Shares of Man Industries gained 9 percent intraday Thursday as the company has received orders worth Rs 700 crore from international and domestic customers for supply of pipes for oil, gas and water sector projects. With these new orders, outstanding order book as on date stands at approximately Rs 1300 crore to be executed over a period of 6 to 8 months.



"The company has outstanding bids of approximately USD 1.5 billion 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 from the outstanding bids which are at various levels of evaluation by the clients," as per BSE filing.



The company has upgraded its Pithampur plant with the enhanced capacities to become pioneer to produce pipes up to 3600 mm dia meter with coating facilities. According to Chairman, RC Mansukhani, the EBITDA margins would be between 12-14 percent for new orders and FY16 revenue growth is likely to be in range of 25-30 percent.



There is no slowdown in transmission orders of oil & gas." At 09:33 hrs Man Industries (India) was quoting at Rs 112.00, up Rs 7.50, or 7.18 percent on the BSE.

here is company details.

 

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