Man Industries

Mumbai, India Founded: 1988 • Age: 38 yrs Listed
Manufacturing and supply of steel line pipes

About Man Industries

Man Industries is a publicly listed company based in Mumbai (India) founded in 1988 by Ramesh Mansukhani. Manufacturing and supply of steel line pipes. The company has 86 employees. Its website mangroup.com draws about 23 thousand monthly visits. Its Indian entity Man Industries (India) Limited reported revenue of β‚Ή3,592 Cr. Man Industries offers products and services including LSAW Pipes, HSAW Pipes, Coating Services, ERW Pipes, and HIB Pipes. Its focus areas include Energy, Oil & Gas Midstream, Transportation and Pipelines.

Company details

Man Industries, based in Mumbai, focuses on working in the energy sector, oil gas midstream, providing transportation services, pipelines, technology providers, and pipeline manufacturers. Manufacturing and supply of steel line pipes. The company prioritizes operational excellence, innovation, and customer-centric approaches for success.

  • Headquarters Mumbai, India
  • Employees 86
  • Founders Ramesh Mansukhani
  • Stage Public
  • Sectors
    Energy & Utilities
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Phone
    β€’β€’β€’β€’ β€’β€’β€’β€’
  • Website mangroup.com
  • Social LinkedIn X YouTube
  • Legal Name Man Industries (India) Limited
Key Metrics
  • Market Cap
    ₹5,443 Cr

    MANINDS · NSE

  • Share Price
    ₹725.50

    -0.03% today

  • Revenue
    ₹3,564 Cr

    FY 2025-26 · +1.7% YoY

  • EBITDA
    ₹439 Cr

    Margin 12.3%

  • Net Profit
    ₹170 Cr

    FY 2025-26 · +13.1% YoY

  • P/E (TTM)
    26.6x

    P/B 2.6x

  • Employee Count
    86

Products & Services of Man Industries

Man Industries offers a comprehensive portfolio of products and services, including LSAW Pipes, HSAW Pipes, Coating Services, ERW Pipes, and HIB Pipes.

LSAW Pipes
Pipe Manufacturing

Longitudinal Submerged Arc Welded pipes for global pipeline demands.

HSAW Pipes
Pipe Manufacturing

Helical Submerged Arc Welded pipes for industrial applications.

Coating Services
Pipe Protection

Corrosion protection coatings to extend pipe operational life.

ERW Pipes
Pipe Manufacturing

High Frequency welded pipes for various global specifications.

HIB Pipes
Pipe Manufacturing

Hot Induction Bend pipes for pipeline and drilling needs.

Apps and channels of Man Industries

its YouTube channel Man Industries India LTD has 58 subscribers.

Man Industries India LTD
YouTube 58 subscribers Other
Open channel

Funding Insights of Man Industries

  • Total Rounds 1

All 1 funding rounds of Man Industries with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Jun 2004Debt – Conventional––
–

Board of directors of Man Industries (India) Limited (Man Industries)

Man Industries (India) Limited is the primary company behind Man Industries. The board of Man Industries (India) Limited currently have 6 directors; the longest-serving is Rameshchandra Mansukhani, appointed in 2008. 24 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Rameshchandra Mansukhani
DIN 00012033
Whole-time director26 Sep 200818 yrs 1 moMan Industries (India) Limited
Nikhil Rameshchandra Mansukhani
DIN 02257522
Managing Director23 Nov 201114 yrs 11 moMan Industries (India) Limited
Renu Purshottam Jalan
DIN 08076758
Director08 Mar 20188 yrs 7 moMan Industries (India) Limited
Narendra Mairpady
DIN 00536905
Director23 Feb 20215 yrs 8 moMan Industries (India) Limited
Rabi Narayan Bastia
DIN 05233577
Director05 Feb 20242 yrs 8 moMan Industries (India) Limited
Esha Padmanabhan Achan
DIN 10350369
Director13 Nov 202511 moMan Industries (India) Limited

People of Man Industries

1 people are tracked at Man Industries (1 in leadership); the tracked headcount is 86.

NameRoleGroup
Ramesh Mansukhani
FounderLeadership
Premium access

Complete people profiles for Man Industries

Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.

  • Full employee list
  • Team structure
  • Board tenure
  • Professional contacts

Verified entity values are shown only after access is granted.

IPO & Listings of Man Industries

Man Industries is a publicly listed company on the NSE with ticker symbol MANINDS in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date24 Jun 2005
  • Listed onNSE: MANINDS
  • Listed entityMan Industries (India) Limited
  • Exchange sectorProducer manufacturing
  • ISININE993A01026
  • Share price₹899.05 (+0.95% on the day) · 2026-10-14
  • Market capitalisation₹6,677 Cr
  • Price to earnings33.3
  • EPS (diluted, trailing year)₹26.99
  • Volume (last session)402,580

Financials of Man Industries

Exchange-reported figures of Man Industries (India) Limited, the listed company behind Man Industries (NSE: MANINDS).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹3,564 Cr
+1.7% YoY
EBITDA
₹439 Cr
+45.8% YoY
Profit After Tax
₹170 Cr
+13.1% YoY
Net Worth
₹2,087 Cr
+29.8% YoY
Total Assets
₹2,724 Cr
+30.3% YoY
Total Debt
₹628 Cr
+31.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3,5643,5053,1422,2312,1392,0801,759
Revenue growth+1.7%+11.6%+40.8%+4.3%+2.8%+18.2%-
EBITDA439301241137181205165
EBITDA margin+12.3%+8.6%+7.7%+6.1%+8.4%+9.9%+9.4%
Profit before tax23720814489.4613513765.27
Net profit17015110258.4210110057.16
Net profit margin+4.8%+4.3%+3.3%+2.6%+4.7%+4.8%+3.3%
EPS (β‚Ή)23.6523.6616.2411.1517.1717.669.72
Balance sheet
Total assets2,7242,0911,7351,4391,0041,1361,045
Net worth2,0871,6071,4051,132942835746
Total debt62847632630156.95296294
Cash & bank657379255170240102222
Net working capital1,1921,064717760426583423
Cash flow
Cash from operations47273.09345(120)451(59.89)214
Cash from investing(594)(111)(279)(135)(119)4.26(46.34)
Cash from financing13624.5286.03211(267)(63.10)(36.86)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,0531,1578308347421,218732806
Revenue growth (YoY)+41.9%-5.0%+13.5%+3.5%-0.9%---
Other income11.838.218.34(19.29)31.4915.465.5410.73
EBITDA14314012812149.1212178.7363.73
EBITDA margin+13.6%+12.1%+15.4%+14.5%+6.6%+9.9%+10.8%+7.9%
Depreciation29.8422.6821.4922.1712.5810.5311.2410.77
Interest39.9652.2738.1930.2129.7734.9426.1720.88
Profit before tax85.4572.9776.2949.4338.2691.1946.8642.81
Tax24.0222.1221.2512.4510.6423.0412.7410.95
Net profit61.4350.8555.0436.9827.6268.1534.1231.86
EPS (β‚Ή)8.067.007.514.684.138.825.164.74
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3,4553,1183,0802,0922,0942,0751,759
Revenue growth+10.8%+1.2%+47.2%-0.1%+0.9%+18.0%-
EBITDA440242230136180205164
EBITDA margin+12.7%+7.8%+7.5%+6.5%+8.6%+9.9%+9.3%
Profit before tax26318614989.6513513663.73
Net profit19613510758.6310099.8055.60
Net profit margin+5.7%+4.3%+3.5%+2.8%+4.8%+4.8%+3.2%
EPS (β‚Ή)26.7221.1816.9511.1917.1117.629.45
Balance sheet
Total assets2,4651,7961,6051,3121,0101,1421,051
Net worth1,9221,4191,2781,003940833745
Total debt53537132330364.42303301
Cash & bank490288227162237102222
Net working capital916744542541415563402
Cash flow
Cash from operations29378.33309(112)438(59.78)213
Cash from investing(540)(18.93)(260)(126)(109)4.23(46.32)
Cash from financing183(76.54)83.17187(267)(63.37)(35.99)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,0101,157804782713850731805
Revenue growth (YoY)+41.6%+36.0%+10.0%-2.9%-2.6%---
Other income18.4717.6013.47(12.84)35.0037.2214.668.78
Total expenses8711,003677670667786659736
EBITDA13915412711245.6564.3872.1768.86
EBITDA margin+13.7%+13.3%+15.8%+14.3%+6.4%+7.6%+9.9%+8.6%
Depreciation20.8621.5720.4921.4612.0310.0110.6710.43
Interest32.0755.0837.8130.0729.6534.7325.9020.94
Profit before tax10494.6781.7347.7238.9756.8650.2646.27
Tax26.4524.4620.8312.129.8416.5312.6511.21

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 02 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,0531,1578308347421,218732806
Revenue growth (YoY)+41.9%-5.0%+13.5%+3.5%-0.9%---
Other income11.838.218.34(19.29)31.4915.465.5410.73
EBITDA14314012812149.1212178.7363.73
EBITDA margin+13.6%+12.1%+15.4%+14.5%+6.6%+9.9%+10.8%+7.9%
Depreciation29.8422.6821.4922.1712.5810.5311.2410.77
Interest39.9652.2738.1930.2129.7734.9426.1720.88
Profit before tax85.4572.9776.2949.4338.2691.1946.8642.81
Tax24.0222.1221.2512.4510.6423.0412.7410.95
Net profit61.4350.8555.0436.9827.6268.1534.1231.86
EPS (β‚Ή)8.067.007.514.684.138.825.164.74
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3,5643,5053,1422,2312,1392,0801,759
Revenue growth+1.7%+11.6%+40.8%+4.3%+2.8%+18.2%-
Other income28.5951.8252.0539.0337.0830.7916.55
Total expenses3,1253,2042,9012,0941,9581,8751,594
Employee cost0.0077.0668.8159.9454.1254.8955.92
EBITDA439301241137181205165
EBITDA margin+12.3%+8.6%+7.7%+6.1%+8.4%+9.9%+9.4%
Depreciation78.9245.2561.0945.5045.4046.3852.32
Interest15299.6387.8341.0337.3052.8064.42
Profit before tax23720814489.4613513765.27
Tax66.4655.1839.1622.4133.3935.859.75
Net profit17015110258.4210110057.16
Net profit margin+4.8%+4.3%+3.3%+2.6%+4.7%+4.8%+3.3%
EPS (β‚Ή)23.6523.6616.2411.1517.1717.669.72
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital37.5032.3732.3730.0529.5928.5528.55
Reserves & surplus2,0391,5631,3611,102911806718
Shareholders' funds (net worth)2,0871,6071,4051,132942835746
Minority interest0.000.000.000.000.000.000.00
Secured loans29937928829449.36284278
Unsecured loans32997.1737.797.057.5911.7015.34
Total debt62847632630156.95296294
Total liabilities2,7242,0911,7351,4391,0041,1361,045
Assets
Gross block1,3751,075995892620593578
Net block864643605553318337368
Capital work in progress32613330.5414.4519.881.013.56
Investments70.7725.952280.32102103102
Inventories1,5351,269646407318332380
Sundry debtors1,010896355494544656450
Cash & bank balances657379255170240102222
Loans & advances26018111686.02116118127
Total current assets3,4622,7251,3721,1571,2191,2081,178
Total current liabilities2,2711,661654397793624755
Net working capital1,1921,064717760426583423
Total assets2,7242,0911,7351,4391,0041,1361,045
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash17518936.9782.0717.291364.92
Net cash from operating activities47273.09345(120)451(59.89)214
Net cash from investing activities(594)(111)(279)(135)(119)4.26(46.34)
Net cash from financing activities13624.5286.03211(267)(63.10)(36.86)
Net change in cash14.29(13.69)152(45.10)64.65(119)131
Closing cash657379255170240102222
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+1.7%+11.6%+40.8%+4.3%+2.8%+18.2%-
EBITDA growth+45.8%+25.0%+76.1%-24.2%-12.0%+24.0%-
PBT growth+13.7%+44.4%+61.3%-33.7%-1.3%+109.4%-26.2%
Net income growth+13.1%+47.3%+75.2%-42.0%+0.6%+75.0%-
Revenue CAGR (3Y)+16.9%+17.9%+14.7%+8.3%-1.3%+9.0%+18.4%
EBITDA CAGR (3Y)+47.5%+18.6%+5.6%-6.1%+0.5%+19.3%+50.7%
Profitability & leverage
Net income margin+4.8%+4.4%+3.4%+3.0%+4.8%+4.9%+3.2%
Return on capital employed-+16.1%+14.6%+9.7%+16.1%+17.4%+13.0%
Return on net worth-+10.2%+8.3%+5.6%+11.4%+12.8%+7.7%
Debt / equity-0.270.250.170.200.370.37
Long-term debt / equity-0.100.110.070.010.020.05
Interest cover42.1938.9048.7744.8627.5933.2756.94
Efficiency & per share
Fixed asset turnover-3.383.332.953.533.553.10
Inventory turnover-3.665.976.156.585.855.90
Debtors turnover-5.607.404.303.563.763.50
EPS (β‚Ή)23.6523.6616.2411.1517.1717.669.72
Dividend per share (β‚Ή)0.000.002.002.000.002.001.00
Book value per share (β‚Ή)0.00246.51215.25188.39158.95146.21130.70
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,0101,157804782713850731805
Revenue growth (YoY)+41.6%+36.0%+10.0%-2.9%-2.6%---
Other income18.4717.6013.47(12.84)35.0037.2214.668.78
Total expenses8711,003677670667786659736
EBITDA13915412711245.6564.3872.1768.86
EBITDA margin+13.7%+13.3%+15.8%+14.3%+6.4%+7.6%+9.9%+8.6%
Depreciation20.8621.5720.4921.4612.0310.0110.6710.43
Interest32.0755.0837.8130.0729.6534.7325.9020.94
Profit before tax10494.6781.7347.7238.9756.8650.2646.27
Tax26.4524.4620.8312.129.8416.5312.6511.21
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3,4553,1183,0802,0922,0942,0751,759
Revenue growth+10.8%+1.2%+47.2%-0.1%+0.9%+18.0%-
Other income53.0786.0366.2140.1837.1830.7916.51
Total expenses3,0162,8762,8501,9571,9141,8701,595
Employee cost0.0072.7367.2257.9853.1154.1253.96
EBITDA440242230136180205164
EBITDA margin+12.7%+7.8%+7.5%+6.5%+8.6%+9.9%+9.3%
Depreciation75.5443.2760.4845.1445.2246.3752.31
Interest15499.1287.0641.0237.3052.8064.42
Profit before tax26318614989.6513513663.73
Tax67.2348.3838.8322.3833.3935.859.75
Net profit19613510758.6310099.8055.60
Net profit margin+5.7%+4.3%+3.5%+2.8%+4.8%+4.8%+3.2%
EPS (β‚Ή)26.7221.1816.9511.1917.1117.629.45
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital37.5032.3732.3730.0529.5928.5528.55
Reserves & surplus1,8751,3751,234973909804716
Shareholders' funds (net worth)1,9221,4191,2781,003940833745
Secured loans23527428829449.36284278
Unsecured loans30097.5434.699.6915.0619.0122.93
Total debt53537132330364.42303301
Total liabilities2,4651,7961,6051,3121,0101,1421,051
Assets
Gross block1,189929892821614593578
Net block683499504483313337368
Capital work in progress26.4293.7730.593.0815.801.013.56
Investments271216368136133133133
Inventories1,212932352107305332380
Sundry debtors953886342485540635427
Cash & bank balances490288227162237102222
Loans & advances313286273178121118127
Total current assets2,9682,3921,1949321,2041,1871,155
Total current liabilities2,0521,649651391789624753
Net working capital916744542541415563402
Total assets2,4651,7961,6051,3121,0101,1421,051
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash14316128.4179.1517.001364.89
Net cash from operating activities29378.33309(112)438(59.78)213
Net cash from investing activities(540)(18.93)(260)(126)(109)4.23(46.32)
Net cash from financing activities183(76.54)83.17187(267)(63.37)(35.99)
Net change in cash(64.65)(17.13)132(50.74)62.15(119)131
Closing cash490288227162237102222
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+10.8%+1.2%+47.2%-0.1%+0.9%+18.0%-
EBITDA growth+81.8%+5.2%+69.5%-24.6%-12.2%+25.0%-
PBT growth+41.8%+24.9%+65.7%-33.4%-1.4%+114.2%-26.7%
Net income growth+45.4%+25.4%+83.2%-41.5%+0.5%+79.5%-
Revenue CAGR (3Y)+18.2%+14.2%+14.1%+6.0%-1.9%+9.7%+18.4%
EBITDA CAGR (3Y)+48.0%+10.4%+3.9%-6.1%+0.6%+19.8%+53.2%
Profitability & leverage
Net income margin+5.7%+4.4%+3.6%+3.2%+4.8%+4.9%+3.1%
Return on capital employed-+16.7%+16.2%+10.3%+16.0%+17.3%+12.8%
Return on net worth-+10.2%+9.6%+6.0%+11.4%+12.8%+7.5%
Debt / equity-0.260.270.190.210.380.38
Long-term debt / equity-0.110.120.070.010.020.05
Interest cover42.3449.9151.3945.3327.6833.3157.70
Efficiency & per share
Fixed asset turnover-3.423.602.923.473.553.10
Inventory turnover-4.8613.4210.146.575.845.90
Debtors turnover-5.087.454.083.563.913.67
EPS (β‚Ή)26.7221.1816.9511.1917.1117.629.45
Dividend per share (β‚Ή)0.000.002.002.000.002.001.00
Book value per share (β‚Ή)0.00217.40195.65166.85158.61145.87130.39

Timeline of Man Industries

3 dated milestones of Man Industries across 17 years, from founding to its latest funding, stage changes and deals.

  1. Founded Man Industries is founded.
  2. Funding First funding round.
  3. IPO Lists on the stock exchange (IPO).

Web traffic of Man Industries

The website of Man Industries (mangroup.com) receives about 22.6K visits a month.

  • Monthly visits
    22.6K

    ▲ 168.8% vs previous month

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β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
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Frequently Asked Questions about Man Industries

Man Industries was founded in 1988 and raised its 1st funding round 16 years after it was founded.

Man Industries is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Man Industries has 86 employees.

The primary company behind Man Industries, Man Industries (India) Limited, reported revenue of β‚Ή3,592 Cr for FY 2026, up 2% year on year.

Man Industries, based in Mumbai, focuses on working in the energy sector, oil gas midstream, providing transportation services, pipelines, technology providers, and pipeline manufacturers. Manufacturing and supply of steel line pipes. The company prioritizes operational excellence, innovation, and customer-centric approaches for success.

Man Industries offers LSAW Pipes, HSAW Pipes, Coating Services, ERW Pipes, and HIB Pipes.

Yes, Man Industries is publicly traded on NSE under the ticker symbol MANINDS.

Man Industries operates through Man Industries (India) Limited.

The legal entities of Man Industries currently have 8 directors, including Rameshchandra Mansukhani, Renu Purshottam Jalan, Nikhil Rameshchandra Mansukhani and others.

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