Man Industries bags export orders worth ₹405 crore

Man Industries (India) Ltd, a manufacturer of large diameter pipes, has bagged an export order worth ₹405 crore from companies in Central Asia, said a top official.

“Despite the ongoing crisis and challenging business environment globally, we are striving to grow our order book and increase the capacity utilisation. We have bagged orders from two oil-producing companies and deliveries would start from October and completed by March 2021,” R. C. Mansukhani, chairman, Man Industries, told The Hindu.

With this, the total unexecuted order book of the company stands at about ₹1,800 crore, out of which 80% is exports. These orders are meant to be executed in the current financial year, he said.

Last year, the company posted a revenue of ₹1,800 crore of which exports accounted for ₹1,000 crore.

The manufacturer of pipes for transporting gas, crude oil, petrochemical products and potable water, had nil sales during April 2020. “In June, we reached 95% of production capacity and currently, we are nearing 100% utilisation. This year, we are planning to grow by 20% to clock a turnover of ₹2,200 crore, with exports of ₹1,500 crore,” he said.

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