MAN Industries (India) Ltd., a prominent manufacturer of large diameter SAW pipes, has revealed its financial results for the half year and quarter ended September 30, 2024. In the first half of FY25, the company achieved standalone revenue of ₹1,536.9 crore, marking a 4.4% year-on-year growth. EBITDA stood at ₹139.5 crore, a decrease of 4.5% compared to the previous year, while profit after tax (PAT) rose by 6.9% to ₹59.2 crore. Consolidated revenue for the half-year totaled ₹1,554.9 crore, a 3.8% increase, with EBITDA at ₹132.3 crore, down by 6.5%. PAT for the consolidated results was ₹50.9 crore, reflecting a 1% year-on-year growth.
For Q2 FY25, standalone revenue rose by 10.0% quarter-on-quarter to ₹805.0 crore, with EBITDA growing by 25.6% to ₹77.6 crore, yielding a margin of 9.6%. PAT for the quarter surged by 45.3% to ₹35.1 crore. On a consolidated basis, revenue reached ₹806.2 crore, a 7.7% quarter-on-quarter increase, while EBITDA rose by 28.7% to ₹74.5 crore. PAT for the quarter saw a remarkable 67.2% increase to ₹31.9 crore.
Despite a 15% decline in steel prices, MAN Industries reported growth driven by higher sales volumes. The company’s order book stands at ₹3,100 crore, expected to be completed within 12 to 18 months. The company also holds a strong net cash position of ₹201.8 crore as of September 30, 2024.
MAN Industries has expanded its capabilities with approvals for coating services at its Anjar facility and recertification by the American Petroleum Institute (API). The company has also advanced in the hydrogen transportation pipeline sector, positioning itself as a key player in renewable energy projects.
Nikhil Mansukhani, Managing Director, expressed confidence in the company’s future, noting a strong order book and progress on expansion plans for both SAW and stainless-steel seamless tubes. The company aims to continue its robust performance in the coming quarters.
MAN Industries (India) Ltd. is the flagship company of the Man Group, established in 1970 by the Mansukhani family. Under the visionary leadership of Dr. R.C. Mansukhani, the company has grown from its roots as an aluminum extruder in 1988 to one of the leading manufacturers of LSAW pipes, spirally welded pipes, and coating systems.
The company operates state-of-the-art manufacturing facilities with a combined capacity of 1 million metric tons per annum for LSAW and HSAW pipes, and 0.2 million metric tons per annum for ERW pipes. Its ERW pipe plant in Anjar, Gujarat, has earned prestigious BIS and ISO certifications and successfully completed the API audit, allowing the company to expand its market reach and forge new partnerships. Additionally, MAN Industries holds CE certification, ensuring compliance with stringent EU safety and quality standards, and has received approvals for coating mills and concrete weight coating, demonstrating its commitment to product excellence and performance optimization.
The company has ventured into the emerging market of hydrogen transportation pipelines, positioning itself as a leader in renewable energy projects with a focus on zero-emission solutions. It is one of the first mills in India to be qualified for hydrogen transportation pipes and is accredited by a reputable European testing agency.
MAN Industries is committed to maintaining the highest operational standards, environmental protection, and occupational health and safety. It holds ISO 9001, ISO 14001, and OHSAS 18001 certifications and is now ESG compliant, reflecting its dedication to environmental, social, and governance principles.
Listed on the Bombay Stock Exchange and National Stock Exchange, MAN Industries has been a consistently profitable company, known for paying regular dividends and meeting its financial obligations even in challenging market conditions.
