years, with varying interest rates. For banks such as State Bank of India and ICICI Bank, you can get anything between 3-7 per cent on FDs. Thus, if you intend to invest 1 lakh in a bank FD with an interest rate of 7 per cent per annum, let's calculate how long it would take to double your money using Rule of 72: 72/7 = 10.28 years. Public Public Provident Fund (PPF): For the current financial year, the interest on PPF is 7.1 per cent, which using the Rule of 72, will also take you around 10 years to double investment: 72/7.1 = 10.14 years. For the current financial year, the interest on PPF is 7.1 per cent, which using the Rule of 72, will also take you around 10 years to double investment: 72/7.1 = 10.14 years. What about equities? If we consider Nifty50, it has given a 13.5 per cent return in 2024, and 80 per cent in five years. So, an investment of ₹ 1 lakh in equities will double ( ₹ 2 lakh) in five years assuming a 5.33 per cent interest rate. The formula is applied as below: 72/13.5 = 5.33 years. If we consider Nifty50, it has given a 13.5 per cent return in 2024, and 80 per cent in five years. So, an investment of 1 lakh in equities will double ( 2 lakh) in five years assuming a 5.33 per cent interest rate. The formula is applied as below: 72/13.5 = 5.33 years. Mutual funds: Disciplined investment in mutual funds are expected to give around 12-15 per cent means that an investment of ₹ 1 lakh in MFs will double ( ₹ 2 lakh) in six years assuming a 12 per cent interest rate: 72/12 = 6 years Disclaimer: We advise investors to check with certified experts before making any investment decisions.
