Chennai, June 01, 2021: MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing company, has announced its audited financial results for the quarter and full year ended March 31st, 2021. The company reported consolidated Total income in FY21 stood at ₹21,110 Million, a growth of 18.9% YoY compared to FY20. EBITDA stood at ₹2,358 Million, a growth of 27.8 % YoY with an EBITDA margin of 11.2%. PAT stood at ₹1,009 Million, a growth of 81.7% YoY, with a PAT Margin of 4.8%.

Further, the Company has reported the Standalone Total Income of ₹5,573 Million in Q4 FY21. EBITDA stood at ₹589 Million, a growth of 24.2% YoY. EBITDA Margin stood at 10.6%. PAT for the quarter stood at ₹259 Million, a growth of 107% YoY, with a PAT Margin of 4.6%.

The unexecuted order book as on 31st March 2021 stood approximately at ₹18,000 Million, to be executed in the current financial year. The company continues to have a robust book of outstanding bids for more than ₹1,20,000 Million 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.

Commenting upon the performance and future outlook of the Company, Dr. R.C. Mansukhani, Chairman, MAN Industries (India) Limited, said “We are happy to announce a steady performance for the quarter despite the uncertainties created by the pandemic. Reported revenue for the quarter stands at ₹5,573 Million. EBITDA for the quarter has grown by 24% year on year to ₹589 Million. Opportunities in the oil and gas sector remain positive on account of higher oil prices and increasing drilling activities globally. Government’s aim to increase the share of Natural Gas in the country’s energy mix to 15 % by 2030 and make India a Gas-based economy will provide ample opportunities for steel pipes manufacturers like us. We are seeing traction in the Oil & Gas industry domestically as well as globally.

We expect the demand in the oil and gas along with water related infra to give a big push to the demand in the coming quarters and we have started to see good traction in the opening of the bids from various companies and govt. agencies. Overall, we remain committed to deliver profitable growth and continue to be one of the major players in the industry. I would like to thank the entire team of our company for their constant hard work.”