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Man Industries India Ltd BSE:513269 NSE:MANINDS

Man Industries India Ltd is engaged in Non Ferrous Metals business. Company is listed on both NSE and BSE. NSE symbol for Man Industries India Ltd is 'MANINDS' and BSE code for Man Industries India Ltd is '513269'.

About Company

Incorporated in 1988, Man Industries India Ltd is the flag ship company of Man Group of a manufacturer of submerged arc welded (SAW) line pipes for the oil and gas industries, and power and petrochemical industries. Company has manufacturing facility for Spiral SAW Pipes along with facilities for various corrosion preventive coatings on line pipes such as FBE/3 layer Polyethylene Coating, Coal tar Enamel Coating, Internal & external Cement mortar and internal epoxy Lining, Aluminium extrusions.The facility of a COLD EXPANDING MACHINE is also available

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Man Industries India Ltd User Reviews

1. Guest  Feb 10, 2008 8:11:33 AM IST Reply

Buy@ Rs 110 For target of Rs 150 In 1 Year.Man Industries is a manufacturer and worldwide exporter of large diameter Carbon Steel Line Pipes for various high pressure transmission applications for Gas, Crude Oil, Petrochemical Products and Potable Water.<br><br> <br><br> The company has state of the art manufacturing facilities for LSAW (Longitudinal Submerged Arc Welded) and HSAW (Helically Submerged Arc Welded) Line Pipes and also for various types of Anti Corrosion Coating Systems with its plants located at Pithampur in M.P. and at Anjar in Gujarat.<br><br> <br><br> The annual installed capacity of the company is over 5 lakh TPA, based on 32 inches inner diameter and 12 mm wall thickness. The capacity is in excess of 10 lakh TPA, based on 56 inches inner diameter and 29 mm wall thickness. <br><br> <br><br> The company is the first company to manufacture 18 meter H Saw Pipe. The company has recently commenced its one more line of production at Anjar and shall be adding two more production lines in the next 6 months.<br><br> <br><br> The company had recently received a single order from U.S. of U.S $ 225 million, for 257 miles of 42 inches Diameter LSAW and HSAW pipe lines and the recently commissioned production line is catering to this order.<br><br> <br><br> The order in hand of the company is of close to Rs.3,000 crores and the company has bid for order of over U.S. $ one billion, in which, the company is hopeful of receiving good number of orders.<br><br> <br><br> The company has recently set up its subsidiary in US and UAE as also received approval to set up an IT SEZ at Indore.<br><br> <br><br> The company has recently split its shares to face value of Rs.5 and present equity of Rs.26.64 crores is held to the extent of 40.54% by the promoters, 24.24% by Mutual Fund, Banks and FIIs, 8.50% by Depository Receipt Holder and 27% by Public.<br><br> <br><br> The company has been showing robust financial performance every year. For FY 07, the total income of the company was at Rs.1,133 crores with EBITDA of Rs.132 crores, resulting in an EBITDA margin of 11.65%. PBT was placed at Rs.83.95 crores while PAT was at Rs.55.30 crores, giving an EPS of Rs.10.38 (face value Rs.5).<br><br> <br><br> For quarter ending December 07, total income was at Rs.414 crores with PAT of Rs.20.73 crores, resulting in an EPS of Rs.3.89 for the quarter. For 9 months ending December 07, total income was at Rs.1,090 crores with PAT of Rs.57.02 crores, giving an EPS of Rs.10.70. This exceeds whole of FY 07 performance. Based on this, FY 08, topline should be close to Rs.1,600 crores and PAT of Rs.80 crores, giving an EPS of Rs.15.<br><br> <br><br> The share is presently ruling at Rs.110, which discounts historic earnings by close to 7 times. Expecting a growth of 25% for FY 09, the PE multiple works out to less than 6 times, which makes it, probably the cheapest saw pipe maker, when compared with Welspun, Jindal Saw, PSL and Maharashtra Seamless.<br><br> <br><br> The share at Rs.110 qualifies an excellent buy with no downward risk and potential to rise to Rs.150 levels in the next 6 8 months.<br><br>

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