Man Industries has reported a sharp jump in profitability for the first quarter of FY27, posting its highest-ever standalone quarterly PAT and highest-ever consolidated quarterly EBITDA, as strong revenue growth and an improved product and geographic mix lifted margins.

 

The company, a major manufacturer of large-diameter carbon steel line pipes and coating systems for the oil and gas sector, reported consolidated EBITDA of Rs. 155 crore, up 92.6% year-on-year and 5% sequentially.

 

Consolidated PAT more than doubled year-on-year to Rs. 61 crore, while revenue from operations climbed 37.7% to Rs. 1,065 crore. The company said the revenue growth was its strongest year-on-year performance in five quarters.

 

The standalone business delivered an even stronger performance. Revenue rose 37.5% year-on-year to Rs. 1,028 crore, while EBITDA jumped 95.1% to Rs. 157 crore.

 

EBITDA margin expanded by 450 basis points to 15.3%, reflecting stronger operating leverage and a favourable business mix.

 

Standalone PAT surged 167.7% to Rs. 78 crore, marking the company's highest-ever quarterly PAT. PAT margin also reached a record 7.6%, up 370 basis points year-on-year.

 

Man Industries entered FY27 with a consolidated order book of approximately Rs. 3,600 crore across India and Saudi Arabia, with most of the orders expected to be executed over the next six to 12 months.

 

The company also has a combined bid pipeline of around Rs. 24,000 crore, giving it a sizeable opportunity for future order inflows.

 

Management said the strong order position, along with continued expansion of its global pipeline, is supporting the company's growth outlook for the remainder of FY27.

 

The company's expansion plans are also progressing.

 

Construction of its Jammu greenfield stainless steel seamless pipe plant remains on schedule, with production expected to begin by March 2027.

 

In Saudi Arabia, the Dammam coating and double-jointing facility is also targeted to commence operations by March 2027. The facility is expected to strengthen the company's integrated manufacturing and value-added processing capabilities in the region.

 

Meanwhile, the Merino Shelters project has received its Commencement Certificate for approximately 20,00,000 sq. ft., along with RERA registration. The project is scheduled for launch in mid-September 2026, with MAN's share expected to generate Rs. 35–50 crore in cash flows during FY27.

 

With a strong opening quarter, a sizeable order book and a substantial bid pipeline, Man Industries remains on track to achieve its FY27 revenue target of approximately Rs. 5,000 crore, while maintaining an EBITDA margin in the 13–15% range.

 

The company said the combination of strong execution, an optimised product and geographic mix, and expanding global opportunities positions it for continued operating momentum through FY27.