Man Industries (India) Limited — PPTs, 21-01-2025: Investor Presentation

**Financial Highlights:** Man Industries (India) Ltd. reported total income of ₹15,857 Mn for H1-FY25, up 4.2% year-over-year. The company’s EBITDA was ₹1,323 Mn, with a margin of 8.51%. For Q2-FY25, total income decreased by 21% to ₹8,138 Mn compared to the previous year, driven by lower revenue from operations of ₹8,050 Mn, a 20.1% decline. PAT for Q2-FY25 stood at ₹351 Mn, down 19.4%.

**Strategic Initiatives and Growth Drivers:** The company plans to expand capacity by establishing a new plant in Dammam, Saudi Arabia, capable of producing 300,000 MT of H-SAW pipes at an estimated cost of ₹600 Cr. Additionally, it aims to diversify by manufacturing stainless steel pipes, expected to be operational by September 2025.

**Business Developments:** Man Industries secured a prestigious order worth approximately $220 million for API 5L grade line pipes from a leading international oil and gas firm for an offshore LNG project. Also, the company has an unexecuted order book of around ₹3,100 Cr, scheduled for execution within 12 months.

**Market Position and Competitive Advantage:** With three advanced manufacturing facilities and established relationships with major oil and gas firms, Man Industries is strategically positioned to meet increasing industry demand, especially in the growing markets of Saudi Arabia and beyond.

**Investor Implications:** The positive outlook and diversification strategy may present growth opportunities for investors, albeit amidst sectoral challenges such as fluctuating steel prices and diminishing margins. Investors should monitor the execution of the new projects closely.