Man Industries (India) Ltd

BSE: MANINDS513269ISIN INE993A01026

Industrials
Iron & Steel Products
BSE Industrials

Share price

₹767.35+20.10 (+2.69%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹1,039.80
52W low: ₹302.30
Off 52W high: -26.20%
1M return: -13.68%
3M return: +43.93%
6M return: +42.68%
1Y return: +94.91%
20D avg volume: 45,694
50 DMA: ₹832.24
200 DMA: ₹571.85

Key ratios Consolidated

Market cap: ₹5,756 Cr
Current price: ₹767.35
52W high / low: ₹1,039.80 / ₹302.30
Face value: ₹5.00
P/E: 28.17
P/B: 2.76
EPS (TTM): ₹27.24
Book value / share: ₹278.21
ROE: —
ROCE: 16.10%
Operating margin: —
Net margin: —
Debt / equity: 0.24
Net debt: ₹310.43 Cr
Interest cover: 2.56
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 109.9 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,053	1,157	830.38	834.09	742.13	1,218	731.94	806.23	748.70	810.68	833.02	1,018
	11.83	8.21	8.34	19.29	31.49	15.46	5.54	10.73	20.09	14.34	14.35	21.18
	1,065	1,166	838.72	814.80	773.62	1,234	737.48	816.96	768.79	825.02	847.37	1,039
	979.49	1,093	762.43	765.37	735.37	1,143	690.62	774.15	741.29	792.58	804.15	985.10
	501.62	663.47	735.96	302.73	514.93	660.75	543.43	548.44	583.15	618.99	682.27	671.63
	1.71	0.63	0.00	176.63	115.26	11.91	73.90	78.16	93.57	30.93	—	10.36
	36.10	29.25	22.69	20.39	19.72	20.75	16.37	19.65	20.29	18.08	16.81	18.96
	39.96	52.27	38.19	30.21	29.77	34.94	26.17	20.88	17.65	24.80	20.32	21.88
	29.84	22.68	21.49	22.17	12.58	10.53	11.24	10.77	12.71	15.47	15.53	14.85
	190.62	449.68	182.37	90.64	82.99	101.89	114.41	107.43	68.32	94.25	120.22	118.76
	85.46	72.97	76.29	49.43	38.25	91.18	46.86	42.81	27.50	32.44	43.22	54.08
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	85.46	72.97	76.29	49.43	38.25	91.18	46.86	42.81	27.50	32.44	43.22	54.08
	24.02	22.12	21.25	12.45	10.64	23.04	12.74	10.95	8.45	8.31	12.62	15.04
	61.45	50.85	55.04	36.98	27.61	68.14	34.12	31.86	19.05	24.13	30.60	39.04
	8.19	7.00	7.64	4.83	4.13	9.15	5.36	4.92	2.94	4.00	5.09	6.68
Key metrics
	155.26	147.92	135.97	101.81	80.60	136.65	84.27	74.46	57.86	72.71	79.07	90.81
	14.70%	12.80%	16.40%	12.20%	10.90%	11.20%	11.50%	9.20%	7.70%	9.00%	9.50%	8.90%
	5.80%	4.40%	6.60%	4.40%	3.70%	5.60%	4.70%	4.00%	2.50%	3.00%	3.70%	3.80%
	—	5.20%	—	3.40%	—	7.00%	—	—	—	—	—	—
	41.90%	-5.00%	13.40%	3.50%	-0.90%	50.30%	-12.10%	-20.80%	—	—	—	—
	122.60%	-25.40%	61.30%	16.10%	44.90%	182.40%	11.50%	-18.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	3,875	3,564	3,505	3,142	2,231	2,139
	47.67	28.59	51.82	52.05	39.56	37.08
	3,884	3,592	3,557	3,194	2,271	2,176
	3,600	3,356	3,349	3,050	2,181	2,041
	2,204	2,217	2,336	2,487	1,456	1,535
	178.97	292.52	257.54	43.27	233.28	62.84
	108.43	92.05	77.06	68.81	59.94	54.12
	160.63	152.03	99.63	87.83	41.03	37.30
	96.18	78.92	45.25	61.09	45.35	45.40
	913.31	803.93	392.05	428.72	261.23	320.63
	284.15	236.94	208.35	144.30	90.38	134.97
	0.00	0.00	0.00	0.00	0.00	0.00
	284.15	236.94	208.35	144.30	90.38	134.97
	79.84	66.46	55.18	39.16	22.38	33.39
	204.32	170.48	153.17	105.14	68.00	101.58
	27.66	23.65	23.66	17.42	11.33	17.78
Key metrics
	540.96	467.89	353.23	293.22	176.76	217.67
	13.96%	13.10%	10.10%	9.30%	7.90%	10.20%
	5.27%	4.80%	4.40%	3.30%	3.00%	4.70%
	—	16.10%	17.20%	—	—	—
	10.75%	1.70%	11.60%	40.80%	4.30%	—
	26.33%	11.30%	45.70%	54.60%	-33.10%	—
	—	131.96	-87.39	—	—	—
	—	2.77	0.44	—	—	—
	—	0.24	0.28	—	—	—
	—	310.43	211.07	—	—	—
	—	109.9	100.4	—	—	—
Balance sheet
	—	5,021	3,779	—	—	—
	—	3,533	2,751	—	—	—
	—	189.20	244.88	—	—	—
	—	1,010	895.89	—	—	—
	—	1,535	1,269	—	—	—
	—	224.61	171.04	—	—	—
	—	654.57	572.41	—	—	—
	—	1,471	1,200	—	—	—
	—	2,597	1,985	—	—	—
	—	499.63	455.95	—	—	—
	—	259.48	317.47	—	—	—
	—	240.15	138.48	—	—	—
	—	2,087	1,607	—	—	—
Cash flow
	—	472.23	66.93	—	—	—
	—	-593.93	-44.70	—	—	—
	—	135.99	34.05	—	—	—
	—	340.27	154.32	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,010	1,157	803.54	781.63	713.10	850.44	730.83	805.01	731.93	778.09	830.28	1,008
	18.47	17.60	13.47	-12.84	35.00	37.22	14.66	8.78	25.37	18.39	20.52	23.22
	1,028	1,175	817.01	768.79	748.10	887.66	745.49	813.79	757.30	796.48	850.80	1,031
	924.00	1,080	735.29	721.07	709.13	830.81	695.23	767.52	725.19	771.12	801.03	972.38
	484.09	670.43	715.22	253.21	494.24	666.95	548.78	543.24	569.04	602.50	679.44	662.39
	1.71	0.00	0.00	177.27	115.26	11.91	73.89	78.16	93.57	33.55	—	10.36
	21.18	24.87	20.33	18.05	17.86	18.79	16.58	18.21	19.16	17.77	16.43	18.28
	32.07	55.08	37.81	30.07	29.63	34.73	25.90	20.94	17.56	24.26	20.09	22.01
	20.86	21.57	20.49	21.46	12.03	10.01	10.67	10.43	12.16	15.25	15.40	14.74
	184.45	433.40	180.16	97.96	79.99	97.85	114.30	107.51	68.11	93.99	120.67	115.94
	104.39	94.66	81.72	47.72	38.97	56.85	50.26	46.27	32.11	25.36	49.77	58.39
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	104.39	94.66	81.72	47.72	38.97	56.85	50.26	46.27	32.11	25.36	49.77	58.39
	26.45	24.46	20.83	12.11	9.84	16.53	12.65	11.21	7.97	8.11	12.62	14.92
	77.95	70.20	60.89	35.61	29.13	40.32	37.61	35.06	24.14	17.25	37.15	43.47
	10.39	9.74	8.45	4.62	4.36	6.32	5.72	5.42	3.73	2.86	6.18	7.23
Key metrics
	157.32	171.31	140.02	99.25	80.63	101.59	86.83	77.64	61.83	64.87	85.26	95.14
	15.60%	14.80%	17.40%	12.70%	11.30%	11.90%	11.90%	9.60%	8.40%	8.30%	10.30%	9.40%
	7.70%	6.10%	7.60%	4.60%	4.10%	4.70%	5.10%	4.40%	3.30%	2.20%	4.50%	4.30%
	—	6.60%	—	3.70%	—	5.70%	—	—	—	—	—	—
	41.60%	36.00%	9.90%	-2.90%	-2.60%	9.30%	-12.00%	-20.10%	—	—	—	—
	167.60%	74.10%	61.90%	1.60%	20.70%	133.70%	1.20%	-19.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	3,752	3,455	3,118	3,080	2,092	2,094
	36.70	53.07	86.03	66.21	40.18	37.18
	3,789	3,508	3,204	3,146	2,133	2,131
	3,460	3,245	3,019	2,998	2,043	1,997
	2,123	2,133	2,328	2,442	1,456	1,492
	178.98	292.52	257.54	45.90	98.48	62.84
	84.43	81.10	72.73	67.22	57.98	53.11
	155.03	154.19	99.12	87.06	41.02	37.30
	84.38	75.54	43.27	60.48	45.14	45.22
	895.97	789.75	387.77	428.77	260.22	320.84
	328.49	263.11	185.50	148.57	89.65	134.61
	0.00	0.00	0.00	—	—	—
	328.49	263.11	185.50	148.57	89.65	134.61
	83.85	67.24	48.38	38.83	22.38	33.39
	244.65	195.87	137.12	109.74	67.27	101.22
	33.20	27.17	21.18	18.19	11.21	17.72
Key metrics
	567.90	492.84	327.89	296.11	175.81	217.13
	15.14%	14.30%	10.50%	9.60%	8.40%	10.40%
	6.52%	5.70%	4.40%	3.60%	3.20%	4.80%
	—	18.50%	17.80%	—	—	—
	21.06%	10.80%	1.20%	47.20%	-0.10%	—
	72.14%	42.80%	24.90%	63.10%	-33.50%	—
	—	228.46	-64.66	—	—	—
	—	1.50	0.21	—	—	—
	—	0.23	0.25	—	—	—
	—	354.60	194.18	—	—	—
	—	73.0	72.8	—	—	—
Balance sheet
	—	4,545	3,472	—	—	—
	—	3,038	2,513	—	—	—
	—	78.78	158.58	—	—	—
	—	953.30	886.10	—	—	—
	—	1,212	931.83	—	—	—
	—	180.90	156.47	—	—	—
	—	570.55	498.52	—	—	—
	—	1,474	1,196	—	—	—
	—	2,288	1,869	—	—	—
	—	433.38	352.76	—	—	—
	—	194.93	215.98	—	—	—
	—	238.45	136.78	—	—	—
	—	1,922	1,419	—	—	—
Cash flow
	—	292.87	29.47	—	—	—
	—	-540.50	110.87	—	—	—
	—	183.01	-142.31	—	—	—
	—	64.41	94.13	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +18.20%
Sales CAGR 5Y: —
Profit CAGR 3Y: +42.80%
Profit CAGR 5Y: —
Sales YoY (TTM): +21.06%
Profit YoY (TTM): +72.14%

Consolidated

Sales CAGR 3Y: +16.89%
Sales CAGR 5Y: —
Profit CAGR 3Y: +35.85%
Profit CAGR 5Y: —
Sales YoY (TTM): +10.75%
Profit YoY (TTM): +26.33%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 43.22%

Quarter	September 2026	June 2026
Promoter %	43.22%	43.22%

Holder	Type	Holding	Previous	Change
Rameshchandra Mansukhani	Promoter	15.00%	15.00%	0.00%
Man Finance Private Limited	Promoter Group	11.96%	11.96%	0.00%
Heena Vinay Kalantri	Promoter	6.48%	6.48%	0.00%
Nikhil Mansukhani	Promoter	4.78%	4.78%	0.00%
Ashish Kacholia	Public	3.04%	3.04%	0.00%
Suresh Kumar Agarwal	Public	2.77%	3.04%	-0.27%
Man Global Limited	Promoter Group	2.46%	2.46%	0.00%
Deepadevi Rameshchandra Mansukhani	Promoter	2.41%	2.41%	0.00%
Vikas Vijaykumar Khemani	Public	2.39%	2.39%	0.00%
Hiten Dilip Bhatia	Public	1.40%	1.41%	-0.01%
The Court Receiver High Court Bombay(Com Arb Pet No 31/2020)	Public	1.29%	1.29%	0.00%
B Arunkumar Capital And Credit Services Pvt Ltd	Public	1.26%	1.26%	0.00%
Anil Laxmichand Shah	Public	1.05%	1.04%	+0.01%
Carnelian Structural Shift Fund	Public	1.02%	1.02%	0.00%
Rameshchandra Mansukhani (HUF)	Promoter Group	0.10%	0.10%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Welspun Corp Limited	63,062	2,390.60	26.60	16.70%	+13.62% TTM	+9.55% TTM	+158.46%
APL Apollo Tubes Limited	61,038	2,198.30	46.60	28.20%	+15.83% TTM	+24.90% TTM	+23.52%
Shyam Metalics and Energy Limited S	34,361	1,231.00	58.56	12.00%	+6.12% TTM	+12.47% TTM	+38.81%
Ratnamani Metals & Tubes Ltd	17,199	2,453.80	33.44	16.30%	-16.31% TTM	-8.61% TTM	+0.53%
Jindal Saw Ltd.	16,202	253.35	32.58	10.80%	-0.73% TTM	-55.61% TTM	+48.64%
Usha Martin Ltd.	14,798	485.60	29.16	18.20%	+8.54% TTM	+25.85% TTM	+2.31%
GODAWARI POWER AND ISPAT LTD.	13,845	205.65	17.14	17.90%	+8.43% TTM	+8.78% TTM	-26.21%
GALLANTT ISPAT LIMITED	12,753	528.55	31.30	18.00%	+5.52% TTM	-17.31% TTM	-5.83%
Jayaswal Neco Industries Ltd S	8,906	91.72	12.94	24.20%	+18.34% TTM	+82.81% TTM	+21.19%
Aeroflex Industries Limited	7,504	567.10	83.87	16.50%	+55.03% TTM	+87.04% TTM	+210.65%
Maharashtra Seamless Ltd.	7,450	556.00	10.11	13.00%	-12.21% TTM	-16.12% TTM	-3.03%
Sunflag Iron & Steel Co. Ltd.	7,070	392.30	34.35	3.70%	+9.35% TTM	+4.58% TTM	+48.12%
Shivalik Bimetal Controls Ltd.	6,178	1,072.50	58.24	25.00%	+27.78% TTM	+33.44% TTM	+130.55%
Technocraft Industries (India) Ltd.	6,166	2,719.40	17.69	19.30%	+12.39% TTM	+33.31% TTM	+12.14%
Man Industries (India) Ltd	5,756	767.35	28.17	16.10%	+10.75% TTM	+26.33% TTM	+94.91%
Goodluck India Limited	5,412	542.70	24.86	19.40%	+18.76% TTM	+31.22% TTM	+32.51%
SAMBHV STEEL TUBES LIMITED	4,886	165.80	25.04	17.50%	—	—	+41.23%
Bansal Wire Industries Limited	4,681	59.80	5.97	16.20%	+20.27% TTM	+2.82% TTM	-2.99%
Surya Roshni Ltd.	4,492	206.40	14.41	15.00%	+11.69% TTM	+8.34% TTM	-31.93%
Electrosteel Castings Ltd.	4,241	68.60	35.12	5.10%	-15.69% TTM	-78.91% TTM	-23.36%
Venus Pipes & Tubes Limited S	3,813	1,840.60	40.76	22.80%	+21.73% TTM	+15.01% TTM	+45.10%
Kalyani Steels Ltd	3,774	864.65	13.40	16.20%	-1.11% TTM	+8.01% TTM	+1.58%
Kirloskar Industries Ltd	3,479	3,308.30	10.24	—	+3.82% TTM	-0.15% TTM	-12.15%
Vardhman Special Steels Ltd S	3,454	356.90	21.41	13.50%	+14.75% TTM	+68.58% TTM	+20.94%
Ratnaveer Precision Engineering Limited S	3,192	380.35	41.84	13.30%	+21.02% TTM	+45.53% TTM	—

Filings & corporate actions

Recent announcements

As per the attachment.4 Nov 2026 · Company Update / Analyst / Investor Meet
Man Industries (India) Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/11/2026 ,inter alia, to consider and approve the Unaudited Financial ....2 Nov 2026 · Board Meeting / Board Meeting
We are enclosing herewith the Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 received from MUFG Intime India Private Limited, RTA of the Company, for the quarter ended 30.09.2026.8 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
The 38th Annual General meeting of the Company was held on 25.09.2026 at 03:00 p.m. through Video Conferencing ("VC"). In view of the above, we are enclosing herewith the Voting Results ....28 Sep 2026 · AGM/EGM / AGM
We are enclosing herewith the Proceedings of the 38th Annual General Meeting of the Company held on September 25, 2026, at 3:00 p.m.25 Sep 2026 · AGM/EGM / AGM
As per the attachment.24 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of Closure of Trading Window for the quarter ended September 30, 2026.24 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
As per the attachment.18 Sep 2026 · Company Update / Analyst / Investor Meet
As per the attachment.10 Sep 2026 · Company Update / Award of Order / Receipt of Order
As per the attachment.4 Sep 2026 · Company Update / Newspaper Publication
We are enclosing herewith the Business Responsibility and Sustainability Report of our Company for the financial year 2025-26.2 Sep 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
This is to inform you that the 38th Annual General Meeting ('AGM') of the Company will be held on Friday, September 25, 2026, at 3:00 p.m. through Video Conferencing / Other Audio Visual ....2 Sep 2026 · Others / Reg. 34 (1) Annual Report
This is to inform you that the 38th Annual General Meeting of the Company is scheduled to be held on Friday, September 25, 2026. The Register of Members and Share Transfer Books of the ....2 Sep 2026 · AGM/EGM / AGM
As per the attachment.1 Sep 2026 · Company Update / Investor Presentation
We are enclosing herewith the schedule of Investor/Analyst Meeting of the Company.26 Aug 2026 · Company Update / Analyst / Investor Meet
As per the attachment.18 Aug 2026 · Company Update / Analyst / Investor Meet
As per the attachment.14 Aug 2026 · Company Update / Press Release / Media Release
We are enclosing herewith the newspaper advertisement in respect of Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30.06.2026.13 Aug 2026 · Company Update / Newspaper Publication
As per the attachment.12 Aug 2026 · Company Update / Monitoring Agency Report
As per the attachment.12 Aug 2026 · Company Update / Analyst / Investor Meet
As per the attachment.12 Aug 2026 · Company Update / Investor Presentation
As per the attachment.12 Aug 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
As per the attachment.11 Aug 2026 · Company Update / Press Release / Media Release
As per the attachment.11 Aug 2026 · Result / Financial Results
Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at their meeting held ....11 Aug 2026 · Board Meeting / Outcome of Board Meeting
As per the attachment.6 Aug 2026 · Company Update / Analyst / Investor Meet
Man Industries (India) Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve the Unaudited Financial ....1 Aug 2026 · Board Meeting / Board Meeting
As per the attachment.28 Jul 2026 · Company Update / Newspaper Publication
We are enclosing herewith the Certificate under Regulation 74(5) of SEBI (Depositories & Participants) Regulations, 2018 received from MUFG Intime India Private Limited for the quarter ....9 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
As per the attachment.7 Jul 2026 · Company Update / Analyst / Investor Meet
As per the attachment.6 Jul 2026 · Company Update / Analyst / Investor Meet
As per the attachment.4 Jul 2026 · Company Update / Analyst / Investor Meet
As per the attachment.24 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
As per the attachment.24 Jun 2026 · Company Update / Analyst / Investor Meet
As per the attachment.18 Jun 2026 · Company Update / Award of Order / Receipt of Order
As per the attachment.17 Jun 2026 · Company Update / Analyst / Investor Meet
As per the attachment.8 Jun 2026 · Others
The Exchange has sought clarification from Man Industries (India) Ltd on June 8, 2026, with reference to Movement in Volume. <BR><BR>The reply is awaited.8 Jun 2026 · Company Update / Clarification
We wish to inform you that CRISIL Ratings Limited has upgraded the Long-Term Ratings of the Company on June 1, 2026.2 Jun 2026 · Company Update / Credit Rating
We wish to inform you that the transcript of Conference Call held with analysts / investors on Tuesday, May 26, 2026, has been uploaded on the website of the Company.1 Jun 2026 · Company Update / Analyst / Investor Meet

Board meetings

12 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results