Latest news with #NikhilMansukhani
Business Standard
3 days ago
- Business
- Business Standard
Man Industries gains after bagging Rs 1,150-cr export order
Man Industries (India) rose 2.26% to Rs 403.45 after the company announced that it had secured a new export order worth Rs 1,150 crore from an international customer for the supply of various types of pipes. The order is expected to be executed over the next 6 to 12 months. With this addition, the companys total unexecuted order book stands at approximately Rs 3,500 crore, highlighting sustained customer trust in its technological capabilities, quality standards, and execution track record. Nikhil Mansukhani, managing director of MAN Industries (India), said, The start of the year is proving exceptionally strong for MAN Industries, highlighted by the multiple orders totaling approximately Rs 3,500 crore. These are testimonials to our steadfast focus on delivering product excellence and timely deliveries. We expect this momentum to continue during the year; such projects are also testament to the prowess of MAN Industries and our cutting-edge technological capabilities. Man Industries is a leading manufacturer and exporter of large-diameter carbon steel line pipes for various high-pressure transmission applications for gas, crude oil, petrochemical products, and potable water. The companys consolidated net profit jumped 182.4% to Rs 68.15 crore on a 50.3% rise in net sales to Rs 1,218.49 crore in Q4 FY25 over Q4 FY24.
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Business Standard
3 days ago
- Business
- Business Standard
Man Industries share price zooms 6% in trade today, June 5; here's why
Man Industries share price: Pipe maker Man Industries shares jumped up to 6.05 per cent to hit an intraday high of 418.45 However, at 1:40 PM, Man Industries shares were off highs, and were trading 1.55 per cent higher at 400.65 per share. In comparison, BSE Sensex was trading 0.44 per cent higher at 81,355.06 level. Why are Man Industries shares buzzing in trade today? Man Industries share prices were buzzing in trade after the company announced that it has secured an order worth approximately ₹1,150 crore from an international customer. In an exchange filing, Man Industries said, 'We are pleased to inform you that the company has received a new export order for approximately ₹1,150 crore. This order is expected to be delivered during the next 6 to 12 months.' 'This order significantly demonstrates the robust strength and market credibility in global markets and highlights Man Industries' growing reputation as a trusted supplier in the international pipeline industry,' Man Industries highlighted. According to the order details, the company will be responsible for supplying different types of pipes to a respected international customer. Notably, the work is expected to be completed within the next 6 to 12 months. Man Industries' total unexecuted order book now stands at approximately ₹3,500 crore, including today's order. 'The start of the year is proving exceptionally strong for Man Industries, highlighted by the multiple orders totalling approximately ₹3,500 crore. These are testimonial to our steadfast focus on delivering product excellence and timely deliveries. We expect this momentum to continue during the year, such projects are also testament to the prowess of Man Industries and our cutting-edge technological capabilities,' said Nikhil Mansukhani, managing director of Man Industries. The development, Man Industries believes, marks yet another milestone in the company's journey toward expanding its global presence and serving strategic infrastructure and energy sectors worldwide. About Man Industries Man Industries, the flagship company of the Man Group, was established by the Mansukhani family in 1970. Under the leadership of R C Mansukhani, the group began its journey as an aluminum extrusions manufacturer in 1988 and has since evolved into a key player in the global line pipe industry. Today, Man Industries is one of the leading manufacturers and exporters of large-diameter carbon steel pipes—including Longitudinal Submerged Arc Welded (LSAW), Helically Submerged Arc Welded (HSAW), and Electric Resistance Welded (ERW) pipes. These products are widely used in high-pressure transmission applications across the oil & gas, petrochemical, water, fertilizers, dredging, and city gas distribution (CGD) sectors. The company operates three state-of-the-art manufacturing facilities. Two are located in Anjar, Gujarat—one equipped with two LSAW and two HSAW lines, and another focused on ERW pipe production (both API and non-API). The third facility is in Pithampur, Madhya Pradesh. Combined, these units offer an installed capacity of over 1.18 million tonnes per annum (MTPA). To diversify its product portfolio, Man Industries is investing around ₹600 crore to set up new capacities. This includes a stainless-steel seamless pipe manufacturing unit in Jammu and a new integrated line pipe and coating facility in Dammam, Saudi Arabia, aimed at serving the growing Middle East market.
Business Standard
5 days ago
- Business
- Business Standard
Man Industries to raise Rs 300 crore via preferential issue
Man Industries (India) announced plans to raise up to Rs 300 crore through a preferential allotment of convertible warrants and equity shares to promoter and non-promoter entities, subject to shareholder and regulatory approvals. The proposal includes the issuance of 12,19,512 convertible warrants to Man Finance at Rs 328 each, aggregating approximately Rs 39.99 crore. Additionally, 79,26,822 equity shares will be allotted to non-promoters at the same price, totaling around Rs 259.99 crore. The funds are intended to support ongoing capital expenditure for expansion projects in Jammu and Saudi Arabia, enhance working capital, and strengthen the balance sheet. An Extraordinary General Meeting (EGM) is scheduled for 25 June 2025, to seek shareholder approval. Nikhil Mansukhani, Managing Director, stated, The proposed capital raise marks a significant step toward reinforcing our growth strategy. It will enable us to enhance execution capabilities, support strategic expansion, and continue delivering value to our stakeholders. Man Industries is a leading manufacturer and exporter of large-diameter carbon steel line pipes for various high-pressure transmission applications for gas, crude oil, petrochemical products, and potable water. The company reported a consolidated net profit of Rs 68.1 crore in Q4 FY25, which is nearly three times the PAT of Rs 24.1 crore recorded in Q4 FY24. Revenue from operations increased by 50.3% year-over-year (YoY) to Rs 1,218.5 crore in the March 2025 quarter. Shares of Man Industries declined 1.12% to Rs 398.65 on the BSE.
Business Standard
12-05-2025
- Business
- Business Standard
Man Industries hits the roof after PAT rises nearly 3x YoY to Rs 68 crore in Q4
Man Industries (India) was locked in 20% upper circuit at Rs 314.10 after the company reported a consolidated net profit of Rs 68.1 crore in Q4 FY25, which is nearly three times the PAT of Rs 24.1 crore recorded in Q4 FY24. Revenue from operations increased by 50.3% year-over-year (YoY) to Rs 1,218.5 crore in the March 2025 quarter. EBITDA rose by 87.9% to Rs 136.7 crore in Q4 FY25 from Rs 72.7 crore in Q4 FY24. EBITDA margin expanded by 230 basis points to 11.1% in the fourth quarter from 9% in the same period last year. For FY25, Man Industries has recorded a consolidated net profit of Rs 153.2 crore (up 46% YoY) and total income of Rs 3,557 crore (up 11% YoY). As of FY25-end, the company holds an executable order book of RS 2,500 crore for fulfillment over the next 612 months, with a total bid book of Rs 15,000 crore, indicating strong demand visibility and revenue growth potential. In its outlook, the company said: We are targeting a ~20% YoY revenue growth for FY26, backed by timely execution of ongoing and upcoming projects, capacity expansion, and continued order inflows. With a strategic emphasis on operational excellence, product innovation, and international market expansion, MAN Industries is well-positioned to deliver sustained value to all stakeholders. Nikhil Mansukhani, managing director, MAN Industries (India), said: "The substantial growth in profitability and margins underscores the resilience and scalability of our business model. Our targeted expansion into the ERW segment, successful execution of high-value projects, robust order book, and the strategic monetization of a non-core asset have laid a strong foundation for continued momentum in FY26. With capacity expansions progressing in Saudi Arabia and Jammu, we are confident in our ability to scale operations and deepen our footprint across domestic and global markets. Man Industries is a leading manufacturer and exporter of large-diameter carbon steel line pipes for various high-pressure transmission applications for gas, crude oil, petrochemical products, and potable water.
Mint
09-05-2025
- Business
- Mint
Centre puts merger plans on hold after trio of weak general insurers hit profit
New Delhi: The government has deferred plans to merge or privatize three public sector general insurance companies to FY27 after they posted profits, people familiar with the matter said, giving them time to notch up sustained profitability. The three companies—United India Insurance, Oriental Insurance Company and National Insurance Company—are the weaker of the four state-owned general insurers. But they posted profits in the first nine months of FY25, a turnaround after years of losses. United India reported profits of ₹27.45 crore, Oriental Insurance ₹368.37 crore and National Insurance ₹29.46 crore in the period. The fourth company, New India Assurance, is the stronger of the quartet. Also read: Man Industries to complete Saudi facility in FY26, says MD Nikhil Mansukhani All three have been told to focus on profitability rather than revenue growth as the government sets out to monitor their performance for a possible decision next year. If the insurers remain profitable through FY26, options such as a merger or even privatization may be revisited, the people mentioned above said. A potential merger could involve the integration of the three entities and their subsequent amalgamation with the stronger New India Assurance. 'The weaker general insurers have shown improved performance in FY25, with all three posting profits in the first nine months. If they remain profitable through all four quarters of FY26, the government may consider options next year,"the first person mentioned above said. 'Privatization of one insurer is also under consideration. However, no formal policy decision has been taken yet," the person mentioned above said, requesting anonymity. Also read: State-run banks may be tasked to clear 30-40% unclaimed deposits in FY26 Meanwhile, the three insurers have been directed to focus on profitable business and prioritize improving margins over chasing revenue growth, the second person mentioned above said. 'The emphasis is now on underwriting discipline, cost control and better risk assessment to ensure sustainable profitability," the person said. At a recent event, financial services secretary M. Nagaraju said no decision had been taken yet on merging the PSU insurers and that the government would announce its policy when one was finalized. An emailed query sent to the finance ministry remained unanswered at the time of publishing. Spokespersons for United India Insurance, Oriental Insurance Company, National Insurance Company and New India Assurance didn't respond to emailed queries. Ironically, talk of consolidation in the public sector general insurance space has grown louder with the improved performance shown by these historically loss-making entities. Oriental and National began posting profits from Q4 FY24 and Q2 FY25, respectively, while United India turned profitable in Q3 FY25 after a gap of seven years. However, their solvency positions remain weak. As of 31 December, 2024, United India's solvency ratio stood at -0.91, Oriental Insurance's at -1.05 and National Insurance's at -0.53—well below the regulator's mandated minimum of 1.5. A negative solvency ratio indicates that liabilities exceed assets, raising concerns about financial stability. 'As we have seen in the banking industry in India, there has been a business case of merging an under-performing bank with a leading performer. In such mergers, the leading performer can support the acquired business at negligible accretive cost for the overall good of the customers and shareholders alike," said Narendra Ganpule, Partner, Grant Thornton Bharat. Also read: Payments from public sector cos to govt likely to cross ₹80,000 cr in FY26 'However, when you merge two below-par performers, you don't get that benefit. It ends up becoming a larger inefficient company. The way to go should be to find a buyer for these companies through a competitive bidding process for the larger good of the companies, employees, customers and to ensure the financial prudence of taxpayers' money," he added. The government had earlier proposed merging the three into a single entity and listing it on the stock exchanges. It also considered whether one of the three could be privatized or if the merged entity itself could undergo equity dilution. The merger plan was announced in 2018 by then finance minister Arun Jaitley. However, it stalled as the insurers continued to incur losses and remain weak on solvency ratios.
