Man Industries (India) Limited has uploaded the transcript of its conference call held with analysts and investors on May 26, 2026, to its official website. The call, which commenced at 4:00 PM IST, was conducted to discuss the company's financial performance for the fourth quarter and fiscal year 2026. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conference Call Schedule

The event was scheduled to accommodate participants from various regions. The specific time slots were as follows:

Management Participants

The discussion featured key management personnel including Dr. Ramesh Chandra Mansukhani, Chairman, and Mr. Nikhil Mansukhani, Managing Director. Other participants included Mr. Sandeep Kumar, Chief Financial Officer, Mr. Rahul Rawat, Company Secretary, and Mr. Vijay Gychandani, DGM Investor Relations.

Access Information

The transcript is available for download at the company's website. Stakeholders seeking further information regarding the conference call may contact Prateek Singh at +91 99670 16107 or via email at prateek.singh@iiflcap.com .

Man Industries (India) Limited reported its highest-ever standalone and consolidated EBITDA and PAT margins for the fiscal year ended March 31, 2026. The company delivered a robust operational performance in Q4 FY26, with standalone revenue growing 36% year-on-year to ₹1,157 crore and standalone PAT surging 74% to ₹70 crore. Consolidated revenue, adjusted for a one-time real estate contribution in the prior year, grew approximately 36.2% year-on-year, reflecting strong momentum in the core pipe business. The Board of Directors approved the audited standalone and consolidated financial results at a meeting held on May 25, 2026.

Q4 Financial Performance

Man Industries achieved significant profitability improvements in Q4 FY26, driven by strong order execution and an optimized product mix. Standalone EBITDA jumped 69% year-on-year to ₹171 crore, with margins expanding 300 basis points to 14.6%. On a consolidated basis, EBITDA rose 8.4% to ₹148 crore, while PAT declined to ₹51 crore from ₹68 crore in the corresponding period last year. The company noted that Q4 FY25 consolidated revenue included a one-time contribution of ₹369 crore from the Merino Shelters real estate asset; excluding this, the core pipe business delivered revenue growth of approximately 36.2% year-on-year.

Operational Highlights and Strategic Updates

The company achieved record margins in FY26, with standalone EBITDA and PAT margins reaching all-time highs of 14.0% and 5.6% respectively. Consolidated EBITDA and PAT margins also reached record levels of 13.0% and 4.7%. Man Industries remained net cash positive at ₹157.5 crore, with cash and cash equivalents standing at ₹657.2 crore at year-end. The standalone order book stands at approximately ₹3,000 crore, executable over the next 6–12 months, providing strong revenue visibility for FY27.

On May 21, 2026, Man Industries, through its wholly-owned subsidiary MISIC, acquired a 100% equity stake in National Pipe Company (NPC), Saudi Arabia for USD 102 million (~₹1,000 crore). NPC adds 430,000 MTPA of pipe capacity and a debt-free balance sheet with USD 83 million in cash. The company also provided revenue guidance of ₹5,000–5,500 crore for FY27 with an EBITDA margin of 13-15%, excluding any contribution from Merino Shelters.

Management Commentary

Mr. Nikhil Mansukhani, Managing Director, stated that FY26 was a defining year with the company achieving its highest-ever consolidated EBITDA and PAT margins. He highlighted the strength of the strategy to optimize the product portfolio and deepen international footprints. He further noted that with a robust order book, the acquisition of NPC, and the upcoming greenfield plant in Jammu, the company is building a diversified platform for sustained growth entering FY27.

Board Meeting and Key Disclosures

The Board meeting, held under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, commenced at 06:20 P.M. and concluded at 07:25 P.M. The Board confirmed that the Auditor's Report on the audited financial results for the year ended March 31, 2026, carries an unmodified opinion. The regulatory filing was signed by Rahul Rawat, Company Secretary of Man Industries (India) Limited.