How did Man Industries' FY26 earnings perform?

Standalone net profit jumped 43% to ₹195.85 crore. Revenue from operations grew 11% to ₹3,455 crore.

What does the new order book mean for FY27?

The ₹3,000 crore order book at the start of FY27 equals about 87% of the previous year's revenue, signalling strong near-term visibility. The work is contracted for execution within 6 to 12 months.

What did the auditors flag?

The auditors noted two items: a SEBI order that has been stayed by the Securities Appellate Tribunal, and an income-tax search conducted during the year. These are known overhangs.

Is the SEBI order a new problem?

No. The filing describes the SEBI order as a known overhang that has already been stayed by the Securities Appellate Tribunal. It does not appear to be a new development.

Earnings · Steel Pipes · Small cap

Man Industries posts ₹196 cr profit, enters FY27 with ₹3,000 cr order book

FY26 standalone profit jumped 43%, revenue grew 11%. The new order book equals 87% of last year's revenue.

— 5 earlier stories on Man Industries (India) Ltd. →

MANINDS By Tipsheet Editorial 25 May 2026 · 8:28 PM IST Verify on BSE · NSE

Mkt cap₹4,433 cr

P/E26.00×

ROE9.53%

Debt / eq.0.28

₹3,000 cr Order backlog at start of FY27, or 87% of FY26 revenue.

What's new

FY26 standalone net profit rose 43% to ₹195.85 crore on revenue of ₹3,455 crore.
Order book at the start of FY27 is ₹3,000 crore, for execution within 6-12 months.
Auditors flagged a pending SEBI order (stayed by SAT) and an income-tax search during the year.

Why this matters

The earnings growth is strong, but the order book is the real story. At ₹3,000 crore, it covers 87% of the last fiscal's revenue, locking in near-term cash flow. The auditor flags are known issues, not new risks.

What we're watching

Whether the stayed SEBI order is finally resolved in FY27.
Execution pace on the ₹3,000 cr backlog, given the 6-12 month timeline.
Impact of the income-tax search on future filings.

The full read

Man Industries closed FY26 with a 43% jump in standalone net profit to ₹195.85 crore, on revenue that grew 11% to ₹3,455 crore. The profit growth is clean. But the forward signal is stronger: the company entered FY27 with a ₹3,000 crore order book, which translates to 87% of last year's revenue. That backlog is scheduled for execution within 6 to 12 months, providing substantial near-term cash flow. The auditors did flag a SEBI order and an income-tax search, but both are known overhangs. The SEBI order is stayed, and the tax search is a disclosure item. The core story is the earnings beat and the loaded order book.

Questions answered

How did Man Industries' FY26 earnings perform?: Standalone net profit jumped 43% to ₹195.85 crore. Revenue from operations grew 11% to ₹3,455 crore.
What does the new order book mean for FY27?: The ₹3,000 crore order book at the start of FY27 equals about 87% of the previous year's revenue, signalling strong near-term visibility. The work is contracted for execution within 6 to 12 months.
What did the auditors flag?: The auditors noted two items: a SEBI order that has been stayed by the Securities Appellate Tribunal, and an income-tax search conducted during the year. These are known overhangs.
Is the SEBI order a new problem?: No. The filing describes the SEBI order as a known overhang that has already been stayed by the Securities Appellate Tribunal. It does not appear to be a new development.

Mentioned: SEBI · Securities Appellate Tribunal · ₹3,000 cr order book

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Man Industries (India) Ltd.

Steel Pipes

₹4,449 cr

P/E 26.10×

Latest quarter · Mar 2026

Sales₹1,157 cr

Net profit₹51 cr

Op. margin+12.1%

EPS₹6.78

Strength & growth

Debt / equity0.28×

Current ratio1.39×

Sales CAGR+9.9%

EPS CAGR+4.3%

Story so far

All notes on MANINDS →

25 May 2026 · 8:28 PM IST Man Industries posts ₹196 cr profit, enters FY27 with ₹3,000 cr order book
today Man Industries lands ₹1,000 cr pipe orders; order book hits ₹4,100 cr
17d ago Man Industries' transcript adds nothing the market hasn't already heard
23d ago Man Industries cuts FY27 revenue guidance
23d ago Man Industries targets ₹5,500 cr revenue for FY27