Man Industries receive a new order

Man Industries (India) announced that it has received a new export order of around Rs 300 crore from Middle East and North Africa (MENA) region.

Considering this order, the total unexecuted order book of the company stands at nearly Rs 1,600 crore. Man Industries' standalone net profit for Q3FY20 significantly increased to Rs 29.33 crore by 89.1 per cent, in which net sales rose by 3.3 per cent YoY to Rs 532.60 crore in the recently-ended third quarter of FY20.

Man Industries (India) Limited is engaged in the manufacturing and coating of large diameter carbon steel pipes, infrastructure, realty and trading. It is a 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. Man Industries offer products including Longitudinal Submerged Arc Welded (LSAW) pipes, Helically Submerged Arc Welded (HSAW) pipes as well as coating products.

On Wednesday, the stock of the company closed at Rs 56.35, up by 2.83 per cent or Rs 1.55 per share. The intraday high is Rs 58.75 and intraday low is Rs 54.90. The 52-week high is Rs 74.30 and 52-week low is Rs 34.55 on BSE.