Man Industries (India) Limited held its Extraordinary General Meeting on February 10, 2026, at 3:00 p.m. through video conferencing, achieving significant shareholder approval for a key board appointment. The meeting addressed the regularization of Mrs. Esha Padmanabhan Achan's appointment as an Independent Director of the company.

Meeting Participation and Attendance

The EGM witnessed participation from shareholders representing a substantial portion of the company's equity base. Key attendance metrics demonstrate strong engagement from both promoter and public shareholders.

Resolution Details and Voting Results

The single agenda item focused on the appointment of Mrs. Esha Padmanabhan Achan (DIN: 10350369) as an Independent Director. This special resolution required approval from shareholders and received overwhelming support across all categories.

Comprehensive Voting Breakdown

Voting Process and Timeline

The company implemented a comprehensive voting mechanism combining remote e-voting and e-voting during the meeting. The remote e-voting period commenced on February 7, 2026, at 9:00 a.m. and concluded on February 9, 2026, at 5:00 p.m.

Final Vote Tally

Scrutinizer's Oversight

Mayank Arora of M/s. Mayank Arora & Co., Company Secretaries, served as the appointed Scrutinizer for the voting process. The scrutinizer's report, dated February 11, 2026, confirmed the validity of the voting process and results. Central Depository Services (India) Limited (CDSL) provided the electronic voting platform, ensuring transparency and security in the voting mechanism.

Resolution Outcome

The resolution for Mrs. Esha Padmanabhan Achan's appointment as Independent Director passed with requisite majority, receiving unanimous support from all voting categories. No votes were cast against the resolution, and no invalid votes were recorded during the process. The company has fulfilled its regulatory obligations under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by intimating the voting results to both BSE Limited and National Stock Exchange of India Limited.

Man Industries (India) Limited announced its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, showcasing strong operational performance across key financial metrics. The Board of Directors approved these results at their meeting held on February 9, 2026, along with releasing comprehensive earnings presentation highlighting strategic expansion initiatives.

Standalone Financial Performance

The company delivered impressive standalone results for Q3FY26, demonstrating robust growth across revenue and profitability parameters.

The revenue growth was driven by increased operational efficiency and market demand for steel products. Total expenses for the quarter stood at ₹73,528 lakhs compared to ₹69,523 lakhs in the previous year, reflecting controlled cost management despite inflationary pressures.

Nine Months Performance Analysis

For the nine months ended December 31, 2025, Man Industries maintained consistent growth momentum with revenue from operations reaching ₹2,29,828 lakhs compared to ₹2,26,777 lakhs in the corresponding period last year.

Consolidated Results Overview

On a consolidated basis, the company reported revenue from operations of ₹83,038 lakhs for Q3FY26 compared to ₹73,194 lakhs in Q3FY25, representing growth of 13.40%. Consolidated net profit attributable to owners stood at ₹5,504 lakhs versus ₹3,412 lakhs in the previous year quarter.

Strategic Expansion Initiatives

The earnings presentation revealed significant strategic expansion plans across two key locations. The company is establishing a H-SAW pipes facility in Saudi Arabia with 3,00,000 MTPA capacity and project cost of INR 6 billion, targeting Q1-FY27 commercialization. Additionally, a stainless steel seamless pipes facility in Jammu with 22,000 MTPA capacity and INR 5.9 billion project cost is planned for Q2-FY27 commercialization.

Operational Highlights

The company operates primarily in the steel pipes segment and maintains a strong order book position of approximately ₹4,005 crores to be executed within 6 to 12 months. This substantial order book provides revenue visibility and reflects the company's strong market position in the steel products industry.

With over 3 decades of presence in the pipe industry, the company operates 2 state-of-art manufacturing facilities with 6 production lines and total installed capacity of 1.2 Million+ MTPA. The facilities are strategically located to cater to both domestic and export markets.

Manufacturing Capabilities

The company's manufacturing facilities span across Anjar, Gujarat and Pithampur, Madhya Pradesh, covering approximately 182 acres. Both facilities are certified under ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, producing LSAW, HSAW, and ERW pipes with stringent quality control processes.

Finance costs included interest on bill discounting and buyers/suppliers credit of ₹1,133 lakhs for the quarter and ₹3,311 lakhs for nine months ended December 31, 2025. The financial results were reviewed by the Audit Committee and approved by the Board of Directors, with statutory auditors A. Sachdev & Co. providing limited review reports for both standalone and consolidated results.