MAN Industries (India) reported an 86.6 per cent year-on-year increase in consolidated EBITDA to a record Rs 1.90 billion for the second quarter of FY27, ended 30 September 2026. Consolidated profit after tax (PAT) surged 121.7 per cent to Rs 820 million, supported by the acquisition of Saudi Arabia-based National Pipe Company (NPC) and improved operational performance.

Consolidated revenue from operations increased 45.1 per cent to Rs 12.10 billion, while total income rose 49.3 per cent to Rs 12.16 billion. EBITDA margin expanded by 310 basis points to 15.6 per cent, compared with 12.5 per cent in the corresponding quarter last year.

The company's performance benefited significantly from NPC, acquired on 21 May 2026. During July–September 2026, NPC generated revenue of approximately Rs 4.86 billion and EBITDA of Rs 880 million, with an EBITDA margin of around 18 per cent. For the period from 21 May to 30 September, NPC contributed approximately Rs 5.32 billion in revenue and Rs 940 million in EBITDA to MAN Industries' consolidated results.

However, geopolitical disruptions in West Asia, particularly around the Strait of Hormuz, affected shipping operations and delayed finished goods dispatches. Consequently, approximately Rs 3.20 billion in revenue was deferred beyond Q2 FY27. Customers have since identified alternative ports, enabling the company to execute the pending shipments.

MAN Industries reported a consolidated order book of approximately Rs 35 billion across India and Saudi Arabia, with most orders expected to be executed over the next six to nine months.

The company is also progressing with several manufacturing expansion projects. Its greenfield stainless steel seamless pipe plant in Jammu is scheduled to commence production by April 2027, while the coating and double-jointing facility in Dammam, Saudi Arabia, is expected to begin operations by March 2027.

Additionally, MAN Industries plans to establish a helical submerged arc welded (HSAW) pipe manufacturing facility in the United States through its wholly owned subsidiary. The proposed plant will have an annual capacity of 350,000 metric tonnes, with planned capital expenditure of $110 million.

The company's real estate venture, Merino Shelters, also launched a joint development project with Paradise Group in Navi Mumbai on 26 October 2026. The project is expected to generate cash flows of Rs 7–8 billion over the next five to six years.

Nikhil Mansukhani, Managing Director, MAN Industries, highlighted the company's record quarterly EBITDA, successful integration of NPC and expanding international manufacturing footprint. He noted that the strong order book and upcoming facilities would support the development of a larger, integrated global pipeline solutions business.

With manufacturing operations in India and Saudi Arabia and planned expansion into the US, MAN Industries aims to strengthen its position in the global pipeline infrastructure market while enhancing its capabilities across oil and gas, water transmission and industrial applications.