Man Industries secures new orders worth Rs 4.9 billion

31 May 2024 CW Team

Man Industries (India) announced that it had secured new orders worth Rs 40.90 million from both domestic and international clients. These orders involve the supply of various types of pipes. With the addition of these new orders, the company's total unexecuted order book now stands at around Rs 26 billion, and these orders are expected to be fulfilled within the next 6 to 8 months.

Man Industries, which specializes in producing large-diameter submerged arc welded carbon steel pipes, is a key player in the global line pipe market.

In its most recent quarterly report released, the company reported a 19.1% decrease in profit compared to the same quarter in the previous fiscal year. However, operating revenue saw a significant year-over-year increase of 35.6%, reaching Rs 8.10 billion. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also grew impressively by 43.1% annually, reaching ?58.4 Crore.

At the time of reporting, the company's stocks were trading at Rs 347.00, reflecting a 0.67% gain from the previous close. The stock had gained 165% in the last year and 24% since the beginning of the year.

In its financial results filing, the company highlighted the successful testing of hydrogen transportation pipes, setting an industry standard. This testing was conducted by a prominent international testing firm. With plans for new hydrogen transportation lines, the company aims to leverage this advantage to further enhance its order book.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..