Man Industries Secures ₹1,850 Crore Order from International Oil and Gas Leader

On July 8, 2024, Man Industries (India) Limited informed in a stock exchange filing announced a significant milestone with the acquisition of a prestigious line pipe order valued at approximately ₹1,850 crore. This marks the largest single order in the company’s history, awarded by a leading international Oil and Gas firm. The project entails supplying high-value API5L Grade line pipes for a major offshore venture, with delivery scheduled over the next 12 to 18 months.

Furthermore, the company will supply high-value-added SAW pipes for this project, which will command higher realisation and offer strong EBITDA margins. This capability improves the company’s value proposition, reinforcing its competitive edge in delivering premium-quality solutions for critical Oil and Gas infrastructure projects globally.

The company stated that this substantial order contributes to Man Industries’ robust unexecuted order book, which currently stands at about ₹4,000 crore. This figure includes previously secured orders totalling ₹2,600 crore, expected to be fulfilled within the next 6 to 8 months. The company’s ability to secure and execute such sizable contracts underscores its strong technological expertise and operational capabilities, reinforcing customer trust and confidence.

The Managing Director of MAN Industries, Nikhil Mansukhani, said, “The start of the year is proving exceptionally strong for MAN Industries, highlighted by the multiple orders totalling approx. ₹4000 crores+. These are testimonials of our steadfast focus on delivering product excellence and timely deliveries. We expect this momentum to continue during the year, such projects are also a testament to the prowess of MAN Industries and our cutting-edge technological capabilities.”

Earlier in May 2024, the company announced additional new orders amounting to approximately ₹490 crore, further enhancing its order pipeline and business prospects. These developments highlight a favourable business environment and solidify Man Industries’ position as a preferred partner in the global Oil and Gas sector.

The company’s success in securing these significant contracts not only reflects its competitiveness in the market but also signifies its strategic expansion and commitment to delivering high-quality solutions. With a focus on technological advancements and efficient execution, Man Industries continues to strengthen its presence in the industry, poised for sustainable growth and profitability in the coming years.

About Man Industries (India) Ltd

Man Industries (India) Ltd is one of the foremost manufacturers and exporters of LSAW and HSAW pipes in India. The company boasts a substantial installed capacity of 1 million tonnes. With over 30 years of experience in the pipe industry, the company is a prominent leader in producing large-diameter pipes.

On July 8, 2024, the share price of Man Industries (India) Ltd opened at ₹501.00, touching the day’s high at ₹513.70, as of 10:41 AM on the NSE.

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