Man Industries shares rally 4% after co receives Rs 800 cr order from Indian Oil

NEW DELHI: Man Industries (India), a smallcap company that makes large diameter pipes, has announced that it has bagged a new order worth approximately Rs 807 crore from Indian Oil Corporation (IOCL).

The company has been contracted to supply API High Grade Large Diameter Carbon steel pipes along with coating for the Oil & Gas sector.

With this recent announcement, the unexecuted order book for Man Industries now stands at approximately Rs 1,500 crore, which is to be executed in six to eight months.


The stock rose about 4 per cent after the company disclosed the contract. The market cap of the company is Rs 548 crore as of last trade on BSE.

The company in a press statement said it holds an impeccable track record of uninterrupted profitability, dividend and meeting all its financial commitments in the challenging and growing business environment.