Man Industries (India) Ltd (MANINDS) — shareholding pattern, promoter holding, financials and share price
About Man Industries (India) Ltd (MANINDS)
Man Industries (India) Ltd operates in the Iron & Steel Products industry, within the Capital Goods sector. It trades on the NSE as MANINDS and on the BSE under scrip code 513269. Its ISIN is INE993A01026.
Man Industries Ltd. is one of the largest Manufacturers and Exporters of LSAW and HSAW pipes in India with a total installed capacity of 1 million tonnes. The company is among leading manufacturer of large diameter pipes with 3 Decades of presence in Pipe Industry.
MAN Industries (India) Ltd is a leading Indian manufacturer and exporter of large-diameter carbon steel line pipes (LSAW, HSAW, ERW) and anti-corrosion coating systems, operating two state-of-the-art plants in Anjar (Gujarat) and Pithampur (Madhya Pradesh) with combined installed capacity above 1.2 million MTPA and a global footprint across 30+ countries.
Q3 and 9M FY26 showed strong operational leverage: consolidated 9M revenue of INR 2,427 crore, EBITDA margin expanded to 13.12% (9M) and Q3 EBITDA margin reached 16.22%, with consolidated PAT up ~41% year-on-year for 9M, driven by favorable product mix, higher export contribution and disciplined cost control.
Listed peers in Iron & Steel Products: Electrosteel Castings Ltd, Shivalik Bimetal Controls Ltd, Kalyani Steels Ltd, Venus Pipes & Tubes Ltd, Sambhv Steel Tubes Ltd, Welspun Specialty Solutions Ltd.
Valuation & Returns
10 Jul 2026At ₹566.4 a share on 10 Jul 2026, Man Industries (India) Ltd (MANINDS) was valued at a price-to-earnings ratio of 24.92x against an industry P/E of 37x and a price-to-book of 2.64x on a book value of ₹214.27 per share as of Mar 2025. Solomo computes return on equity of 10.61% and return on capital employed of 18.59% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 24.92x
- Industry P/E
- 37x
- P/B
- 2.64x
- EPS (TTM)
- ₹22.73
- Book value / share
- ₹214.27
- ROE
- 10.61%
- ROCE
- 18.59%
- ROA
- 4.51%
- Debt / equity
- 0.3x
- Dividend yield
- 0%
- EBITDA margin
- 13.08%
- 52-week range
- ₹302.05 – ₹623.7
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Man Industries (India) Ltd (MANINDS) reported revenue of ₹3,564 crore, net profit of ₹170 crore and earnings per share of ₹22.73. That compares with revenue of ₹3,505 crore and net profit of ₹153 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹1,157 crore and net profit ₹51 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 2,139 | 2,231 | 3,142 | 3,505 | 3,564 |
| Net profit (₹ cr) | 102 | 67 | 105 | 153 | 170 |
| EPS (₹) | 17.16 | 11.15 | 16.24 | 23.66 | 22.73 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 9.38% | 12.13% | 14.19% | 11.56% |
| Profit growth | 5.32% | 20.50% | 10.65% | 45.68% |
| Stock price CAGR | 27% | 36% | 57% | 27% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 43.21% of Man Industries (India) Ltd (MANINDS) (unchanged from the previous quarter), foreign institutional investors (FII) hold 2.87% and domestic institutional investors (DII) hold 1.43%. Promoters have pledged 20.1% of their holding. Market capitalisation was ₹4,249 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Jun 2002.
Largest disclosed public shareholders in Jun 2026: Ashish Kacholia 3.04%, Firm 3.04%, Suresh Kumar Agarwal 3.04%, Vikas Vijaykumar Khemani 2.39%, HUF 1.43%, Hiten Dilip Bhatia 1.41%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 43.21% | 20.1% | 2.87% | 1.43% | 56.79% |
| Mar 2026 | 43.21% | 20.1% | 2.41% | 1.34% | 56.79% |
| Dec 2025 | 43.21% | 20.1% | 3.35% | 1.27% | 56.79% |
| Sep 2025 | 43.21% | 20.1% | 2.32% | 1.69% | 56.79% |
| Jun 2025 | 48.21% | 20.1% | 2.19% | 0.88% | 51.79% |
| Mar 2025 | 46.21% | 21.7% | 3.33% | 1.03% | 53.79% |
| Dec 2024 | 46.15% | 27.2% | 2.16% | 2.65% | 53.85% |
| Sep 2024 | 46.15% | 27.2% | 2.52% | 3.28% | 53.85% |