Iron & Steel products company Man Industries (India) announced Q1FY25 results:
- Standalone Revenue: Rs 731.9 crore, up 57.7% YoY.
- Standalone EBITDA: Rs 61.8 crore, up 21.6% YoY.
- Standalone Profit After Tax (PAT): Rs 24.1 crore, up 103.2% YoY.
- Consolidated Revenue: Rs 748.7 crore, up 52.7% YoY.
- Consolidated EBITDA: Rs 57.9 crore, up 14.7% YoY.
- Consolidated Profit After Tax (PAT): Rs 19.1 crore, up 69.9% YoY.
- Future Outlook: The company anticipates stronger and more sustainable operating and net profit margins moving forward, particularly with the ramp-up of ERW mill and value-added products like API Pipes, which started production in Q4 FY24.
- Unexecuted Order Book: Approximately Rs 4,000 crore, expected to be executed within the next 6 to 12 months.
- Net Cash Position: Rs 174 crore as of March 31, 2024.
Reflecting on the company's Q1FY25 performance, Nikhil Mansukhani, Managing Director, MAN Industries (India), said, "We are happy to announce a strong and sustainable quarter. Our promising performance in the last quarter and securing new order wins are emphasizing our commitment towards excellence despite of global and domestic headwinds. On operational front, we have a strong order book of aprrox. Rs 4,000 crore to be concluded in next 6 to 12 months. 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. Your company is aggressively heading towards its expansion plans for both SAW and Stainless-Steel Seamless Tubes, which are very much on track. Further, I am quite excited to announce our upcoming line pipe and coating facilities in Dammam, Saudi Arabia that would cater overwhelming Saudi demand. We believe we can fulfil our commitments towards all our stakeholders.