MAN Industries Reports Steady Growth, Strong Order Pipeline
MAN Industries (India) Ltd, a leading large-diameter SAW pipe manufacturer, has announced its financial results for Q3 and the nine months ending December 31, 2024.
The company posted a standalone EBITDA of ₹868 million for Q3 FY25, up 1.8% year-on-year, with a margin improvement of 160 basis points to 11.6%. Profit after tax stood at ₹376 million, marking a 1.2% rise. On a consolidated basis, EBITDA grew 6.6% year-on-year to ₹843 million, with a margin of 11.4%.
MAN Industries secured a new order worth ₹2.5 billion, taking its order book to ₹29 billion, to be executed within 6-12 months. Its bid pipeline stands at ₹150 billion. The company’s expansion projects in Saudi Arabia and Jammu are progressing as planned, with production expected to commence by Q3 FY26.
MAN Industries successfully completed the ERW plant assessment by MECON for API 5L X 70 grade and has begun exporting ERW pipes.
Mr. Nikhil Mansukhani, Managing Director, MAN Industries (India) Limited commented, “We are pleased to report a resilient quarter on profitability front despite decline in revenue amid delay in export shipments caused due to non-availability of vessels. The company has delivered the multi-quarter high Consolidated EBITDA Margin of 11.4%+. We maintain our positive outlook for the financial year FY25, with a strong order book of approximately ~INR 29 bn slated for completion over the next 6 to 12 months and hence we maintain our full year revenue guidance of ~INR 33 bn. Our expansion plans for both H-SAW in Saudi and Stainless-Steel Seamless Tubes in Jammu are progressing as planned, and we are committed to meeting our objectives and fulfilling our obligations to all stakeholders.”
