Man Industries (India) Limited (513269) Earnings Call Transcripts

Man Industries (India) Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Man Industries (India) Limited reported strong financial performance, with standalone revenue increasing by 36% YoY to INR 1,157 crores and EBITDA surging 69% to INR 171 crores. The company achieved its highest-ever EBITDA and PAT margins, driven by a successful acquisition of the National Pipe Company in Saudi Arabia for $102 million, which is expected to significantly enhance revenue and profitability. For FY '27, management provided a consolidated revenue guidance of INR 5,000 to INR 5,500 crores, reflecting confidence in the expanded operational platform and a robust order book of INR 3,000 crores.

Reported metrics

Guidance from management

Management expects consolidated revenue for FY '27 to be between INR 5,000 crores and INR 5,500 crores, reflecting the impact of the NPC acquisition and ongoing projects. This guidance represents a significant increase from FY '26's revenue.

What management said

Thank you, Nikhil. Good evening, everyone. Let me now walk you through the key financial highlights for Q4 and FY '26. Stand-alone performance. On a stand-alone basis, FY '26 was exceptionally good across all -- every metrics. Revenue from operations grew...

Yes. Okay. So regarding the Jammu plant, for the FY '28 for the first year, once the plant starts is between 35% to 40% of the utilization as per our plan. Regarding the preference, the preference got closed out already and in last year itself. And regarding the ForEx, like we have mentioned, the INR 25 crores ForEx due to the equipment. And once that will be recovered once the plant is up and running and the stainle...

What analysts pressed on

Analysts expressed concerns about the impact of Forex losses on consolidated profitability and the sustainability of margins given the current geopolitical climate. There were also questions regarding the utilization rates of the Jammu plant and the timing of revenue contributions from the NPC acquisition.

Main topics on the call

• Acquisition of National Pipe Company — Man Industries completed the acquisition of National Pipe Company for $102 million, which includes $83 million in cash and liquid assets. This acquisition is expected to be EPS accretive from day one and positions the co...
• Record Financial Performance — The company achieved its highest-ever standalone EBITDA margin of 14% and PAT margin of 5.6% in FY '26. Standalone revenue grew 11% YoY to INR 3,508 crores, while consolidated revenue reached INR 3,592.50 crores, up 31% ...
• Future Revenue Guidance — Management provided a consolidated revenue guidance of INR 5,000 to INR 5,500 crores for FY '27, significantly up from FY '26's INR 3,500 to INR 3,600 crores. This guidance reflects confidence in the combined operational...
• Impact of Forex Losses — Management noted a Forex mark-to-market loss affecting consolidated profitability, primarily due to CapEx supplier payables in the Jammu project. This is expected to normalize as INR stabilizes.

Read the full Man Industries (India) Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 9 Man Industries (India) Limited earnings call transcripts on record, spanning January 16, 2024 to May 26, 2026. Based on this history, Man Industries (India) Limited reports quarterly. The most recent call on file is dated May 26, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

513269

Exchange

BSE

Country

IN

Sector

Industrials

Industry

Construction and Engineering

Calls on record

9

First call

January 16, 2024

Most recent

May 26, 2026

Reporting cadence

quarterly