Man Industries (India) Limited announced on Monday that it has secured a significant export order worth ₹505 crore for pipes from an international client. The company disclosed this development in an exchange filing, stating that the execution of these orders is slated for completion within the next 6-8 months.
As of May 21, 2024, Man Industries’ total unexecuted order book stands at approximately ₹2,100 crore. The company highlighted that this latest order underscores the strong business environment and the high level of trust its customers place in its technological and executional capabilities.
Following the announcement, shares of Man Industries saw a notable increase, gaining as much as 4.59% to reach an intraday high of ₹387.9 per piece on the BSE. However, the stock experienced a slight pullback and was trading 0.68% higher at ₹368.35 per piece as of 3 PM.
Last month, the company achieved a milestone by receiving approval from Shell Global for the external, internal, and concrete coating of steel pipelines at its Anjar facility in Gujarat. This approval followed a rigorous technical assessment of the coating mill at Anjar, which included testing the performance of various coatings for steel pipelines.
Established in 1988, Man Industries (India) Limited is the flagship company of the Man Group. It specializes in the production of large-diameter carbon steel SAW pipes, cementing its position as a key player in the line pipe industry. The recent order and previous certifications reflect the company’s robust operational capabilities and its commitment to maintaining high standards in manufacturing and execution.
