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Man Industries soared nearly 7% after the company received a new export order worth ₹1,700 crore.
MAN Industries is one of the largest makers and exporters of large diameter carbon steel line pipes in India.
The deets: the order is for the supply of various coated pipes. It is expected to be delivered during the next 6-12 months. With this, the company’s total orderbook now stands at an all-time high of ₹4,700 crore, with exports making up nearly 80% of the share. The order is also likely to contribute 50% to the company’s annual revenue.
By the numbers: Man Industries had announced its first-quarter results last month, reporting a 45.2% rise in net profit to ₹27.6 crore compared to ₹19 crore in the same period last year. However, revenue from operations slipped 0.9% to ₹742.1 crore.
