Ashish Kacholia’s multibagger pipes manufacturing stock with Rs 2,100 crore order book: Company obtained CE Certification from Bureau Veritas, France; details inside!
The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Small-cap Index is up by 63 per cent.
Man Industries (India) Limited's Anjar, Gujarat plant has been awarded CE Certification (Certificate No. N CE-PEDMM-MAN 001-24-IND) by Bureau Veritas, France. This certification verifies that the plant meets the European Union's strict safety and quality requirements for API 5L SAW and ERW Lines used in oil and gas applications. Additionally, the plant holds ISO 3834-2 welding certification issued by TUV-NORD, which is a mandatory requirement for doing business in the European market.
Earlier, the company secured new export orders valued at approximately Rs 505 crores from international customers. These orders are for the supply of various types of pipes and need to be completed within the next 6-8 months. This signifies the company's strong presence in the international market and the trust customers have in their capabilities.
Man Industries (India) Ltd, a leading manufacturer of large-diameter pipes for over 30 years, is one of India's biggest exporters of LSAW and HSAW pipes, with a production capacity of 1 million tonnes. Their product range caters to oil & gas, water, and other sectors, including pipes, bends, and coatings, and they boast an impressive track record of supplying over 17,000 kilometres of pipes worldwide to clients like GAIL, IOCL, and Shell.
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Man Industries has a market cap of over Rs 2,400 crore with a 3-year CAGR of 55 per cent. The current unexecuted order book as of today stands at Rs 2,100 crore which will be executed within the next 6 to 8 months. Additionally, the company reported positive numbers in its Quarterly Results and annual results.
An ace investor, Ashish Kacholia own a 2.10 per cent stake in the company as of March 2024. The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Small-Cap Index is up by 63 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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