Man Industries (India)
Man Industries (India) Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Man Industries (India) Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Man Industries (India) Ltd trades at a P/E of 23.47× and P/B of 1.90×.
Valuation
Profitability
Growth
Financial Health
Man Industries (India) Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Man Industries (India) Ltd, switchable between annual and quarterly views, consolidated or standalone.
Man Industries (India) Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹4,455.57 Cr and reported EPS of ₹23.26.
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 1,608 | 2,222 | 1,759 | 2,080 | 2,139 | 2,231 | 3,142 | 3,505 | 3,564 |
| Other Income | 57 | 21 | 17 | 31 | 37 | 40 | 52 | 52 | 29 |
| Total Income | 1,664 | 2,242 | 1,776 | 2,111 | 2,176 | 2,271 | 3,194 | 3,557 | 3,592 |
| Cost of Goods Sold (COGS) | 1,209 | 1,697 | 1,263 | 1,404 | 1,583 | 1,773 | 2,403 | 2,735 | 2,229 |
| Gross Profit | 398 | 525 | 496 | 676 | 555 | 458 | 739 | 771 | 1,335 |
| +Operating Expenses | 274 | 346 | 328 | 471 | 375 | 321 | 498 | 469 | 896 |
| EBITDA | 125 | 179 | 168 | 205 | 181 | 137 | 241 | 301 | 439 |
| +Non-Operating Expenses | 79 | 111 | 114 | 99 | 83 | 86 | 149 | 145 | 231 |
| Profit Before Tax (PBT) | 95 | 88 | 65 | 137 | 135 | 90 | 144 | 208 | 237 |
| +Tax Expense | 32 | 30 | 10 | 36 | 33 | 22 | 39 | 55 | 66 |
| Profit After Tax (PAT) | 64 | 59 | 56 | 101 | 102 | 68 | 105 | 153 | 170 |
| Earnings Per Share (EPS) | 11.12 | 10.30 | 9.72 | 17.66 | 17.16 | 11.31 | 16.24 | 23.66 | 22.73 |
| Diluted Shares Outstanding (Nos.) | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 8 |
| +Additional Disclosures | 2,775 | 3,853 | 2,978 | 3,376 | 3,620 | 3,957 | 5,455 | 6,089 | 5,597 |
| Sales Growth % | — | 38.21 | -20.81 | 18.24 | 2.81 | 4.34 | 40.82 | 11.56 | 1.67 |
| YoY Sales Growth % | — | 38.21 | -20.81 | 18.24 | 2.81 | 4.34 | 40.82 | 11.56 | 1.67 |
| Material Cost % | 83 | 68 | 66 | 62 | 72 | 65 | 79 | 67 | 62 |
| Employee Cost % | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 | 3 |
| Other Cost % | 14 | 13 | 15 | 20 | 15 | 12 | 14 | 11 | 23 |
| OPM % | 8 | 8 | 10 | 10 | 8 | 6 | 8 | 9 | 12 |
| Tax % | 33 | 33 | 15 | 26 | 25 | 25 | 27 | 26 | 28 |
| Profit Growth % | — | -7.37 | -5.68 | 81.71 | 0.72 | -33.06 | 54.62 | 45.68 | 11.30 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 85 | 133 | 116 | 159 | 135 | 92 | 180 | 256 | 360 |
Man Industries (India) segment analysis: revenue and profit mix.
Disclosed business segments at Man Industries (India) with their share of revenue and profit, switchable between consolidated and standalone reporting.
Man Industries (India) discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Man Industries (India) Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Man Industries (India) Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Man Industries (India) Ltd's investment case rests on 7 positive markers and 7 flagged concerns drawn from the latest reported filings.
What you're getting.
Man Industries shows robust quarterly profit growth, with a significant 45.00% increase in the latest quarter, indicating strong operational performance and potential for sustained earnings.
The company maintains a healthy Return on Capital Employed (ROCE) of 16.00% and a Return on Equity (ROE) of 10.00%, reflecting efficient capital utilization and solid profitability.
A very low debt-to-equity ratio of 0.30 highlights the company's strong financial stability and manageable debt burden, providing flexibility for future growth initiatives.
With a Price-to-Earnings (PE) ratio of 19.20, the company is reasonably valued compared to some peers, suggesting market confidence in its earnings potential.
The company's position in the Iron & Steel Products sector within Capital Goods suggests potential growth from increasing infrastructure development and industrial expansion.
What can break it.
Despite recent quarterly profit growth, the company's historical net profit figures show volatility, with fluctuations from -5 to 68, raising concerns about earnings consistency.
Promoter holding has seen a decline from 48.21% in June 2025 to 43.21% in September 2025, which could signal reduced insider confidence or potential future dilution.
The stock price has exhibited significant volatility, ranging from a 52-week high of 468.00 to a low of 201.55, posing a risk for investors seeking stable returns.
While the debt-to-equity ratio is low at 0.30, the absolute debt of 476 Cr still requires careful monitoring to ensure it doesn't strain future financial flexibility.
The company operates in the cyclical Iron & Steel Products industry, making it vulnerable to global economic slowdowns and fluctuations in raw material prices, impacting profitability.
What would change my mind.
Trim if P/E re-rates above 31. The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 30.60. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 8%. The operating engine is no longer compounding capital efficiently.
Man Industries (India) Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Man Industries (India) Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Man Industries (India) Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Man Industries (India) Ltd — derived from the live tape, not yesterday's close.
Man Industries (India) Ltd last traded at ₹592.6 with an intraday range of ₹571.05–₹598.5 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹592.60| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 658.62 | +66.02 | +11.14% |
| R3 | 631.17 | +38.57 | +6.51% |
| R2 | 614.83 | +22.23 | +3.75% |
| R1 | 603.72 | +11.12 | +1.88% |
| PIVOT | 587.38 | -5.22 | -0.88% |
| CURRENT | 592.60 | — | — |
| S1 | 521.37 | -71.23 | -12.02% |
| S2 | 548.82 | -43.78 | -7.39% |
| S3 | 559.93 | -32.67 | -5.51% |
| S4 | 576.27 | -16.33 | -2.76% |
MANINDS is trading Above CPR, indicating Bullishness
CPR is Wider, suggesting unlikely for trending moves
Day's range: 571.05 ~ 577.95
Trading Above opening range, showing Bullishness
Man Industries (India) Ltd chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Man Industries (India) Ltd — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Man Industries (India) Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Man Industries (India) Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Man Industries (India) Ltd stood at 54.1% of traded volume, against a 20-day average of 42.4%.
Man Industries (India) announcements: results, concalls, ratings, M&A.
Filings Man Industries (India) sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Man Industries (India) files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 159 documents below.
Spurt in Volume
Significant increase in volume has been observed in Man Industries (India) Limited. The Exchange, in order to ensure that investors have latest…
Credit Rating
Man Industries (India) Limited has informed the Exchange about Credit Rating
Analysts/Institutional Investor Meet/Con. Call Updates
Man Industries (India) Limited has informed the Exchange about Transcript
Statement of deviation(s) or variation(s) under Reg. 32
Man Industries (India) Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
Copy of Newspaper Publication
Man Industries (India) Limited has informed the Exchange about Copy of Newspaper Publication
Investor decks & rating reports.
Man Industries (India) insider trading: promoter and management activity.
Promoter, director and designated-employee transactions in Man Industries (India) as reported to SEBI — buying and selling signals from the people who know the business best.
Man Industries (India) insider activity below tracks 4 reported promoter, director and designated-employee transactions under SEBI Regulation 7(2).
| Insider | Category | Txn Date | Action | Quantity | Value (₹) | Price |
|---|---|---|---|---|---|---|
| MAN FINANCE PRIVATE LIMITED | Insider | 28 May 2025 | buy | +25.00 L | ₹45.88 Cr | ₹183.50 |
| Man Finance Private Limited | Insider | 07 Mar 2025 | buy | +9.4 K | ₹25.17 L | ₹268.78 |
| Man Finance Private Limited | Insider | 04 Mar 2025 | buy | +9.2 K | ₹20 L | ₹217.96 |
| Man Finance Private Limited | Insider | 03 Mar 2025 | buy | +20.0 K | ₹41.47 L | ₹207.36 |
Man Industries (India) dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Man Industries (India) has declared, sequenced by announce and record date.
Man Industries (India) corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Man Industries (India) Ltd: business, sector, key facts.
What Man Industries (India) Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Man Industries (India) Ltd operates in the Basic Materials, listed as NSE: MANINDS, BSE: 513269.
Man Industries (India) Limited is a prominent player in India's steel manufacturing and trading sector, specializing in the production and processing of high-quality submerged arc welded (SAW) pipes and related steel products. Their core competency lies in the creation of durable and reliable pipes intended for a variety of demanding applications across several key industries.
The company's product portfolio is diverse and caters to a broad spectrum of customer needs. This includes a comprehensive range of SAW pipes, encompassing both longitudinal and helically welded varieties. These pipes are specifically designed for use in critical infrastructure projects within the oil, gas, petrochemical, water dredging, and fertilizer sectors, highlighting the company's focus on serving industries requiring robust and reliable piping solutions.
Beyond the manufacturing of the pipes themselves, Man Industries offers a complete suite of value-added services. This involves sophisticated coating systems designed to enhance the longevity and performance of their products. These coatings include internal blasting and painting, coal tar enamel application, and various polymeric coatings such as fusion bonded epoxy, 3-layer polyethylene, and 3-layer polypropylene. These coatings are crucial for protecting the pipes from corrosion and environmental degradation, extending their operational lifespan and ensuring efficient performance in challenging environments.
Further expanding their product offerings, Man Industries also manufactures and supplies ERW pipes (electric resistance welded), steel bends, and stainless steel components. This diversification strengthens their market position by providing a wider range of solutions to their clients and catering to the varied demands of different projects. The company actively participates in international markets, exporting a significant portion of its production to global customers, thereby demonstrating its competitive edge in both domestic and international markets.
Established in 1988 and headquartered in Mumbai, Man Industries has a long history of supplying high-quality steel products to a wide array of industries. Their integrated approach to manufacturing, encompassing pipe production, coating application, and diverse product offerings, positions them as a significant and reliable supplier within the Indian and global steel industry.
Questions investors ask about Man Industries (India) Ltd (MANINDS).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Man Industries (India) Ltd (MANINDS)?
The current share price of Man Industries (India) Ltd (MANINDS) is ₹592.6. Today, the stock has gained by ₹21.30 (3.73%), trading in a range of ₹571.05 to ₹598.5. The stock opened at ₹574 with a trading volume of 8,81,298 shares.
02Is Man Industries (India) Ltd stock a good investment for long-term?
Man Industries (India) Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹4,455.57 crores, P/E ratio of 23.47, ROE of 9.23%, and ROCE of 16.00%. The dividend yield stands at 0.00%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Man Industries (India) Ltd stock?
The 52-week high price of Man Industries (India) Ltd (MANINDS) is ₹606.4, while the 52-week low is ₹302.05. Currently trading at ₹592.6, the stock is 95.5% away from its 52-week low and 2.3% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Man Industries (India) Ltd stock at the current price?
Whether to buy Man Industries (India) Ltd stock at ₹592.6 depends on multiple factors. The stock is currently trading with a P/E ratio of 23.47 and P/B ratio of 1.90. Today's performance shows a gain of 3.73%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Man Industries (India) Ltd and when is the next dividend?
Man Industries (India) Ltd offers a dividend yield of 0.00%, which means for every ₹100 invested at the current price of ₹592.6, you can expect to receive approximately ₹0.00 annually as dividends. The face value of the stock is ₹5.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Man Industries (India) Ltd?
Man Industries (India) Ltd's key financial metrics include: P/E Ratio: 23.47, P/B Ratio: 1.90, ROE: 9.23%, ROCE: 16.00%, Dividend Yield: 0.00%, EPS: ₹23.26, Book Value: ₹287.23, and Debt-to-Equity: 30.10. The company's market cap stands at ₹4,455.57 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Man Industries (India) Ltd stock performing today in the market?
Man Industries (India) Ltd stock opened at ₹574 and is currently trading at ₹592.6, showing a gain of ₹21.30 (3.73%). The intraday high is ₹598.5 and low is ₹571.05. The trading volume stands at 8,81,298 shares, indicating moderate market participation today.
08What is the P/E ratio of Man Industries (India) Ltd and what does it indicate?
Man Industries (India) Ltd has a Price-to-Earnings (P/E) ratio of 23.47, which means investors are willing to pay ₹23.47 for every ₹1 of earnings. With an EPS of ₹23.26, this P/E ratio indicates moderate valuation in line with market standards. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Man Industries (India) Ltd (MANINDS) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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