MAN Industries (India) Limited reports highest ever revenue both for Q2 & H1 FY19

Deepthi | Myequity news | Date : 30-10-2018 12:00:00 IST

MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing company has announced today its unaudited results for the quarter and half year ended September 30, 2018. In Q2FY19 company reported revenue from operations of Rs. 7,736 Million as compared to Rs. 3,011 Million in Q2FY18. In H1FY19 company reported revenue of 14,103 Million as compared to 6,288 Million in H1FY18.

The company has reported 63% increase in the net profit after tax from Rs.94 Million in Q2FY18 to Rs.152 Million in Q2FY19.

Q2 & H1FY19 Results:

•Q2FY19 Revenue from operations of Rs. 7,736 Million up by 157% YoY.
•Q2FY19 EBITDA for the period stands at Rs. 552 Million up by 70% YoY.
•Q2FY19 PAT for the period stands at 152 Million up by 63% YoY.
•H1FY19 Revenue from operations of Rs. 14,103 Million up by 124% YoY.
•H1FY19 EBITDA for the period stands at Rs. 1,218 Million up by 85% YoY.
•H1FY19 PAT for the period stands at 403 Million up by 107% YoY.

During the year, company commissioned a new production line for 3 LPE coating plant having capacity of 2.4 Million sq. meters per annum. This is in addition to the Concrete Wet Coating (CWC) Plant which was commissioned in the previous year.


Commenting on the robust financial performance of the Company, Mr. R. C. Mansukhani, Chairman said "Despite multiple challenge, Man Industries reported highest ever revenue both for Q2 & H1 FY19. Going forward we see good opportunity in domestic as well as international markets with increased margins potential".

The company continues to have a robust book of outstanding bids for more than Rs. 1,20,000 Million at various stages of evaluation for several Oil, Gas and Water projects in India and abroad. The unexecuted order book as on date is approximately Rs. 10,000 Million to be executed by March 2019.

ABOUT MAN GROUP:

MAN Industries (India) Ltd., an ISO 90011 14001 /18001 accredited Company, is a leading manufacturer of SAW Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum. MAN Industries has now become one of the largest players in LSAW Pipes, Spirally Welded Pipes and Coating Systems. MAN Industries operations are spread globally with offices in U.S. and U.A.E. besides India.


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