Man Industries slips despite bagging order worth Rs 766 crore

Man Industries, a flagship company of Man Group and a leading manufacturer & exporter of large diameter carbon steel line pipes, announced this morning that it has received a new order from the domestic hydrocarbon sector, which is worth Rs 766 crore.  

The main business line of the company comprises manufacturing & coating of large diameter carbon steel pipes, infrastructure, realty & trading. In just a decade of its venturing into the global market, the company has emerged out as a prominent player and  presently, caters to international clients in the oil & gas industry, petrochemicals, water, dredging & fertilisers.  

At present, the unexecuted order book of the company, including the above-mentioned order, stands at approximately Rs 1,900 crore, which is to be executed in the current financial year.     

This order exhibits a strong and thriving business environment of the company. It also showcases the trust that the customers have in the company’s technological and execution capabilities. 

At 12.33 pm today, the share price of Man Industries (India) Ltd stood at Rs 80.30, a decrease of 1.47 per cent over its previous closing price of Rs 81.50 on BSE.