Despite selling pressure, Man Industries ends in positive

Man Industries today informed the bourses that it has secured a new export worth Rs 450 crore. With this, the total unexecuted order book of the company now stands at Rs 2,000 crore to be executed in eight to nine months.  This order book translates into a book-to-bill of 1.5x on TTM revenue, giving a healthy revenue growth in the near term.      

In the third quarter of FY20, the net sales of Man Industries were up by 3.3 per cent YoY to Rs 532.6 crore while, the profit after tax jumped by nearly 89 per cent YoY to Rs 29.3 crore.

The stock of Man Industries in today’s session traded in a positive terrain and settled also in positive despite a selling pressure in the overall market. The stock which opened at Rs 53 apiece surged nearly eight per cent to touch an intra-day high of Rs 55.55 but with selling pressure in the market settled down for the day at Rs 53, up by 3.3 per cent.

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.