Mumbai, Aug 12: Man Industries Limited, one of India’s manufacturers of large-diameter carbon steel line pipes and coating systems for the oil & gas sector, announced its audited financial results for the quarter ended June 30, 2026.
Key Highlights — Q1 FY27
• Robust Q1 Performance: Standalone revenue grew 41.6% YoY to ₹1,010 crore, EBITDA of ₹157 crore was up 95.1% YoY, with EBITDA margin expanding 450 bps YoY to 15.3%, while PAT more than doubled YoY (up 167.7%) to ₹78 crore, the highest-ever standalone quarterly PAT reported by the Company, with PAT margin expanding 370 bps YoY to 7.6%.
•The Company delivered its highest-ever consolidated quarterly EBITDA of ₹155 crore, up 92.6% YoY and 5.0% QoQ, driven by a strategically optimised product and geographic mix and continued deepening of its global order pipeline.
•Consolidated Revenue from operations grew 41.9% YoY to ₹1,053 crore, the strongest YoY revenue growth in five quarters while consolidated PAT more than doubled YoY to ₹61 crore, underscoring the operating momentum the Company carries into the rest of FY27.
•Consolidated Orderbook: Consolidated order book stands at ~₹3,600 crore across India and Saudi Arabia, with the majority executable over the next 6–12 months, providing strong revenue visibility heading into FY27. The combined bid pipeline stands at ~₹24,000 crore, providing a substantial opportunity for future order inflows.
•Merino Shelters Progress: Commencement Certificate has been received for ~20,00,000 sq. ft., along with RERA registration. The project launch is on track for mid-September 2026, with MAN’s share expected to generate ₹35–50 crore of cash flows in FY27.
•Jammu Greenfield Update: Construction of the Jammu greenfield stainless steel seamless pipe plant is on track with production expected by March 2027.
•Dammam Coating & Double Jointing Facility: Operations targeted to commence by March 2027, further strengthening MAN’s integrated manufacturing and value-added processing capabilities in Saudi Arabia.
•FY27 Revenue Guidance: On track to achieve our revenue guidance of ~₹5,000 crore for FY27 with an EBITDA margin of 13-15%.
Standalone Financial Performance (In ₹ Crore)
|
Particulars |
Q1FY27 |
Q1FY26 |
YoY (%) |
Q4FY26 |
QoQ (%) |
|
Revenue from Operations |
1,010 |
713 |
41.6% |
1,157 |
-12.7% |
|
Other Income |
18 |
35 |
-47.2% |
18 |
4.9% |
|
Total Income |
1,028 |
748 |
37.5% |
1,175 |
-12.4% |
|
EBITDA |
157 |
81 |
95.1% |
171 |
-8.2% |
|
EBITDA Margin (%) |
15.3% |
10.8% |
450 bps |
14.6% |
70 bps |
|
PBT |
104 |
39 |
168.0% |
95 |
10.3% |
|
PBT Margin (%) |
10.1% |
5.2% |
490 bps |
8.1% |
200 bps |
|
PAT |
78 |
29 |
167.7% |
70 |
11.0% |
|
PAT Margin (%) |
7.6% |
3.9% |
370 bps |
6.0% |
160 bps |
Consolidated Financial Performance (In ₹ Crore)
|
Particulars |
Q1FY27 |
Q1FY26 |
YoY (%) |
Q4FY26 |
QoQ (%) |
|
Revenue from Operations |
1,053 |
742 |
41.9% |
1,157 |
-9.0% |
|
Other Income |
12 |
31 |
-62.4% |
8 |
44.1% |
|
Total Income |
1,065 |
774 |
37.7% |
1,166 |
-8.6% |
|
EBITDA |
155 |
81 |
92.6% |
148 |
5.0% |
|
EBITDA Margin (%) |
14.6% |
10.4% |
420 bps |
12.7% |
190 bps |
|
PBT |
85 |
38 |
123.4% |
73 |
17.1% |
|
PBT Margin (%) |
8.0% |
4.9% |
310 bps |
6.3% |
170 bps |
|
PAT |
61 |
28 |
122.5% |
51 |
20.8% |
|
PAT Margin (%) |
5.8% |
3.6% |
220 bps |
4.4% |
140 bps |
“Q1FY27 has been a landmark quarter for Man Industries. We are proud to have delivered our highest-ever consolidated quarterly EBITDA and highest-ever standalone quarterly PAT, a result that reflects the strength of our strategy: optimising our product portfolio toward high-value applications, deepening our international footprint
With a robust order book of ~₹3,600 crore, well balanced between India and Saudi Arabia, and the upcoming greenfield expansion in Dammam for the coating plant and stainless-steel plant in Jammu, we are building a more diversified and resilient platform for sustained growth. Having completed the acquisition of NPC, our teams have made strong progress on integration, and we expect the Saudi operations to ramp up meaningfully from Q2FY27 onwards, giving us confidence in a stronger and more complete contribution from this platform going forward. We enter FY27 at an inflection point. The foundations are in place, the order book is strong, and the runway ahead is significant.” Mr. Nikhil Mansukhani, Managing Director, Man Industries (India) Limited