Man Industries Hits 52-Week High with Rs 380 Crore in New Orders

6 Nov 2023 , 12:39 PM

Shares of Man Industries reached a 52-week high of Rs 244.70 on November 6, registering a gain of more than one %. This surge followed the company’s announcement of securing new orders valued at Rs 380 crore.

The company reported that its total unexecuted order book currently amounts to approximately Rs 1,400 crore, with these orders set to be executed within the next six months. The newly acquired contract pertains to the supply of various types of pipes.

Earlier in the same month, Man Industries had also secured orders totaling around Rs 400 crore from a domestic customer, covering various types of pipes.

A board of directors’ meeting for Man Industries (India) is scheduled for November 8, where they will consider and approve the unaudited financial results for the quarter and half-year ending on September 30, 2023.

In the previous quarter ending June 2023, the company reported a net profit of Rs 11.88 crore, reflecting a 13 % increase from the Rs 10.50 crore recorded in the same quarter of the previous year.

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