Construction Industry News
Man Industries (India) announced that it secured new orders worth Rs 40.90 million from both domestic and international customers. These orders concern the supply of various types of pipes. With the addition of these new orders, the company's total unexecuted order book now stands at approximately Rs 26 billion, and these orders are expected to be executed within the next six to eight months.
Man Industries, which specializes in the production of large diameter submerged arc welded carbon steel tubes, is a major player in the global line tube market.
In its most recent quarterly report, the company reported a 19.1% decline in profit compared to the same quarter of the previous fiscal year. However, operating revenues saw a significant year-on-year increase of 35.6%, reaching Rs 8.10 billion. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) also grew impressively at 43.1% per annum to reach ₹58.4 Crore.
At the time of publication, the company's shares were trading at Rs 347.00, reflecting a gain of 0.67% over the previous closing price. The stock was up 165% in the past year and 24% since the beginning of the year.
In its financial results filing, the company highlighted its successful testing of hydrogen transport pipelines, establishing an industry standard. These tests were carried out by a leading international testing agency. With plans for new hydrogen transport lines, the company wants to use this advantage to further expand its order book.
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