Man Industries Posts Record EBITDA Margin In Q2FY26

17 Nov 2025 CW Team

EBITDA for Q2FY26 rose by around 37 per cent year-on-year to Rs 1.02 billion, with margins expanding 340 basis points to 12.5 per cent. For H1FY26, EBITDA increased by roughly 38 per cent year-on-year to Rs 1.82 billion, with margins improving 320 basis points to 11.5 per cent.

Key Business Highlights

1. Strong Profit Growth and Solid Balance Sheet Consolidated PAT for H1FY26 grew by about 27 per cent year-on-year, while cash profit increased by 34 per cent. During Q2FY26, PAT rose by nearly 16 per cent year-on-year and 34 per cent quarter-on-quarter, with cash profit up 39 per cent YoY and 47 per cent QoQ. The company maintained a healthy balance sheet, reporting a net cash position of Rs 140 million as at 30 September 2025.

2. Record Order Book Man Industries’ executable order book stands at approximately Rs 47.5 billion, to be delivered over the next six to nine months. A strong bid pipeline of over Rs 150 billion provides visibility for continued revenue growth and sustained order inflows.

3. Strategic Expansions in Saudi Arabia and Jammu Expansion projects in Saudi Arabia and Jammu are progressing on schedule, with major civil and equipment milestones completed. Both facilities are expected to be commissioned by Q4FY26, supporting the company’s long-term capacity expansion and global growth plans.

Outlook The company remains optimistic about H2FY26, supported by steady execution and strong new orders. It reiterated full-year revenue growth guidance of around 20 per cent year-on-year.

Managing Director Nikhil Mansukhani said the record margin performance reflects the company’s strong execution and operational discipline. “With a robust order book, expanding international footprint and ongoing capacity additions, we are well positioned for the next phase of growth,” he said.

Man Industries (India) Ltd, a leading manufacturer of large-diameter carbon steel line pipes and coating systems for the oil and gas sector, has reported strong financial results for the quarter and half year ended 30 September 2025. The company achieved its highest-ever consolidated quarterly EBITDA margin, reflecting improved operational efficiency and a favourable product mix. EBITDA for Q2FY26 rose by around 37 per cent year-on-year to Rs 1.02 billion, with margins expanding 340 basis points to 12.5 per cent. For H1FY26, EBITDA increased by roughly 38 per cent year-on-year to Rs 1.82 billion, with margins improving 320 basis points to 11.5 per cent. Key Business Highlights 1. Strong Profit Growth and Solid Balance Sheet Consolidated PAT for H1FY26 grew by about 27 per cent year-on-year, while cash profit increased by 34 per cent. During Q2FY26, PAT rose by nearly 16 per cent year-on-year and 34 per cent quarter-on-quarter, with cash profit up 39 per cent YoY and 47 per cent QoQ. The company maintained a healthy balance sheet, reporting a net cash position of Rs 140 million as at 30 September 2025. 2. Record Order Book Man Industries’ executable order book stands at approximately Rs 47.5 billion, to be delivered over the next six to nine months. A strong bid pipeline of over Rs 150 billion provides visibility for continued revenue growth and sustained order inflows. 3. Strategic Expansions in Saudi Arabia and Jammu Expansion projects in Saudi Arabia and Jammu are progressing on schedule, with major civil and equipment milestones completed. Both facilities are expected to be commissioned by Q4FY26, supporting the company’s long-term capacity expansion and global growth plans. Outlook The company remains optimistic about H2FY26, supported by steady execution and strong new orders. It reiterated full-year revenue growth guidance of around 20 per cent year-on-year. Managing Director Nikhil Mansukhani said the record margin performance reflects the company’s strong execution and operational discipline. “With a robust order book, expanding international footprint and ongoing capacity additions, we are well positioned for the next phase of growth,” he said.

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