Mumbai: Man Industries (India) Limited, a leading manufacturer of large-diameter carbon steel line pipes for the oil & gas sector, reported its strongest-ever quarterly performance in Q3 FY26, driven by robust execution, favourable product mix, and sustained demand across domestic and international markets. The Company recorded a 61% year-on-year increase in EBITDA to ₹136 crore, with EBITDA margins expanding sharply to 16.2%, the highest achieved to date. Profit After Tax rose 61% YoY to ₹55 crore. During the quarter, MAN Industries maintained a healthy net cash position of approximately ₹38 crore and an executable order book of around ₹4,000 crore, providing strong revenue visibility for the coming quarters.
The improved performance was supported by a favourable geographic and product mix, higher operating leverage, and continued focus on cost discipline and operational efficiency. The Company’s emphasis on value-added products and prudent capital allocation continued to translate into sustained margin expansion.
Financial Summary
Consolidated Financial Performance (Q3 & 9M FY26)
Key Business Highlights
1. Robust Profit Growth & Strong Balance Sheet
- Consolidated PAT for 9M FY26 grew by ~41% YoY, while cash profit increased by ~47% YoY.
- During Q3 FY26, PAT rose by ~61% YoY and ~49% QoQ, reflecting strong operating leverage and margin expansion.
- The Company maintained a net cash position of ~₹38 crore as of December 31, 2025.
2. Record Order Book
- Executable order book stands at ~₹4,000 crore, providing strong revenue visibility over the next 6–12 months and supporting continued growth momentum.
3. Strategic Expansions – Saudi Arabia & Jammu
- Capacity expansion projects in Saudi Arabia and Jammu are progressing as per schedule.
The Saudi facility is expected to commence commercial production by Q1 FY27, while the Jammu facility is on track for commissioning by Q2 FY27.
