Man Industries FY21 net profit at INR 1009 Million, up by 81.7%

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Man Industries PAT for the quarter stood at INR 259 Million, a growth of 107% YoY, with a PAT Margin of 4.6%.

MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing company, has announced its audited financial results for the quarter and full year ended March 31st, 2021.

Highlights:

• The company reported consolidated Total income in FY21 stood at INR 21,110 Million, a growth of 18.9% YoY compared to FY20.
• EBITDA for FY21 stood at INR 2,358 Million, a growth of 27.8 % YoY with an EBITDA margin of 11.2%.
• PAT for FY21 stood at INR 1,009 Million, a growth of 81.7% YoY, with a PAT Margin of 4.8%.
• The Company has reported the Standalone Total Income of INR 5,573 Million in Q4 FY21.
• EBITDA for the quarter stood at INR 589 Million, a growth of 24.2% YoY. EBITDA Margin stood at 10.6%.
• PAT for the quarter stood at INR 259 Million, a growth of 107% YoY, with a PAT Margin of 4.6%.

Man Industries (India) Limited reports Financial Results (consolidated):                                                     (Millions)

Particulars Q4 FY21 Q4 FY20 % change Y-o-Y FY21 FY20 % change Y-o-Y
Total Income 5,573 6,709 (16.9%) 21,110 17,758 18.9%
EBITDA 589 474 24.2% 2,358 1,845 27.8%
EBITDA Margin 10.6% 7.1% 350 bps 11.2% 10.4% 78 bps
PAT 259 125 107.0% 1009 555 81.7%
PAT Margins 4.6% 1.9% 278 bps 4.8% 3.1% 165 bps

 

The unexecuted order book as on 31st March 2021 stood approximately at INR 18,000 Million, to be executed in the current financial year. The company continues to have a robust book of outstanding bids for more than INR 1,20,000 Million at various stages of evaluation for several Oil, Gas and Water projects in India and abroad. The company therefore expects good order inflow in near future.

Dr. R.C. Mansukhani, Chairman, MAN Industries (India) Limited said “We are happy to announce a steady performance for the quarter despite the uncertainties created by the pandemic. Reported revenue for the quarter stands at INR 5,573 Million. EBITDA for the quarter has grown by 24% year on year to INR 589 Million. Opportunities in the oil and gas sector remain positive on account of higher oil prices and increasing drilling activities globally. Government’s aim to increase the share of Natural Gas in the country’s energy mix to 15 % by 2030 and make India a Gas-based economy will provide ample opportunities for steel pipes manufacturers like us. We are seeing traction in the Oil & Gas industry domestically as well as globally.

We expect the demand in the oil and gas along with water related infra to give a big push to the demand in the coming quarters and we have started to see good traction in the opening of the bids from various companies and govt. agencies. Overall, we remain committed to deliver profitable growth and continue to be one of the major players in the industry. I would like to thank the entire team of our company for their constant hard work.”