Man Industries: Growth and Value stockFeb 25, 2016
Man Industries (India) Ltd. is a provider of line pipes and coating systems. It manufactures and exports large diameter carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable/drinking water industries. Its products segments consist of Longitudinal Submerged Arc Welded (LSAW ), Helically Submerged Arc Welded (HSAW) and coating. The Company manufactures LSAW pipes in various sizes.
- Plant in US, UAE and India.
- The company has upgraded its Pithampur plant.
- 1300 Cr order is a great visibility of sales in 2-3 qtr. It is high orders compared to past.
Dividend paying. Payout 10-15%.
1st phase of Pithampur Plant in M.P. w.e.f. 9th December, 2015.
The company has recently upgraded the HSAW PIPE manufacturing facility at Pithampur to manufacture 135 " dia pipes to cater water transport segment.
The Company has recently bagged an order for about Rs. 250 crores for supply of these pipes in MP. The full impact of Pithampur plant's contribution will start reflecting from the 4th quarter of the current financial year.
Listed on BSE and NSE.
One problem with this company is that tax dept has raided the premises for tax evasion. Result is not out. In few months tax dept may clear it. Should not be a big deal in India!
MIIL has strong presence in Middle East countries and substantial chunk of its volumes goes in that region.
Bombay HC appoints arbitrator to resolve Mansukhani brothers' dispute. They are promoters of Man Industries.