MAN Industries nosedives ~7% on posting 45% y-o-y decline in Q1FY23 PAT

11 Aug 2022 , 03:11 PM

MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing companies, announced its un-audited financial results for the quarter ended June 30, 2022.

For the quarter under review, the company posted a standalone Total Income of Rs507.9 crore, as against Rs410.30 crore in Q1FY22, up by 23.80% yoy. On a consolidated basis, total income jumped 27.5% yoy at Rs523 crore.

Company’s EBITDA for the quarter was reported at Rs35.20 crore, down by 21.80% yoy against Rs45 crore in the previous corresponding quarter.

EBITDA margin for Q1FY23 was reported at 6.9% as compared to 11% in Q1FY22.

Further, the company reported a severe decline of 45.5% yoy in Standalone PAT at Rs10.50 crore in Q1FY23, as against Rs19.30 crore in Q1FY22. Consolidated PAT for Q1FY23 was reported at Rs9.80 crore, down by 49% yoy.

Company’s PAT Margins came in at 2.1% in Q1FY23 as compared to 4.7% in Q1FY22.

The unexecuted order book currently stands at approximately Rs1,000 crore, which will be executed over the next 5 to 6 months.

The company stated in media reports that it maintains a robust book of bids totaling more than Rs17,000 crore in various stages of evaluation for various oil, gas, and water projects in both the domestic and global markets.

At around 3.15 PM, Man Industries was trading at Rs89.85 down by Rs6.15 or 6.41% from its previous closing of Rs96 on the BSE. The scrip touched intraday high and low of Rs97.55 and Rs88.35 respectively.