Man Industries (India) Limited share price

Man Industries (India) Limited manufactures, processes, sells, and trades in submerged arc-welded steel pipes and products in India and internationally. The company offers longitudinal submerged arc-welded (LSAW), helically submerged arc-welded (HSAW) line pipes, external coatings and internal linings, electro resistance-welded (ERW) pipes, and hot induction bends (HIB) pipes. It serves oil and gas, petrochemicals, water transmission, dredging, fertilizers, hydrocarbons and the city gas distribution (CGD) sectors. The company exports its products. Man Industries (India) Limited was incorporated in 1988 and is based in Mumbai, India.Read more

Website NSE BSE

Basic MaterialsSteelNSE: MANINDSISIN INE993A01026

16 Oct 2026, 3:30 PM IST₹865.35▲ 19.55 (2.31%)

Market Cap₹ 6,491 Cr.
Current Price₹ 865.35
High / Low₹ 1,040 / 302
Stock P/E31.8
Book Value₹ 287
Dividend Yield0.00 %
ROCE13.7 %
ROE9.20 %
Face Value₹ 5.0

More figures (10)

EPS (TTM)₹ 27.25
Price / Book3.01
OPM12.4 %
Debt / Equity0.30
Sales growth (5Y)11.4 %
Profit growth (5Y)11.1 %
Promoter holding57.3 %
EV / EBITDA12.8
Beta0.50
All-time high₹ 1,040

Price chart

Price on NSE 50 DMA 200 DMA Volume

Returns	1M	3M	6M	YTD	1Y	3Y CAGR	5Y CAGR
MANINDS	+9.50%	+59.28%	+70.31%	+123.86%	+112.90%	+56.31%	+50.74%
Nifty 50	-0.31%	-3.85%	-4.34%	-11.42%	-9.53%	+5.46%	+4.76%

Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.

Quick take

Man Industries (India) Limited is in the Steel industry (Basic Materials), with a market value of ₹6,491 crore.
It trades at 31.8 times its last 12 months' earnings and 3.0 times book value.
Revenue grew 11.4% a year over the last 5 years, profit 11.1% a year.
Return on equity was 9.2% and return on capital employed 13.7% in the latest year.
Debt was 0.30 times shareholders' equity.
The share price is 16.8% below its 52-week high and up 112.9% over one year.
Promoters and insiders hold about 57.3%; institutions about 0.9%.

Pros

Latest quarter (Jun 2026): sales up 42% and profit up 123% from a year ago.
Borrowings are moderate at 0.30 times shareholders' equity.

Cons

Return on equity has been low: 9.2% on average over the last 3 years.
Promoter holding has fallen by 6.41 points over 3 years, to 43.21%.
Trades at 31.8 times earnings, above its 3-year median of 19.8.
The company has not paid a dividend recently.

Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.

AI analysis

Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.

About Man Industries (India) Limited

Employees: 825
Head office: Mumbai

Basic MaterialsSteel

S.No.	Company	CMP ₹	P/E	Mar Cap ₹ Cr	Div Yld %	NP Qtr ₹ Cr	Qtr Profit Var %	Sales Qtr ₹ Cr	Qtr Sales Var %	ROCE %	ROE %	P/B	OPM %	Debt / Eq	Prom. Hold. %	Sales ₹ Cr	Sales Var 3Yrs %
1.	Man Industries (India)	865.35	31.8	6,491	0.00	61	122.56	1,053	41.91	13.7	9.2	3.01	12.4	0.30	57.30	3,564	11.4
2.	JSW Steel	1,216.30	12.1	2,96,896	0.59	4,651	209.45	46,662	5.23	18.7	24.9	2.97	12.8	1.19	63.60	1,82,037	3.6
3.	Tata Steel	175.50	19.8	2,18,924	2.27	2,318	11.58	60,412	14.54	11.3	11.2	2.14	9.7	0.90	35.40	2,30,293	-1.6
4.	Jindal Steel	1,045.20	39.1	1,06,348	0.19	845	—	15,553	16.99	7.5	6.9	2.09	13.8	0.44	63.86	43,561	-13.1
5.	Usha Martin	491.30	28.1	14,955	0.78	142	40.90	1,033	16.44	18.7	15.4	4.53	16.5	0.07	40.17	3,691	4.1
6.	Vedanta Iron and Steel	29.35	—	11,477	0.00	121	—	3,662	—	11.8	54.9	—	2.2	-2.44	58.39	13,341	-2.7
7.	Vraj Iron and Steel	124.78	11.5	412	0.00	12	51.65	194	40.14	9.5	7.7	0.96	5.9	0.10	78.62	588	4.5
8.	Bedmutha Industries	111.10	21.4	358	0.00	7	—	541	74.32	9.1	4.4	2.36	2.4	0.48	80.00	1,467	28.5
	Median: 8 Co.	333.40	21.4	13,216	0.10	132	51.65	2,358	16.99	11.6	10.2	2.36	11.1	0.37	61.00	8,516	3.9

Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.

Quarterly Results

Consolidated figures in ₹ crore /

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	490	1,018	833	811	749	806	732	1,218	742	834	830	1,157	1,053
YOY Sales Growth %	-3.93%	118.89%	26.58%	35.64%	52.67%	-20.80%	-12.13%	50.30%	-0.88%	3.46%	13.45%	-5.02%	41.91%
	444	948	768	752	711	743	653	1,097	693	713	703	1,018	910
Material Cost %	67%	80%	76%	79%	83%	76%	71%	80%	80%	72%	60%	47%	65%
Employee Cost %	3%	2%	2%	2%	3%	2%	2%	2%	3%	2%	3%	3%	3%
Other Expenses %	20%	12%	14%	12%	9%	13%	16%	8%	11%	11%	22%	39%	18%
Operating Profit	47	70	65	58	38	64	79	121	49	121	128	140	143
OPM %	10%	7%	8%	7%	5%	8%	11%	10%	7%	15%	15%	12%	14%
Other Income	4	21	14	14	20	11	6	15	31	-19	8	8	12
Interest	21	22	20	25	18	21	26	35	30	30	38	52	40
Depreciation	15	15	16	15	13	11	11	11	13	22	21	23	30
Profit before tax	14	54	43	32	28	43	47	91	38	49	76	73	85
	22%	28%	29%	26%	31%	26%	27%	25%	28%	25%	28%	30%	28%
Current tax	4	14	12	7	7	11	12	24	9	11	20	29	29
Deferred tax	-1	1	0	1	2	-0	1	-1	2	2	1	-6	-5
	11	39	31	24	19	32	34	68	28	37	55	51	61
Profit to shareholders						32	34	68				51	61
YOY Profit Growth %	13.92%		-17.74%	-7.37%	69.94%	-18.39%	11.50%	182.39%	44.93%	16.07%	61.31%	-25.37%	122.56%
EPS in Rs	1.90	6.68	5.09	4.00	2.94	4.92	5.36	9.15	4.13	4.83	7.64	7.00	8.19
Raw filing

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	464	1,008	830	778	732	805	731	850	713	782	804	1,157	1,010
YOY Sales Growth %	-6.29%	134.62%	35.50%	40.20%	57.68%	-20.10%	-11.98%	9.30%	-2.57%	-2.90%	9.95%	36.04%	41.62%
	417	936	766	732	695	736	659	786	667	670	677	1,003	871
Material Cost %	66%	80%	76%	80%	83%	76%	72%	79%	80%	71%	59%	47%	66%
Employee Cost %	3%	2%	2%	2%	3%	2%	2%	2%	3%	2%	3%	2%	2%
Other Expenses %	21%	12%	15%	12%	9%	13%	16%	12%	11%	13%	22%	37%	18%
Operating Profit	47	72	65	46	36	69	72	64	46	112	127	154	139
OPM %	10%	7%	8%	6%	5%	9%	10%	8%	6%	14%	16%	13%	14%
Other Income	4	23	21	18	25	9	15	37	35	-13	13	18	18
Interest	21	22	20	24	18	21	26	35	30	30	38	55	32
Depreciation	15	15	15	15	12	10	11	10	12	21	20	22	21
Profit before tax	15	58	50	25	32	46	50	57	39	48	82	95	104
	21%	26%	25%	32%	25%	24%	25%	29%	25%	25%	25%	26%	25%
Current tax	4	14	12	7	7	11	12	16	9	11	20	27	29
Deferred tax	-1	1	0	1	1	0	1	1	1	2	1	-3	-3
	12	43	37	17	24	35	38	40	29	36	61	70	78
YOY Profit Growth %	13.14%		2.23%	-35.90%	103.20%	-19.35%	1.24%	133.74%	20.67%	1.57%	61.90%	74.11%	167.58%
EPS in Rs	1.98	7.23	6.18	2.86	3.73	5.42	5.72	6.32	4.36	4.62	8.45	9.74	10.39
Raw filing

Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.

Profit & Loss

Consolidated figures in ₹ crore /

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,608	2,222	1,759	2,080	2,139	2,231	3,142	3,505	3,564	3,875
YOY Sales Growth %		38.21%	-20.81%	18.24%	2.81%	4.34%	40.82%	11.56%	1.67%
	1,483	2,043	1,591	1,875	1,958	2,094	2,901	3,204	3,125	3,343
Material Cost %	75%	76%	72%	68%	74%	79%	76%	78%	63%	60%
Employee Cost %	3%	3%	3%	3%	3%	3%	2%	2%	3%	3%
Other Expenses %	14%	13%	15%	20%	15%	12%	14%	11%	23%	24%
Operating Profit	125	179	168	205	181	137	241	301	439	532
OPM %	8%	8%	10%	10%	8%	6%	8%	9%	12%	14%
	57	21	17	31	37	40	52	52	29	9
Exceptional items	-4		-3
Interest	43	65	64	53	37	41	88	100	152	161
Depreciation	39	46	52	46	45	45	61	45	79	96
Profit before tax	95	88	65	137	135	90	144	208	237	284
	33%	33%	15%	26%	25%	25%	27%	26%	28%	28%
Current tax	34	27	23	37	36	21	37	53	68
Deferred tax	-2	3	-13	-1	-3	2	2	2	-2
	64	59	56	101	102	68	105	153	170	204
Profit to shareholders						68		153	170
YOY Profit Growth %		-7.37%	-5.68%	81.71%	0.72%	-33.06%	54.62%	45.68%	11.30%
EPS in Rs	11.12	10.30	9.72	17.66	17.78	11.33	17.42	23.66	23.65	27.66
Dividend Payout %						17%

Compounded Sales Growth

5 Years:: 11%
3 Years:: 17%
TTM:: 11%

Compounded Profit Growth

5 Years:: 11%
3 Years:: 36%
TTM:: 26%

Stock Price CAGR

5 Years:: 51%
3 Years:: 56%
1 Year:: 113%

Return on Equity

4 Years:: 8%
Last Year:: 9%

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,572	2,215	1,759	2,075	2,094	2,092	3,080	3,118	3,455	3,752
YOY Sales Growth %		40.89%	-20.60%	17.97%	0.91%	-0.08%	47.20%	1.24%	10.81%
	1,450	2,038	1,593	1,870	1,914	1,957	2,850	2,876	3,015	3,221
Material Cost %	75%	76%	72%	67%	74%	78%	76%	77%	62%	60%
Employee Cost %	3%	2%	3%	3%	3%	3%	2%	2%	2%	2%
Other Expenses %	15%	13%	16%	20%	15%	12%	14%	12%	23%	24%
Operating Profit	123	178	166	205	180	136	230	242	440	531
OPM %	8%	8%	9%	10%	9%	6%	7%	8%	13%	14%
	58	21	17	31	37	40	66	86	53	37
Exceptional items	-4		-3
Interest	43	65	64	53	37	41	87	99	154	155
Depreciation	39	46	52	46	45	45	60	43	76	84
Profit before tax	95	87	64	136	135	90	149	186	263	328
	34%	34%	15%	26%	25%	25%	26%	26%	26%	26%
Current tax	33	27	23	37	36	21	37	46	67
Deferred tax	-2	3	-13	-1	-3	2	1	3	1
	63	57	54	101	101	67	110	137	196	245
YOY Profit Growth %		-8.70%	-5.94%	86.42%	0.59%	-33.54%	63.13%	24.95%	42.85%
EPS in Rs	11.01	10.05	9.45	17.62	17.72	11.21	18.19	21.18	27.17	33.20
Dividend Payout %						18%	11%

Compounded Sales Growth

5 Years:: 11%
3 Years:: 18%
TTM:: 21%

Compounded Profit Growth

5 Years:: 14%
3 Years:: 43%
TTM:: 72%

Stock Price CAGR

5 Years:: 51%
3 Years:: 56%
1 Year:: 113%

Return on Equity

4 Years:: 8%
Last Year:: 9%

Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.

Balance Sheet

Consolidated figures in ₹ crore, as at 31 March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	30	32	32	38
Reserves	1,102	1,372	1,575	2,049
	301	326	476	628
Long term borrowings	130	136	138	240
Short term borrowings	166	172	317	259
	427	684	1,696	2,306
Trade payables	340	503	1,200	1,471
Current liabilities	567	830	1,983	2,597
Total Liabilities	1,860	2,415	3,779	5,021
	540	636	808	1,163
Gross block	879	1,025	1,241	1,676
Accumulated depreciation	339	390	433	513
Goodwill & intangibles	62	64	69	69
CWIP	51	96	236	369
	1,270	1,683	2,736	3,488
Inventories	407	646	1,269	1,535
Trade receivables	494	355	896	1,010
Cash & equivalents	37	159	175	189
Current assets	1,157	1,600	2,751	3,533
Total Assets	1,860	2,415	3,779	5,021

Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.

Cash Flows

Consolidated figures in ₹ crore, financial years ending March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-120	345	73	472
Profit for the year	67	105	153	170
Working capital changes	-277	111	-238	-42
Direct taxes paid	-27	-33	-53	-51
	-135	-279	-111	-594
Fixed assets purchased	-207	-117	-154	-340
Fixed assets sold		0
Investments purchased		-224	-92
Investments sold	67	61	205
	211	86	25	136
Proceeds from borrowings	333	13	147	87
Repayment of borrowings	-69		-1
Interest paid	-41	-85	-113	-135
Dividends paid	-12	-12
Net Cash Flow	-45	152	-14	14
Free Cash Flow	-328	228	-81	132

Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.

Ratios

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE	—	5.9%	8.3%	10.2%	9.2%
ROCE	—	8.9%	14.6%	15.5%	13.7%
Operating margin	—	4.4%	6.0%	7.5%	12.4%
Net margin	—	3.0%	3.4%	4.4%	4.9%
Debt / equity	—	0.27	0.23	0.30	0.30
Current ratio	—	2.04	1.93	1.39	1.36
Debtor days	—	81	42	94	105
Inventory days	—	78	92	162	235
Days payable	—	65	72	153	226
Cash conversion cycle	—	94	62	103	114
Working capital days	—	97	90	81	97

Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.

Shareholding Pattern

Numbers in percentages · as filed with NSE each quarter

Promoters 43.21%
FIIs 2.87%
DIIs 1.43%
Public 52.49%

%	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	49.62%	49.62%	46.15%	46.15%	46.15%	46.15%	46.21%	48.21%	43.21%	43.21%	43.21%	43.21%
	1.61%	2.14%	1.64%	1.84%	2.52%	2.16%	3.33%	2.19%	2.32%	3.35%	2.41%	2.87%
Foreign portfolio investors (Cat. I)	1.61%	2.14%	1.61%	1.81%	2.47%	2.13%	3.24%	2.15%	2.08%	2.94%	2.28%	2.03%
Foreign portfolio investors (Cat. II)			0.03%	0.03%	0.05%	0.03%	0.09%	0.04%	0.24%	0.41%	0.13%	0.84%
	0.05%	0.65%	3.32%	3.31%	3.28%	2.65%	1.03%	0.88%	1.69%	1.27%	1.34%	1.43%
Mutual funds			1.26%	1.26%	1.26%	0.42%
Insurance companies	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%
Alternative investment funds		0.60%	2.01%	2.01%	1.97%	2.18%	0.99%	0.84%	1.65%	1.23%	1.31%	1.40%
	48.73%	47.60%	48.90%	48.70%	48.05%	49.05%	49.43%	48.73%	52.78%	52.17%	53.04%	52.49%
Retail (up to ₹2 lakh)	23.03%	23.44%	23.38%	23.92%	25.19%	26.22%	25.60%	25.38%	20.41%	19.26%	18.80%	18.88%
HNIs (above ₹2 lakh)	13.12%	11.65%	12.07%	10.94%	9.97%	9.28%	9.70%	9.87%	14.65%	14.41%	15.20%	15.53%
NRIs	2.47%	2.87%	2.58%	2.65%	3.04%	3.15%	3.30%	3.01%	2.87%	3.10%	3.04%	2.89%
Bodies corporate	3.36%	2.84%	3.32%	3.66%	2.46%	2.83%	4.01%	3.81%	6.91%	7.40%	7.55%	6.90%
IEPF	0.95%	1.00%	0.92%	0.92%	0.92%	0.98%	0.98%	0.95%	0.85%	0.92%	0.91%	0.90%
No. of Shareholders	34,330	35,193	44,206	46,295	53,582	56,984	56,405	59,257	54,425	51,822	50,913	49,144

Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.

Mutual funds & institutions holding Man Industries (India)

Holder (above 1%)	Stake
Carnelian Structural Shift FundAIF	1.02%

As named in the shareholding pattern for Jun 2026 filed with NSE. Shareholders below 1% are not named in the filing.

Documents

Announcements

All announcements on NSE →

Annual reports

Credit ratings

Concalls & investor meets

Filings made by the company with NSE; documents open on NSE's website.

Key dates

Ex-dividend date: 14 Aug 2023
Latest quarter: 30 Jun 2026
Financial year end: 31 Mar 2026

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Latest news

In the news

From the company (NSE)

Headlines from news publishers (via Google News) and the filings of the company with NSE; they open on the source website. Headlines with price targets or buy/sell calls are left out. News is for information only and is not a recommendation.

Questions about Man Industries (India) Limited

What is the share price of Man Industries (India) Limited today?

Man Industries (India) Limited (MANINDS) last traded at ₹865.35 on NSE (16 Oct 2026, 3:30 PM IST). Prices may be delayed.

What is the market cap of Man Industries (India) Limited?

About ₹6,491 crore at the latest price.

What is the P/E ratio of Man Industries (India) Limited?

About 31.8 times its earnings over the last 12 months.

Is Man Industries (India) Limited a good investment?

We do not give views on individual shares. Whether any share suits you depends on your goals, time horizon and risk appetite; for long-term goals, a diversified mutual fund is often a simpler way to own shares. Investments in securities markets are subject to market risks.

How can I buy Man Industries (India) Limited shares?

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Important. Prices from NSE via Yahoo Finance. Quarterly and annual results, shareholding and documents are taken from the filings the company made with NSE; balance sheet, cash flow and valuation figures are compiled by Yahoo Finance; ratios are computed by us from them. Figures may be delayed or revised. This page is for information only: it is not research, a recommendation or an offer to buy or sell any security. Investments in securities markets are subject to market risks; read all related documents carefully before investing. Plenitude Connect Private Limited is an AMFI-registered Mutual Fund Distributor (ARN-130934); share broking is offered through Parshvanath Investments, Authorised Person of Master Capital Services Ltd (SEBI Reg. INZ000210539).

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