MAN Industries (India) Ltd., a large diameter pipe manufacturing company, has announced its financial results for the quarter ended June 30, 2024. MAN Industries (India) reported a consolidated revenue at Rs. 748.7 crore (+52.7% Y-o-Y) (approx. EUR 80M) with an EBITDA of Rs. 57.9 crore (+14.7% Y-o-Y).
The company reported EBITDA and PAT are quite strong on a year-over-year basis. The company envisages sustainable margins going forward on ramp-up of ERW mill and value-added products like API Pipes, whose production was delayed due to certification and approval process and got started in Q4FY24.
The current unexecuted order book, currently, stands at approx. Rs. 4,000 crore (approx. Eur 430M), to be executed within the next 6 to 12 months.
Man Industries (India) is going ahead with its expansion plan of setting up a new plant at Dammam, Saudi Arabia with an approx. cost of Rs 600 crore.
This plant will include line pipe manufacturing and a coating facility. On operational front, it has a strong order book of approx. Rs 4,000 crore to be concluded in next 6 to 12 months.
