Man Industries (India) Limited , a leading manufacturer of large-diameter carbon steel line pipes, has reported robust financial results for the second quarter of fiscal year 2026, along with strategic expansions in the UAE market.

Financial Highlights

For Q2 FY26, Man Industries reported:

• Consolidated revenue from operations of Rs. 83,409.00 lakhs
• Consolidated net profit of Rs. 3,698.00 lakhs
• Highest-ever quarterly EBITDA margin of 12.50%, expanding 340 basis points year-on-year
• EBITDA growth of approximately 37% year-on-year to Rs. 102.00 crore

For H1 FY26, the company achieved:

• Consolidated revenue from operations of Rs. 1,57,622.00 lakhs
• Consolidated net profit of Rs. 6,459.00 lakhs
• EBITDA increase of about 38% year-on-year to Rs. 182.00 crore
• EBITDA margin improvement of 320 basis points to 11.50%

Operational Performance

The company's strong performance was attributed to a favorable product and geographic mix, along with continued cost optimization and operational efficiency initiatives. Man Industries maintained a net cash position, with a cash balance of Rs. 14.00 crore as of September 30, 2025.

Order Book and Business Outlook

Man Industries reported a robust order book of approximately Rs. 4,750.00 crore, scheduled for delivery over the next 6-9 months. Additionally, the company has a strong bid pipeline exceeding Rs. 15,000.00 crore, providing healthy revenue visibility for upcoming quarters.

Strategic Expansions

The company announced progress in its expansion projects:

1. Saudi Arabia Project: On track for commissioning by Q4 FY26
2. Jammu Project: Key milestones achieved, expected commissioning by Q4 FY26

New UAE Subsidiaries

Man Industries has incorporated two new subsidiaries in the UAE:

1. Man Coating Complex-L.L.C-S.P.C: Focused on the pipe coating industry to cater to UAE and international markets
2. Man Overseas Investment LLC: Established to explore business opportunities in the Middle East region

Both subsidiaries are wholly-owned by Man Overseas Metal DMCC, a subsidiary of Man Industries (India) Limited.

Management Commentary

Mr. Nikhil Mansukhani, Managing Director of Man Industries (India) Limited, stated, "We are delighted to report our highest-ever quarterly EBITDA margin, reflecting the strength of our strategy, execution excellence, and focus on operational efficiency. The improvement in profitability and margins reflects the resilience and scalability of our business model."

Board Appointments

The company's Board of Directors has appointed Mrs. Esha Padmanabhan Achan as an Additional Independent Director for a term of five years, subject to shareholder approval. Mrs. Achan brings over 33 years of experience in finance, with expertise in global finance, treasury, risk management, and mergers & acquisitions.

Future Outlook

Man Industries has reiterated its full-year revenue growth guidance of around 20% year-on-year. The company remains optimistic about its growth prospects, driven by steady order execution and healthy new order inflows.

With its strong financial performance, strategic expansions, and growing international footprint, Man Industries appears well-positioned for continued growth in the global line pipe industry.

Renowned investor Ashish Kacholia has significantly increased his shareholding in Man Industries , a move that has caught the attention of market watchers. According to recent data, Kacholia has more than doubled his stake in the company during the second quarter of the current fiscal year.

Stake Increase Details

This substantial increase in Kacholia's investment in Man Industries represents a vote of confidence in the company's prospects. The move is particularly noteworthy given Kacholia's reputation as a savvy investor with a keen eye for potential market winners.

Implications for Investors

While the reasons behind Kacholia's decision to increase his stake are not explicitly stated, such moves by prominent investors often attract attention from other market participants. It may prompt other investors to take a closer look at Man Industries and its recent performance.

However, it's important to note that individual investment decisions should be based on thorough research and analysis, rather than solely following the actions of other investors, no matter how renowned they may be.

Man Industries, the focus of this increased investment, operates in the steel pipe manufacturing sector. The company's performance and future outlook would be crucial factors for any investor considering following Kacholia's lead.

Conclusion

As always, potential investors are advised to conduct their own due diligence and consider their individual financial goals and risk tolerance before making any investment decisions.