Ahmedabad, 23rd March 2023: Man Industries (India) Limited, one of India’s leading Large Diameter API Pipe Manufacturing Companies, has inaugurated their new ERW Line Pipe Plant in Anjar, Gujarat. The Company has also started production at the new plant, thereby widening its product offerings and streamlining production by entering into the manufacturing of ERW pipes which will increase the market share of the Company.
The Company has two state-of-the-art manufacturing facilities with 1 facility located in Anjar, Gujarat, having 2 LSAW Line Pipe units & 2 HSAW Line Pipe units and also for various types of Anti-Corrosion Coating Systems and 1 facility in Pithampur, Madhya Pradesh, having a total installed capacity of over 1 Mn+ MTPA.
On the new plant launch announcement, Dr. R C Mansukhani, Chairman, Man Industries (India) Limited, said, “The new plant launch is a momentous occasion for all of us. With this, we are poised to enhance our product mix and capture increasing industry opportunities. The Indian ERW pipe market is one of the fastest-growing segments, largely driven by new-age applications in the construction sector. Hence, investing in this project was part of our next stage of growth to serve the hydro-carbon and CGD sector.”
“Our goal and aspiration over the next few years are to increase our revenue on the back of better utilisation of existing facilities, better absorption of fixed costs, and addition of new products, thereby improving EBITDA margin from current levels.”, he added.
The Company also recently announced that they received a new export order worth approximately INR 1300 crores for the supply of API High-Grade Large Diameter Pipes along with Coating. With this, the unexecuted Order Book now stands at approximately INR 2000 crores to be executed in six to eight months.
MAN Industries (India) Ltd. showcases a strong mounting of the business environment and the trust that customers have in the company’s state-of-the-art technologies, industry expertise, and execution capabilities. The Company holds an impeccable track record of uninterrupted profitability, dividend and meeting all its financial commitments in the challenging and growing business environment.
About MAN Group
Man Industries (India) Ltd. is the flagship Company of Man Group, promoted by the Mansukhani Family in 1970. The Company is a part of the well-diversified MAN Group, growing under the dynamic leadership of Dr. R. C. Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has become one of the largest players in LSAW Pipes, Spirally Welded Pipes and Coating Systems.
It has state-of-the-art manufacturing facilities with a total combined capacity of 1 Million Metric Tonnes per annum for LSAW and HSAW Pipes. It is dedicated to the highest Operating and Quality standards, environment protection and Occupational Health & Safety Standards and is accredited by ISO-9001, ISO 14001 & OHSAS 18001 certification. The shares of the Company are listed with the Bombay Stock Exchange and National Stock Exchange.
Man Industries (India) Limited has been profit-making since its inception and is a consistent dividend-paying company. The Company holds an excellent track record of promptly meeting its financial obligations in a timely manner in the toughest market conditions.