Man Industries (india) Limited · NSE:MANINDS
Man Industries (india) — Merger or Acquisition (May 2026)
17 slides from Man Industries (india)'s merger presentation, May 26, 2026
Slide 1: Exchange filing cover letter
May 26, 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: 513269 Sc
Slide 2: Man Industries Acquires National Pipe Company
KSA STRATEGIC ACQUISITION Man Industries Ltd. Acquires National Pipe Company INDIA Saudi Arabia Vision 2030 Play Manufacturing Synergies Immediate EBITDA Accretion Investor & Analyst Presentation | May 2026 Vision 2030 Aligned
Slide 3: Important Notice & Disclaimer
Important Notice & Disclaimer This presentation has been prepared by Man Industries Limited ('Company') solely for informational purposes in connection with the proposed acquisition of National Pipe Company Limited ('NPC'), Saudi Arabia. This presentation is strictly confidential and is being furnis
Slide 4: Presentation Agenda
Presentation Agenda Transaction Details About NPC 01 02 Overview, Structure & Valuation Company overview, Product Portfolio, Key Clients & Key financials Saudi Vision 2030 Man Industries × Vision 2030 03 04 The infrastructure Supercycle & HSAW + LSAW Market Opportunity Aligning Man's 2030 vision wit
Slide 5: Transaction at a Glance
Transaction at a Glance 100% USD 102 Mn 430,000 MT Aramco Stake Acquired ~INR 1,000 Crores Annual Production Approved Capacity (HSAW+LSAW) Since more than two decades STRATEGIC RATIONALE TRANSACTION TERMS Market Access Immediate entry into Saudi Arabia's regulated O&G supply chain with established A
Slide 6: Acquisition Structure & Financing
Acquisition Structure & Financing FINANCING STRUCTURE MAN Industries (India) Limited TOTAL BSE: 513269 | NSE: MANINDS USD 102 Mn Listed Acquirer Equity USD 32 Mn 100% ownership Debt MISIC Acquires USD 70 Mn 100% stake MAN International Steel Industries National Pipe Company (NPC), KSA Company -WOS i
Slide 7: Acquisition Valuation — What Multiple is MAN Industries Paying?
Acquisition Valuation — What Multiple is MAN Industries Paying? USD 102 1.5x 0.4x 0.7x 2.7x Total Consideration EV / EBITDA EV / Revenue Price / Book P/E (Million) (Acquisition Multiple) (Acquisition Multiple) (Acquisition Multiple) (Acquisition Multiple) Peer Valuation Benchmarks — Saudi Arabia Lis
Slide 8: About National Pipe Company Limited
About National Pipe Company Limited 430,000 MT 1 HSAW & 1 LSAW Mill 2+ Decades API 5L & 2B Annual Installed Capacity Fully Integrated Plants Relationship with Saudi Aramco Certified Grade B through X80 MANUFACTURING CAPABILITIES & CAPACITY BREAKDOWN Pipe Manufacturing Total Installed Capacity 430,00
Slide 9: NPC Key Clients
NPC Key Clients 40+ Year Relationships with Saudi Arabia's & GCC's Leading Organisations 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 10: 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 11: 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 SAR M USD M Revenue 792.7 211.4 NPC holds strong liquidity with zero debt, reflecting a healthy cash-generative business. Gross Profit 214.1 57.1 Cash & Bank Balan
Slide 12: Saudi Vision 2030 — The Infrastructure Supercycle
Saudi Vision 2030 — The Infrastructure Supercycle SAR 1.258T SAR 184B USD 52–58B USD > 900B USD 80B 2025 State Budget Govt. Capex FY2025 Saudi Aramco Annual PIF Assets (2025) National Water Strategy (Govt. Expenditure) (14.3% of Total Budget) Capex (2025 Guidance) Targeting USD 2.67T by 2030 3,300+
Slide 13: MAN Industries 2030 Vision — Aligned with Saudi National Agenda
MAN Industries 2030 Vision — Aligned with Saudi National Agenda SAUDI VISION 2030 MAN INDUSTRIES — 2030 VISION Economic Diversification Scale to Compete Globally Reduce oil dependency; grow manufacturing & industrial base to 50% of non-oil MAN India (1.20+ MTPA) + NPC (430,000 MTPA) = ~1.60+ MTPA co
Slide 14: Competitive Landscape — SAW & Large-Diameter Pipe Manufacturers, Saudi Arabia
Competitive Landscape — SAW & Large-Diameter Pipe Manufacturers, Saudi Arabia Saudi Arabia's SAW pipe manufacturing market is served by five established players with combined installed capacity of ~2.5 million MT/yr (operational) and ~1.05 million MT/yr of new capacity entering over the next 2 years
Slide 15: MAN Industries — FY2030 Revenue & Margin Potential
MAN Industries — FY2030 Revenue & Margin Potential KSA · India · Consolidated KSA OPERATIONS NPC Acquisition | Peak Potential | FY2030E INR ~4,000 Cr ~18–20% ~12–15% KSA Peak Revenue KSA EBITDA Margin KSA PAT Margin INDIA OPERATIONS India Operations | FY2030E T INR ~4,500 Cr ~12–14% ~6–8% India Reve
Slide 16: Disclaimer & Contact Information
15 Disclaimer & Contact Information MAN Industries 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 informat
Slide 17: Thank You
THANK YOU MAN Industries (India) Limited × National Pipe Company, KSA Investor & Analyst Presentation | May 2026 | www.maninds.org | BSE: 513269 | NSE: MANINDS
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