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On 6 Nov 2026, Man Industries (India) was priced at ₹797.70, or 29.3× trailing earnings, against an industry P/E of 19.9×, and the shares are 23% below their 52-week high. It earns ROCE of 14% and ROE of 9.2%, and sales and net profit grew 17% and 36% a year over 3 years. Debt is 0.30× equity. It is a small-cap company with a market cap of ₹5,984 Cr, ranked 27th of 150 Steel companies by market cap; the shares rose 102% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹788.65
Day high
₹808.00
Day low
₹757.70
Prev. close
₹796.00
Volume
6.1 L

Health check

2 good · 2 fair · 2 to check
  • ReturnsAhead

    +102.0% over a year, better than 7 of 7 peers.

  • Price tagPricier

    P/E 29.3 vs industry 19.9.

  • GrowthStrong

    Sales +16.5%, profit +36.5% a year over 3 years.

  • ProfitabilityAverage

    ROCE 13.7% vs peer median 18.7%.

  • Balance sheetFair

    Debt 0.30× equity, interest covered 3.5×, Piotroski 4 of 9.

  • Red flags1 to check

    Quarterly profit down 13.0% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Steel

149 listed peers. Screen the industry

Small cap

₹5,984 Cr, #27 of 150 in its industry by size.

Defensive

Beta 0.57 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Jun 2026: sales ₹3,875 Cr · profit ₹204 Cr
Market cap
₹5,984 Cr
Small cap
P/E
29.3
Industry 19.9
Price to book
2.78
Peers 2.28
Dividend yield
0.00%
ROE
9.2%
Peers 23.4%
ROCE
13.7%
Peers 18.7%
Debt to equity
0.30
Debt ₹628 Cr
EPS (TTM)
₹27.25
Face value ₹5
OPM (TTM)
13.7%
Net margin 5.3%
Sales growth
+41.9%
Latest quarter vs a year ago
Profit growth
−13.0%
Latest quarter vs a year ago
Price to sales
1.54
EV/EBITDA 11.8

Strengths and risks

Strengths

  • Quarterly sales up 41.9% on a year ago.

Risks to check

  • Quarterly profit down 13.0% on a year ago.

Derived automatically from reported figures. Not a recommendation.

About Man Industries (India)

Man Industries (India) Limited manufactures, processes, sells, and trades in submerged arc-welded steel pipes and products in India and internationally. The company offers longitudinal submerged arc-welded (LSAW), helically submerged arc-welded (HSAW) line pipes, external coatings and internal linings, electro resistance-welded (ERW) pipes, and hot induction bends (HIB) pipes. It serves oil and gas, petrochemicals, water transmission, dredging,…

Headquarters
Mumbai
Employees
825
Sector
Basic Materials
ISIN
INE993A01026
Website
mangroup.com

Price range

52 weeks

₹302.05₹1,039.70

Today

₹757.70₹808.00
Avg volume (3M)
13 L
1-year return
plus 102.0%
From 52-week high
minus 23.3%

Peers · Steel

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
JSWSTEELJSW Steel1,357.10plus 0.11%3,31,26511.712.218.7%17.7%0.623.6%plus 14.7%
TATASTEELTata Steel186.30plus 2.36%2,32,39721.19.111.3%15.2%0.89−1.6%plus 1.5%
JINDALSTELJindal Steel1,165.00plus 1.31%1,18,59441.514.97.5%15.9%0.42−13.1%plus 6.4%
LLOYDSMELloyds Metals And Energy1,785.50minus 1.38%1,00,48219.118.819.4%37.4%1.2371.3%plus 37.4%
SAILSteel Authority of India171.60minus 0.41%70,88012.68.17.2%12.9%0.502.0%plus 24.7%
NMDCNMDC70.40minus 0.01%61,8948.36.228.4%30.0%0.1922.0%minus 5.2%
APLAPOLLOAPL Apollo Tubes2,185.30minus 0.41%60,67746.332.728.0%8.2%0.1712.6%plus 23.3%
MANINDSMan Industries (India)797.70plus 0.21%5,98429.312.313.7%13.7%0.3016.5%plus 102.0%
Median of 7 peers–−0.01%1,00,48219.112.218.7%15.9%0.503.6%14.7%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
7428348301,1571,053
6667137031,018910
75.8121128140143
10.2%14.5%15.4%12.1%13.6%
5.3−19.38.38.211.8
30.230.238.252.340
12.622.221.522.729.8
38.349.476.37385.5
27.8%25.2%27.9%30.3%28.1%
27.6375550.924
4.134.687.517.008.06

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+16.5%
Profit CAGR 3Y
+36.5%
EPS CAGR 3Y
+27.7%
ROE
9.2%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
2,2173,1133,4703,508
–+40.4%+11.5%+1.1%
2,0742,8643,1633,096
142249307412
6.4%8.0%8.9%11.7%
22.948.218.31.1
25.587.869.496.2
45.561.145.278.9
−4.7−4.3−2.5−1.1
89.5144208237
25.1%27.1%26.5%28.0%
67105153170
–+56.8%+45.7%+11.3%
11.1716.7322.7823.26

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
30.132.432.437.5
1,1021,3721,5752,049
301326476628
4276841,6962,306
1,8602,4153,7795,021
5406368081,163
50.596.2236369
1.312.30.10
37.3387201260
1,2321,2842,5353,228
1,8602,4153,7795,021

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
−12034573.1472
−135−279−111−594
2118624.5136
−45.1152−13.714.3
−207−117−154−340
−328228−81.2132
−11.8−12––

Shareholding pattern

Source: NSE filings
43.2%
promoters
  • Promoters43.21%
  • Public56.79%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202643.21%56.79%0.00
30 Jun 202643.21%56.79%0.00
31 Mar 202643.21%56.79%0.00
31 Dec 202543.21%56.79%0.00
30 Sep 202543.21%56.79%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you