Man Industries (India) Limited achieved its highest-ever quarterly EBITDA margin of 16.2% for the three months ended December 31, 2025, marking a 480 basis points expansion from 11.4% in the year-ago period. According to reports from The Hindu BusinessLine, the large-diameter carbon steel line pipe manufacturer's consolidated EBITDA surged 61% year-on-year to ₹136 crore in Q3FY26, driven by a favorable product and geographic mix. The impressive margin expansion was attributed to strategic ad spend optimization, which decreased as a percentage of revenue from 34.3% in Q3FY25 to 30.9% in Q3FY26, along with scale-based leverage in operational expenses.
The company posted consolidated revenue from operations of ₹830 crore for the quarter, up 13.4% year-on-year. As reported by The Hindu BusinessLine, profit after tax grew 61.3% to ₹55 crore, with PAT margins expanding 200 basis points to 6.6%. On a sequential basis, PAT improved 48.8% from ₹37 crore in Q2FY26. The company maintained a healthy negative working capital cycle of -9 days, indicating efficient inventory and receivables management.
For the nine-month period ended December 31, 2025, consolidated EBITDA grew 47% to ₹318 crore with margins at 13.1%, up 380 basis points year-on-year. According to The Hindu BusinessLine, revenue stood at ₹2,407 crore, up 5.2%, while PAT increased 40.7% to ₹120 crore. The company maintained a net cash position of ₹38 crore as of December 31, 2025.
Man Industries reported an executable order book of ₹4,000 crore, providing revenue visibility for the next 6-12 months. As reported by The Hindu BusinessLine, Managing Director Nikhil Mansukhani confirmed the company remains on track with capacity expansion plans in Saudi Arabia and Jammu. The Saudi facility is expected to commence commercial production by Q1FY27, while the Jammu facility is targeted for commissioning by Q2FY27.
Shares of Man Industries traded at ₹381.20 on NSE at 1:51 pm on Monday, up 4.91% or ₹17.85 from the previous close of ₹363.35. According to The Hindu BusinessLine, the stock touched an intraday high of ₹397.40 and a low of ₹367.80, with 18.33 lakh shares changing hands. The company reiterated its full-year revenue guidance of ₹3,600-3,700 crore, implying 15-20% growth in its core business.
