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In the news

Mahan Industries Q1 profit surges 2030% to ₹1.72 crore

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Man Industries gains 2% on ₹1,000 cr order wins, NPC acquisition

Man Industries rises 2% after Crisil upgrades rating to 'A+'

Man Industries, Hitachi Energy Post Strong Q4 Results

Man Industries Q4 profit declines 25% to ₹50.85 crore

Man Industries Q4 profit drops 25% to ₹51 crore despite margin gains

Man Industries posts record 16.2% EBITDA margin in Q3FY26

Man Industries Q3 profit surges 62% YoY, shares jump 7%
Company insights, generated from the most recent coverage.
75-80% of revenue from exports demonstrates global competitiveness and reduces India-specific demand risk. Operations across 30+ countries with 20,000+ KM pipes supplied since inception.
Total committed capex ~₹2,000 Cr with additional ₹455-895 Cr required over 36 months for scale-up; funded primarily via strong internal accruals (₹515 Cr FY26 OCF) and low-cost debt, maintaining conservative debt-to-equity of 0.27.
Successfully tested pipes for hydrogen transportation by leading European Research Centre; positions company for future energy infrastructure beyond hydrocarbons as hydrogen economy develops.
The Quarter story
The two most recent quarterly results, compared side-by-side.
Revenue and margins are expanding, but rising costs and debt pressure are creating profit volatility.
Revenue from operations grew from ₹7,421 Cr to ₹11,573 Cr from Q1 FY26 to Q4 FY26 — strong top-line momentum
Operating expenses spiked from ₹6,929 Cr to ₹10,176 Cr from Q1 FY26 to Q4 FY26 — cost inflation pressure
Gross profit margin expanded from 23.7% to 35.9% from Q1 FY26 to Q1 FY27 — healthy pricing power
Finance costs climbed from ₹298 Cr to ₹523 Cr from Q1 FY26 to Q4 FY26 — rising debt burden
EBITDA margin improved from 10.4% to 14.6% from Q1 FY26 to Q1 FY27 — stable operational efficiency
Current market price fell from ₹413.1 to ₹318.1 from Q1 FY26 to Q4 FY26 — sustained sell pressure
PAT margin rose from 3.6% to 5.8% from Q1 FY26 to Q1 FY27 — resilient bottom-line profitability
PAT dropped from ₹646 Cr to ₹70 Cr from Q2 FY26 to Q4 FY26 — sharp earnings volatility
Public shareholding increased from 48.72% to 53.04% from Q1 FY26 to Q4 FY26 — retail accumulation
Cash and bank balances swung from ₹4,362 Cr to ₹38 Cr from Q2 FY26 to Q3 FY26 before rebounding to ₹6,572 Cr in Q4 FY26 — volatile liquidity management