Shares of Man Industries (India) Ltd surged 9.5 per cent on 3 September following the announcement of a significant Rs 17 billion export order for coated pipes. The order is scheduled for execution over the next six to 12 months, lifting the company’s outstanding order book to approximately Rs 47 billion.

The company stated that the new contract underscores a robust business outlook and continued customer trust.

In the first quarter of the financial year, net profit increased by 45.2 per cent to Rs 276 million, up from Rs 190 million in the corresponding period last year. While revenue from operations saw a modest decline of 0.9 per cent to Rs 7.42 billion, EBITDA rose by 28.2 per cent to Rs 494 million, with margins improving from 5.1 per cent to 6.6 per cent.

Man Industries reaffirmed its 20 per cent revenue growth target for FY26, anticipating stronger performance in the second half on the back of increased order inflows and better capacity utilisation.

The company’s share price closed at Rs 414 on 3 September, a 6.53 per cent gain for the day. The stock has risen 8 per cent in the past five days, despite a 9 per cent dip over the past month. Over the last six months, it has delivered an impressive 97 per cent gain, and is up 26 per cent year-to-date.