Small Cap Metal Stock Bags Orders Worth Rs 555 Crore, Shares Zoom 356% In 1-Year

Man Industries (India) Limited on Thursday surged in its shares, climbing by 3% after the announcement of a substantial new order valued at approximately Rs 555 crore. The company revealed this significant development through a regulatory filing, expressing satisfaction with securing the lucrative contract for the supply of various types of pipes.

"We are pleased to inform you that the Company has received new orders of approximately Rs 555 crore," stated a representative of Man Industries, highlighting the confidence of their customers in the company's technological and executional capabilities.

The surge in share prices was evident on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), where the stock jumped by 2.44% to Rs 390 and 2.87% to Rs 390.50, respectively.

Man Industries (India) Limited, a small-cap iron and steel company, continues its profitable streak with a market capitalisation of Rs 2,377. The company boasts an EPS of Rs 19.87 and ROE of Rs 11.41, showcasing its financial strength and stability. With a face value of Rs 5, Man Industries remains a robust player in the industry.

"This order reflects the robust business environment and showcases the trust of the customers they have in the Company's technological and executional capabilities," added the company representative.

With this latest order, Man Industries' total executed order book stands impressively at approximately Rs 2000 crore, further solidifying its market position and growth trajectory.

Earlier this month, the company announced another significant milestone, bagging orders worth approximately Rs 525 crore for the supply of various types of pipes. Managing Director of Man Industries, Nikhil Mansukhani, emphasised the pivotal role of these orders in affirming the company's advanced technological capabilities and robust execution and delivery strategies.

"These orders, which are essential to several projects, demonstrate Man Industries' cutting-edge technological prowess and strong execution and delivery methods. We anticipate more this year because our goals are still quite high," stated Nikhil Mansukhani.

In December 2023, Man Industries made headlines with the successful testing of its pipes for safe hydrogen transport, conducted by a leading European research center. This achievement underscores the company's commitment to innovation and safety standards in its product offerings.

Despite facing a 17.7% decline in net profit in the quarter ended December 2023, Man Industries remains optimistic about its future prospects, buoyed by its strong order book and continued investment in advanced technologies.

The share touched a 52-week high of Rs 459 and a 52-week low of Rs 83.21, reflecting the company's resilience and stability in the market. Currently, the stock is trading 14.81% below its 52-week high and 369.9% above its 52-week low.

The Man Group, promoted by the Mansukhani family in the 1970s, encompasses a diversified portfolio, with its flagship company, Man Industries (India) Ltd., leading in the manufacturing and coating of large-diameter carbon steel pipes in the infrastructure, real estate, and trading sectors.

Man Industries was established in 1988 and produces large-diameter carbon steel pipes that are used in the petrochemical, water, fertiliser, oil and gas, and dredging industries.