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27 Years
4.4 Star
1 Crore +
Iron & Steel Products company Man Industries (India) announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
Consolidated:
- Revenue at Rs 810.7 crore ( 35.6% YoY)
- EBITDA at Rs 72.7 crore ( 39.1% YoY)
- PAT at Rs 24.1 crore (-7.4% YoY)
- Cash Profit at Rs 39.6 crore ( 5.9% YoY)
Standalone:
- Revenue at Rs 778.1 crore ( 40.2% YoY)
- EBITDA at Rs 64.8 crore ( 22.0% YoY)
- PAT at Rs 17.2 crore (-35.9%YoY)
- Cash Profit at Rs 32.5 crore (-15.1% YoY)
FY24 Financial Highlights:
Consolidated:
- Revenue at Rs 3,142.2 crore ( 40.8% YoY)
- EBITDA at Rs 293.2 crore ( 65.9% YoY)
- PAT at Rs 105.1 crore ( 54.6% YoY)
- Cash Profit at Rs 166.2 crore ( 42.3% YoY)
Standalone:
- Revenue at Rs 3,080.1 crore ( 47.2% YoY)
- EBITDA at Rs 296.1 crore ( 68.5% YoY)
- PAT at Rs 109.7 crore ( 63.2% YoY)
- Cash Profit at Rs 170.2 crore ( 51.4% YoY)
Reflecting on the company's FY24 performance, Nikhil Mansukhani, Managing Director, MAN Industries (India) Limited, said, “We are happy to announce a strong and sustainable quarter and year. Our promising performance in the last financial year and securing new order wins are emphasizing our commitment towards excellence. On operation front, recently we have announced additional order of Rs 505 crore to be concluded in next 6 months. From the beginning of the calendar year 2024, we have secured total order book of Rs 1,480 crore. We envisage a strong order book for coming quarters and are hopeful for the stronger performance going forward. Having said that, Our ERW mill has successfully received API (American Petroleum Institute) Certification, these pipes are usually required in O&G industry and with higher margin. Although we have started our ERW Mill in late financial year, we are quite hopeful that, the current financial year would be a sustainable year for our ERW segment. Your company is aggressively heading towards its expansion plans for both SAW and Stainless-Steel Seamless Tubes, which are very much on track. We believe we can fulfil our commitments towards all our stakeholders “
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