MAN Industries Stock On Record-high After Rs 1,850 Cr Order
MAN Industries will supply high value-added SAW-pipes for this project, which command higher realisation and offer strong EBITDA margins
The stocks of MAN Industries touched record-high of Rs 513 in the Monday trading session after the firm received an order worth Rs 1,850 crore from an international entity.
Man Industries stocks traded at Rs 488 with 5.35 per cent gain in the morning session on the National Stock Exchange (NSE).
“The company has received a prestigious line pipe order of approximately Rs 1,850 crore which is the largest single order in the Company’s history. One of the most reputable oil and gas international company awarded Man Industries to supply high value-added line pipes of API- 5L Grade for this mega offshore project,” stated MAN Industries in an exchange filing.
This order worth Rs 1,850 crore is expected to be delivered during the next 12 to 18 months.
Furthermore, MAN Industries will supply high value-added SAW-pipes for this project, which command higher realisation and offer strong EBITDA margins.
With this order, MAN Industries' order book will surpass Rs 4,000 crore, with exports contributing nearly Rs 3,650 crore.
Additionally, the company is actively bidding for approximately USD 1.5 billion worth of line pipe projects for upcoming domestic and international ventures.
The orders are for multiple grades of steel pipes from both overseas and domestic projects of oil and gas and water transport projects.
