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Man Industries (India) Limited MANINDS NSEINFRA

Basic Materials · Steel · India
https://www.mangroup.com
Company Profile ↓
₹562.35
+32.50% 1Y
Mkt Cap₹4,218.16 Cr
P/E24.69
P/B1.96
52W High₹601.40
52W Low₹310.55
Book Value₹278.17
EPS (TTM)₹22.78

Company Overview

Man Industries (India) Limited manufactures, processes, sells, and trades in submerged arc-welded pipes and steel products in India. The company offers longitudinal submerged arc-welded (LSAW) and helically submerged arc-welded (HSAW) line pipes, external coatings and internal linings, electro resistance-welded (ERW) pipes, and hot induction bends (HIB) pipes. It serves customers in the oil, gas, petrochemicals, water dredging, and fertilizer industries. The company exports its products. Man Industries (India) Limited was incorporated in 1988 and is based in Mumbai, India.

Why Investors Should Care

Healthy Capital Returns

Return on capital employed stands at 16.1%.

Consistent Profit Growth

Net profit has compounded at 36.5% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 17.2% CAGR over the past five years.

Reasonable Valuation

Trades at a P/E of 24.7, below the sector median of 27.4.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.30.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹3,563.90 Cr (+1.7% YoY); net profit ₹170.48 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +1.7%, earnings +11.3%.
  • 5-Year Trend Long-term compounding — revenue CAGR 17.2%, profit CAGR 36.5%.

Growth & Price Performance

Compounded Sales Growth

5 Years:17.15%
1 Year:1.67%

Compounded Profit Growth

5 Years:36.49%
1 Year:11.30%

Stock Price Performance

1 Year:+32.50%
6 Months:+59.92%
3 Months:+10.68%
1 Month:-1.87%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bullish
52-Week Range 87% of range
₹310.55 ₹601.40
Trend Signals
  • Price vs 50-DMAAbove
  • Price vs 200-DMAAbove
  • RSI (14)49.50 · Neutral
Price Performance
1M-1.87%
3M+10.68%
6M+59.92%
1Y+32.50%
Valuation vs Sector

P/E of 24.69 is below the sector median of 27.45 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Compounding revenue at 17.2% over 5 years.
  • Profit CAGR of 36.5% over 5 years.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
24.69
Industry PE
27.45
Forward P/E
7.81
PEG Ratio
1.12
Book Value
₹278.17
Price to Book
1.96
P/S
1.18
EV/EBITDA
9.07
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
17.15%
Profit 5Y
36.49%
Revenue (YoY)
1.67%
Earnings (YoY)
11.30%

Profitability & Returns

ROCE
16.05%
ROE
8.17%
ROA
3.40%
Profit Margin
4.78%
Op Margin
10.11%
Gross Margin
37.47%
EPS (Latest Qtr)
₹7.00
EPS (TTM)
₹22.78

Balance Sheet & Liquidity

Debt/Equity
0.30
Quick Ratio
0.77
Current Ratio
1.36
Debt
₹627.98 Cr
Total Assets
₹5,020.61 Cr
Current Assets
₹3,533.09 Cr
Working Capital
₹935.73 Cr

Ownership

Promoter Holding
57.49%
Chg in Prom Hold
14.28%
FII / Inst Holding
0.71%
Chg in FII Hold
0.01%

Financial Snapshot

Enterprise Value
₹4,218.16 Cr
Total Revenue (TTM)
₹3,563.90 Cr
EBITDA
₹467.89 Cr
Free Cash Flow
₹131.94 Cr
Operating Cash Flow
₹472.21 Cr
Shares Outstanding
₹7.50 Cr
Gross Margin
37.47%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Basic Materials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MANINDS Man Industries (India) Limited NSEINFRA 562.35 24.69 ₹4,218.16 Cr 0.00% 16.05% 8.17% 17.15% 36.49%
2 ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA 11,659.00 56.84 ₹3.44 L Cr 0.66% 11.90% 10.66% 12.40% 17.26%
3 JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA 1,244.70 86.92 ₹3.04 L Cr 0.57% 18.75% 22.30% 3.61% 75.28%
4 ASIANPAINT Asian Paints Limited NIFTY50NSEINFRA 2,675.50 59.31 ₹2.57 L Cr 1.03% 24.41% 20.24% 1.10% 1.75%
5 TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA 187.67 21.70 ₹2.34 L Cr 2.09% 11.32% 10.56% -1.59% 7.21%
6 HINDZINC Hindustan Zinc Limited NSEINFRA 532.50 16.26 ₹2.25 L Cr 3.91% 61.97% 61.13% 5.61% 9.58%
7 HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA 963.55 16.01 ₹2.17 L Cr 0.52% 9.42% 9.80% 7.10% 9.87%
8 GRASIM Grasim Industries Limited NIFTY50NSEINFRA 3,133.10 56.45 ₹2.13 L Cr 0.31% 4.00% 4.80% 14.63% -10.06%
9 VAML Vedanta Aluminium Metal Limited NSEINFRA 452.95 inf ₹1.77 L Cr 0.00% 41.97% 49.39% - -46.32%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 598.00 Cr490.00 Cr1,018.00 Cr833.00 Cr811.00 Cr749.00 Cr806.00 Cr-1,218.49 Cr742.13 Cr834.09 Cr830.38 Cr1,157.30 Cr
Cost of Revenue --------974.66 Cr590.31 Cr601.96 Cr497.69 Cr538.66 Cr
Gross Profit --------243.83 Cr151.82 Cr232.13 Cr332.69 Cr618.64 Cr
Operating Expenses 557.00 Cr444.00 Cr948.00 Cr768.00 Cr752.00 Cr711.00 Cr742.00 Cr-120.66 Cr115.29 Cr133.20 Cr226.55 Cr501.61 Cr
Operating Income 30.00 Cr32.00 Cr55.00 Cr49.00 Cr43.00 Cr25.00 Cr53.00 Cr-123.17 Cr36.53 Cr98.93 Cr106.14 Cr117.03 Cr
EBITDA 41.00 Cr47.00 Cr70.00 Cr65.00 Cr58.00 Cr38.00 Cr64.00 Cr-136.43 Cr80.61 Cr101.81 Cr135.97 Cr147.92 Cr
Interest Expense 6.00 Cr21.00 Cr22.00 Cr20.00 Cr25.00 Cr18.00 Cr21.00 Cr-34.72 Cr29.77 Cr30.21 Cr38.19 Cr52.27 Cr
Pretax Income 34.00 Cr14.00 Cr54.00 Cr43.00 Cr32.00 Cr28.00 Cr43.00 Cr-91.18 Cr38.26 Cr49.43 Cr76.29 Cr72.97 Cr
Tax Provision 4.08 Cr3.08 Cr15.12 Cr12.47 Cr8.32 Cr8.68 Cr11.18 Cr-23.04 Cr10.64 Cr12.45 Cr21.25 Cr22.12 Cr
Net Income 30.00 Cr11.00 Cr39.00 Cr31.00 Cr24.00 Cr19.00 Cr32.00 Cr-68.15 Cr27.62 Cr36.98 Cr55.04 Cr50.85 Cr
Diluted EPS 4.961.876.505.093.732.944.92-8.824.134.687.517.00

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 1,364.00 Cr1,392.00 Cr1,060.00 Cr1,608.00 Cr2,222.00 Cr1,759.00 Cr2,080.00 Cr-2,216.55 Cr3,112.86 Cr3,505.35 Cr3,563.90 Cr
Cost of Revenue --------1,897.75 Cr2,563.08 Cr2,734.83 Cr2,228.62 Cr
Gross Profit --------318.80 Cr549.78 Cr770.52 Cr1,335.28 Cr
Operating Expenses 1,250.00 Cr1,272.00 Cr1,012.00 Cr1,483.00 Cr2,044.00 Cr1,591.00 Cr1,875.00 Cr-222.09 Cr361.62 Cr479.45 Cr974.90 Cr
Operating Income 71.00 Cr83.00 Cr8.00 Cr86.00 Cr132.00 Cr116.00 Cr159.00 Cr-96.71 Cr188.16 Cr291.07 Cr360.38 Cr
EBITDA 114.00 Cr120.00 Cr48.00 Cr125.00 Cr178.00 Cr168.00 Cr205.00 Cr-160.41 Cr263.49 Cr356.29 Cr467.89 Cr
Interest Expense 46.00 Cr56.00 Cr36.00 Cr43.00 Cr64.00 Cr64.00 Cr53.00 Cr-25.46 Cr58.10 Cr102.69 Cr152.03 Cr
Pretax Income 60.00 Cr93.00 Cr44.00 Cr95.00 Cr88.00 Cr65.00 Cr137.00 Cr-89.46 Cr144.30 Cr208.35 Cr236.94 Cr
Tax Provision 10.20 Cr6.51 Cr10.56 Cr31.35 Cr29.04 Cr9.75 Cr35.62 Cr-22.42 Cr39.16 Cr55.18 Cr66.46 Cr
Net Income 50.00 Cr86.00 Cr34.00 Cr64.00 Cr59.00 Cr56.00 Cr101.00 Cr-67.04 Cr105.14 Cr153.17 Cr170.48 Cr
Diluted EPS 8.8215.145.8811.1510.309.7217.6617.5211.1716.7322.78-

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 1,499.00 Cr1,243.00 Cr1,356.00 Cr1,698.00 Cr1,594.00 Cr1,827.00 Cr1,786.00 Cr-1,860.24 Cr2,415.16 Cr3,779.15 Cr5,020.61 Cr
Current Assets --------1,157.28 Cr1,599.75 Cr2,750.57 Cr3,533.09 Cr
Cash & Equivalents --------36.97 Cr159.15 Cr99.91 Cr189.20 Cr
Inventory --------406.81 Cr645.63 Cr1,268.54 Cr1,535.00 Cr
Receivables --------493.93 Cr355.10 Cr895.89 Cr1,009.78 Cr
Total Liabilities --------727.95 Cr1,010.29 Cr2,171.88 Cr2,934.07 Cr
Current Liabilities --------566.86 Cr829.98 Cr1,984.94 Cr2,597.36 Cr
Long Term Debt --------129.55 Cr136.28 Cr138.48 Cr240.15 Cr
Total Debt 495.00 Cr353.00 Cr447.00 Cr368.00 Cr244.00 Cr294.00 Cr296.00 Cr-300.64 Cr325.92 Cr476.22 Cr627.98 Cr
Total Equity 483.00 Cr567.00 Cr599.00 Cr653.00 Cr702.00 Cr747.00 Cr835.00 Cr-1,132.29 Cr1,404.87 Cr1,607.26 Cr2,086.54 Cr
Shares Outstanding --------6.01 Cr6.47 Cr6.47 Cr7.50 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 64.00 Cr205.00 Cr-75.00 Cr132.00 Cr137.00 Cr214.00 Cr-60.00 Cr--120.30 Cr344.91 Cr73.09 Cr472.21 Cr
Investing Cash Flow -61.00 Cr2.00 Cr21.00 Cr-105.00 Cr0-46.00 Cr4.00 Cr--135.49 Cr-279.31 Cr-111.30 Cr-593.92 Cr
Financing Cash Flow -35.00 Cr-188.00 Cr41.00 Cr-115.00 Cr-138.00 Cr-37.00 Cr-63.00 Cr-210.68 Cr86.03 Cr24.52 Cr135.99 Cr
Capital Expenditure 5.00 Cr-47.00 Cr-23.00 Cr-110.00 Cr-26.00 Cr-10.00 Cr-12.00 Cr--207.22 Cr-116.87 Cr-154.32 Cr-340.27 Cr
Free Cash Flow 69.00 Cr158.00 Cr-98.00 Cr22.00 Cr111.00 Cr204.00 Cr-72.00 Cr--327.52 Cr228.03 Cr-81.23 Cr131.94 Cr
Net Change in Cash -31.00 Cr19.00 Cr-13.00 Cr-88.00 Cr-1.00 Cr131.00 Cr-119.00 Cr--45.10 Cr151.63 Cr-13.69 Cr14.28 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------14.4%17.7%22.0%37.5%
Operating Margin % 5.2%6.0%0.8%5.3%5.9%6.6%7.6%-4.4%6.0%8.3%10.1%
Net Margin % 3.7%6.2%3.2%4.0%2.7%3.2%4.9%-3.0%3.4%4.4%4.8%
ROE % 10.4%15.2%5.7%9.8%8.4%7.5%12.1%-5.9%7.5%9.5%8.2%
ROCE % --------7.5%11.9%16.2%14.9%

Shareholding Pattern

Insiders
57.49%
Institutions
0.71%
Public Float
1.67%

Analyst View

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Latest News

Recent headlines for MANINDS

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Google News Sun, 31 May 2026

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MANINDS — Frequently Asked Questions

What is the current share price of Man Industries (India) Limited (MANINDS)?

As of 2026-07-15 09:52 IST, Man Industries (India) Limited (MANINDS) trades at ₹562.35 on NSE. Its 52-week range is ₹310.55 to ₹601.40.

What is the market capitalisation of MANINDS?

Man Industries (India) Limited (MANINDS) has a market capitalisation of ₹4,218.16 Cr on NSE.

What is the P/E ratio of MANINDS?

MANINDS trades at a trailing price-to-earnings (P/E) ratio of 24.69. The industry average P/E is 27.45. Its price-to-book (P/B) ratio is 1.96.

What is the return on equity (ROE) of MANINDS?

MANINDS has a return on equity (ROE) of 8.17%. Its return on capital employed (ROCE) is 16.05%.

Is MANINDS a good stock to buy?

This page provides a data-driven analysis of Man Industries (India) Limited (MANINDS), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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