Man Industries Share Price

Man Industries (India) Limited manufactures, processes, sells, and trades in submerged arc-welded pipes and steel products in India. The company offers longitudinal submerged arc-welded (LSAW) and helically submerged arc-welded (HSAW) line pipes, external coatings and internal linings, electro resistance-welded (ERW) pipes, and hot induction bends (HIB) pipes. It serves customers in the oil, gas, petrochemicals, water dredging, and fertilizer industries. The company exports its products. Man Industries share price on the NSE and BSE is a reflection of how market participants respond to a company’s performance and broader business developments within its industry. It captures the sentiment of the investors based on financial results, operational updates, macroeconomic factors, and trends specific to sectors. Movements in the share price͏ reveal how the market evaluates the company’s current position and its future prospects, making ͏it a key indicator of market perception across various industries.

Man Industries stock price is influenced by various factors such as earnings, order book visibility, raw material (steel) costs, and global energy capex cycles. In the longer run, strategies such as capacity expansion, product diversification, and securing large-scale projects affect the stock market sentiments. All these factors must be closely monitored to have an idea about the ABC stock price movements.

Man Industries live share price provides real-time information about the last price traded, bid price, ask price, and volume traded. These indicators represent trading activity and liquidity and the reaction of investors to corporate announcements, quarterly results, and sector news. Constant ͏monitoring of Man Industries live price helps observe short-term price fluctuations and understand how the stock is moving in relation to the broader market.

Furthermore, monitoring the Man Industries share͏ price today helps investors understand real-time market sentiment, price volatility, and trading behaviour. It allows market participants to evaluate short-term performance, identify possible entry or exit points, and respond to news, quarterly results or sector trends that may affect the company’s valuation and overall investment outlook.

Man Industries (India) Limited Company Fundamentals

Man Industries Company Background

Man Industries (India) Ltd. (MIIL) is the flagship company of the Man Group, a diversified industrial enterprise established by the Mansukhani family in the 1970s. The company was incorporated on 19 May 1988 and received its Certificate of Commencement of Business on 28 July 1989. Initially involved in aluminium extrusion, MIIL later pivoted its focus to the line pipe sector, becoming one of India’s leading manufacturers and exporters of large-diameter carbon steel pipes, such as Longitudinal Submerged Arc Welded (LSAW) and Helically Submerged Arc Welded (HSAW) pipes, used in high-pressure transmission applications. MIIL’s operations include advanced manufacturing facilities in Anjar (Gujarat) and Pithampur (Madhya Pradesh), equipped to produce coated and uncoated steel pipes, alongside Electric Resistance Welded (ERW) products. The production portfolio targets sectors such as oil and gas transmission, petrochemicals, water infrastructure, city gas distribution, and other industrial applications. MIIL is certified under international standards like API 5L and ISO QMS, operating to meet stringent quality requirements for global clients.

Over time, the company has diversified into value-added steel product lines and expanded its global reach, supplying pipes and coating solutions across major markets in the Middle East, Africa, the Americas, and Asia

Man Industries Company Product Lines

• Longitudinal Submerged Arc Welded (LSAW) Pipes: Large-diameter carbon steel line pipes used for high-pressure transmission of oil, gas, petrochemicals, and water; manufactured in a range of diameters and lengths.
• Helically Submerged Arc Welded (HSAW) Pipes: Spiral/helix-welded pipes for pipeline applications requiring flexibility and strength, serving energy and infrastructure sectors.
• Electric Resistance Welded (ERW) Pipes: API-grade ERW pipes catering to both domestic and international demand for transmission and distribution networks.
• Anti-Corrosion Coating Systems: Internal and external coating services including FBE/DFBE, 3LPE/3LPP, and concrete wet coating to enhance operational life of pipes in aggressive environments.
• Value-Added Accessories: Connectors, bends and fittings designed to support pipeline infrastructure, enhancing assembly and installation efficiency.
• Specialised Steel Product Extensions: Expansion into stainless steel and other allied tubular products under new capacity additions as part of strategic diversification

Man Industries Company Revenue Model

• Sales of Pipes and Coating Products: Revenue is primarily generated from the manufacturing and sale of steel pipes (LSAW, HSAW, ERW) and associated anti-corrosion coatings to industrial clients across energy, oil and gas, water and infrastructure sectors.
• Export Earnings: Significant portion of revenue comes from international sales, with clients in the Middle East, USA, Africa, Southeast Asia, and Latin America, driven by global pipeline projects.
• Domestic Project Contracts: MIIL secures orders from major Indian enterprises and government-linked projects for pipeline installation, city gas distribution (CGD) networks and water transmission infrastructure.
• Value-Added Products and Services: Selling connectors, bends and other specialised pipeline accessories to enhance total contract value.
• Coating and Engineering Services: Revenue contribution from coating solutions, inspection, testing, and technical services bundled with pipe supply contracts.
• Strategic Asset Monetisation: Occasional non-operational revenue from asset monetisation or sale of non-core business units adds to financial inflows

Man Industries Geographic Presence

• India: MIIL’s core manufacturing and operational footprint is in India with major facilities in Anjar (Gujarat) and Pithampur (Madhya Pradesh). These plants support production, coating and logistics for both domestic and export markets.
• Middle East: Substantial export presence supplying line pipes for oil and gas infrastructure, with strategic initiatives to establish additional facilities in Saudi Arabia to strengthen regional market access.
• North America: MIIL serves clients in the United States and Canada with line pipe orders for energy and industrial projects, reflecting global pipeline demand.
• Africa & South America: The company exports to several countries across Africa and Latin America, supporting pipeline projects in energy, water and industrial sectors.
• Asia Pacific: Markets in Southeast Asia and Australia contribute to the company’s export revenues, driven by infrastructure growth and industrial applications.

Man Industries Leadership 

Some of the key leaders of Man Industries (India) Ltd. as of February 2026 are:

• R. C. Mansukhani – Executive Chairman
• Nikhil Mansukhani – Managing Director
• Narendra Mairpady – Independent Director
• Renu Purshottam Jalan – Independent Director
• Dr. Rabi Bastia – Independent Director
• Sandeep Kumar – Chief Financial Officer
• Rahul Rawat – Company Secretary and Compliance Officer

Man Industries Key Milestones

• 1970: Man Group promoted by the Mansukhani family.
• 1988: Man Industries (India) Ltd. incorporated with initial aluminium extrusion focus.
• 1992: MoU with Haeusler for SAW pipe plant technology.
• 1995: Company awarded ISO 9002 certification.
• 1997: Acquisition of Man Intertrade (UK) Limited.
• 2000: Strategic tie-ups with Mitsubishi and Sumitomo.
• 2004: Large export orders and JV with Aluchem, Inc. (US).
• 2005: Commissioned Anjar Line Pipe & Coating Complex.
• 2007: Commissioned new H-SAW production line (200,000 MT).
• 2008: Secured large LSAW/HSAW orders; expansion plans in USA.
• 2009: 3rd HSAW line commissioned, raising capacity.
• 2021: Incorporated Man Offshore & Drilling Ltd., Man Stainless Steel Tubes Ltd.
• 2025: Launched ERW API product line

Industry Perspective

Man Industries (India) Ltd. operates within the global steel pipes and tubes market, a key segment of the broader steel and industrial fabrication industry. This sector supplies welded, SAW and ERW pipes for critical infrastructure applications such as oil and gas transportation, water and wastewater networks, and industrial pipelines. The global steel pipe market was valued around USD 137–140 billion in 2025 and is projected to expand significantly over the coming decade, with various estimates suggesting a compound annual growth rate (CAGR) between approximately 3.8% and 6.5% through the early 2030s, supported by infrastructure investment and energy sector demand. Growth is underpinned by rising global energy consumption, renewed pipeline construction, and modernization of water and utility networks in emerging and developed economies alike. Asia Pacific, particularly India, remains a strong growth driver, with the Indian steel pipes market expected to grow at a CAGR around 7.4% to 7.8% through the next decade, propelled by urbanisation, government infrastructure spending and expanding oil & gas projects. The industry also sees technological shifts toward corrosion-resistant coatings and specialised pipe grades. Despite cyclical variations in oil prices and raw material costs, demand for steel pipes remains robust across multiple end-use sectors, making the market competitive and strategically important for companies like MIIL.

Man Industries (India) Limited Stock Market Presence: Listings & Index Representation

Man Industries (India) Limited is listed on the BSE (Bombay Stock Exchange) under the scrip code 513269. The company is also listed on the NSE (National Stock Exchange) under the symbol MANINDS. Its inclusion in prominent indices such as the S&P BSE Industrials, S&P BSE SmallCap, S&P BSE MidSmallCap, and the S&P BSE AllCap underscores the company’s established presence within India’s industrial manufacturing segment.

Its inclusion in prominent indices reflects the company’s role as a key domestic manufacturer supporting large-scale infrastructure and energy projects. Listing on NSE and BSE ensures liquidity, while its index presence in the industrials and small-cap categories links its performance to broader economic cycles of industrial and infrastructure growth.

Man Industries stock price is tracked by investors focusing on the capital goods and industrial sectors. Its market movements often correlate with trends in government infrastructure spending, global energy prices, and steel commodity cycles, which directly impact the company’s core business of pipeline manufacturing.

Man Industries (India) Limited Stock Performance and Share Price History

Man Industries share price on NSE and BSE reflects its position as a leading manufacturer of large-diameter line pipes. Performance is driven by order book growth, project execution, raw material cost management, and global demand for energy transportation infrastructure. Investors compare Man Industries share price today with the broader Nifty and sectoral indices to gauge relative performance.

These underlying factors are often visible through real market movements across different periods. Similar trends are observed during earnings-driven movements. Broader sector strength in infrastructure has also played a role in supporting Man Industries share price. In addition to operational and sector-led factors, market sentiment around large project awards and global commodity price swings can also have a significant impact on Man Industries share price movements short-term even when a company’s fundamentals remain steady. This shows how external factors can trigger short-term swings, even within a capital-intensive industrial framework influenced by economic cycles.

While short-term movements reflect events and announcements, longer-term valuation trends are visible through Man Industries share price 52-week high and low, providing context beyond daily or weekly changes. For instance, the stock reached a 52-week high of ₹513.70 and a low of ₹201.55, capturing the volatility and growth expectations within the sector. These levels capture impacts of economic policy, industrial growth expectations, and earnings visibility, providing context for the stock’s historical performance.

Man Industries’ stock performance reflects the trading behaviour of a mid-sized industrial company operating within global infrastructure cycles. The company’s focus on large-diameter pipes, strategic capacity, and a diversified global clientele have shaped its Man Industries share price history. Over time, the stock has shown periods of significant growth and phases of consolidation, closely tied to commodity and infrastructure investment cycles.

The early 2010s witnessed strong growth, particularly between 2010 and 2011, driven by rising global infrastructure demand. During broader market corrections, such as in 2008, the Man Industries stock price experienced high volatility, with a sharp correction followed by a strong recovery in 2009. Between 2016 and 2017, Man Industries delivered high returns, reflecting strong order inflows and operational performance. From 2018 to 2020, the Man Industries share price faced headwinds, mirroring broader market challenges and lower commodity prices, while a renewed positive momentum began in 2021, aligned with a global infrastructure push.

Man Industries’s stock performance over time has closely followed global economic and commodity cycles. For instance, the Man Industries share price surged in calendar year 2023, delivering a remarkable annual return of 268.65%, supported by strong investor confidence, robust order books, and favourable sectoral trends. Over longer investment horizons, the stock has delivered meaningful returns, including gains of 392.17% over five years and 325.06% over three years. These returns highlight growth aligned with expanding global energy infrastructure and domestic capex cycles.

Despite market disruptions, Man Industries shares have shown resilience in certain periods. For example, while the stock declined by 23.12% in 2022, it rebounded strongly the following year. The Man Industries share price decrease in years like 2019 (down 38.19%) and 2018 (down 46.40%) often aligned with broader industrial slowdowns, tightening liquidity, and compressed margins. Conversely, significant increases in the Man Industries stock price, such as the 191.09% gain in 2017 or the 88.80% gain in 2020, were typically driven by strong quarterly performances, major project wins, and a recovery in sectoral sentiment, showcasing the stock’s cyclical nature.

Man Industries (India) Limited Investor Relevance and Portfolio Role

Man Industries is considered a strategic holding in portfolios seeking exposure to India’s industrial manufacturing and infrastructure development theme. Its inclusion in indices like the S&P BSE Industrials and S&P BSE SmallCap underscores its relevance within a specific segment of the market. The company’s role as a key supplier to oil & gas and water projects makes it a focused choice for investors aligning with long-term infrastructure and energy security trends.

Man Industries equity is held by a mix of domestic and international institutional investors, reflecting its niche in the industrial sector. Top institutional stakeholders include ITI Mutual Fund. Prominent global fund holders include DFA Investment Dimensions Group Inc., Dimensional ETF Trust, American Century ETF Trust, SPDR Index Shares Funds, and Dimensional Funds plc. This investor base underscores the company’s role as a specialized holding in both domestic and global portfolios focused on emerging markets and industrials.

Beyond fundamentals and ownership, Man Industries’ stock is monitored for its volatility and momentum characteristics. Technical indicators such as RSI, MACD, and MFI provide additional insight into short-term momentum shifts in Man Industries stock price. While primarily used for near-term trading, these tools can also help gauge market sentiment around quarterly results or major order announcements.

Man Industries’ beta indicates higher volatility compared to the broader market, reflecting its nature as a smaller-cap industrial stock sensitive to economic cycles. The long-term beta stands at 1.69, suggesting the stock has historically been more volatile than the market. Shorter-term measures show even higher volatility, with a daily beta over a one-month range at 3.37 and over a three-month range at 2.92. Weekly betas over one-year and two-year ranges are 2.21 and 2.37, respectively. This elevated beta across timeframes means the Man Industries share price tends to experience larger swings in response to market movements, sector news, or company-specific developments, which is a key consideration for portfolio positioning and risk assessment.

Man Industries (India) Limited Sectoral Relevance And Peer Positioning

Man Industries’ sector relevance stems from its specialization in manufacturing large-diameter line pipes essential for oil & gas transmission, water projects, and industrial applications, establishing it as a key player in India’s industrial infrastructure ecosystem. Peer comparisons with companies like Welspun Corp, Maharashtra Seamless, Jindal SAW, PSL Limited (now part of Welspun), and Rama Steel Tubes often focus on product mix, manufacturing capacity, geographic diversification, and order book size rather than short-term stock moves. These benchmarks help investors assess operational scale, client relationships, and execution capabilities. Institutional tracking of infrastructure spending, global energy capex, and raw material cost trends further highlights the company’s importance within the capital goods and industrial piping segment.

Man Industries’ sectoral importance is also reflected in financial and market metrics that demonstrate its growth, scalability, and market valuation.

Man Industries market cap has shown significant growth, reflecting its business expansion and market re-rating. As of February 2026, its market cap stood at ₹28.74 billion, having increased by 38.59% over the previous year. Historically, the company’s market cap has grown from ₹132.86 million in October 2001, representing a compound annual growth rate of 24.78%. Annual data shows substantial increases, such as a 266.82% rise in 2023 to ₹17.14 billion and a further 36.49% increase in 2025 to ₹28.95 billion, though it experienced a decline of 18.41% in 2022. This growth trajectory aligns with periods of strong financial performance and sectoral tailwinds.

Man Industries earnings history shows a pattern of growth with periodic volatility, characteristic of project-based businesses. Net income grew from ₹9.03 crore in March 2014 to ₹153.17 crore in March 2025. Key growth phases include a jump from ₹50.38 crore in 2015 to ₹101.58 crore in 2022, followed by a dip to ₹68.00 crore in 2023. Earnings then recovered strongly to ₹105.14 crore in 2024 and further to ₹153.17 crore in 2025. This earnings progression correlates with the execution cycle of large orders, margin fluctuations due to steel prices, and the company’s operational efficiency, directly influencing the Man Industries share price over time.

Man Industries EPS has followed a trajectory similar to net income, indicating per-share profitability growth. EPS stood at ₹1.58 in March 2014 and increased to ₹23.66 by March 2025. Over the last five years, EPS was ₹17.66 in 2021, ₹17.17 in 2022, ₹11.15 in 2023, ₹16.24 in 2024, and ₹23.66 in 2025. The 45.69% growth in EPS from 2024 to 2025 was particularly notable. These fluctuations in EPS are closely tied to the company’s net income, changes in outstanding shares, and profit margins, serving as a fundamental driver for long-term valuation.

Man Industries P/E ratio has varied over the years, reflecting changing market valuations of its earnings stream. Over a five-year period, the P/E ratio has seen significant shifts: 4.51 in March 2021, 5.38 in 2022, 8.22 in 2023, 20.82 in 2024, and 11.27 in 2025. The peak of 20.82 in 2024 represented a high valuation expectation, which moderated to 11.27 in 2025. The latest P/E of 11.27 is above the five-year average of 10.04. These changes in the P/E ratio illustrate how market sentiment and growth expectations around the company and its sector evolve over different economic cycles.

Summary

Man Industries (India) Limited is a prominent manufacturer of large-diameter steel line pipes, serving global energy and infrastructure sectors. The Man Industries share price is influenced by its project execution, order book, and sectoral cycles. The company’s stock is listed on key exchanges and relevant indices, with a performance history marked by cyclical trends aligned with industrial capex. Its financial metrics and market position provide a framework for understanding its role within the industrial manufacturing landscape.