EBITDA improved by 61.4% to Rs 136 crore in Q3 FY26 from Rs 84 crore in Q3 FY25. EBITDA margin was 16.2% in Q3 FY26, reflecting the highest consolidated quarterly margin achieved by the company to date. This strong performance was driven by a favourable product and geographic mix.
The company maintained a net cash position of around Rs 38 crore as of 31 December 2025, reflecting a healthy balance sheet.
The company’s executable order book stood at around Rs 4,000 crore, providing healthy revenue visibility over the next 6–12 months and underpinning growth momentum in the coming quarters.
Man Industries’ strategic capacity expansion initiatives in Saudi Arabia and Jammu are progressing as planned, with key civil works and major equipment installations largely completed. The Saudi facility is expected to commence commercial production by Q1 FY27, strengthening the company’s regional footprint, while the Jammu facility remains on track for commissioning by Q2 FY27.
The company added that the outlook for the year remains strong, supported by steady order execution and healthy order inflows, and reiterated its full-year revenue guidance of Rs 3,600–3,700 crore, implying 15–20% year-on-year growth in its core business.
Nikhil Mansukhani, managing director, MAN Industries (India), said, "We are pleased to report our highest-ever quarterly EBITDA margins, reflecting the strength of our strategy, disciplined execution, and continued focus on operational efficiency.
With a record order book, steady progress on our capacity expansions in Saudi Arabia and Jammu, and an expanding global footprint, we are well positioned for the next phase of growth. Our emphasis on value-added products, prudent capital allocation, and customer diversification will continue to support sustainable performance and strengthen our leadership in the global line pipe industry.”
Man Industries is a leading manufacturer and exporter of large-diameter carbon steel line pipes for various high-pressure transmission applications for gas, crude oil, petrochemical products, and potable water.