Man Industries (India) Limited — PPTs, 26-05-2026: Investor Presentation

Here is the financial summary:

**1. Business Performance:** Man Industries reported robust Q4 FY26 standalone results: Revenue up 36% YoY to 1,157 Cr, EBITDA soared 69% to 171 Cr (14.6% margins). PAT jumped 74% to 70 Cr. For FY26, standalone EBITDA & PAT margins hit record highs (14.0% & 5.6%). Core pipe business grew ~36% YoY consolidated. Note: Higher 'Other Expenses' are a gross-up from shifting to DDP model (more revenue + logistics costs, stable margins). Consolidated profit saw a temporary non-cash forex loss on new plant machinery imports, expected to reverse.

**2. Growth Drivers or Strategy:** Strategic moves include acquiring Saudi Arabia's NPC for ~1,000 Cr and a 5-year MoU with Aramco Asia India. Capacity expanded with a new Spiral Mill & PU Coating facility (+50,000 TPA).

**3. Recent Developments:** Jammu greenfield stainless steel pipe plant on track for Dec 2026 completion, production by Mar 2027. Merino Shelters project launching June 2026. Approved as a certified vendor for Qatar Energy LNG.

**4. Key Financial Metrics:** Strong standalone order book of ~3,000 Cr offers 6-12 months revenue visibility. FY27 consolidated revenue guidance: 5,000-5,500 Cr (13-15% EBITDA margin). Company is net cash positive (157.5 Cr) with 657.2 Cr cash, generating 132 Cr free cash flow.

**5. Management Commentary / Outlook:** Management emphasized the DDP model strengthens customer ties and supply chain control. The forex loss is a temporary accounting effect, expected to reverse. Outlook is positive with upcoming project contributions and strong order book.