Man Industries, announced today morning that it has received new orders in both domestic and export markets in Oil and Gas as well as water segments worth approximately Rs.500 crore.

The company is one of the largest players in LSAW Pipes, Spirally Welded Pipes and Coating Systems.

Man Inds had ended Q3FY21 on a good note with a 4% (YoY) rise in net profit at Rs.31 crore but on a more or less flat topline of Rs.7548 crore.

As at 31st Dec’20, the company had said that its unexecuted order book stood at Rs1,200cr, to be executed in the next 5 to 6 months. The company continues to have a robust book of outstanding bids for more than Rs19,000cr at various stages of evaluation for several Oil, Gas and Water projects in India and abroad. The company therefore expects good order inflow in near future.

The stock today opened 4% higher at Rs.82.25 and went on to hit an intraday high at Rs.86.75. Its 52-week high is at Rs.92.70.