MANINDS - Man Industries (India) Ltd Share Price

Industrial Products

₹406.70-6.80(-1.64%)

Market Closed as of Sep 29, 2025, 15:30 IST

Select time range

Valuation
Market Cap	3.07 kCr
Price/Earnings (Trailing)	17.39
Price/Sales (Trailing)	0.86
EV/EBITDA	8.74
Price/Free Cashflow	-35.17
MarketCap/EBT	14.03
Enterprise Value	3.28 kCr

Fundamentals
Revenue (TTM)	3.56 kCr
Rev. Growth (Yr)	0.60%
Earnings (TTM)	161.73 Cr
Earnings Growth (Yr)	44.9%

Profitability
Operating Margin	6%
EBT Margin	6%
Return on Equity	10.06%
Return on Assets	4.28%
Free Cashflow Yield	-2.84%

Price to Sales Ratio

Latest reported: 1

Revenue (Last 12 mths)

Latest reported: 4 kCr

Net Income (Last 12 mths)

Latest reported: 162 Cr

Growth & Returns
Price Change 1W	-3.2%
Price Change 1M	2.3%
Price Change 6M	59%
Price Change 1Y	4.9%
3Y Cumulative Return	64.4%
5Y Cumulative Return	47.4%
7Y Cumulative Return	22.2%
10Y Cumulative Return	15.2%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-44.7 Cr
Cash Flow from Operations (TTM)	66.93 Cr
Cash Flow from Financing (TTM)	34.05 Cr
Cash & Equivalents	244.88 Cr
Free Cash Flow (TTM)	-87.39 Cr
Free Cash Flow/Share (TTM)	-11.65

Balance Sheet
Total Assets	3.78 kCr
Total Liabilities	2.17 kCr
Shareholder Equity	1.61 kCr
Current Assets	2.75 kCr
Current Liabilities	1.98 kCr
Net PPE	572.41 Cr
Inventory	1.27 kCr
Goodwill	68.82 Cr

Capital Structure & Leverage
Debt Ratio	0.12
Debt/Equity	0.28
Interest Coverage	0.96
Interest/Cashflow Ops	1.6

Dividend & Shareholder Returns
Dividend Yield	0.46%
Shares Dilution (1Y)	15.9%
Shares Dilution (3Y)	24.8%

Pros

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Technicals: Bullish SharesGuru indicator.

Balance Sheet: Reasonably good balance sheet.

Past Returns: Outperforming stock! In past three years, the stock has provided 64.4% return compared to 11.2% by NIFTY 50.

Cons

Insider Trading: Significant insider selling noticed recently.

Dilution: Company has a tendency to dilute it's stock investors.

Momentum: Stock has a weak negative price momentum.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	0.46%
Shares Dilution (1Y)	15.9%
Earnings/Share (TTM)	23.56

Financial Health
Current Ratio	1.39
Debt/Equity	0.28

Technical Indicators
RSI (14d)	60.66
RSI (5d)	15.4
RSI (21d)	53.69
MACD Signal	Buy
Stochastic Oscillator Signal	Hold
Grufity Signal	Buy
RSI Signal	Hold
RSI5 Signal	Buy
RSI21 Signal	Hold
SMA 5 Signal	Sell
SMA 10 Signal	Buy
SMA 20 Signal	Buy
SMA 50 Signal	Sell
SMA 100 Signal	Sell

Summary of Latest Earnings Report from Man Industries (India)

Summary of Man Industries (India)'s latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated:

Q&A Session

Last updated:

Revenue Breakdown

Analysis of Man Industries (India)'s financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.

Revenue

Last Updated: Mar 31, 2025

Description	Share	Value
Manufacturing	69.7%	849.9 Cr
Real Estate	30.3%	368.6 Cr
Total		1.2 kCr

Share Holdings

Understand Man Industries (India) ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
Rameshchandra Mansukhani	15%
Man Finance Private Limited	11.96%
Heena Vinay Kalantri	6.48%
Nikhil Mansukhani	4.78%
Rba & Finance Investment Co. (Partnership Firm)	3.04%
Man Global Limited	2.46%
Deepadevi Rameshchandra Mansukhani	2.41%
Vikas Vijaykumar Khemani	2.18%
Ashish Kacholia	1.82%
Hiten Dilip Bhatia	1.32%
The Court Receiver High Court Bombay(Com Arb Pet No 31/2020)	1.29%
B Arunkumar Capital & Credit Services Private Limited	1.26%
Carnelian Structural Shift Fund	1.02%
Rameshchandra Mansukhani (HUF)	0.1%
Jagdishchandra Jhamaklal Mansukhani (Refer note)	0.02%
Anita Jagdish Mansukhani (Refer note)	0.01%
Man Tubinox Limited (Refer note)	0%
Jpa Solutions Private Limited (Refer note)	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is Man Industries (India) Better than it's peers?

Detailed comparison of Man Industries (India) against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
APLAPOLLO	APL Apollo Tubes	47.24 kCr	20.98 kCr	+7.60%	+19.70%	58.96	2.25	-	-
WELCORP	Welspun Corp	23.16 kCr	14.57 kCr	-0.70%	+28.20%	11.48	1.59	-	-
RATNAMANI	Ratnamani Metals & Tubes	16.66 kCr	5.23 kCr	+1.00%	-38.40%	29.35	3.18	-	-
JINDALSAW	Jindal Saw	13.27 kCr	14.52 kCr	+2.10%	-41.10%	8.97	0.91	-	-
MAHSEAMLES	Maharashtra Seamless	8.4 kCr	5.56 kCr	-8.50%	-5.00%	9.56	1.51	-	-

Sector Comparison: MANINDS vs Industrial Products

Comprehensive comparison against sector averages

Comparative Metrics

MANINDS metrics compared to Industrial

Category	MANINDS	Industrial
PE	17.39	22.60
PS	0.86	1.64
Growth	2.3 %	2.2 %

Performance Comparison

MANINDS vs Industrial (2021 - 2025)

Key Insights

1. MANINDS is NOT among the Top 10 largest companies in Iron & Steel Products.
2. The company holds a market share of 2.1% in Iron & Steel Products.
3. The company is growing at an average growth rate of other Iron & Steel Products companies.

Income Statement for Man Industries (India)

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	11.6%	3,505	3,142	2,231	2,139	2,080	1,759
Other Income	0%	52	52	40	37	31	17
Total Income	11.4%	3,557	3,194	2,271	2,176	2,111	1,776
Cost of Materials	-6.1%	2,336	2,487	1,456	1,535	1,283	1,166
Purchases of stock-in-trade	511.9%	258	43	233	63	181	100
Employee Expense	11.8%	77	69	60	54	55	56
Finance costs	13.8%	100	88	41	37	53	64
Depreciation and Amortization	-26.7%	45	61	45	45	46	52
Other expenses	-8.6%	392	429	261	321	416	272
Total Expenses	9.8%	3,349	3,050	2,181	2,041	1,974	1,708
Profit Before exceptional items and Tax	44.8%	208	144	90	135	137	68
Exceptional items before tax	-	0	0	0	0	0	-2.5
Total profit before tax	44.8%	208	144	90	135	137	65
Current tax	44.4%	53	37	21	36	37	23
Deferred tax	25.4%	1.84	1.67	1.53	-2.89	-1.17	-12.84
Total tax	42.1%	55	39	22	33	36	9.76
Total profit (loss) for period	46.2%	153	105	68	102	101	56
Other comp. income net of taxes	1396.3%	5.04	1.27	3.43	-4.4	-2.62	6.74
Total Comprehensive Income	49.5%	158	106	71	97	98	62
Earnings Per Share, Basic	38%	23.66	17.42	11.33	17.78	17.66	9.72
Earnings Per Share, Diluted	38.5%	22.78	16.73	11.33	17.52	16.78	9.72

Description	(%) Q/Q	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024
Revenue From Operations	-39.1%	742	1,218	732	806	749	811
Other Income	114.3%	31	15	5.54	11	20	14
Total Income	-37.3%	774	1,234	737	817	769	825
Cost of Materials	-22.1%	515	661	543	548	583	619
Purchases of stock-in-trade	936.4%	115	12	74	78	94	31
Employee Expense	-5%	20	21	16	20	20	18
Finance costs	-14.7%	30	35	26	21	18	25
Depreciation and Amortization	20%	13	11	11	11	13	15
Other expenses	-18.8%	83	102	114	107	68	94
Total Expenses	-35.7%	735	1,143	691	774	741	793
Profit Before exceptional items and Tax	-58.9%	38	91	47	43	28	32
Total profit before tax	-58.9%	38	91	47	43	28	32
Current tax	-65.2%	9	24	12	11	6.76	7.22
Deferred tax	140.3%	1.64	-0.59	0.93	-0.19	1.69	1.09
Total tax	-54.5%	11	23	13	11	8.45	8.31
Total profit (loss) for period	-59.7%	28	68	34	32	19	24
Other comp. income net of taxes	-182.6%	-1.85	4.45	-0.61	0.99	0.21	0.2
Total Comprehensive Income	-65.3%	26	73	34	33	19	24
Earnings Per Share, Basic	-61.6%	4.13	9.15	5.36	4.92	2.94	4
Earnings Per Share, Diluted	-60%	4.13	8.82	5.16	4.74	2.83	3.84

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	1.2%	3,118	3,080	2,092	2,094	2,075	1,759
Other Income	30.8%	86	66	40	37	31	17
Total Income	1.8%	3,204	3,146	2,133	2,131	2,106	1,776
Cost of Materials	-4.7%	2,328	2,442	1,456	1,492	1,283	1,166
Purchases of stock-in-trade	471.1%	258	46	98	63	177	100
Employee Expense	9.1%	73	67	58	53	54	54
Finance costs	14%	99	87	41	37	53	64
Depreciation and Amortization	-28.8%	43	60	45	45	46	52
Other expenses	-9.6%	388	429	260	321	417	276
Total Expenses	0.7%	3,019	2,998	2,043	1,997	1,969	1,709
Profit Before exceptional items and Tax	25%	186	149	90	135	136	66
Exceptional items before tax	-	0	0	0	0	0	-2.5
Total profit before tax	25%	186	149	90	135	136	64
Current tax	25%	46	37	21	36	37	23
Deferred tax	423.5%	2.78	1.34	1.53	-2.89	-1.17	-12.84
Total tax	23.7%	48	39	22	33	36	9.76
Total profit (loss) for period	24.8%	137	110	67	101	101	54
Other comp. income net of taxes	1752.6%	4.52	1.19	4.82	-4.14	-2.62	6.69
Total Comprehensive Income	28.2%	142	111	72	97	98	61
Earnings Per Share, Basic	17.4%	21.18	18.19	11.21	17.72	17.62	9.45
Earnings Per Share, Diluted	17.8%	20.39	17.46	11.21	17.46	16.74	9.45

Description	(%) Q/Q	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024
Revenue From Operations	-16.1%	713	850	731	805	732	778
Other Income	-5.6%	35	37	15	8.78	25	18
Total Income	-15.8%	748	888	745	814	757	796
Cost of Materials	-26%	494	667	549	543	569	602
Purchases of stock-in-trade	936.4%	115	12	74	78	94	34
Employee Expense	-5.6%	18	19	17	18	19	18
Finance costs	-14.7%	30	35	26	21	18	24
Depreciation and Amortization	22.2%	12	10	11	10	12	15
Other expenses	-18.6%	80	98	114	108	68	94
Total Expenses	-14.7%	709	831	695	768	725	771
Profit Before exceptional items and Tax	-32.1%	39	57	50	46	32	25
Total profit before tax	-32.1%	39	57	50	46	32	25
Current tax	-46.7%	9	16	12	11	6.76	7.22
Deferred tax	55.6%	0.84	0.64	0.85	0.07	1.21	0.89
Total tax	-44.8%	9.84	17	13	11	7.97	8.11
Total profit (loss) for period	-28.2%	29	40	38	35	24	17
Other comp. income net of taxes	-197.3%	-1.84	3.92	-0.62	0.92	0.29	0.12
Total Comprehensive Income	-39.5%	27	44	37	36	24	17
Earnings Per Share, Basic	-36.8%	4.36	6.32	5.72	5.42	3.73	2.86
Earnings Per Share, Diluted	-34%	4.36	6.09	5.5	5.21	3.59	2.74

Balance Sheet for Man Industries (India)

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	269.7%	245	67	189	114	37	47
Current investments	-76%	26	105	228	30	0.32	0.07
Loans, current	-123.4%	0.18	4.5	2.15	1.94	72	1.13
Total current financial assets	45.2%	1,311	903	851	761	744	663
Inventories	14.5%	1,269	1,108	646	697	121	444
Current tax assets	-	0	0	0	0	1.25	0
Total current assets	28.8%	2,751	2,136	1,598	1,566	940	1,220
Property, plant and equipment	6.3%	572	538	540	511	489	301
Capital work-in-progress	312.5%	133	33	31	53	14	70
Investment property	0%	1.43	1.43	1.43	1.7	0	0
Goodwill	3%	69	67	64	62	0	0
Non-current investments	-	0	0	0	0	102	102
Total non-current financial assets	47.5%	150	102	114	96	199	182
Total non-current assets	11.5%	1,029	923	818	772	788	630
Total assets	-	3,779	-	-	-	-	-
Total assets	-	3,779	-	-	-	-	-
Total assets	23.5%	3,779	3,059	2,415	2,338	1,728	1,850
Borrowings, non-current	-16%	138	164	136	142	128	20
Total non-current financial liabilities	-14%	154	179	150	156	129	23
Provisions, non-current	-	1.64	0	0.54	1.8	2.31	1.88
Total non-current liabilities	-10.6%	187	209	180	186	159	51
Borrowings, current	802.9%	317	36	172	47	166	66
Total current financial liabilities	16.1%	1,555	1,339	706	966	534	846
Provisions, current	-99%	1.09	9.81	6.85	5.63	6.79	5.8
Current tax liabilities	227.1%	2.08	0.15	5.4	5.86	0	0.46
Total current liabilities	42.8%	1,985	1,390	830	980	564	857
Total liabilities	-	2,172	-	-	-	-	-
Total liabilities	-	2,172	-	-	-	-	-
Total liabilities	35.9%	2,172	1,599	1,010	1,166	724	908
Equity share capital	0%	32	32	32	30	30	30
Total equity	10.1%	1,607	1,460	1,405	1,172	1,004	942
Total equity and liabilities	23.5%	3,779	3,059	2,415	2,338	1,728	1,850

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	143.1%	159	66	161	109	28	43
Current investments	-82.8%	18	100	223	26	0.25	0
Loans, current	-29.9%	137	195	179	125	100	9.16
Total current financial assets	33.7%	1,425	1,066	981	864	755	638
Inventories	14.7%	932	813	352	400	107	423
Current tax assets	-	0	0	0	0	1.25	0
Total current assets	26.2%	2,513	1,992	1,414	1,367	936	1,173
Property, plant and equipment	2.3%	499	488	504	486	483	295
Capital work-in-progress	232.1%	94	29	31	40	3.08	66
Non-current investments	0%	197	197	145	136	136	136
Loans, non-current	-	12	0	0	0	0	0
Total non-current financial assets	2.3%	359	351	258	303	232	215
Total non-current assets	0.4%	959	955	867	847	790	648
Total assets	17.8%	3,472	2,947	2,282	2,214	1,727	1,822
Borrowings, non-current	-29.5%	137	194	135	140	128	20
Total non-current financial liabilities	-27.2%	151	207	148	155	129	23
Provisions, non-current	-	1.64	0	0.54	1.8	1.96	1.88
Total non-current liabilities	-22.5%	184	237	177	185	159	51
Borrowings, current	8465.7%	216	3.51	172	54	170	69
Total current financial liabilities	10.3%	1,443	1,308	704	969	535	819
Provisions, current	-98.8%	1.07	6.69	6.47	5.08	6.6	5.66
Current tax liabilities	-93.6%	2.08	18	6.3	5.86	0	0.46
Total current liabilities	36.3%	1,869	1,372	826	983	565	830
Total liabilities	27.7%	2,054	1,609	1,004	1,167	724	881
Equity share capital	0%	32	32	32	30	30	30
Total equity	6.1%	1,419	1,338	1,278	1,047	1,003	941
Total equity and liabilities	17.8%	3,472	2,947	2,282	2,214	1,727	1,822

Cash Flow for Man Industries (India)

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	7.6%	100	93	41	37	-	-
Change in inventories	-160.1%	-622.91	-238.85	198	13	-	-
Depreciation	-26.7%	45	61	45	45	-	-
Unrealised forex losses/gains	-16.1%	-31.85	-27.3	12	-18.76	-	-
Dividend income	-9.1%	0.04	0.12	0	0	-	-
Adjustments for interest income	-17.6%	15	18	0	0	-	-
Net Cashflows from Operations	-59%	120	291	-114.3	454	-	-
Dividends received	-	0.04	0	-0.18	0	-	-
Interest received	-	0	0	-4.27	-2.72	-	-
Income taxes paid (refund)	62.5%	53	33	0	0	-	-
Net Cashflows From Operating Activities	-74.2%	67	257	-118.75	451	-	-
Proceeds from sales of PPE	-4.2%	0	0.04	0	0	-	-
Purchase of property, plant and equipment	28.6%	154	120	207	46	-	-
Proceeds from sales of investment property	-	0	0	42	2.11	-	-
Dividends received	-13.6%	0	0.12	0.18	0	-	-
Interest received	-103.8%	0	27	4.27	2.72	-	-
Other inflows (outflows) of cash	-253.1%	-92.41	62	25	-78.21	-	-
Net Cashflows From Investing Activities	82.7%	-44.7	-263.69	-135.49	-119.06	-	-
Proceeds from changes in ownership interests in subsidiaries	-	4.41	0	0	0	-	-
Proceeds from issuing shares	-100.6%	0	179	4.5	10	-	-
Proceeds from borrowings	88.5%	148	79	263	0	-	-
Repayments of borrowings	51%	0	-1.04	0	234	-	-
Payments of lease liabilities	1.3%	6.6	6.53	5.25	5.25	-	-
Dividends paid	-109.1%	0	12	12	0	-	-
Interest paid	25%	111	89	41	38	-	-
Other inflows (outflows) of cash	-117.3%	0	6.79	0	0	-	-
Net Cashflows from Financing Activities	-79%	34	158	209	-267.22	-	-
Net change in cash and cash eq.	-63.6%	56	152	-45.06	65	-	-

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	14%	99	87	41	37	-	-
Change in inventories	-137%	-580.2	-244.2	198	26	-	-
Depreciation	-28.8%	43	60	45	45	-	-
Unrealised forex losses/gains	-16.1%	-31.85	-27.3	12	-18.76	-	-
Dividend income	-	0.04	0	0	0	-	-
Adjustments for interest income	58.8%	28	18	0	0	-	-
Net Cashflows from Operations	-57.5%	142	333	-106.81	441	-	-
Interest paid	-	113	0	0	0	-	-
Interest received	-	0	0	-5.08	-2.82	-	-
Income taxes paid (refund)	-103.1%	0	33	0	0	-	-
Net Cashflows From Operating Activities	-90.6%	29	299	-111.89	438	-	-
Purchase of property, plant and equipment	0%	94	94	199	36	-	-
Proceeds from sales of investment property	-	0	0	43	2.11	-	-
Dividends received	-	0.04	0	0	0	-	-
Interest received	-112.8%	0	8.8	5.08	2.82	-	-
Other inflows (outflows) of cash	-101.6%	0	62	25	-77.91	-	-
Net Cashflows From Investing Activities	143.7%	111	-250.87	-126.06	-108.94	-	-
Proceeds from changes in ownership interests in subsidiaries	-	-52.07	0	0	0	-	-
Proceeds from issuing shares	-100.6%	0	170	4.5	10	-	-
Proceeds from borrowings	477.7%	46	8.79	241	0	-	-
Repayments of borrowings	-	0	0	0	234	-	-
Payments of lease liabilities	3.1%	6.7	6.53	0	0	-	-
Dividends paid	-109.1%	0	12	12	0	-	-
Interest paid	-101.2%	0	83	41	38	-	-
Income taxes paid (refund)	-	44	0	0	0	-	-
Other inflows (outflows) of cash	-1593.8%	-85.64	6.8	0	0	-	-
Net Cashflows from Financing Activities	-272.7%	-142.31	84	187	-267.06	-	-
Net change in cash and cash eq.	-102.3%	-1.97	132	-50.74	62	-	-

What does Man Industries (India) Ltd do?

Iron & Steel Products•Capital Goods•Small Cap

Man Industries (India) Limited manufactures, processes, and trades in submerged arc welded pipes and steel products in India. The company offers coating systems, which include internal blasting and painting, coal tar enamel; ERW pipes, steel bends, and stainless steel; fusion bonded epoxy, 3 layer polyethylene, and 3 layer polypropylene coating systems. It also offers longitudinal submerged and helically submerged arc welded line pipes for use in oil, gas, petrochemicals, water dredging, fertilizers sectors. The company exports its products. Man Industries (India) Limited was incorporated in 1988 and is based in Mumbai, India.

Industry Group:Industrial Products

Employees:794

Website:www.mangroup.com

MANINDS - Man Industries (India) Ltd Share Price

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does Man Industries (India) Ltd do?