Man Industries Q4 FY26 Standalone Revenue Up 36% to ₹1,157 Cr; PAT Grows 74%
Man Industries reported Q4 FY26 standalone revenue up 36% to ₹1,157 crore and PAT up 74% to ₹70 crore. FY26 standalone EBITDA and PAT margins hit record highs at 14.0% and 5.6%. The company has guided for FY27 consolidated revenue of ₹5,000-5,500 crore with 13-15% EBITDA margins. The Jammu plant is expected to commence production by March 2027.
The announcement includes strong financial performance metrics, record margins, positive future guidance, and updates on significant expansion projects, all of which are material information for investors.
The company reported strong year-on-year growth in standalone revenue and profits for Q4 FY26 and FY26, with record EBITDA and PAT margins. The guidance for FY27 is also positive, and key expansion projects are progressing well.
Man Industries (India) Limited announced its audited financial results for the fourth quarter and full fiscal year 2026. The company reported a significant increase in standalone revenue for Q4 FY26, which grew by 36% year-on-year to ₹1,157 crore. EBITDA for the quarter surged by 69% to ₹171 crore, with margins expanding by 300 basis points to 14.6%. Profit Before Tax (PBT) and Profit After Tax (PAT) also saw substantial growth, increasing by 67% and 74% respectively to ₹95 crore and ₹70 crore.
For the full fiscal year 2026, standalone revenue increased by 10.8% to ₹34,552 crore. EBITDA margins reached an all-time high of 14.0%, up 360 basis points year-on-year, and PAT margins stood at 5.6%, an improvement of 130 basis points. The company ended the fiscal year with a strong standalone order book of approximately ₹3,000 crore, providing revenue visibility for the next 6-12 months.
On a consolidated basis, Q4 FY26 revenue showed a slight decrease of 5.0% to ₹11,573 crore, impacted by a one-time contribution of ₹369 crore from the Merino Shelters real estate asset in the previous year's quarter. Excluding this, the core pipe business demonstrated robust growth of approximately 36.2% year-on-year. Consolidated EBITDA margins improved by 150 basis points to 12.7%, while PAT margins saw a decrease of 120 basis points to 4.4%, partly due to a forex translation loss on subsidiary machinery imports.
The company provided a consolidated revenue guidance of ₹5,000 –5,500 crore for FY27, with an expected EBITDA margin of 13-15%. The Jammu greenfield stainless steel seamless pipe plant is on track for completion by December 2026, with commercial production expected by March 2027. The Merino Shelters project is set for launch in June 2026, with cash flows expected to commence thereafter. The company also clarified that the increase in 'Other Expenses' is due to a shift to a Delivered Duty Paid (DDP) model, which increases both revenue and logistics costs without impacting net margins.
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Man Industries (India) Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Man Industries (India) Limited. Read the original for the full detail.