Man Industries (India) Limited (MANINDS) AI Stock Analysis

• Market Cap: ₹26.63B
• Dividend Yield: 0.85%
• Average Volume (3M): 32.61K
• Price to Earnings (P/E): 16.9
• Beta (1Y): 1.97
• Revenue Growth: 2.59%
• EPS Growth: 26.56%
• Country: IN
• Employees: 794
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Steel
• EPS (TTM): 4.11
• Shares Outstanding: 67,235,190
• 10 Day Avg. Volume: 36,445
• 30 Day Avg. Volume: 32,614
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹434.00
• Price Target Upside: -2.18% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 69 Neutral
• Price Target: ₹434.00 ▼(-2.18% Downside)

Man Industries' overall stock score is driven by strong financial performance and reasonable valuation. However, technical indicators suggest bearish momentum, which could impact short-term performance. The lack of dividend yield and absence of significant earnings call insights or corporate events further moderate the score.

Man Industries (India) Limited Business Overview & Revenue Model

Company Description

Man Industries (India) Limited (MANINDS) is a leading Indian manufacturer and exporter specializing in the production of large diameter carbon steel line pipes, primarily used in the energy, infrastructure, and water sectors. With a robust manufacturing presence, the company provides high-quality pipe solutions for the oil and gas industry, water transportation systems, and other industrial applications, serving both domestic and international markets.

How the Company Makes Money

Man Industries (India) Limited generates revenue primarily through the manufacture and sale of large diameter carbon steel line pipes. The company's key revenue streams include contracts for supplying pipes for oil and gas pipelines, water transportation projects, and other infrastructure developments. MANINDS capitalizes on its state-of-the-art manufacturing facilities to produce high-quality products that meet international standards, thereby maintaining a competitive edge in both domestic and export markets. Strategic partnerships and long-term client relationships, particularly with major players in the energy and infrastructure sectors, significantly contribute to its earnings. The company's ability to customize products to meet specific client requirements and its focus on operational efficiency further bolster its profitability.

Man Industries (India) Limited Financial Statement Overview

Summary

Man Industries demonstrates strong financial performance with consistent revenue growth and profitability improvements. The balance sheet is robust, though rising liabilities should be watched. Cash flow management needs attention to ensure liquidity amidst capital expenditure increases.

Income Statement

Man Industries has exhibited robust revenue growth with a notable increase from 2020 to 2025. The gross profit margin remains strong, indicating effective cost management. The net profit margin has improved, reflecting enhanced profitability. However, a slight decline in EBIT margin in 2025 suggests increased operational expenses. Overall, the income statement showcases a positive growth trajectory and profitability in the steel industry.

Balance Sheet

The company maintains a healthy balance sheet with a favorable debt-to-equity ratio, indicating prudent financial leverage. The equity ratio is strong, reflecting stability and a solid asset base. Return on Equity has improved, demonstrating effective utilization of shareholder funds. However, the increase in total liabilities over the years warrants monitoring for potential risk management.

Cash Flow

The cash flow analysis reveals fluctuations, with free cash flow turning negative in 2025 due to higher capital expenditures. The operating cash flow to net income ratio is positive, indicating efficient cash generation relative to net income. However, the negative free cash flow growth rate in recent years points to potential liquidity challenges, which need addressing for sustained financial health.

Breakdown	Mar 2025	Mar 2023	Mar 2024	Mar 2022	Mar 2021
Income Statement
Total Revenue	35.05B	22.31B	31.42B	21.26B	20.53B
Gross Profit	7.71B	4.58B	4.48B	3.71B	5.42B
EBITDA	3.01B	1.76B	2.63B	2.18B	2.36B
Net Income	1.53B	670.40M	1.05B	1.02B	1.01B
Balance Sheet
Total Assets	37.79B	17.28B	24.15B	18.20B	17.86B
Cash, Cash Equivalents and Short-Term Investments	4.05B	1.78B	4.17B	819.50M	179.17M
Total Debt	4.76B	2.99B	3.26B	569.53M	2.96B
Total Liabilities	21.72B	7.24B	10.10B	8.78B	9.51B
Stockholders Equity	16.07B	10.04B	14.05B	9.42B	8.35B
Cash Flow
Free Cash Flow	-863.30M	-3.26B	1.37B	4.05B	-720.88M
Operating Cash Flow	679.90M	-1.19B	2.57B	4.51B	-598.94M
Investing Cash Flow	-413.30M	-1.35B	-2.64B	-1.19B	42.59M
Financing Cash Flow	296.30M	2.09B	1.58B	-2.67B	-631.01M

Man Industries (India) Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 443.65
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANINDS, the sentiment is Negative. The current price of 443.65 is above the 20-day moving average (MA) of 434.95, above the 50-day MA of 415.00, and above the 200-day MA of 328.32, indicating a neutral trend. The MACD of 2.93 indicates Positive momentum. The RSI at 41.17 is Neutral, neither overbought nor oversold. The STOCH value of 23.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MANINDS.

Man Industries (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANINDS	69 Neutral	₹26.63B	16.89		0.85%	2.59%	26.56%
VENUSPIPES	69 Neutral	₹26.40B	29.15		0.08%	19.49%	7.84%
INDIANHUME	68 Neutral	₹19.39B	3.47		1.09%	7.39%	612.81%
RAMASTEEL	57 Neutral	₹16.81B	75.77		―	0.15%	-28.59%
MANGLMCEM	56 Neutral	₹19.61B	32.54		0.21%	3.95%	-2.94%
SAGCEM	52 Neutral	₹29.89B	―		0.31%	-6.25%	-475.84%
Sector *	44 Neutral	C$923.76M	-8.68	-0.23%	2.69%	24.53%	-41.45%