Man Industries (India) Ltd

EBITDA improved by 8.4% to Rs 148 crore in Q4 FY26 from Rs 136 crore in Q4 FY25. EBITDA margin was 12.7% in Q4 FY26. The company reported that consolidated Q4 FY25 revenue included Rs 369 crore from the Merino Shelters real estate asset. Adjusting for this one-time contribution, the core pipe business delivered approximately 36.2% year-on-year revenue growth in Q4 FY26, reflecting strong underlying momentum in the pipeline business. On a full-year basis, the company's consolidated net profit jumped 11.3% to Rs 170.48 crore on a 1.67% increase in revenue from operations to Rs 3,563.90 crore in FY26 over FY25. The company guided for consolidated revenue of Rs 5,000'5,500 crore for FY27, along with EBITDA margin guidance of 13'15%. This outlook excludes any contribution from Merino Shelters, which is expected to act as an incremental earnings driver from June 2026 onwards. Cash and cash equivalents stood at Rs 657.2 crore at year-end. The company remained net cash positive at Rs 157.5 crore and generated free cash flow of Rs 132 crore, despite incurring capital expenditure of Rs 340 crore during the year. The company said that on 21 May 2026, MAN Industries, through its subsidiary MISIC, acquired a 100% stake in National Pipe Company (NPC), Saudi Arabia, for USD 102 million (approximately Rs 1,000 crore). NPC is an API-certified large-diameter pipe manufacturer with 430,000 MTPA capacity and a strong customer base, including a long-standing relationship with Saudi Aramco. The deal was completed at 1.5x EV/EBITDA, below peer valuations, and is EPS-accretive from day one. Nikhil Mansukhani, managing director, MAN Industries (India), said, 'FY26 has been a defining year for Man Industries. We are proud to have achieved our highest-ever consolidated EBITDA and PAT margins, a milestone that reflects the strength of our strategy: optimizing our product portfolio toward high-value applications, deepening our international footprint, and maintaining rigorous financial discipline. The strong momentum in Q4, particularly on the standalone front, demonstrates the operating leverage embedded in our business as we scale. With a robust order book of approximately Rs 3,000 crore, our acquisition of National Pipe Company (NPC) in Saudi Arabia, and the upcoming greenfield stainless-steel plant in Jammu, we are building a more diversified and resilient platform for sustained growth. We enter FY27 at an inflection point. The foundations are in place, the order book is strong, and the runway ahead is significant. Our best years are still to come.' Man Industries is a leading manufacturer and exporter of large-diameter carbon steel line pipes for various high-pressure transmission applications for gas, crude oil, petrochemical products, and potable water. Shares of Man Industries rose 1.60% to Rs 566.50 on the BSE.Powered by Capital Market - Live

Securities in F&O Ban: Shares Steel Authority of India (SAIL) are banned from F&O trading on 26 May 2026. Result Today: ONGC, Siemens, Brainbees Solutions, Venus Pipes, Transrail Lighting, Marksans Pharma, Morepen Laboratories, Jubiliant Ingrevia, RedTape, Aequs, Gujarat Fluorochemicals, Gujarat Gas AIA Engineering, AstraZeneca Pharma, Bayer, Camlin Fine Sciences, Gandhar Oil, IRCTC, JK Tyre, Landmark Cars, Senco Gold, Steep Strips Wheel will declare their quarterly results later today. Stocks in Spotlight: Man Industries (India) reported 61.3% jump in consolidated net profit to Rs 55.04 crore on 13.4% increase in revenue from operations to Rs 830.38 crore in Q4 FY26 over Q4 FY25. Hitachi Energy reported 120% surge in standalone net profit to Rs 302.19 crore on 27.7% rise in net sales to Rs 2021.31 crore in Q4 March 2026 over Q4 March 2025. Container Corporation of India (Concor)'s consolidated net profit declined 12.4% to Rs 262.65 crore in Q4 FY26 compared with Rs 299.79 crore in Q4 FY25. Net sales fell 1.1% YoY to Rs 2,263.30 crore in Q4 FY26. Suprajit Engineering's consolidated net profit soared 161% to Rs 71.11 crore in Q4 FY26, compared with Rs 27.24 crore in Q4 FY25. Net sales jumped 18.8% YoY to Rs 1041.93 crore in Q4 FY26. Pine Labs reported consolidated net profit to Rs 59.36 crore in Q4 FY26 compared with net loss of Rs 28.91 crore in Q4 FY25. Revenue from operations climbed 17.02% YoY to Rs 700.51 crore in Q4 FY26. Suzlon Energy's consolidated net profit declined 5.64% to Rs 1,114.35 crore on a 44.91% increase in revenue from operations to Rs 5,468.06 crore in Q4 FY26 over Q4 FY25. Aditya Birla Fashion Retail (ABFRL) net loss widened to Rs 148 crore in Q4 FY26 compared with net loss of Rs 16.87 crore in Q4 FY25. Revenue from operations climbed 15.74% YoY to Rs 1990.13 crore in Q4 FY26.Powered by Capital Market - Live

Net profit of Man Industries (India) rose 74.09% to Rs 70.21 crore in the quarter ended March 2026 as against Rs 40.33 crore during the previous quarter ended March 2025. Sales rose 36.04% to Rs 1156.97 crore in the quarter ended March 2026 as against Rs 850.44 crore during the previous quarter ended March 2025. For the full year,net profit rose 42.83% to Rs 195.85 crore in the year ended March 2026 as against Rs 137.12 crore during the previous year ended March 2025. Sales rose 10.81% to Rs 3455.25 crore in the year ended March 2026 as against Rs 3118.22 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales1156.97850.44 36 3455.253118.22 11 OPM %13.297.57 -12.737.76 - PBDT116.2466.87 74 338.62228.77 48 PBT94.6756.86 66 263.08185.50 42 NP70.2140.33 74 195.85137.12 43 Powered by Capital Market - Live

Net profit of Man Industries (India) declined 25.39% to Rs 50.85 crore in the quarter ended March 2026 as against Rs 68.15 crore during the previous quarter ended March 2025. Sales declined 5.02% to Rs 1157.30 crore in the quarter ended March 2026 as against Rs 1218.49 crore during the previous quarter ended March 2025. For the full year,net profit rose 11.30% to Rs 170.48 crore in the year ended March 2026 as against Rs 153.17 crore during the previous year ended March 2025. Sales rose 1.67% to Rs 3563.90 crore in the year ended March 2026 as against Rs 3505.35 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales1157.301218.49 -5 3563.903505.35 2 OPM %12.079.95 -12.338.60 - PBDT95.65101.72 -6 315.86253.60 25 PBT72.9791.19 -20 236.94208.35 14 NP50.8568.15 -25 170.48153.17 11 Powered by Capital Market - Live

The board of Man Industries (India) at their meeting held on 21 May 2026, inter alia, considered and took note of the completion of the transaction in relation to acquisition of 100% equity stake in National Pipe Company (NPC), Kingdom of Saudi Arabia, at a total cost of approx. USD 102 Million (Rs 1,000 crore), by Man International Steel Industries Company (MISIC), a wholly owned subsidiary of the Company incorporated in the Kingdom of Saudi Arabia. NPC is one of the established API manufacturers of HSAW and LSAW pipes in the Kingdom of Saudi Arabia. NPC caters to oil & gas pipelines, water transmission, infrastructure and industrial projects and serves reputed customers including Saudi Aramco, Saudi Water Authority (SWA), Saudi Water Partnership Company (SWPC), Water Transmission & Technologies Co. (WTTCO), KOC (Kuwait), Qatar Petroleum and leading global EPC contractors including McDermott, L&T, SAIPEM, Subsea7, Hyundai E&C and others. The acquisition is in line with the Company's international expansion strategy and is expected to strengthen the Company's global presence in the pipe manufacturing industry. The acquisition is expected to provide access to infrastructure, energy, desalination and industrial opportunities in the Kingdom of Saudi Arabia and strengthen the Company's Middle East and international operations. NPC has an installed manufacturing capacity of approximately 430,000 MT per annum. Going forward, the facility will also have Coating Mill with External & Internal Coating Plant to serve the Kingdom's growing demand for coated pipeline solutions.

Man Industries (India) will hold a meeting of the Board of Directors of the Company on 25 May 2026.

EBITDA improved by 61.4% to Rs 136 crore in Q3 FY26 from Rs 84 crore in Q3 FY25. EBITDA margin was 16.2% in Q3 FY26, reflecting the highest consolidated quarterly margin achieved by the company to date. This strong performance was driven by a favourable product and geographic mix. The company maintained a net cash position of around Rs 38 crore as of 31 December 2025, reflecting a healthy balance sheet. The company's executable order book stood at around Rs 4,000 crore, providing healthy revenue visibility over the next 6'12 months and underpinning growth momentum in the coming quarters. Man Industries' strategic capacity expansion initiatives in Saudi Arabia and Jammu are progressing as planned, with key civil works and major equipment installations largely completed. The Saudi facility is expected to commence commercial production by Q1 FY27, strengthening the company's regional footprint, while the Jammu facility remains on track for commissioning by Q2 FY27. The company added that the outlook for the year remains strong, supported by steady order execution and healthy order inflows, and reiterated its full-year revenue guidance of Rs 3,600'3,700 crore, implying 15'20% year-on-year growth in its core business. Nikhil Mansukhani, managing director, MAN Industries (India), said, We are pleased to report our highest-ever quarterly EBITDA margins, reflecting the strength of our strategy, disciplined execution, and continued focus on operational efficiency. With a record order book, steady progress on our capacity expansions in Saudi Arabia and Jammu, and an expanding global footprint, we are well positioned for the next phase of growth. Our emphasis on value-added products, prudent capital allocation, and customer diversification will continue to support sustainable performance and strengthen our leadership in the global line pipe industry.' Man Industries is a leading manufacturer and exporter of large-diameter carbon steel line pipes for various high-pressure transmission applications for gas, crude oil, petrochemical products, and potable water.Powered by Capital Market - Live

Net profit of Man Industries (India) rose 61.31% to Rs 55.04 crore in the quarter ended December 2025 as against Rs 34.12 crore during the previous quarter ended December 2024. Sales rose 13.45% to Rs 830.38 crore in the quarter ended December 2025 as against Rs 731.94 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales830.38731.94 13 OPM %15.3710.76 - PBDT97.7858.10 68 PBT76.2946.86 63 NP55.0434.12 61 Powered by Capital Market - Live

Man Industries (India) will hold a meeting of the Board of Directors of the Company on 9 February 2026.Powered by Capital Market - Live

Man Industries (India) announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 February 2026.Powered by Capital Market - Live