Rs 1,600 crore order book: This multibagger small-cap company is likely to raise funds via rights issue!

The stock gave multibagger returns of 108 per cent in just 6 months whereas BSE Small-cap Index is up by 37 per cent.

Man Industries Ltd informed that a meeting of the Board of Directors of the Company will be held on Saturday, October 7, 2023, to inter alia; consider and approve the proposal for raising funds by way of the issue of one or more instruments including Equity Shares, Convertible or Non-Convertible Securities of any description or Warrants or Debt Securities, through Preferential Issue, Private Placements, Rights Issue or any other methods or combination.

Earlier, the company received new orders of approx. Rs 400 crore from domestic customer. The order is to supply various types of pipes and will be completed within 6 months from LOI. The total unexecuted order book as of today stands at approximately Rs 1,600 crore to be executed in 6 months.

Man Industries Ltd is one of the largest manufacturers and exporters of LSAW and HSAW pipes in India with a total installed capacity of 1 million tonnes.

On Thursday, shares of Man Industries Ltd zoomed 2.73 per cent to Rs 193.65 per share from its previous closing of Rs 188.50. The stock’s 52-week high is Rs 196.40 and its 52-week low is Rs 71.70.

Talking about the financials, Man Industries has a market cap of Rs 1,155 crore with a 3-year CAGR of 50 per cent. The company reported positive numbers for Quarterly Results and annual results. The stock has a PE of 16.5x whereas the sectoral PE is 28x.

The stock gave multibagger returns of 108 per cent in just 6 months whereas BSE Small-Cap Index is up by 37 per cent. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.