Inve India ▾

Man Industries (India) share price & results

Man Industries (India) Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Manufactures large-diameter LSAW/HSAW/ERW steel pipes for oil & gas, water and CGD pipelines globally.

Company research is public. Sign in to keep your own companies, notes and cases.

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,053 ₹ crore+41.9% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin14.0 %+7.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit61.0 ₹ crore+117.9% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity11.04 %−0.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin3.70 %+6.0 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)10.75 %−9.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

2 of 3 judged targets kept · 20 open · verdicts reflect calls analysed to Q1 FY27.

Man Industries (India) Limited management guidance track record on Inve: 23 targets tracked across analysed earnings calls (2 achieved, 1 missed, 20 open).

TargetOriginal wordingSaidLatest callVerdict
Saudi Plant Operational TimelineQ3 FY26
Call transcript, Q3 FY25 · 13 Feb 2025		Q3 FY25Q1 FY27:Promise superseded by 'dammam-coating-commissioning'. The original pipe plant plan is defunct.
Call transcript, Q1 FY27 · 12 Aug 2026		Diluted
FY26 EBITDA Margin50 to 100 basis points improvement
Call transcript, Q4 FY25 · 13 May 2025		Q4 FY25Q4 FY26:Achieved 13% consolidated EBITDA margin for FY26, meeting the revised guidance of 13-14%.
Call transcript, Q4 FY26 · 26 May 2026		Achieved
FY26 Revenue Growth20% topline growth
Call transcript, Q4 FY25 · 13 May 2025		Q4 FY25Q4 FY26:Actual FY26 consolidated revenue was Rs. 3,592.5 cr, a ~1% growth YoY, missing the 20% target.
Call transcript, Q4 FY26 · 26 May 2026		Missed

Source: Inve Guidance Tracker for Man Industries (India) Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of Man Industries (India) Limited's 23 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 20 more targets are in the full ledger.

Free account: 5 full ledgers a month and one Inve Case. Pro opens 100 a month, ₹499.
See the full record

Price

₹798.8 +1.91% · +₹14.95

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance +97.2% 1Y

₹0.4k₹0.6k₹0.8k₹1.0kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 9 Feb 2026Q4 FY26 — 26 May 2026Q1 FY27 — 12 Aug 2026

1Y: ₹405.05 on 24 Oct 2025 → ₹798.8. High ₹1,020.35 (25 Sept 2026), low ₹310.55 (2 Feb 2026).

Previous close
₹783.85
Market cap
₹5.9k Cr
52-week range
₹310.55 – ₹1,020.35
One year
+98.26%
Price to earnings (TTM to Jun 2026)
28.82×
Return on equity (TTM to Jun 2026)
11.04%

Overview

Symbol
NSE:MANINDS
Industry
Industrials
Exchange
NSE
Currency
INR

What Man Industries (India) Limited does

Based on the company's own presentations, annual report and earnings calls.

Man Industries (India) Ltd. manufactures large-diameter steel line pipes — LSAW, HSAW and ERW, along with pipe coating (PE, CTE and concrete weight coating) — used in oil & gas, water, hydro-carbon and city-gas-distribution pipeline projects. It runs two manufacturing facilities in Anjar (Gujarat) and Pithampur (Madhya Pradesh), sells to domestic and international oil & gas majors as an approved vendor, and is expanding through a greenfield stainless-steel seamless pipe plant in Jammu and an acquired pipe-manufacturing subsidiary in Saudi Arabia. The group also holds a non-core real-estate asset (Merino Shelters) separate from the core pipe business.

Segments

  • Pipes (LSAW/HSAW/ERW manufacturing)
  • Real estate (Merino Shelters)
Total installed manufacturing capacity
1.2 million+ MTPA
Manufacturing facilities
2 plants — Anjar (Gujarat) and Pithampur (Madhya Pradesh), spanning ~182 acres combined
Production lines
6 pipe production lines
Global export footprint
30+ nations
Cumulative pipes supplied since inception
20,000+ km
Operating history
Incorporated in 1988; ~3 decades in the pipe industry
Founded 1988Headquarters Mumbai, Maharashtra, India Company website

How the price took the results

close before → close after

Q1 FY27
+7.1%
12 Aug
Q4 FY26
−2.3%
26 May
Q3 FY26
+5.5%
9 Feb
Q2 FY26
+10.7%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Your own record

Start an Inve Case for Man Industries (India) Limited

Free account: one company. Everything above stays public.

Write why you follow Man Industries (India) Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.

What an account adds

Keep reading

Other Capital Goods companies

All Capital Goods companies → · Capital Goods earnings growth →

Learn to analyse Man Industries (India) Limited

Guides on how to read this kind of business and the numbers that matter.