Man Industries (india) Limited · NSE:MANINDS
Man Industries (india) — Investor Presentation (September 2026)
37 slides from Man Industries (india)'s investor presentation, Sep 1, 2026
Slide 1: Cover letter to stock exchanges
September 1, 2026 To, To, BSE Limited National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza, 5th Floor, Rotunda Building, Plot No. C/1, G block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai - 400 001. Bandra (E), Mumbai - 400 051. Scrip Code: 5132
Slide 2: Corporate Presentation 2026
Corporate Presentation 2026
Slide 3: Business Overview
Business Overview
Slide 4: Company at a glance
3 Company at a glance Manufacturing Excellence. Built to Scale. Robust Growth Trajectory FY22 FY26 CAGR – 13.4% 3 1.6Mn+ MTPA* ₹2,178 Cr ₹3,592 Cr Decades of API grade LSAW, HSAW, ERW, Revenue Revenue experience Coating CAGR – 21.0% 3 Present across ₹218 Cr ₹468 Cr State of the art 30+ EBITDA EBITDA
Slide 5: A Business Built for Scale
4 A Business Built for Scale EXPANDING FOOTPRINT, UNLOCKING CAPACITY ACROSS INDIA AND SAUDI ARABIA OPERATING TODAY 1 1.2Mn+ MTPA 2 430,000 MTPA India pipe capacity National Pipe Company (NPC) Saudi Arabia, acquired pipe capacity › Anjar (Gujarat) and Pithampur (M.P.) › 250k MT HSAW + 180k MT LSAW ›
Slide 6: Global Presence, Manufacturing Footprint & Offices
5 Global Presence, Manufacturing Footprint & Offices MP National Pipe Company
Slide 7: Journey So Far
1996 2007 2019 • First Indian company to • LSAW pipe plant at • Received prestigious USD export 80-inch diameter Man Industries (India) Ltd Pithampur, M.P., capacity 225mn order from USA. 18-mtr-long pipe (24mm signed a 5-year Memorandum 50,000 TPA. Two new HSAW lines of thickness) for a of Understa
Slide 8: Experienced Management governed by a Strong Board
Experienced Management governed by a Strong Board Dr. Ramesh C. Mansukhani Mr. Nikhil Mansukhani Chairman Managing Director He is a first-generation entrepreneur with over four decade of He is associated with Man Industries (India) Ltd. after completing industrial experience. As the driving force be
Slide 9: Manufacturing Facilities
Manufacturing Facilities • MAN Industries (India) Ltd. operates two advanced manufacturing facilities—one in Anjar, Kutch District, Gujarat and another in Pithampur, Madhya Pradesh—together spanning over ~182 acres. • With a combined manufacturing capacity exceeding 1.2 million tonnes per annum (TPA
Slide 10: Longitudinal Submerged Arc Welded (LSAW) Pipe
Longitudinal Submerged Arc Welded (LSAW) Pipe • MAN offers LSAW Line Pipes of various sizes and specifications to meet the growing global demand of high-pressure cross-country LSAW Products Range pipelines. • Outside Diameter: 16" to 56" • The LSAW Line Pipes are manufactured in strict conformance t
Slide 11: Helically Submerged Arc Welded (HSAW) Pipe
Helically Submerged Arc Welded (HSAW) Pipe HSAW Products Range • The company’s HSAW Line Pipe Facility at Anjar is equipped • Outside Diameter: 12" to 120" with all NDT and laboratory facilities to cater to the requirements of its world-wide clientele of high • Wall Thickness: 6 mm to 25.40 mm press
Slide 12: Electric Resistance Welded (ERW) Pipe
Electric Resistance Welded (ERW) Pipe ERW TECHNOLOGY • ERW Plant is installed with latest and advanced technological Round Pipe features with Automation. Outside Diameter Outside Diameter • Entry section is designed to handle 32 ton coil weight and accumulator is also installed that enables the mill
Slide 13: Coating
Coating External Coating System • Man Industries offers a wide range of external coating solutions to fulfil customers' needs from anti-corrosion • FBE /DFBE protection and negative buoyancy requirements and internal • 3LPE / 3LPP Coating coating solution to provide flow efficiency and corrosion pro
Slide 14: Marquee Clientele across Globe
Marquee Clientele across Globe Domestic Clients International Clients 13 13
Slide 15: Accolades & Certifications
Accolades & Certifications 14
Slide 16: Jammu Plant Update
15 Jammu Plant Update Greenfield stainless steel seamless pipe facility - status as of Q1 FY27. CAPACITY CAPEX INCURRED (TILL Q1 FY27) PRODUCTION TIMELINE 22,000 MTPA ₹350Crs Mar 2027 Stainless steel seamless pipe, a new, higher- Against a total planned capex of ~₹600 Cr for Production starting Marc
Slide 17: Merino Shelters: Monetization of Non-Core Assets
16 Merino Shelters: Monetization of Non-Core Assets Real Estate Monetization 6 Acres land 30% Rs.70 Cr Rs. 80-120 Cr Opp. D.Y Patil Stadium, Company’s share of Upfront amount received Annual Cashflow Navi Mumbai profit in sale of after the JDA in Q4FY25 from FY28 developed area Joint Development Agr
Slide 18: Strategic Acquisition: National Pipe Company Saudi Arabia
STRATEGIC ACQUISITION KSA National Pipe Company Saudi Arabia INDIA Manufacturing Immediate EBITDA Vision 2030 Play Synergies Accretion Vision 2030 Aligned
Slide 19: Transaction at a Glance
Transaction at a Glance 430,000 MT 100% Aramco Approved USD 102 Mn Annual Production Stake Acquired Since more than two decades Capacity (HSAW+LSAW) Transaction terms Strategic rationale Market Access MAN International Steel Industries Company (MISIC), Immediate entry into Saudi Arabia's regulated O
Slide 20: Acquisition Structure & Financing
Acquisition Structure & Financing MAN Industries MISIC Acquires (India) Limited 100% stake National Pipe Company BSE: 513269 | NSE: MAN International Steel (NPC), KSA MANINDS Listed Acquirer Industries Company -WOS in USD 102 Mn 100% ownership Saudi Arabia FINANCING STRUCTURE Equity USD 32 Mn Debt U
Slide 21: About National Pipe Company Limited
About National Pipe Company Limited 1 HSAW & API 5L & 2B 430,000 MT 2+ Decades 1 LSAW Mill Certified Annual Installed Capacity Relationship with Saudi Aramco Fully Integrated Plants Grade B through X80 Strategies Undertaken on Various Front Total Installed Capacity 430,000 MTPA Pipe Testing & Planne
Slide 22: NPC Key Clients
NPC Key Clients 40+ Year Relationships with Saudi Arabia's & GCC's Leading Organizations DIRECT CLIENTS Saudi Aramco KOC Qatar Petroleum Bapco Refining Primary Client — 40+ Years Kuwait Oil Company State Oil Company, Qatar Bahrain Petroleum Company Saudi Water Authority SWPC WTTCO National Water Co.
Slide 23: NPC Key Clients Contd..
NPC Key Clients Contd.. Global & Regional Engineering, Procurement & Construction Partners EPC CONTRACTORS McDermott L&T SAIPEM Subsea 7 Hyundai E&C Global EPC Contractor Larsen & Toubro ECC Global EPC Contractor Offshore & Subsea EPC Engineering & Construction Sapura Petrofac Lamprell NPCC S.S.E.M.
Slide 24: Why Acquisition Is Better Than Greenfield
23 Why Acquisition Is Better Than Greenfield MAN's build-vs-buy analysis for entering the Saudi market , the numbers behind acquiring NPC instead of building a greenfield mill. ACQUIRE V/S GREENFIELD: WHY ACQUISITION WAS THE RIGHT CALL FOR MAN ACQUIRE NPC — THE ROUTE TAKEN GREENFIELD SETUP — THE ROU
Slide 25: How this Acquisition Creates Value
24 How this Acquisition Creates Value Post-acquisition, NPC's 430,000 MTPA capacity offers significant headroom for utilization gains as The Dammam coating & double- throughput ramps up on the Delivers cost synergies through joint facility will enable us to existing asset base, fixed costs get ~1.60
Slide 26: NPC — Financial Summary
NPC — Financial Summary Figures in SAR M & USD M | CY2025 PROFIT & LOSS STATEMENT — CY2025 CASH & LIQUID ASSETS — April'2026 SAR M USD M NPC holds strong liquidity with zero debt, reflecting a healthy cash-generative business. Revenue 792.7 211.4 SAR M USD M Gross Profit 214.1 57.1 Cash & Bank Balan
Slide 27: Financial Overview
Financial Overview
Slide 28: Annual Standalone Financial Performance
Annual Standalone Financial Performance *All figures reported in INR Millions, except for EPS Particulars FY26 FY25 Y-o-Y Revenue from Operations 34,552 31,182 10.8% Other Income 531 542 (2.0)% Total Income 35,083 31,724 10.6% Operating expenses 30,155 28,415 6.1% EBITDA* 4,928 3,309 48.9% EBITDA Ma
Slide 29: Annual Consolidated Financial Performance
Annual Consolidated Financial Performance *All figures reported in INR Millions, except for EPS Particulars FY26 FY25 Y-o-Y Revenue from Operations 35,639 35,054 1.7% Other Income 286 200 43.2% Total Income 35,925 35,253 1.9% Operating expenses 31,246 31,690 (1.4)% EBITDA* 4,679 3,563 31.3% EBITDA M
Slide 30: Consolidated Balance Sheet
Consolidated Balance Sheet *All figures reported in INR Millions Particulars FY24 FY25 FY26 Particulars FY24 FY25 FY26 EQUITY AND LIABILITIES ASSETS Equity Share Capital 324 324 375 Non-Current Assets Property, Plant and Equipment 5,234 5,539 6,546 Other Equity 13,725 15,749 20,490 Right-of-use Asse
Slide 31: Historical Consolidated Financial Performance
Historical Consolidated Financial Performance *All figures reported in INR Millions, except for EPS Total Income* Gross Profit & Gross Profit Margin (%)* 13,639 31,942 35,253 35,925 22,703 7,907 7,905 4,973 38.0% 21.9% 24.8% 22.4% FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 EBITDA & EBITDA Margins (%)*
Slide 32: Quarterly Consolidated Financial Performance Trend
Quarterly Consolidated Financial Performance Trend *All figures reported in INR Millions, except for EPS Total Income* Gross Profit & Gross Profit Margin (%)* 6,269 11,655 10,650 7,736 8,148 8,386 3,820 3,409 53.8% 1,833 2,128 40.6% 35.9% 23.7% 26.1% Q1-FY26 Q2-FY26 Q3-FY26 Q4-FY26 Q1-FY27 Q1-FY26 Q
Slide 33: Next 5 years Goal
Next 5 years Goal
Slide 34: Piping Towards Higher Utilization Through Global Diversification
Piping Towards Higher Utilization Through Global Diversification Optimize overall utilization by relocating spare capacity from India to Strategies Undertaken on Various Fronts markets with strong long term demand visibility, diversifying into high- growth geographies with the existing product range
Slide 35: List of Abbreviations
List of Abbreviations API - American Petroleum Institute FBE - Fusion Bonded Epoxy Coating DEBE - Dual Fusion Bonded Coating CWC - Concrete Weight Coating NDT- Non-Destructive Testing CNC - Computer Numeric Control GMAW - Gas Metal Arc Welding LPE - 3 Layer Polyethylene Coating LPP - 3 Layer Polypro
Slide 36: Disclaimer
Disclaimer Man Industries (India) Ltd. Disclaimer: No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions a
Slide 37: Thank You
THANK YOU For further information please contact our Investor Relations Representatives: Mr. Vijay Gyanchandani Mr. Rahul Rawat DGM – Investor Relations Company Secretary Contact no.: +91 9619438448 Email: cs@maninds.org Email: Vijay.gyanchandani@maninds.org
Man Industries (India) — Investor Presentation (September 2026) on 6ix