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MAN Industries India Ltd Q1FY19 EBITDA up 99.2%

Posted On: 2018-08-09 08:10:56

MAN Industries (India) Limited, one of the leading large Diameter Pipe manufacturing company has announced today its unaudited results for the quarter ended June. 30, 2018. In Q1 of FY 2018-19 company reported revenue from operations of Rs. 6,366 Million as compared toRs. 3,276 Million in the corresponding period of FY 2017-18.

The company has reported 149% increase in the net profit after tax from Rs.l01 Million in Q1FY18 to Rs.251 Million In Q1FY19.

During the quarter under review, company commissioned a new production line for 3 LP£ coating plant having capacity of 2.4 Million sq. meters per annum. This is in addition to the Concrete Wet Coating (CWC) Plant which was commissioned in the previous year.

Commenting on the robust financial performance of the Company, Mr. R. C. Mansukhani, Chairman said "During the quarter the company has posted magnificent performance on the back of strong order book position in domestic as well as export businesses. He further added that order pipeline and bid book continues to remain strong in the year 2019".

The company continues to have a robust book of outstanding bids for more than Rs. 1,20,000 Million at various stages of evaluation for several Oil, Gas and Water projects in India and abroad. The company therefore expects good order inflow in near future.

The unexecuted order book as on date is approximately Rs. 15,000 Million to be executed by March 2019.

Shares of MAN INDUSTRIES (INDIA) LTD. was last trading in BSE at Rs.123.6 as compared to the previous close of Rs. 120.5. The total number of shares traded during the day was 59677 in over 543 trades.

The stock hit an intraday high of Rs. 124.5 and intraday low of 121.5. The net turnover during the day was Rs. 7344999.


Source: Equity Bulls

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